The International Textile Manufacturers Federation (ITMF) has announced the winners of its 2024 Start-Up Award, which aims to honor startups with innovative and transformative ideas that could significantly impact the textile sector.
Four companies were recognized this year. These are RE&UP Recycling Technologies (Netherlands); Sci-Lume Labs (USA); Sycoretec CAS (China) and Syre (Sweden).
RE&UP Recycling Technologies has secured a €70 million loan from Proparco to construct a new textile-to-textile recycling facility in Gaziantep, Turkey. The facility will use advanced mechanical and thermomechanical technologies, leveraging Turkey’s long-standing expertise in fiber processing.
Based in Oklahoma, Sci-Lume Labs is developing a patent-pending synthetic fiber called Bylon, a bio-based and biodegradable alternative to conventional nylon. They are collaborating with Fibre Extrusion Technology Limited (FET) from the UK to advance the development of Bylon, which aims to make synthetic fibers more environmentally friendly.
Beijing-based startup Sycoretec CAS is focused on integrating high-performance macromolecules into fabrics using advanced microencapsulation techniques. Their technology is designed to react to temperature changes and achieve thermal equilibrium in apparel, enhancing comfort and performance.
A new venture initiated by Vargas and H&M Group, Syre has raised $100 million in Series A funding. The company plans to build multiple plants worldwide to produce circular polyester via chemical recycling, aiming to cut CO2 emissions by up to 85% compared to traditional oil-based polyester production.
The winners were presented with their awards at the ITMF and International Apparel Federation (IAF) Conference, which was held from September 8-10, 2024, in Samarkand, Uzbekistan.
