Rhea’s Factory Receives €200,000 Grant From H&M Foundation’s Global Change Award

Deal Summary

Rhea’s Factory, a biotech firm developing AI‑designed enzymes for textile recycling, was named a winner of the 2026 Global Change Award and received a €200,000 ($230,858) grant from the H&M Foundation. The award provides funding and a year‑long program, with no equity taken. The grant supports the company’s RheaCycle platform that converts polyester scrap into virgin‑quality building blocks.