Syre signs MoU with Binh Dinh Province of Vietnam with intention of establishing Gigascale recycling plant

Big news from Vietnam—Syre, the textile-to-textile recycling startup backed by H&M and Volvo, just signed an MoU with Binh Dinh Province for its first Gigascale recycling plant, after raising 100 million dollars in May 2024. With access to green energy, key infrastructure, and import licenses for textile waste, Vietnam is now poised to become a circular economy hub. Here’s the twist for the paper packaging industry: as Syre scales up PET recycling, demand could spike for fiber-based alternatives to plastic packaging in the textile supply chain—so fiber converters, watch this space.https://news.cision.com/syre/r/syre-signs-mou-with-binh-dinh-province-of-vietnam-with-intention-of-establishing-gigascale-recycling,c4140182

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