H&M invests in industrial decarbonization startup Rondo Energy to tackle fashion supply chain emissions

Fashion and design brand company H&M Group has announced the launch of a new partnership with carbon-free industrial heating solutions provider Rondo Energy, aimed at applying Rondo's industrial decarbonization solution to help reduce the carbon footprint emissions from H&M's supply chain.

Founded in 2020, California-based Rondo Energy provides solutions to combat emissions from industrial thermal processes. Industrial heating uses large amounts of energy, often from fossil sources, to transform materials into products such as metals and plastics. Rondos Heat Battery transforms intermittent renewable energy sources, including wind and solar, into continuous high-temperature heat, enabling the replacement of fossil fuel boilers.

John O'Donnell, Founder and Chief Innovation Officer of Rondo Energy, said:

“Producing and finishing fabrics requires large amounts of low-cost energy, making our brick batteries ideally suited. Today, coal provides most of the heat and most of the carbon pollution that makes fabrics because it has always been cheap and easy to burn. But the world is changing. Region by region around the world, wind and solar power are becoming cheaper than fossil fuels. At Rondo, we have created a simple and practical tool to exploit these new energy sources.

Under the new partnership, H&M and Rondo said they will explore opportunities for factories in H&M's global supply chain to use thermal batteries to replace fossil fuels with heat and energy. clean electricity. Applied to the fashion industry, Rondo said its thermal batteries could replace most fossil fuels used in fabric production and reduce the carbon footprint of our clothing by almost two-thirds.

H&M also announced an investment in Rondo Energy through its venture capital arm, H&M Group Ventures, and its membership on Rondo's Strategic Investor Advisory Board (SIAB). Rondo launched SIAB in August 2023, alongside a $60 million capital raise, with current board members including Rio Tinto, Aramco Ventures, SABIC, SCG, TITAN and SEEIT.

Eric Trusiewicz, CEO of Rondo Energy, said:

“Rondo is excited to partner with H&M Group to explore how our technology can be useful in their supply chain, and to have H&M as an investor and member of our Strategic Investor Advisory Board.

The H&M Group has set itself the goal of achieving net zero emissions by 2040, with intermediate targets to reduce absolute scope 1, 2 and 3 emissions by 56% by 2030. As with most For fashion retailers, scope 3 value chain emissions, or those outside of the company's direct control, account for the vast majority of the company's emissions footprint. According to H&M's 2022 sustainability report, scope 3 accounts for almost 99% of the company's emissions. Of these, more than 60% come from supply chain areas including fabric production, garment manufacturing, raw materials and transportation.

Laura Coppen, Head of Sustainable Investments at H&M Group Ventures, said:

“Rondo is H&M Group Venture’s first investment in decarbonization technology. The company's thermal battery energy storage has the potential to help factories electrify, which is key to meeting our climate goals. We look forward to working closely with Rondo and the broader ecosystem to advance decarb technology.

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