Syre, a Swedish startup, made significant strides in 2025, focusing on textile-to-textile recycling to reduce waste and decarbonize the textile industry. The company's blueprint plant in Cedar Creek, North Carolina, became operational in mid-2025, with a capacity of 10,000 metric tons of circular polyester annually.
Syre has established key partnerships to advance its recycling efforts. H&M Group, along with Vargas Holding and TPG Rise Climate, co-founded Syre in March 2024, committing to a $600 million offtake agreement. A strategic partnership with Selenis was announced in October 2024 to establish a recycling plant in North Carolina.
In April 2025, Syre announced plans to invest between $700 million and $1 billion in a recycling facility in Vietnam. This facility is designed to process approximately 250,000 metric tons of textile waste annually. Syre's initiatives align with the industry's move towards sustainable practices, contributing to a circular economy.