A Turkish company that converts olive waste into faux leather has attracted the attention of global clothing, automotive and furniture companies that use this material in their products.

Oleatex, a vegetable leather manufacturing company, introduced its "eco-friendly" products at the "ECO-CLIMATE Economy and Climate Change Summit and Exposition", where Anadolu Agency was the "global communication partner".

Oleatex Co-Founder Eşref Hilmi Açık told AA reporter that they started working about 3 years ago with a 12-person R&D team consisting of young scientists who dedicated themselves to sustainability as well as Turkey's elite universities .

Stating that they founded the company with a budget of 100 thousand lira, Açık said, "The foreign companies that we follow closely in the sector are trying to increase their capacity by receiving investments of 15-20 million dollars on average." said.

Açık stated that they have not yet made a company assessment and according to the value that their product created ant the feedback that they received from international companies, they think that the company has reached a value of about $ 50 million..

Açık stated that they are in negotiation with the world's significant fashion, automotive and furniture companies using faux leather yet, they have to talk anonymously because they have confidentiality agreements, and described the product they manufacture as "vegetable-based leather".