Loop Industries, a leading company in sustainable plastics technology, and Suez, a world leader in environmental services, announce plans to build the first Infinite Loop recycling facility in Europe. Based on enhanced recycling, the partnership will combine the resource management expertise of Suez and Loop’s unique technology for the production of virgin quality, food grade, 100% recycled and infinitely recyclable plastic.
Loop’s patented and proprietary low-energy technology is claimed to enable waste plastic to be recycled an infinite number of times, with no degradation in quality. Combined with the expertise of Suez, the Infinite Loop facility will respond to huge growth in demand in Europe from global beverage and consumer goods brand companies, committed to aggressive targets for a high level of recycled content in their products. This new enhanced recycling facility dedicated to PET1 plastic will be the largest in the world, with the potential to produce the equivalent of approximately 4.2 billion food grade beverage bottles2 made of 100% recycled and infinitely recyclable PET plastic annually.
By leveraging Loop’s technology, this facility will be able to claim savings of 180,000 t of CO2 annually, compared with virgin PET production from a traditional petrochemical process. These savings are equivalent to approximately 418,000 barrels of oil.
“Suez has been involved for more than 10 years in mechanical plastic recycling, while investing constantly in research & innovation. In 2019, we processed 450,000 t of plastics across Europe and produced 150,000 t of recycled plastics. Highly convinced by the complementarity between mechanical and chemical recycling solutions, we are thrilled to be part of this innovative project with Loop Industries as it will expand our offer and our solutions improving the economic and environmental performance of our industrial customers, but also contributing to a sustainable resource management” comments Jean-Marc Boursier, Suez Group COO.
Loop Founder and CEO Daniel Solomita says “Europe is leading the charge against petroleum-based plastics: through tougher regulations and taxes, they are setting a global example on transitioning to a more circular economy. The Infinite Loop technology creates the infrastructure countries need to be able to eliminate plastic waste and increase recycling rates. Loop’s expansion is tailored to our customers’ needs allowing them to meet and exceed their ambitious targets for recycled content in their packaging, but also to have the ability to recycle their packaging infinitely, without having to compromise quality.”
Final site selection and engineering are targeted to be completed by mid-2021 and commissioning of the facility is currently projected in 2023.