H&M Group and Vargas Holding launch Syre, a new venture to scale textile-to-textile recycled polyesterInitiated by Vargas and H&M Group, Syre today launches to decarbonize and dewaste the textile industry through textile-to-textile recycling at hyperscale, starting with polyester. Supported by an industry ground-breaking offtake supply agreement with H&M Group, Syre will establish multiple production plants producing circular polyester across the globe, reducing CO2e emissions by up to 85% compared to the production of oil-based virgin polyester.