MAS Holdings and Ambercycle Partner on Circular Polyester Offtake Agreement Three-year offtake agreement demonstrates brand and manufacturers’ support for next-gen materials made from regenerated textile waste

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Colombo, Sri Lanka and Los Angeles, California – June 05, 2024 – MAS Holdings, a global apparel manufacturing and tech conglomerate headquartered in Sri Lanka, has joined forces with Los Angeles-based materials science company Ambercycle to scale up textile-to-textile regeneration in the apparel industry. The partnership, which centers around a three-year offtake agreement, reflects demand among large brands and manufacturers for new streams of high-quality next-gen materials made from textile-to-textile regeneration, as well as MAS and Ambercycle’s commitment to working towards a sustainable future for the apparel industry.

The agreement allows MAS to reserve capacity to utilize Ambercycle’s circular polyester material cycora® for their customer partners and enables Ambercycle to expedite efforts to reach commercial-scale production as quickly as possible. The partnership also supports MAS’s ambitious sustainability strategy, the Plan for Change, featuring twelve measurable commitments under the pillars of Product, Lives, and Planet, that the manufacturer aims to make a reality by 2025. The offtake agreement with Ambercycle will support one of the plan’s key objectives to derive 50% of MAS’ revenue from sustainable products by 2025.

“We’re committed to revolutionizing apparel product creation and manufacturing, and this collaboration is an important milestone for the industry to achieve circularity at scale,” said MAS Holdings Director of Group Sustainable Business, Nemanthie Kooragamage. “Together with Ambercycle, MAS is enabling better access to regenerated next-gen material for our customer partners. This allows brands to meet the growing demand from consumers for sustainable apparel, while creating a positive environmental impact. The partnership is an example of how manufacturers are a missing link in the adoption of material solutions, and we are excited to have opportunity to offer Ambercycle’s technology up for brand adoption.”

MAS Holdings is the first apparel manufacturer to establish an offtake with Ambercycle in its efforts to commercialize circular polyester with speed, scale, quality, and performance, providing a sustainable solution to reduce the amount of virgin polyester that enters the apparel supply chain. This partnership supports Ambercycle’s efforts in Asia, close to the value chain.

“Supply-chain partners play a crucial role in advancing our work to decarbonize fashion and minimize the impact of raw-material extraction on our environment,” added Shay Sethi, Ambercycle Co-founder and CEO. “We’re pleased to share our work with MAS as one of the premier manufacturing partners in the global apparel ecosystem. Together we share a strong commitment to diverting textiles from landfills and pioneering circularity at scale.”

Ambercycle’s circular polyester material, cycora®, is made through proprietary molecular regeneration technology and yields the same quality as virgin-grade materials, while lowering greenhouse gas emissions and reducing dependency on landfilling or incinerating end-of-life textiles.

In line with its commitment to sustainability, Ambercycle plans to establish a state-of-the-art textile regeneration facility by the end of 2025, facilitating increased production of cycora® and accelerating the transition to circularity in the apparel industry.

– Ends –

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MAS Holdings and Ambercycle team came together to commemorate their 3-year offtake partnership

(From left to right: Nipuna Gunaratne – Sustainable Product Lead, MAS Holdings; Nemanthie Kooragamage – Director, Group Sustainable Business, MAS Holdings; Suren Fernando – Chief Executive Officer, MAS Holdings, Shay Sethi, CEO & Co-founder, Ambercycle; and Moby Ahmed, CTO & Co-founder, Ambercycle)

About MAS Holdings

MAS Holdings, the largest apparel tech company in South Asia, is among the most recognized design-to-delivery solution providers in apparel and textile manufacturing. Home to a community of 100,000 people, today, MAS spans across manufacturing plants in 14 countries, with established design locations placed in key style centers across the world. Catering to the demands of a dynamic and ever-changing industry, the MAS portfolio has expanded exponentially; into brands, wearable technology, FemTech, start-ups and fabric parks worldwide.

Over 35 years of operations, MAS has gained global recognition for its ethical and sustainable working environment and for the organization’s tireless efforts in social development and women’s empowerment. Today, the company’s efforts to drive positive impact are outlined in the MAS Plan for Change, a commitment to create sustainable change under three areas of focus: products, lives, and planet. Through these initiatives, MAS aims to inspire all employees to be changemakers, enabling dreams and enriching the fabric of life on our planet.

Visit www.masholdings.com for more details.

About Ambercycle

Ambercycle is powering circularity in fashion. Established in 2015, this Los Angeles-based company is revolutionizing the fashion industry with its award-winning molecular regeneration technology. Driven by the vision to improve humanity’s relationship with materials, Ambercycle is minimizing the impact of raw material extraction on our environment and paving the way to decarbonize fashion. Ambercycle’s first solution, cycora®, is a premium fabric made from end-of-life textile waste. For more information, visit www.ambercycle.com.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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