(Information sent by the signatory company)
Canada, May 30, 2023.
This visit is a major step forward in the collaboration of Loop Industries with its strategic partners SK Geo Centric and Suez
Loop Industries, Inc. (Nasdaq: LOOP) (the “Company” or “LOOP”), a clean technology company whose mission is to accelerate a circular plastics economy by manufacturing 100% recycled polyethylene terephthalate (“PET”) plastics. Polyester Fibers welcomed Franck Leroy, President of the Grand Est region in France, for a tour of their facilities in Terrebonne, Quebec, Canada. The visit is an important step in Loop Industries’ collaboration with its strategic partners SK Geo Centric and Suez, who are preparing to build a commercial manufacturing plant to implement Loop’s technology in Saint-Avold, in the Grand Est region of France. Are. European market.
The Saint-Avold commercial manufacturing facility, with an estimated annual capacity of 70,000 metric tons, will manufacture virgin-grade, 100% recycled and infinitely recycled PET Loop resin from PET plastic waste and low-carbon polyester fibers. value, and can save over 255,000 tons of CO2 per year compared to virgin PET resin made from fossil fuels1. The plant is expected to begin construction in 2025 and be online in 2027.
The decision to set up a commercial manufacturing facility in France was motivated by several key factors, including a rich landscape of collaborations with big brands such as Danone, L’Occitane en Provence and L’Oréal championing sustainability and local efforts for recycling. This ecosystem provides a strong foundation for Loop to work alongside industry leaders committed to sustainable practices. Furthermore, France’s unwavering commitment to environmental protection and recycling makes it an ideal place to implement Loop’s technology. Loop’s innovative technology can play a vital role in achieving the brand’s sustainability goals and aligns perfectly with the country’s vision of a circular economy.
“The Grand Est region is particularly proud to support the implementation of Loop Industries in its region in partnership with Suez and SK GeoCentric. By visiting the Loop production plant in Terrebonne, our delegation was able to demonstrate its large contribution to this technology innovation. was able to demonstrate interest. and exchanged ideas with Daniel Solomita and his teams. Our conversations allowed us to determine the next steps and ensure that this first industrial unit will be established in Europe at a sustained pace This considerable investment, which will create new jobs, represents a decisive new step in the environmental transition of the Saint-Evold Carling chemical platform in eastern France. The challenge is simple: the environment creates jobs and reindustrialises our regions, And we want to be a reference area of the circular economy, thanks to big players like Loup, Suez and SK Geo Centric”, underlines Franck Leroy, president of the Grand Est region.
“It is an honor to welcome Chairman Leroy to our facility and showcase Loop’s innovative technology,” said Daniel Solomita, Founder and CEO of Loop. “We are delighted to expand our operations in France and support the sustainability goals of global brands based in Europe by providing our excellent quality and 100% recycled PET Loop resin. With the support of our strategic partners and the territory of Grand Est , we are confident in our ability to accelerate the commercialization of Loop’s technology and drive transformative change.”
Mr. Franck Leroy’s visit highlights the importance of this project for the Grand Est region and the global economy of circular plastics. Loup Industries is pleased to move forward with the construction of a commercial manufacturing facility in Saint-Evold, ushering in a new era of sustainable PET production across Europe. The company is dedicated to its mission to end the PET plastic and polyester fiber waste cycle and accelerate a sustainable, circular economy.
Based on the latest LCA as on March 1, 2022, the data is compared with Virgin PET made from Dimethyl Terephthalate (DMT).
About Loop Industries
Loop Industries is a technology company whose mission is to accelerate the world’s shift toward sustainable PET plastics and polyester fibers and away from our dependence on fossil fuels. Loop Industries owns a patented technology that depolymerizes PET plastic and polyester fiber waste with little or no value, such as plastic bottles and containers, carpets and textiles of any color, transparency or condition, and even That marine plastics are also degraded by sol and salt. , to convert them into their basic components (monomers).
For more information visit www.loopindustries.com
Contact
Contact name: Andrea Kostyuk
Contact Details: President Marketing & Communications
Contact Phone: +1 450 951-8555
