Circular economy startup Syre has announced a strategic partnership with Gap, Houdini Sportswear and Target to decarbonize and dewaste the textile industry through the accelerated adoption of circular polyester.
Launched in March 2024 by fashion and design brands company H&M Group and impact-focused Vargas, Syre aims to reduce the environmental footprint of polyester production by replacing virgin fossil fuel-based inputs with recycled fibers sourced from post-consumer textiles. This approach promises an up to 85% reduction of CO2 equivalent emissions compared to conventional polyester manufacturing.
The three companies will serve as launch partners, supporting and scaling Syre’s commercial rollout of textile-to-textile recycling across the apparel sector, and contributing to worldwide efforts to transform an industry which is considered one of the largest contributors of global waste and carbon emissions.
Each launch partner brings a distinct set of ambitions aligned with Syre’s goals. Gap, the largest specialty apparel retailer in the U.S., aims to use 10,000 metric tons of Syre’s circular polyester per year. Meanwhile, Houdini Sportswear, a leader in circular design, has committed to sourcing 50% of its polyester from Syre over a three-year period, and Target has pledged that all owned brand products will be designed for a circular future by 2040 and is incorporating Syre’s recycled polyester into selected lines.
Dennis Nobelius, Syre’s CEO, said:
“We are thrilled to announce our partnerships with these esteemed and forward-thinking brands, representing different segments and sizes. They are truly frontrunners, understanding the need to secure capacity of a scarce resource to be. As we embark on the next phase of scaling at speed, we’re confident that these collaborations will not only bolster commercial success but also help redefine the industry and drive the urgent shift towards true circularity.”
Syre raised $100 million in a Series A financing round last year, investing the capital in the construction of a new blueprint plant in the U.S. and to the establishment of its first gigascale textile-to-textile recycling plants.
The company expects a gigascale plant to produce between 100,000 and 250,000 metric tons of circular polyester annually.
Syre’s first blueprint plant, located in North Carolina, is expected to commence operations in 2026. Earlier this year, the company announced plans for its first gigascale plant in Vietnam.
These new partnerships come amid a projected shortfall of 10 to 12 million metric tons in supply of textile-to-textile recycled polyester by 2030.
Dan Fibiger, Gap’s Vice President of Global Sustainability, said:
“This partnership enables us to accelerate our progress toward realizing a more circular fashion industry. Our ambition to utilize 10,000 metric tons per year of Syre’s recycled polyester chip is not only an innovation that we feel will resonate with our customer, but it is an important lever for Gap Inc. in our efforts to bridge the climate gap.”
