€70m loan propels RE&UP’s expansion - insidedenim: Glo InsideDenim

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€70m loan propels RE&UP’s expansion

25/07/2024
€70m loan propels RE&UP’s expansion
RE&UP Recycling Technologies, the “circulartech” venture of Turkish textiles group Sanko, has received a €70 million loan from Proparco which will support the construction of a new textile-to-textile recycling facility in Gaziantep, Turkey.

The facility will include 8.4MW rooftop solar panels, enabling 100% of its power to be from renewable sources.

This will contribute significantly to reducing its water and carbon footprint, said the company.

Proparco is a development finance institution partly owned by the French Development Agency and private shareholders.

Earlier this month, we reported that RE&UP has ambitious global plans: It aims to recycle 1 million tonnes of waste annually, on a global basis, by 2030 and has a new site earmarked for Spain.

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