# Far Eastern Group invests $5M in Ambercycle for textile recycling

Taiwanese polyester giant Far Eastern Group, through its corporate venture arm Drive Catalyst, invested $5 million in US recycler Ambercycle to help scale textile-to-textile regeneration technology.

- Type: Investment
- Announced: 2023-11-06
- Where: Los Angeles, California, United States
- Value: $5.00M
- Status: announced
- Products: circular polyester (Cycora)
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md), [Industrial Textiles](https://endata.com/sectors/industrial-textiles.md)

## Companies

- [Far Eastern Group](https://endata.com/companies/30882.md) (investor)
- [Ambercycle](https://endata.com/companies/66104.md) (target)

## Sources

- [apparelviews.com](https://www.apparelviews.com/taiwanese-polyester-giant-far-eastern-invests-5m-in-ambercycle/), 2023-11-06: "Decarbonised raw materials, such as Cycora, appeal to our customers’ demand and strong support for sustainable fashion."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.