Far Eastern Group believes its manufacturing expertise combined with Circ’s textile-to-textile recycling technology will be able to deliver a closed-loop alternative with circularity at scale.
Far Eastern will support Circ address the challenges of scaling up production to meet the demands of large fashion brands and their customers.
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Juliana Pidner Hsu, the managing director of Far Eastern Group’s venture capital arm, Drive Catalyst explained: “It is crucial that leaders in the polyester supply chain, like ourselves, set an example by establishing a foundation for collaborative models.
“We are deeply committed to the circular economy and believe that textile-to-textile recycling will play a pivotal role in decarbonising raw materials.”
She also pointed out that significant systemic changes may take time and require collaboration, but she believes Circ’s high-quality materials and the growth potential of its technology combined with the Far Eastern Group’s partnership will push it forward towards scaling circularity.
Circ’s CEO Peter Majeranowski added: “Funding is just one factor when introducing innovation to an industry as old and established as textiles. We seek mission-aligned partners with wide-reaching expertise because no portion of the industry works in a silo.”
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By GlobalDataHe is confident Far Eastern Group’s support speaks for both the integrity of Circ’s polyester and the fact it will enable the acceleration of Circ Polyester from recycled textile waste as well as play an instrumental role as the company works towards launching its first commercial facility.
Both Far Eastern Group and Circ asserted that integrating Circ’s recovered monomers from recycled textile waste into Far Eastern’s production infrastructure could represent an advancement towards a circular economy within the textile industry.
The duo noted the move would reduce reliance on virgin resources and minimise waste by diverting end-of-life textiles from landfills. The collaboration is a testament to both companies’ commitment to driving positive change and meeting the demands of environmentally conscious consumers.
Circ claims to be the only platform to successfully separate polycotton blended textile waste and recover both cellulosic and synthetic fibres. It said it is seeking partners that demonstrate product quality, reinforce its mission and embrace the move towards a closed-loop textile industry.
