COPENHAGEN – Polyester textile-to-textile recycling start-up Syre, which was formed through a partnership with investors Vargas and H&M has successfully completed a Series A funding round that will allow it to buy the patented chemical recycling technology of North Carolina-based company Premirr.

Syre which has already negotiated a commitment from H&M to buy $600 million of its recycled polyester output over a seven year period, will now integrate Premirr technology into its business, which it says will allow it to expand and scale its operation across the globe.