Sanko Group's RE&UP Recycling Technologies has secured a €70 million ($75.98 million) loan from Proparco to scale its next-generation recycled fiber production and textile recycling capacity, significantly reducing its carbon and water footprint. The funding will support the construction of a new textile-to-textile recycling factory in Gaziantep, Türkiye, featuring 8.4MW capacity rooftop solar panels for self-consumption.

Proparco, highlighting the textile industry's substantial carbon footprint—accounting for 10% of global emissions in 2023—emphasized that decarbonizing energy supply and recycling initiatives are crucial for the sector's sustainable transformation. The new factory will utilize 100% renewable energy, contributing to the industry's green transition.

“We as Proparco are proud of supporting RE&UP Recycling Technologies backed by Sanko Group in their textile recycling investment through which amplified effects on the decarbonisation of the industry will be achieved,” stated Stéphane Froissardey, regional director of Proparco. This loan, the second financing provided by Proparco to Sanko Group, strengthens their collaboration towards sustainable future goals.

Fatih Konukoglu, vice chairman of Sanko Holding and chairman of RE&UP Recycling Technologies, expressed gratitude for Proparco’s support, stating, “This new investment will significantly enhance the ability of RE&UP to scale its next-gen recycle fiber production and textile recycling capacity to 1m tons by 2030. Together, we are paving the way for a transformative, greener future in our industry.”