Loop Industries, Inc. announced that they have entered into a multi-year offtake agreement with beauty industry brand L’Oréal to supply them with PET resin made of 100% recycled materials for their packaging needs.
This resin is to be supplied from Loop Industries’ joint venture facility in Spartanburg, South Carolina, USA with Indorama Ventures, a global integrated leader in PET plastic and polyester fibre manufacturing. The growing demand for Loop Industries’ resin has driven the joint venture’s decision to increase the facility’s production capacity to 40 KT per year, thus enabling Loop Industries to broaden its array of partnerships and supply more brands with resin made from waste PET plastic and polyester fibre.
Thanks to Loop Industries’ low-energy technology, waste PET plastic and polyester fibre can be diverted away from landfills and natural areas, depolymerised into its base building blocks, purified and polymerised into virgin-quality Loop PET resin.
Started in 2018, the collaboration between L’Oréal and Loop Industries is now entering a new step forward with this agreement for the supply of sustainable PET resin.