Syre utilizes textile-to-textile recycling technology to produce circular polyester that matches the quality of virgin polyester while reducing CO2e emissions by up to 85%. This approach addresses the textile industry's significant contribution to global CO2e emissions and the low recycling rates of end-of-life textiles, which often end up in landfills or incinerated.
Funding
$100M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
TRFounders
Product
Problem
The textile industry significantly contributes to global CO2e emissions, with less than 1% of the global textile fiber market derived from recycled textiles. Most end-of-life textiles are incinerated or end up in landfills, and the production of virgin polyester, the most widely used textile fiber, relies on crude oil.
Solution
Syre employs textile-to-textile recycling technology to produce circular polyester that matches the quality of virgin polyester. This approach reduces CO2e emissions by up to 85% compared to traditional oil-based virgin polyester production. By recycling end-of-life textiles, Syre offers a sustainable alternative that addresses the environmental impact of the textile industry and promotes a circular economy. The company aims to produce 2 million metric tons of circular polyester by 2032, equivalent to 16 billion t-shirts, and abate 12 million metric tons of CO2e.
Target Audience
Syre's primary customers are fashion brands and textile manufacturers seeking sustainable alternatives to virgin polyester to reduce their environmental footprint.
Features
- Textile-to-textile recycling process that transforms end-of-life textiles into new polyester fibers.
- Circular polyester with quality comparable to virgin polyester.
- Reduces CO2e emissions by up to 85% compared to oil-based virgin polyester production.
- Scalable production capacity with plans for multiple production plants worldwide.