The textile recycling company is planning a gigascale plant in Vietnam, backed by strong local and government support.
Swedish textile impact firm Syre has signed a memorandum of understanding (MoU) with the Binh Dinh Province of Vietnam, marking a significant milestone toward establishing its first Gigascale textile-to-textile recycling plant. The plant would be one of the largest of its kind, with an annual output of up to 250,000 metric tons of high-quality PET chips. The agreement follows Syre’s $100 million Series A funding round in 2024, where Vietnam was identified as a leading candidate for the site. Key factors influencing the decision include Vietnam’s established textile industry, infrastructure and access to recyclable materials.
