DEBRAND RECEIVES INVESTMENT FROM WM FOR CONTINUED TEXTILE RECYCLING GROWTH AND EXPANSION

VANCOUVER, BC, Nov. 15, 2022 /PRNewswire/ -- Debrand, a reverse logistics textile solutions provider, today announced that it has received a strategic investment from WM, North America's largest environmental solutions provider. This is the first strategic investment made by WM in textile recycling. Leveraging Debrand's expertise and technology, WM expects to offer new textile recycling capabilities for its customers and provide circular solutions across North America. The investment positions Debrand for expansive growth. The terms of the investment agreement were not disclosed.

With a reputation for exceptional service and breakthrough innovations, Debrand specializes in reverse logistics for the fashion and retail industry. The company is headquartered in Vancouver, Canada and customers include Lululemon Athletica, Canada Goose, Aritzia, Kit and Ace, IKEA Canada, and Everlane.

"We work with our customers to unlock the highest-value for their products by extending the products' life through reuse or recycling," said Amelia Eleiter, co-founder of Debrand. "Not only will WM's investment allow us to integrate our solutions at scale across North America, but we will also be able to empower new and existing customers' to run efficient and profitable circular systems."

This year, Debrand is projected to divert nearly 1,000 tons of used textiles (125% year-over-year growth), from landfills through resale, recycling and repurposing channels. The investment from WM will accelerate Debrand's plans to grow its operations, capabilities, customer network, and team in support of both existing and new customers, while continuing to deliver on the company's reputation for best-in-class solutions, quality, and customer service.

"Our customers are looking for ways to reduce waste from their operations, enhance their sustainability reporting, and accelerate the transition to a circular economy," said Eric Dixon, Vice President of Sustainability and Environmental Solutions at WM. "WM, in turn, is continuing to adapt to meet these needs and become a true sustainability partner to our customers." 

"After working with Debrand, we recognized the immense value of their cutting-edge textile allocation technology that has enabled us to enhance sortation and divert our customers' textile waste from landfills into circular solutions. Over 17 million tons of used textile waste are generated annually in the U.S., and our investment in Debrand will help rapidly grow and scale textile solutions and innovation across North America," said Dixon.

Significant demand and growth is expected for Debrand's reverse logistics textile solutions in response to climate change and the movement towards a circular economy. The fashion industry is one of the highest producers of greenhouse gas (GHG) emissions globally, and a growing number of brands have committed to adopting circular strategies to reduce GHG emissions that derive from producing fibers and raw materials. World leaders and organizations, such as NATO, have also pledged their commitment to reducing emissions by at least 45% by 2030. Consumers and regulators are putting pressure on companies to embrace circular business models to alleviate the burden on already stressed natural resources and move towards a sustainable future.

"I am excited and honored that WM has made this investment in our company, team, and technology," said Eleiter. "With their support, we will be able to scale our business and help even more companies transform the way they process returned and surplus inventory by eliminating waste and inefficiencies and prioritizing reuse, recycle and resale opportunities."

ABOUT DEBRAND

Debrand provides optimized reverse logistics solutions for retailers and brands using its proprietary software technology, Compass Allocation Engine. The company's best-in-class solution accurately sorts, identifies and allocates items to their highest-value channel, increasing efficiency, sustainability potential, and unlocking new revenue streams. Based in Vancouver, British Columbia, Debrand's mission is to help world-class brands elevate their sustainability strategy by extracting as much value as possible from the planet's finite resources. The company is dedicated to working with brands to incorporate circular principles into their existing business models to help improve the well-being of both people and the planet. To learn more about Debrand, visit www.debrand.ca.

ABOUT WM

WM (WM.com) is North America's largest comprehensive waste management environmental solutions provider. Based in Houston, Texas, WM is driven by commitments to put people first and achieve success with integrity. The company, through its subsidiaries, provides collection, recycling and disposal services to millions of residential, commercial, industrial and municipal customers throughout the U.S. and Canada. With innovative infrastructure and capabilities in recycling, organics and renewable energy, WM provides environmental solutions to and collaborates with its customers in helping them achieve their sustainability goals. WM has the largest disposal network and collection fleet in North America, is the largest recycler of post-consumer materials and is the leader in beneficial reuse of landfill gas, with a growing network of renewable natural gas plants and the most gas-to-electricity plants in North America. WM's fleet includes nearly 11,000 natural gas trucks ? the largest heavy-duty natural gas truck fleet of its kind in North America ? where more than half are fueled by renewable natural gas. To learn more about WM and the company's sustainability progress and solutions, visit Sustainability.WM.com.

Media Contact: Kim Hong, [email protected]

SOURCE Debrand