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Jun 11, 2024 1 Min #Investment#SUSTAINABILITY

Harcy, a pioneering company in sustainable building materials, has announced that it has secured $350,000 in seed funding. This funding round was led by Kuveyt Türk Portföy, with participation from Arz Portföy and Ahu Serter. Harcy is making waves in the industry by producing high-performance building insulation materials from textile waste.

A Significant Milestone for Harcy

Irfan Yılmaz, Deputy General Manager of Kuveyt Türk and Chairman of the Lonca GSYF Investment Committee, shared his enthusiasm for Harcy’s achievements. “Harcy, a graduate of our Lonca Entrepreneurship Center, has developed a business model and product line that enhances the competitiveness of Turkey’s leading sectors – textiles and construction – with a focus on sustainability and impact. We are thrilled to provide financial support alongside a distinguished group of investors, adding to the support we have already provided through Kuveyt Türk. We believe Harcy will continue to achieve great success, contributing valuable innovations to both our country and the world.”

Innovation in Sustainable Materials

Dr. Özge Akbulut, CSO of Fark Labs and Board Member of Harcy, highlighted the innovative aspects of Harcy’s products. “We have been closely monitoring ‘sustainable material technologies’ for some time. What caught our attention with Harcy was their success in producing functional products. Harcy upcycles textile waste into thermal and sound insulation materials, not only removing waste from the system but also transforming it into high-performance building products. We are confident that Harcy will make a significant impact in the market due to its high performance and ease of application.”

The Importance of Recycling and Sustainability

Murat Onuk, Board Member and General Manager of Arz Portföy, emphasized the critical role of recycling in both environmental sustainability and economic development. “We believe that recycling plays a critical role in both environmental sustainability and economic development. Harcy’s work offers significant benefits to the construction and insulation sectors. By investing in companies like Harcy, which are committed to environmental sustainability and impact, we are contributing to a more livable world while conserving resources.”

About Harcy

Harcy is an R&D firm dedicated to promoting a circular economy by developing next-generation building materials from waste. Their first product, Harcy Polyester Wool, is an environmentally friendly, cost-effective, and efficient building insulation material made from textile waste. This innovative approach not only helps in waste reduction but also provides superior insulation solutions.

Future Plans and Goals

The recent investment will be used to increase production capacity and sales within Turkey. Harcy’s ambitious goals for 2024 include:

  • Making Harcy Polyester Wool a well-known and widely used product in the market.
  • Conducting preliminary studies for the EU and MENA markets.
  • Diversifying their product line to include new building materials derived from waste.

Harcy is committed to creating a sustainable future by turning waste into valuable resources. Stay tuned for more updates on their journey towards revolutionizing the building materials industry.