Syre develops textile-to-textile recycling technology that produces circular polyester with quality comparable to virgin polyester while delivering improved sustainability performance. The company’s core solution targets hyperscale recycling starting with polyester to reduce emissions and waste in the textile supply chain. Syre acquired a patented recycling technology developed over more than nine years by North Carolina–based Premirr, which demonstrated energy-efficient conversion of post-consumer waste into circular polyester that can be rapidly scaled. The company plans to finance and commission a blueprint plant in the U.S. later this year and to build its first two gigascale textile-to-textile recycling plants. Syre was founded in 2023 and is led by CEO Dennis Nobelius. The company raised significant equity capital in the round described below to fund plant construction and technology acquisition.

Total raised

$100M

Funding rounds

1

Latest round

Series A

Latest activity

May 2024