Indorama Ventures and Jiaren Chemical Recycling form joint venture to boost textile recycling
Indorama Ventures, a leader in the global fiber industry, and Jiaren Chemical Recycling, a pioneer in chemical polyester recycling, have partnered to advance circularity in the textile industry. The two companies have formed a joint venture aimed at tackling textile waste while improving sustainability in the global supply chain.
The partnership is focused on recycling textile waste into high-quality polyester fibers and yarns. Together, they plan to unlock up to 100,000 tonnes of textile-recycled PET spinning capacity each year, helping to enhance the transparency and resilience of the textile supply chain. By scaling up recycling efforts, they aim to optimize the value they bring to the industry, ultimately reducing textile waste and supporting climate goals.
Indorama Ventures brings a global manufacturing network across Asia-Pacific, Europe, the Middle East, and the Americas. The company’s established regional supply chains allow brands to create local sourcing hubs that are adaptable to different markets. Jiaren Chemical Recycling, on the other hand, is known for its advanced technology in sourcing, sorting, and recycling textile waste. Their ability to process materials at scale allows brand owners to meet their climate targets while maintaining the performance and quality of their products.
Mr. Diego Boeri, Executive President of Indorama Ventures’ Fibers business, emphasized the importance of collaboration to address the textile waste crisis: “The challenge of mismanaged textile waste and the need for climate protection can’t be solved by one company alone. It requires significant investment and cooperation across the value chain. At Indorama Ventures, we believe in the power of strong partnerships. This joint venture with Jiaren is a major step toward making a circular textile economy a reality.” Indorama Ventures is backing the venture with a substantial equity investment to scale up Jiaren’s recycling capacity.
Jiaren Chemical Recycling, already one of the largest PET textile recyclers worldwide, is excited about the opportunity to expand its reach. Mr. Fang Jiayu, Jiaren’s Chief Commercial Officer, stated, “Partnering with Indorama Ventures will help us grow our capacity and make a bigger impact in solving the global textile waste problem. This partnership provides a unique opportunity to offer stable supply chains and support brand owners around the world.”
This joint venture is still awaiting regulatory approvals before it can be finalized. Once complete, it promises to be a significant step forward in the global push for sustainable textile practices.
