Leveraging Invista/Chemtex polymerization know-how, Infinite Loop™ clears the trail to fulfill international demand for PET resin and polyester polymer for fiber constituted of 100% recycled content material, making certain infinite recyclability
MONTRÉAL, QC / ACCESSWIRE / September 3, 2020 / Loop Industries (NASDAQ:LOOP), a number one innovator in sustainable plastics know-how, immediately declares an settlement with Chemtex International Company to license the PET plastic and polyester polymer for fiber manufacturing know-how of INVISTA’s know-how and licensing group, INVISTA Efficiency Applied sciences (IPT), in help of Loop’s technique to commercialize its breakthrough depolymerization know-how and start its international roll-out of totally built-in Infinite Loop™ manufacturing amenities. Below the identical settlement, Chemtex International Company will present engineering and design help for INVISTA’s polymerization know-how.
Infinite Loop™ manufacturing amenities will present an end-to-end answer to fulfill the worldwide demand for Loop™ branded PET resin and polyester fiber constituted of 100% recycled content material. Loop’s depolymerization know-how breaks down waste PET plastic and polyester fiber into its base petrochemical constructing blocks, or monomers: dimethyl terephthalate (DMT) and mono-ethylene glycol (MEG). After depolymerization, the monomers are purified again into their unique kind. Lastly, INVISTA’s main polymerization know-how is then used to rebuild the DMT and MEG into model new PET resin or polyester fiber.
“Infinite Loop™ manufacturing amenities will rework the best way PET plastic and polyester fiber is made sooner or later, because the world continues its transition away from fossil fuel-based plastics and into the round financial system. All the waste plastic processed via our manufacturing know-how is now infinitely recyclable, with out compromising high quality, which our clients demand,” stated Daniel Solomita, Founder and CEO of Loop Industries. “The power to rework a worn-out polyester sweater right into a pristine water bottle or a model new pair of denims is a superb instance of the infinite potentialities of Infinite Loop™ manufacturing.”
Loop’s know-how can declare a decrease environmental impression than that of virgin PET. In reality, an Infinite Loop™ plant with a 63,000-ton manufacturing capability can declare carbon dioxide (CO2) financial savings of 135,500 metric tons, or the equal of a medium-sized automobile driving over 540,000,000 km per yr. Loop’s know-how additionally reveals a 60% discount of worldwide warming potential when in comparison with virgin PET produced from fossil fuels.
“Our collaboration with INVISTA and Chemtex permits us to speed up the worldwide deployment of our know-how to help the necessity for the transition to the round financial system inside plastics. Our extremely scalable manufacturing know-how will assist help cities all over the world with essential infrastructure wanted to cut back plastic waste,” added Solomita.
About Loop Industries
Loop Industries is a know-how firm whose mission is to speed up the world’s shift towards sustainable PET plastic and polyester fiber and away from our dependence on fossil fuels. Loop owns patented and proprietary know-how that depolymerizes no and low-value waste PET plastic and polyester fiber, together with plastic bottles and packaging, carpets and textiles of any colour, transparency or situation and even ocean plastics which were degraded by the solar and saltwater, into its base constructing blocks (monomers). The monomers are filtered, purified and polymerized to create virgin-quality Loop™ branded PET resin and polyester fiber appropriate to be used in food-grade packaging, thus enabling our clients to fulfill their sustainability goals. Loop Industries is contributing to the worldwide motion towards a round financial system by stopping plastic waste and recovering waste plastic for a extra sustainable future for all.
Frequent shares of Loop Industries are listed on the Nasdaq International Market underneath the image “LOOP.”
This information launch incorporates “forward-looking statements” as outlined within the U.S. Personal Securities Litigation Reform Act of 1995. Such statements could also be preceded by the phrases “intends”, “could”, “will”, “plans”, “expects”, “anticipates”, “ought to”, “might”, “tasks”, “predicts”, “estimates”, “goals”, “believes”, “hopes”, “potential” or related phrases. Ahead-looking statements usually are not ensures of future efficiency, are based mostly on sure assumptions and are topic to numerous identified and unknown dangers and uncertainties, lots of that are past Loop’s management, and can’t be predicted or quantified and consequently, precise outcomes could differ materially from these expressed or implied by such forward-looking statements. Such dangers and uncertainties embody, with out limitation, dangers and uncertainties related to amongst different issues: (i) commercialization of our know-how and merchandise, (ii) our standing of relationship with companions, (iii) improvement and safety of our mental property and merchandise, (iv) trade competitors, (v) our want for and skill to acquire extra funding, (vi) constructing our manufacturing facility, (vii) our potential to promote our merchandise with the intention to generate revenues, (viii) our proposed enterprise mannequin and our potential to execute thereon, (ix) antagonistic results on the Firm’s enterprise and operations on account of elevated regulatory, media or monetary reporting points and practices, rumors or in any other case, (x) illness epidemics and well being associated issues, corresponding to the present outbreak of a novel pressure of coronavirus (COVID-19), which might lead to (and, within the case of the COVID-19 outbreak, has resulted in a few of the following) diminished entry to capital markets, provide chain disruptions and scrutiny or embargoing of products produced in affected areas, government-imposed obligatory enterprise closures and ensuing furloughs of our workers, journey restrictions or the like to forestall the unfold of illness, and market or different modifications that might lead to noncash impairments of our intangible belongings, and property, plant and gear, and (xi) different components mentioned in our subsequent filings with the SEC. Extra detailed details about Loop and the chance components which will have an effect on the belief of forward-looking statements is ready forth in our filings with the Securities and Alternate Fee (“SEC”). Traders and safety holders are urged to learn these paperwork freed from cost on the SEC’s web page at http://www.sec.gov. Loop assumes no obligation to publicly replace or revise its forward-looking statements on account of new data, future occasions or in any other case.
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SOURCE: Loop Industries, Inc.
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