Shinkong Invests $10M in Ambercycle's New Facility to Commercialize Circular Polyester Innovation

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: [email protected]

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SOURCE Ambercycle