Syre Textile-to-Textile Circular Polyester

Syre is a textile impact company founded in 2023 in Stockholm, Sweden, initiated by H&M Group and Vargas Holding with founding investors including TPG Rise Climate, Norrsken VC and Volvo Cars. It targets the emissions and waste of the textile industry, where polyester is the dominant fibre and most recycled polyester still comes from bottles rather than old garments.

Syre recycles post-use textile waste back into high-quality PET chips that are spun into circular polyester with performance on par with virgin polyester. A blueprint plant in North Carolina, developed with Selenis, is followed by gigascale plants of 100,000 to 250,000 tonnes of output per year each, the first planned in Vietnam with construction slated for 2027. Buyers are apparel, automotive and home interior brands such as Nike, Target, Gap Inc. and Houdini.

• Textile-to-textile recycling: converts post-use polyester textile waste back into new polyester instead of downcycling.
• PET chip output: produces high-quality PET chips that spinners turn into fibre and yarn.
• Virgin-equivalent quality: performance on par with virgin polyester for apparel, automotive and interior uses.
• Gigascale plants: each plant is designed for 100,000 to 250,000 tonnes of output per year.
• Vietnam hub: first gigascale plant planned in Vietnam, close to Asian garment and textile clusters.
• Brand partnerships: multi-year supply agreements with Nike, Target, Gap Inc. and Houdini.

Vietnamese garment and textile groups can supply cutting scrap and offcuts as feedstock and buy back circular polyester yarn for orders from Nike, Target or Gap. Spinners and weavers in Vietnam can add textile-to-textile recycled polyester to their material catalogues for export brands. Industrial parks and provinces can partner on collection, sorting and green energy for recycling plants.

Syre states its circular polyester cuts CO2e by up to 85% compared with oil-based virgin polyester. Quality is reported on par with virgin polyester and better than bottle-to-fibre rPET, so brands can switch without downgrading products. Long-term offtake partnerships give brands secured volumes of textile-to-textile recycled content ahead of EU and US extended producer responsibility rules.

Global brands are under pressure from EU textile rules and US state EPR laws to raise recycled content from real textile waste, while bottle-based rPET supply is limited. Vietnam is one of the largest garment exporters and generates large volumes of pre-consumer polyester scrap, making it a natural location for closed-loop recycling capacity serving Asian supply chains.

Founded 2023, headquartered in Stockholm, Sweden. Raised a USD 100 million Series A in May 2024. Signed an MoU with Binh Dinh province, Vietnam, in April 2025. Partners include Selenis, ABB and JEPLAN. Tim King was appointed CEO in October 2026.