Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the learnpress domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/307845.cloudwaysapps.com/guvzwmesxc/public_html/wp-includes/functions.php on line 6114

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the learnpress domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/307845.cloudwaysapps.com/guvzwmesxc/public_html/wp-includes/functions.php on line 6114
2024-08-15 – https://www.esgtoday.com/ambercycle-raises-10-million-for-circular-materials-plant-from-shinkong/?utm_source=rss&utm_medium=rss&utm_campaign=ambercycle-raises-10-million-for-circular-materials-plant-from-shinkong - ESGNA

Raw: [

Taiwanese polyester manufacturer, Shinkong Synthetic Fibers Corporation, announced that it has invested $10 million in […]]

Ambercycle Raises $10 Million for Circular Materials Plant from Shinkong – ESG Today

ESG Investing, sustainable finance & business sustainability news

ESG investing news, analysis, research and information

Top Stories ESG News
Companies
Government
Investors
Regulators
Sustainable Finance

ESG Solutions ESG Tools, Services

Companies Companies

Investors Investors

ESG Disclosure ESG Reporting
Analysis
Regulators
Reports, Studies

Newsfeed
Whitepapers
Events
About About us
Our Team
Advertise With Us

Companies/ Environment

Ambercycle Raises $10 Million for Circular Materials Plant from Shinkong

Susan Lahey

August 14, 2024

Taiwanese polyester manufacturer, Shinkong Synthetic Fibers Corporation, announced that it has invested $10 million in circularity-focused materials sciences company Ambercycle’s first commercial plant, aimed at producing premium materials from end-of-life textiles, expected to open in 2026.
Founded in 2015, Los Angeles-based Ambercycle takes end-of-life fabrics, shreds them, separates them into their base materials, removes dyes and finishes, and resells the materials to manufacturers. From polyester, the company creates a product called cycora which is purified, regenerated PET, reconstituted into virgin-grade pellets to make low, carbon, circular polyester. Shinkong and Ambercycle have collaborated for several years, combining their expertise to jointly manufacture regenerated yarns.
Shay Sethi, Co-founder and CEO of Ambercycle, said:
“This investment signifies a crucial milestone in our endeavor to make circular materials widely available. 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.”
According to Shinkong, the investment comes as demand for decarbonized polyester is expected to reach approximately seven million metric tons annually in 2026, up from five million metric tons in 2015, as more brands seek out circular materials to reach their sustainability goals.
Eric Wu, Chairman at Shinkong Synthetics, said:
“Recognizing Ambercycle’s leadership in circular solutions, we are eager to support their expansion. 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.”
Shinkong said its Shinkong Synthetic Fibers division has invested significant resources to develop recycled fibers and biological polyesters, and is committed to reducing oil dependence and carbon emissions.

Susan Lahey

Susan Lahey started her career as a business reporter for The Kansas City Star and has worked as a freelancer covering business, investment, technology, sustainability and science for numerous publications. She has also worked as a writer and editor for publicly funded projects mandating environmental cleanup of a molybdenum mine in Northern New Mexico; and recovery and resiliency measures following Hurricane Maria in Puerto Rico. Recently she worked as Director of Communications for a European wave energy company.

Related Posts

Companies /

Rio Tinto, BHP, Qantas Invest $53 Million in New Nature-Based Carbon Credit Fund

Environment /

Finnish Startup Collo Raises €5 Million for Tech Enabling Industrial Plants to Cut Costs, Emissions and Waste

Companies /

Microsoft Partners with Pivot Energy to Develop Community Solar Projects to Help Tackle Scope 3 Emissions

‹ Finnish Startup Collo Raises €5 Million for Tech Enabling Industrial Plants to Cut Costs, Emissions and Waste

ESG Today Newsletter – Subscribe

Subscribe to the ESG Today NewsletterJoin our mailing list for the latest breaking ESG investment news!

LevelC-LevelSVP / EVPDirector / VPManager / SupervisorMid or Entry LevelFreelance / ContractStudent / InternRetiredOther

FunctionAccounting & FinanceBusiness Development & SalesCustomer SupportFacilitiesHR & TalentInvestingLegalMarketing & CommunicationsOperationsR & DProcurement & ContractingSupply Chain & DistributionSustainabilityStrategyTechnologyOther

SUBSCRIBE!

You have Successfully Subscribed!

Sustainable Finance

Standard Chartered Rolls Out ESG-Linked Cash Accounts for Corporate Clients

Iberdrola Raises $525 Million in Green Bond Offering to Invest in U.S. Network

BBVA Achieves Record $28 Billion Sustainable Finance Activity in Q2 2024

Citi, IFC Launch $2 Billion Sustainable Supply Chain Finance Program for Emerging Markets

Government

SEC Defends its Climate Disclosure Rule in Court

UK to Introduce Law to Regulate ESG Ratings Providers

EU Commission Publishes CSRD FAQ to Help Companies Implement New Sustainability Reporting Rules

UK Sets Largest-Ever £1.5 Billion Budget for Renewable Energy Auction, Largely Targeting Offshore Wind

Categories
Select Category
Business Wire
ESG News
Welcome

Back to Top

Home
About us
Disclosure, cookies & privacy policy

© ESG Today 2024

Don’t miss the top ESG stories!Join the ESG Today daily newsletter and get all the top ESG stories, like this one.
Subscribe now below!

LevelC-LevelSVP / EVPDirector / VPManager / SupervisorMid or Entry LevelFreelance / ContractStudent / InternRetiredOther

FunctionAccounting & FinanceBusiness Development & SalesCustomer SupportFacilitiesHR & TalentInvestingLegalMarketing & CommunicationsOperationsProcurement & ContractingR & DStrategySupply Chain & DistributionSustainabilityTechnologyOther

SUBSCRIBE!

You have Successfully Subscribed!

Never miss the latest breaking ESG investment news. Get ESG Today’s newsletter today!

Subscribe Now

c