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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.
Garnier, a leading beauty brand, is launching its first Micellar Cleansing Water bottle made from previously unrecyclable PET plastic waste in collaboration with Loop Industries (Nasdaq: LOOP). This innovative bottle, made from 100% recycled PET plastic using Loop's advanced depolymerization technology, aims to accelerate the circular economy by transforming low-value plastics into high-quality materials. The product will debut in April 2023 in the US and France. This initiative aligns with Garnier's sustainability goals to reduce plastic waste and promote circularity in packaging. Both companies are committed to environmental responsibility, and the Loop logo on the packaging emphasizes the bottle's recyclability.
Loop Industries (NASDAQ:LOOP) announced the appointment of Fady Mansour as Chief Financial Officer, effective April 17, 2023. Mansour brings over 25 years of financial and operational leadership experience, most recently as Senior Director at Caisse de dépôt et placement du Québec. His expertise in corporate strategy and financial planning is expected to enhance Loop's financial strategy and support its growth objectives. The company also expressed gratitude to Nicolas Lafond for his role as Interim CFO, ensuring continuity during the transition.
Loop Industries announced the successful completion of technical due diligence by SK Geo Centric (SKGC) for its Infinite Loop technology, marking a significant step in their partnership to commercialize sustainable PET plastic production across Asia. The validation confirms the efficiency of Loop's technology, ensuring virgin-quality PET resin from low-value waste. With plans to construct the first facility in Ulsan, South Korea, by late 2023, both companies aim to leverage Asia's market potential and drive circularity in PET usage. A definitive joint venture agreement is in the works to further this initiative.
Loop Industries (NASDAQ:LOOP) announced participation in the 35th Annual Roth Conference, scheduled for March 12-14, 2023, at The Ritz Carlton, Laguna Niguel. Key presenters include Daniel Solomita, Founder and CEO, and Kevin O'Dowd, VP of Communications and Investor Relations. Loop Industries is committed to fostering a circular plastics economy by producing 100% recycled polyethylene terephthalate (PET) plastic and polyester fiber. Their patented technology transforms low-value PET waste into virgin-quality resin, aligning with sustainable objectives and reducing plastic waste.
Loop Industries, in collaboration with SUEZ and SK Geo Centric, has selected the Chemesis industrial platform in Saint-Avold, France, for a new manufacturing facility, slated for construction in 2025 and commissioning in 2027. This facility aims to produce 100% recycled and infinitely recyclable virgin-quality PET resin with a capacity of 70,000 metric tons annually. The project represents a €450 million investment, creating 200 jobs and projected to save over 255,000 tonnes of CO2 emissions per year compared to conventional virgin PET. This initiative is part of Loop's global strategy to support sustainability for European brands amidst increasing demand for recycled content.
Loop Industries (NASDAQ: LOOP) announced its participation in the Bank of America Securities 2023 Global Agriculture and Materials Conference on March 1-2, 2023. Daniel Solomita, Founder and CEO, along with Kevin O'Dowd, Vice President of Communications and Investor Relations, will speak and hold one-on-one meetings with investors and analysts. The group presentation is scheduled for 1:50 PM Eastern Time on March 2. Loop specializes in producing 100% recycled PET plastic, contributing to a circular economy by turning low-value waste into high-quality materials for sustainable packaging.
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