GAP (GAP), Target (TGT), and Houdini Sportswear have joined textile recycling firm Syre as partners in the company's commercial expansion.
Launched in March 2024, Syre is building a textile-to-textile recycling plant in North Carolina, which is scheduled to be operational in 2026, delivering volumes up to 10,000 metric tons of recycled polyester annually.
GAP plans to use 10,000 metric tons per year of Syre's recycled polyester chip, while Target plans to add textile-to-textile recycled polyester to some of its brand products.
Syre was co-founded by H&M and investment group Vargas, Reuters reported Tuesday. The textile recycling firm, which expects to produce more than 3 million metric tons of polyester in 2032 by recycling used garments, entered a long-term agreement with H&M last year worth over $600 million over seven years.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。