Shinkong Synthetic Fibers Corp, a global polyester
manufacturer, strengthens its partnership with Ambercycle through a
strategic $10 million investment into
Ambercycle's first commercial plant.
LOS ANGELES and TAIPEI, Aug. 13,
2024 /PRNewswire/ -- Shinkong Synthetic Fibers
Corporation, a global leader in polyester production, has invested
$10 million in Ambercycle's first
state-of-the-art commercial facility.
Shinkong's contribution to the leading material science
company's 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 extensive experience in the
premium polyester market to jointly manufacture regenerated yarns
and meet the growing demand for cycora® material.
"This investment signifies a crucial milestone in our endeavor
to make circular materials widely available," said Shay Sethi, Co-founder and CEO of
Ambercycle. "We are excited to deepen our partnership with
Shinkong. This investment enables us to scale up to meet the
growing demand of our customers and push the boundaries of
sustainable textile production."
Demand for decarbonized polyester is expected to reach
approximately 7 million metric tons annually in 2026, up from 5
million metric tons in 2015, as more brands seek out circular
materials to reach their sustainability goals.
"Recognizing Ambercycle's leadership in circular solutions, we
are eager to support their expansion," stated Eric Wu, Chairman at Shinkong Synthetics.
"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."
Ambercycle expects to commence operations at the new facility in
2026, further strengthening the partnership between both companies.
This strategic expansion will significantly 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.
About Shinkong Synthetics
Shinkong Synthetic Fibers Co., Ltd. is a leader in Taiwan's polyester industry and one of
the important polyester manufacturers in the world. Founded in
1967, having more than half a century of rich experience
and occupies an important position in the fields of polyester
fiber, polyester granules, polyester film and engineering
plastics etc.
As one of the core enterprises of Shinkong Group, Shinkong
Synthetic Fibers Co. is committed to innovation and
sustainable development. The company continues to invest in
research and development to develop high-quality
and high-value-added products, including functional fibers and
environmentally friendly fibers. In recent years, having
actively responded to the global sustainable development trend
and vigorously promoted green manufacturing and circular
economy.
In terms of environmental protection, Shinkong Synthetic Fibers
Co. has invested a lot of resources to develop recycled fibers and
biological polyesters, and are committed to reducing oil
dependence and carbon emissions. The company also implements a
strict environmental management system and strives to reduce energy
consumption and waste emissions in the production process.
About Ambercycle
Ambercycle is powering circularity in fashion. Established
in 2015, this Los Angeles-based
company is revolutionizing the fashion industry with its
award-winning molecular regeneration technology. cycora®
regenerated polyester is the company's first premium material
solution made from end-of-life textiles. Driven by the vision to
improve humanity's relationship with materials, Ambercycle is
minimizing the impact of raw material extraction on our environment
and paving the way to decarbonize fashion.
Contact: press@ambercycle.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/shinkong-invests-10m-in-ambercycles-new-facility-to-commercialize-circular-polyester-innovation-302221261.html
SOURCE Ambercycle