Deal focus: Cool Japan helps Spiber spin chic new web

Pollution is out of style. A quick glance at the latest headlines in the fashion industry reveals deep anxieties that were absent only a few years ago about the role of haute couture in environmental degradation. Even an off-the-rack jeans and t-shirt combo is said to require more than 5,000 gallons of water to manufacture.

In the investment industry, this situation is mostly reverberating in the context of environmental, social, and governance (ESG) policies, but it has also started to fundamentally redraw investment theses. Cool Japan Fund, a government initiative that has heretofore focused exclusively on cultural categories, offered a case in point this week by leading a JPY5 billion ($44 million) round for a Japanese biotechnology developer called Spiber. 

The cultural connection lies in Spiber’s focus on synthesizing protein-based materials that simulate characteristics of spiderwebs. The materials can be spun into a range of specialized fibers, woven and knit textiles, and non-woven fabrics that will help realize fashion’s growing environmental ambitions. Indeed, Spiber has flagged apparel as one of its key target industries as it shifts from R&D into mass production and commercialization.  

“We are already seeing big changes in the fashion industry as consumers become more aware of the environmental implications of their choices in apparel,” says Daniel Meyer, Spiber’s head of international corporate planning. “Big brands and luxury houses are moving away from virgin plastics and animal-based materials, but the options are limited. Our fermented materials can provide a solution for the growing dilemma the fashion industry faces when looking for renewable, sustainably produced materials.”

Cool Japan has substantial expertise in apparel, but its core value-add contribution will ultimately be bankrolling Spiber’s new factory in Thailand. The facility is planned to be the biggest of its kind in the world and some 100 times the size of the company’s pilot plant in Japan. By 2021, it is expected to produce several hundred tons a year of fibers, resins, films, and gels characterized by low environmental impact, biodegradability, and non-reliance on petroleum.

Other advantages include a superior lightness and toughness that could be useful in the automotive industry. Noting that spider silk is 340 times stronger than steel, Spiber claims to have developed a proprietary protein-based material that has the potential to make cars more fuel efficient and safer.  

“In the end, the significance of a material is a balance of three factors: performance, cost, and environmental impact,” says Meyer, describing the Spiber platform as capable of tuning the balance of these factors for various end applications. “There is still a lot of work to do, but we believe that synthetic protein materials have the potential to become a new core material for industry and society as a whole.”   

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• Topics
• North Asia
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