Who gains from saving nature
Ledger 1 : 33 — For each dollar financing nature-based solutions in 2023, about $33 financed activities harmful to nature. (UNEP)
Cases / Finance, funds and markets · United States · 2025

Mylo mycelium leather halted in July 2023 for lack of financing

Short record: the main facts, with sources. A full case file has not been prepared.

Nature's voice · report
No measurement of the harm done to me here is on record.
Did nature suffer? Not measured.
Not on record
  • The record does not name which of my species, waters, soils or forests were harmed.
What the record lacks: 4 insufficient · 1 not measured · 1 disputed See the gaps

Mylo mycelium leather, used by Stella McCartney and Lululemon, stopped production in July 2023 after no financing was found. MycoWorks, another mycelium leather maker, went bankrupt in October 2025.

What?
Mylo mycelium leather production stopped in 2023; MycoWorks went bankrupt in 2025 FashionUnited
Where?
United States, including a MycoWorks plant in South Carolina Wikipedia
When?
July 2023 and October 2025 FashionUnited
Who?
Gained
None on record
Lost
  • MycoWorks creditors — Assets liquidated for creditors' benefit; intellectual property sold to a private equity fund Wikipedia
Harmed
None on record
Why?
Not stated in the sources reviewed.
How?
Production halted for lack of financing FashionUnited
6 of 6 questions answered from the record

What happened

The record, in order.

Mylo mycelium leather production was stopped in July 2023 after no financing was found, FashionUnited reported.

Stella McCartney and Lululemon had used Mylo, FashionUnited reported.

MycoWorks went bankrupt in October 2025; its South Carolina plant closed and its intellectual property was sold to a private equity fund, according to Wikipedia.

Bolt Projects reported 2024 revenue of $1.37 million and a net loss of $65.4 million.

    In court and with insurers

    Every proceeding and every insurer decision on record.

    Lawsuits and rulings

    No court case on record. No court has ruled on this case.

    Insurers

    No insurer decision on record.

    What we don't know

    Undisclosed, unproven, untried: recorded as data.

    Nature

    • Not measured Harm to nature: The record holds no measurement of harm to nature.

    Record

    • Insufficient Reported but not verified: Bolt Threads made Mylo and stopped its production in June 2023.
    • Disputed Reported but not verified: Bolt's total private funding was between $300 million and $471 million, with sources conflicting.
    • Insufficient Reported but not verified: Bolt Projects faced a Nasdaq warning and a 1-for-20 reverse share split in February 2025.
    • Insufficient Reported but not verified: MycoWorks opened its South Carolina factory in 2023 and closed it two years later.
    • Insufficient Reported but not verified: Bolt's chief executive said the company had come close to commercial scale.

    Did the harm stop?

    Not stated in the sources reviewed.

    Who paid?

    Not stated in the sources reviewed.

    Sources

    Voices on record: — Company or project— Government and regulators— Courts✓ Press and investigations— Communities and civil society— Researchers

    Press and investigations

    2. MycoWorks
      Wikipedia ·
    3. Bolt Projects reports Q4 2024 financial results
      Stock Titan (company announcement) · 2025
    Terms used on this page

    Bonds and banking

    Liquidation, insolvency, bankruptcy
    Legal processes that apply when a company cannot pay its debts; its assets are sold and claims against it may go unpaid.
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