The acquisition is expected to finalize in the second half of 2025, pending standard closing conditions.

This acquisition aligns with ESG metrics, attracting investments from funds focused on sustainability, as a BloombergNEF report predicts $1.2 trillion investment into climate-positive industries by 2030.

The project will incorporate vertical integration from eucalyptus fiber to finished yarn, utilizing recycled materials such as cotton textile waste and agricultural residues.

Altri's CEO, José Soares de Pina, emphasized that this acquisition aligns with their strategy to invest in next-generation materials and move up the value chain.

Altri's investment will enhance AeoniQ's production capacity, focusing on high-value, low-environmental-impact cellulose applications.

Plans are underway to develop a 30,000-tonne Giga factory in Portugal by 2026, which could save up to 150,000 tons of CO2 annually.

The joint venture is supported by major textile industry players, including Hugo Boss and MAS Holdings, with The Lycra Company acquiring exclusive distribution rights.

Construction of the world's first AeoniQ industrial unit will begin in 2026 at Altri's fiber factory in Caima, Portugal, with an initial capacity of 1,750 tons per year.

Altri SGPS S.A., a leader in sustainable cellulosic pulp production in Portugal, has agreed to acquire a majority stake in AeoniQtm, marking its entry into the sustainable textiles market.

The AeoniQtm yarns are fully biodegradable and have been validated to reduce CO2 emissions by at least 3.2 kg per kg compared to traditional polyester.

The global sustainable textiles market is projected to reach $12 billion by 2030, growing at an annual rate of 14%, with Altri targeting luxury and activewear segments.

AeoniQtm, developed by Swiss cleantech company HeiQ Materials AG, is the first climate-positive, biodegradable cellulosic filament yarn designed to disrupt the textile industry by replacing polyester and nylon.