Hydra Ventures, a corporate venture arm of the Adidas Group, is to invest 2.0 million Canadian dollars (€1.4m-$1.9m) in Crailar Technologies, the Canadian company that produces and markets the Crailar Flax fiber. The investment comes in the form of a private placement in which Hydra Ventures will essentially buy up to 3,333,333 shares of the company at a proposed subscription price of CAD$0.60 (€0.41-$0.56) each. Launched in 2011, Hydra Ventures is dedicated to exploiting new market opportunities by creating and developing new consumer brands and trends in the apparel, footwear and sport-related areas. Special consideration is given by Hydra to companies with sustainable or socially responsible qualities. Crailar Technologies supplies its Crailar Flax to Hanesbrands, Georgia-Pacific, Tuscarora Yarns, Target Corp. and Kowa Company for commercial use, and to Levi Strauss & Co., Carhartt, Ashland, PVH Corp., Cotswold Industries, Cone Mills and Lenzing for evaluation and development. Crailar Flax is said to be produced using a fraction of water and chemical inputs compared with other natural fibers.

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