Syre’s launch partners Gap, Houdini and Target will be responsible for introducing the company’s circular polyester to the wider market and advancing its implementation.
The company, which was introduced in March last year by global investor Vargas and Swedish retailer H&M Group, builds textile-to-textile plants that manufacture circular polyester. It says this process could potentially lower CO2e emissions by up to 85% compared to traditional oil-based polyester manufacturing.
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Syre has revealed plans for its inaugural plant in North Carolina, which is set to commence operations in 2026 with an annual production capacity of 10,000 metric tons (mt) of circular polyester.
US apparel retailer Gap Inc. intends to incorporate 10,000mt of Syre’s recycled polyester annually into its brands such as Old Navy, Gap, Banana Republic, and Athleta. This move aligns with the company’s strategy to integrate sustainable materials into its product offerings.
Gap global sustainability vice president Dan Fibiger said: “We’re proud to be among the first to support Syre’s innovative textile solutions. This partnership enables us to accelerate our progress toward realising a more circular fashion industry.”
Outdoor clothing company Houdini Sportswear plans to source half of its polyester from Syre’s circular polyester for three years, making it the primary material for its products. The brand is on a mission to achieve a circular and zero-waste ecosystem by 2030.
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By GlobalDataHoudini co-founder and chief creative officer Eva Karlsson said: “In partnership with Syre’s ambition, we are closing in on that vision.”
US retailer Target will use Syre’s textile-to-textile recycled polyester on selected owned brand products.
The company, which operates nearly 2,000 stores, wants all of its own brand products to be designed for a circular future by 2040.
Syre CEO Dennis Nobelius said: “We are thrilled to announce our partnerships with these esteemed and forward-thinking brands, representing different segments and sizes. They are truly front runners, understanding the need to secure capacity of a scarce resource to be. As we embark on the next phase of scaling at speed, we’re confident that these collaborations will not only bolster commercial success but also help redefine the industry and drive the urgent shift towards true circularity.”
Some recent market research conducted by Syre and McKinsey suggests an expected annual supply-demand gap of 10-12m tons for textile-to-textile recycled polyester by 2030.
It says the demands for circular materials is set to rise with increasing commitments from brands for circularity and upcoming regulations.
In May last year (2024), Syre secured a $100m Series A funding round for the construction of a blueprint plant in the US and its first two gigascale textile-to-textile recycling plants in Vietnam and Iberia.
This April, the company signed a memorandum of understanding (MoU) with the province’s authorities of Binh Dinh, Vietnam, for the development of its first gigascale recycling facility.
