Drive Catalyst, the venture capital arm of the Far Eastern Group, is making a strategic investment in Circ to promote the development of a textile-to-textile recycled polyester supply chain at scale.

From left to right: Juliana Pidner Hsu, Managing Director of Drive Catalyst; Peter Majeranowski, CEO of Circ

Taipei, Taiwan and Danville, Virginia (May 28, 2024) – Drive Catalyst, the venture capital arm of the Taiwanese conglomerate Far Eastern Group—one of the world’s largest producers of both virgin and recycled polyester—has invested in Circ®, a US-based textile-to-textile recycler. This investment is set to propel the textiles industry towards circularity by facilitating the production of high-quality Circ Polyester, which utilizes chemical building blocks derived from recycled polycotton textile waste. 

By combining Far Eastern’s world-class manufacturing capabilities with Circ’s pioneering technology in textile-to-textile recycling, this partnership is uniquely positioned to help scale the manufacturing of textile-to-textile recycled polyester. Through the company’s investment in Circ, Far Eastern aims to promote a significant change in the industry, bringing in over 70 years of textile supply chain unique end-to-end service to this sector toward a closed-loop alternative. 

Far Eastern’s support will enable Circ to address the challenges of scaling up production to meet the demands of large fashion brands and their customers. The fashion industry is transforming towards more sustainable practices, with brands and consumers seeking alternatives to traditional materials. Circ’s closed-loop alternative offers a compelling solution, and by leveraging Far Eastern’s industry expertise, Circ can deliver on the promise of sustainability at scale.

“It is crucial that leaders in the polyester supply chain, like ourselves, set an example by establishing a foundation for collaborative models,” states Juliana Pidner Hsu, Managing Director of Drive Catalyst. “We are deeply committed to the circular economy and believe that textile-to-textile recycling will play a pivotal role in decarbonizing raw materials. Our dedication to supporting innovative solutions aligns with our customers’ strong demand for sustainable fashion. To drive significant systemic changes may take time and require collaboration. With Circ’s high-quality materials and the growth potential of its technology, we believe this partnership is a meaningful step towards scaling circularity.”

Integrating Circ’s recovered monomers from recycled textile waste into Far Eastern’s production infrastructure could represent a significant advancement towards a circular economy in the textile industry. This move would reduce reliance on virgin resources and minimize waste by diverting end-of-life textiles from landfills. The collaboration is a testament to both companies’ commitment to driving positive change in the industry and meeting the demands of environmentally conscious consumers.

“Funding is just one factor when introducing innovation to an industry as old and established as textiles,” said Peter Majeranowski, CEO of Circ. “We seek mission-aligned partners with wide-reaching expertise because no portion of the industry works in a silo. Far Eastern Group’s support not only speaks to the integrity of our polyester but will enable the acceleration of Circ Polyester from recycled textile waste and play an instrumental role as we work towards launching Circ’s first commercial facility.”