Vietnamese Prime Minister Pham Minh Chinh met with Syre Chair Susanna Campbell of Sweden last year. (Photo: Syre)
Textile recycling startup Syre plans to invest USD 750 million in a fabric recycling facility in Gia Lai Province, central Vietnam, offering clients such as Nike and Target an alternative supply chain solution outside China.
The company has also pledged to run on 100% renewable energy, with the project expected to secure green electricity via a direct power purchase agreement (DPPA).
When will Syre’s Vietnam recycling plant begin operations?
Syre Chief Operating Officer Tim King told Nikkei Asia that construction is scheduled to begin in 2027, with operations set to start in 2029. Over the long term, the company aims to recycle 3 million tonnes of polyester —equivalent to around 4% of global output.
Unlock the full article to explore three key takeaways:
- Syre will invest USD 750M in a Gia Lai, Vietnam textile recycling plant, operational by 2029.
- The facility commits to 100% renewable power, sourced via DPPA from a nearby 750 MW wind project.
- Syre targets 3 million tonnes of recycled polyester—about 4% of global output—and up to 10 Asian plants.