Shinkong’s $10m investment will help Ambercycle expand its production capacity at its first commercial plant as demand for decarbonised polyester is expected to reach 7m metric tonnes by 2026.

Ambercycle expects to start operations at the factory by 2026, increasing its ability to provide the textile sector with next-gen materials and support decarbonised production practices.

“This investment signifies a crucial milestone in our endeavour to make circular materials widely available,” said Shay Sethi, co-founder and CEO at 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.”

Shinkong Synthetics chairman Eric Wu added: "Recognising 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 decarbonised 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.”

In June 2024 Sri-Lanka headquartered apparel manufacturer MAS Holdings signed a three-year-long supply deal with Ambercycle for its recycled polyester material Cycora.

At the time, MAS’ director of group sustainable business Nemanthie Kooragamage said: “We’re committed to revolutionising apparel product creation and manufacturing, and this collaboration is an important milestone for the industry to achieve circularity at scale.

In 2023 Spanish fashion conglomerate Inditex entered into a three-year partnership with Ambercycle, to purchase Cycora for more than €70m ($77.12m).

Production of cycora at the plant is expected to begin in 2025 and the material will be used in Inditex products over the following three years.