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Loop Industries, Inc. (NASDAQ: LOOP) is a pioneering technology company dedicated to propelling the transition to sustainable plastics. Specializing in the production of purified terephthalic acid (PTA) and ethylene glycol (EG), Loop Industries utilizes patented technology to transform low-value and waste PET plastic and polyester fiber into high-quality PET resin and polyester fiber. This innovative process includes using degraded ocean plastics, thereby promoting a circular economy and reducing the reliance on fossil fuels.
Loop Industries' core business revolves around its proprietary depolymerization technology, which breaks down PET waste into base monomers and repolymerizes them into virgin-quality products. Their branded PET resin meets stringent standards for use in food-grade and pharmaceutical packaging, as well as in cosmetics and polyester textiles.
Recently, Loop Industries announced a strategic partnership with Reed Management, a European investment firm, to commercialize its technology in Europe with a focus on high-impact and technology-enabled infrastructure projects. This partnership is expected to provide US$66 million in non-dilutive financing for global technology commercialization.
Further, Loop Industries has collaborated with Bormioli Pharma to unveil sustainable pharmaceutical packaging and formed a joint venture with Ester Industries to build an Infinite Loop™ manufacturing facility in India. These strategic alliances are designed to meet the growing demand for sustainable packaging solutions and specialty polymers globally.
Loop Industries continues to advance its mission through its Infinite Loop™ technology, which facilitates the recycling of the lowest quality PET and polyester waste into high-purity recycled products. This approach not only addresses environmental concerns but also helps consumer goods companies achieve their sustainability goals.
Common shares of Loop Industries are listed on the NASDAQ Global Market under the symbol LOOP. For more information, visit www.loopindustries.com and follow Loop on social media platforms.
Loop Industries (Nasdaq: LOOP) announced that CFO Fady Mansour and Head of Investor Relations Kevin O'Dowd will attend the 2024 KeyBanc Capital Markets Industrials and Basic Materials Conference from May 28-30 at The Westin Boston Waterfront Hotel. The company will engage in one-on-one meetings with institutional analysts and investors, highlighting their innovative recycling technology and strategic initiatives for sustainability in the plastics industry. The focus will be on Loop's role in promoting a circular economy through 100% recycled PET plastic and polyester fiber production.
Loop Industries (Nasdaq: LOOP) has partnered with Swiss sportswear brand On to launch the Cloudeasy Cyclon shoe. This innovative footwear is made using Loop's Infinite Loop™ fiber-to-fiber recycling technology, crafting its upper from 100% recycled polyester fiber. The partnership aims to set a new standard for sustainable footwear by creating a closed-loop system that minimizes waste and maximizes sustainability. The recycled polyester fiber, produced at Loop's facility in Quebec, reduces carbon emissions by up to 79%. The Cloudeasy Cyclon will be available through On's subscription service, Cyclon™.
Loop Industries and Ester Industries have announced a joint venture agreement to build an Infinite Loop(TM) manufacturing facility in India. The facility will produce rDMT, rMEG, and specialty polymers from waste polyesters with a significantly lower carbon footprint. The total capital investment is estimated at approximately US$165 million, with construction expected to be completed by the end of 2026 and commercial operations commencing in early 2027. The partnership aims to target the undersupplied US$28 billion market for DMT and MEG, offering high projected returns due to favorable industry pricing and a low operating cost environment.
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