We are a textile impact company decarbonizing and dewasting the industry through textile-to-textile recycling. At hyperscale.
Textiles and waste - the growing global challenge
The textile industry today accounts for up to 10% of global CO2e emissions1
Less than 1 % of the global textile fiber market comes from recycled textiles2 and the majority of all end-of-life textiles are incinerated or end up in landfills
Polyester is the most widely used and fastest growing textile fiber in the world with 60 million tons produced annually3, however virgin polyester is produced by crude oil and bottle-to-fiber recycled polyester is, unlike textile-to-textile, also linear.
1 European Parliament, 2021
2 Textile exchange, 2022
3 Textile exchange, 2022
up to 85% less CO2e compared to the production of oil-based virgin polyester.
first blueprint plant up and running, 12 production plants at full speed worldwide by 2032.
metric tons circular polyester produced by 2032 – equivalent to 16 billion t-shirts, two for every person on Earth.
metric tons CO2e abated by 2032, equivalent to the annual emissions of +3 million petrol cars.
The Syre textile-to-textile recycling solution provides circular polyester with quality on par with virgin polyester but with superior sustainability performance, reducing CO2e by up to 85% compared to the production of oil-based virgin polyester.
Backed by proven industry leaders and disrupters
We are initiated by Vargas Holding, an investor with a proven track record of building green impact companies disrupting the industry, such as Northvolt, H2 Green Steel and Aira, and H&M Group, the leading global fashion and design company. In addition to this, TPG RiseClimate, Giant Ventures, IMAS, Norrsken VC and Volvo Cars have joined as a founding investor.
The latest news from Syre
Syre raises $100 million Series A – shortlists Vietnam and Iberia for first gigascale plants
STOCKHOLM, May 23, 2024. Syre, the textile impact company initiated by Vargas and H&M Group which launched in March this year, today announces the signing of a $100 million Series A. The funding round was led by founding investor TPG Rise Climate who was joined by an additional investment from founder H&M Group as well as the following strategic partners: · Giant Ventures Giant backs purpose-driven founders solving the world’s biggest challenges, from climate and health to inclusive capitalism. · IMAS Foundation A purpose driven sister foundation to INGKA Foundation - the owner of Ingka
New impact venture Syre launches with a mission to decarbonize textile industry
STOCKHOLM – March 6, 2024. Initiated by Vargas and H&M Group, Syre today launches to decarbonize and dewaste the textile industry through textile-to-textile recycling at hyperscale, starting with polyester. Contact: press@syre.com