Shinkong invested $10 million in Ambercycle

Fashion brands and other companies are expected to need 7 million metric tons of decarbonized polyester in 2026, a 40 percent increase compared to 2015, as they try to boost circular economies and reduce the extraction of virgin materials and greenhouse gases.

Now polyester manufacturer Shinkong Synthetic Fibers Corporation is seeking to profit from that trend. The Taipei-based firm is investing $10 million in Ambercycle, a Los Angeles-based textile innovator and plastic recycler.

"This investment signifies a crucial milestone in our endeavor to make circular materials widely available," said Ambercycle Co-founder and Chief Executive Shay Sethi in an August 3 press release. "This investment enables us to scale up to meet the growing demand of our customers and push the boundaries of sustainable textile production."

Ambercycle and Shinkong have been working together for three years. This expansion of their relationship will finance the construction of Ambercycle’s first commercial plant. Slated to open in 2026, this new state-of-the-art facility that will leverage the company’s molecular regeneration technology and Shinkong's experience in the premium polyester market to make regenerated yarns and cycora, a proprietary material made from textile waste.

"Investing in their new facility is not just a strategic move,” said Eric Wu, chairman at Shinkong Synthetics. “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." ce/jd