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.
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