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Pastimes : Plastics to Oil - Pyrolysis and Secret Catalysts and Alterna -- Ignore unavailable to you. Want to Upgrade?

To: scion who wrote (53555)	8/5/2021 11:40:16 AM
From: PaperProphet	Read Replies (1) \| Respond to of 53574

Excellent that Reuters called out Loop Industries. I wrote an article about LOOP a couple of years ago. It's a doomed company IMO...but it will probably take years before it runs out of cash. LOOP purports to turn used PET plastic back into virgin PET plastic by decomposition and then using those chemicals to re-create new PET. Looking at the stoichiometry and the costs of the base materials, the math simply doesn't work. However LOOP has been enormously successful at getting new investment, both from SK Global Chemical recently as well as from Northern Private Capital a couple of years ago, a fund run by a Canadian billionaire. It never ceases to amaze me how much money flows based on so little due diligence. LOOP has so much cash now that it can zombie along for years and years without running out of cash. In that time, the company can probably find even more people willing to throw away their money.