Loop Industries Announces Strategic Initiative to Support evian’s Commitment to Adopt a Circular Approach to Plastic Usage
Loop’s Breakthrough Technology to Play a Key Role in evian’s Initiative to Make All of Its Plastic Bottles from 100% Recycled Plastic by 2025
18 January 2018 | 7:30 AM ET | Source: Loop™ Industries, Inc.
MONTREAL, 18 January 2018 (GLOBE NEWSWIRE)-- Loop™ Industries, Inc. (NASDAQ: LOOP) (the “Company” or “Loop”), a leader in the sustainable plastic revolution, today announced a strategic initiative with evian® as part of a long-term Danone global partnership, to enable evian’s 100% “circular approach” to plastic usage by 2025. In partnership with evian, Loop joins a respected group of intergovernmental and not for profit organizations, industry and brand partners in accelerating the global transition to a circular economy – one that reuses and regenerates resources – rather than the traditional linear economy that relies on finite resources.
“Today’s announcement by evian is the result of 18 months of positive collaboration with evian and the R&D and purchasing teams of its parent company Danone,” said Daniel Solomita, Loop’s Founder and CEO. “I am personally very appreciative of Danone’s support and belief in the potential of Loop’s technology to transform the global PET/polyester plastics industry. Loop™ branded resin is poised to become the gold standard for sustainably produced PET/polyester.”
In the announcement made today by evian, the company stated that in order to achieve its 2025 ambition, it is partnering with “breakthrough
technology companies, one of which is Loop Industries.” The evian press release goes on to state that “Loop Industries has developed a technology that enables a continuous loop for recycling at large scale, transforming all types of PET plastic waste into the high-quality plastic required by evian.”
Loop’s Revolutionary Technology
Our revolutionary technology decouples PET/polyester plastic from fossil fuels by depolymerizing all forms of waste PET/polyester into its base building blocks (monomers). The resulting monomers are then repolymerized into virgin-quality polyester plastic, enabling a true circular economy.
Loop’s technology allows for low value and no value waste such as carpets and clothing to be up-cycled into high value consumer goods packaging such as water bottles. Our patented technology specifically targets PET/polyester plastic allowing for the removal for all waste impurities, such as colors, dyes, labels and non-PET/polyester plastic waste.
“Our disruptive technology is helping partner brands reach and exceed their stated sustainability goals,” Solomita explained. “Iconic brands such as evian recognize the benefits of our technology in accelerating the transition to the circular economy envisioned by The Ellen MacArthur Foundation and other thought leaders in industry, government and academia. We are now focusing on global commercialization of our technology
through manufacturing partnerships to supply Loop™ branded PET/polyester resin.”
2018 World Economic Forum at Davos
Loop management will attend the World Economic Forum Annual Meeting taking place on January 23-26, 2018 in Davos-Klosters, Switzerland.
Loop will demonstrate its revolutionary depolymerization technology at a private dinner for invited guests and media outlets.
Investors and media interested in meeting with Loop executives should contact Loop investor relations at info@loopindustries.com.
Information about the World Economic Forum is available at weforum.org.
weforum.org |
