Shinkong invests US$10 million into LA based commercial plant that produce decarbonized recycled polyester yarn

Category: YARNS

Country: Taiwan

Region: Asia

Ambercycle’s proposed facility to produce decarbonized polyester in 2026

By The Asset
19th August 2024

Taiwanese polyester manufacturer Shinkong Synthetic Fibers Corp has strengthened its partnership with material science company Ambercycle through a strategic US$10 million investment into Los Angeles-based Ambercycle’s first state-of-the-art commercial plant that produces decarbonized polyester and is set to open in 2026.

Shinkong’s contribution to the facility will help expand global production capacity for its premium material made from end-of-life textiles. It builds on three years of collaboration that harnessed Ambercycle’s molecular regeneration technology and Shinkong’s experience in the premium polyester market to jointly manufacture regenerated yarns.

Demand for decarbonized polyester is expected to reach approximately 7 million metric tonnes annually in 2026, up from 5 million metric tonnes in 2015, as more brands seek out circular materials to reach their sustainability goals.

Ambercycle’s expansion will enhance their ability to support circularity and scale next-gen materials within the textile industry, aligning with global efforts to transition towards more decarbonized production practices.

“This investment enables us to scale up to meet the growing demand of our customers and push the boundaries of sustainable textile production,” says Shay Sethi, Ambercycle’s co-founder and CEO.

Eric Wu, Shinkong Synthetics’ chairman, adds: “Investing in their new facility is not just a strategic move – it’s a commitment to pioneering a future with decarbonized polyester, which we see as critical to our business. This collaboration will further amplify our capacity to deliver high-performance, sustainable products to the global market.”

Courtesy: Theasset.com