The Chairman of Repsol, Antonio Brufau, and the CEO and co-founder of Coleo, David Puyuelo, have signed an investment agreement under which the Repsol Foundation acquires a stake in Coleo’s recycling division (Coleo Network), a leading Spanish company in circular transformation within the textile sector.
The textile sector is strategic for Spain and Europe. Currently, more than 7 million tonnes of textile waste are generated each year. Of this volume, approximately 10% is recycled and between 20% and 25% is reused or exported, mainly to developing countries. The remaining 65% to 75% ends up in landfills or incineration facilities. The second-hand clothing export market is currently facing significant saturation due to competition from Chinese companies offering lower-priced products. This situation makes it increasingly difficult to export that 20–25%, which in turn increases the volume of European textile waste requiring further treatment.
The business model is shifting toward more sustainable production, and Europe—led by Spain—is at the forefront of this transformation. This is a long-term project requiring sector-wide and social collaboration such as the partnership established between the Repsol Foundation and Coleo.
For Repsol Chairman Antonio Brufau, this investment represents “a clear commitment by the Foundation to the new triple-impact economy and its connection with society. It means developing a business that is growing rapidly and has enormous economic, social and environmental potential in a strategic field such as textile recycling.”
Meanwhile, Coleo’s CEO and co-founder, David Puyuelo, stated that “having the Repsol Foundation as a partner is key for Coleo as we develop our vision of a European textile circularity based on a balance between industrialisation, technological development and social impact.”
With this investment, the Repsol Foundation now holds stakes in five triple-impact companies, contributing to a sustainable and inclusive energy transition.
Coleo Network, European leader in textile circularity
Coleo Network is part of the Spanish group Coleo, a pioneer in textile circularity in Europe, committed to transforming the textile industry towards a sustainable, socially and environmentally responsible circular-use model. To achieve this, it uses industrial processes designed to give value to used garments and develops circular solutions that cover everything from waste management to industrial recycling and the production of recycled fibres, fabrics and garments.
Coleo Network is working to build a European network for textile waste management and recovery. The company uses proprietary technology which, combined with innovation in industrial processes, enables waste recovery and turns it into a viable economic model.
Coleo has three waste-management facilities in Spain (Galicia and Catalonia) and another in Toulouse (France). With the Repsol Foundation joining its shareholding structure, the company will be able to further its growth and open new waste-management and materials-recovery plants.
Social integration and job creation have been part of Coleo’s DNA since its beginnings as a waste-management operator. Having successfully validated a model in collaboration with various associations and organisations, the company promotes the social inclusion of groups at risk of exclusion in each of its facilities. Currently, more than 50% of the people working in its plants belong to one of these groups.
Repsol Foundation, a pioneer in supporting “triple-impact” companies
The Repsol Foundation is a pioneer in directly supporting companies involved in a sustainable and inclusive energy transition, delivering positive “triple impact” on society, the environment, and the business ecosystem. Its strategy is deployed across four segments: emissions reduction and compensation, circular economy, energy efficiency and sustainable mobility.
In addition to Coleo Network, the Repsol Foundation—through its subsidiary Repsol Impacto Social—also holds stakes in other positive triple-impact companies such as Grupo Sylvestris, which develops large-scale reforestation projects as a tool for CO₂ capture and emissions compensation; Hispaled, which offers digital and energy-efficiency solutions using LED technology; Koiki, a sustainable last-mile logistics company; and GNE Finance, whose work focuses on eco-sustainable urban rehabilitation projects in vulnerable areas.
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