VANCOUVER – Following news that Swedish textile recycler Renewcell has sacked its CEO after significantly lower than expected sales of its Circulose pulp, environmental not-for-profit Canopy has moved to calm fears over the potential unfeasibility of the burgeoning next-generation, cellulosic fibres sector.
In a recent update on its third quarter results, Renewcell admitted sales to textile manufacturers were taking longer to ramp up than anticipated and it expected to report a net loss of about 105 million Swedish krona ($9.6 million) in November.
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