Netherlands-headquartered Re&Up has secured a €70 million loan from Proparco, a finance institution partly owned by the French Development Agency which promotes sustainable investment.

The funding will support the construction of a new textile-to-textile recycling facility in Gaziantep, Turkey, based on advanced mechanical and thermomechanical technologies and building on the textile heritage of Turkey’s Sanko and its more than 330 patents related to fibre processing.

Re&Up is establishing two separate lines for the recycling of both cotton and polyester and as a result, says the collected waste it processes will require less sorting than other systems.

The Gaziantep operation will have the capacity to recycle an annual 200,000 tons of textile waste by 2025, with the company’s ambition to scale up to over a million tons by 2030.

The new loan will support the construction of the new textile-to-textile recycling facility in Gaziantep and also enable the company to use electricity generated from 100% renewable energy sources through the use of 8.4MW capacity rooftop solar panels.

www.reandup.com