RETEX Panels manufactures construction materials from recycled textile, plastic and car tire waste. RETEX mission is to be a global leader in the recycling of textile, plastic and rubber waste into useful end products such as construction materials, furniture and packaging materials. In fulfilling this mission we are pushing forward the transition of our planet to a more circular economy and sustainable environment. At RETEX our mission is to be a leader and innovator in the recycling of waste into construction materials and we target to reprocess 15% of Europe’s textile waste by the year 2026. The management and utilization of the waste is a major issue and the solution will play a key role in achieving Europe’s climate ambitions: * Over 2.8M tons of textile waste is generated yearly in EU but only 15% is recycled, a full 85% goes to landfills or is incinerated * In 2018 total plastic used in Europe was 51M tons but only 29M was collected as waste, of which 9M was recycled (=32%) * While 92% of used car tires are collected in Europe (= 3.1M tons), only 57% are recycled into another use, 35% are incinerated for energy RETEX has developed a replicable business model for governments with the clear conversion rate of the investment VS waste problem solved in tons. One RETEX factory continually solves 50,000 tons of textile waste, 30,000 tons of plastic waste and over 7,500 tons of rubber (tire) waste yearly. RETEX has already signed Letters of Intent (LOIs) to build factories in 4 countries, the Netherlands, Belgium, Finland and Estonia. Our goal is a network of 10 factories in key markets across Europe by the year 2028. The first factory in Finand is scheduled for production in late 2023. RETEX directly fits with the European Circular Economy Package (CEP) directive, specifically increasing the share of materials recycled as secondary raw materials in the European economy and decreasing production waste.