Swedish textile recycler to build gigascale factory in Vietnam
Syre, a Swedish textile recycling company, plans to build its first gigascale factory in central Gia Lai province of Vietnam, expecting to break ground in 2027.
In April 2025, the Vietnamese government and Syre signed a Memorandum of Understanding (MoU) to accelerate textile-to-textile recycling with Syre’s first gigascale recycling factory in Vietnam, with a US$ 100 million Series A funding.
Representatives from the Vietnamese government and Syre in the MoU signing ceremony in April 2025.
The gigascale recycling project will focus on recycling polyester textile waste into high-quality PET pellets used as raw materials for the spinning and garment industries.
Syre aims at establishing several Gigascale textile-to-textile recycling plants across the globe in the coming decade, closing the loop from textile waste to circular polyester in each region. One Gigascale plant is designed for an annual output of 100-250,000 metric tons of high-quality PET chips.
Furthermore, Syre has a multi-year agreement with leading sports brand NIKE, Inc. recently, to contribute to a circular materials future for the global apparel industry and beyond.
Syre and Nike has a multi-year agreement to accelerate circular material development in apparel industry.
It will focus on step-by-step integration of Syre’s circular polyester into core Nike performance lines, with the first products expected within the next few years. Syre will be Nike’s lead strategic supplier for textile-to-textile recycled polyester.
“Having Nike, the global leader in sportswear and innovation, commit to textile-to-textile generated polyester sends a powerful signal to the entire industry. This is not a one-off initiative or capsule collection, this is a moment when circular materials move from concept to commercial reality at scale and wider adoption,” said Dennis Nobelius, CEO of Syre.
