Shinkong Synthetic Fibers Corporation, a global leader in polyester production, has invested $10M in Ambercycle’s first commercial facility.
Ambercycle aims to empower circularity in fashion. Established in 2015 and based in Los Angeles, CA, the company provides the fashion industry with a molecular regeneration technology. cycora® regenerated polyester is its first premium material solution made from end-of-life textiles.
Ambercycle expects to commence operations at the new facility in 2026, further strengthening the partnership between both companies. This strategic 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.
Commenting on the news, Shay Sethi, CEO of Ambercycle, said: “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“
FinSMEs
13/08/2024