Loop Industries expands supply agreement with Danone

Loop Industries expands supply agreement with Danone
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Loop Industries Inc., headquartered in Montreal, has announced that it has signed a multiyear supply agreement with Danone SA, a leading global food and beverage company. Danone will purchase Loop PET from Loop’s joint venture facility with Indorama Ventures Ltd. in the United States for use in brands across its portfolio, including Evian, Danone’s natural spring water brand.

“On behalf of our team, I’d like to thank Danone for their continued support and commitment to Loop, sustainability and the circular economy,” Daniel Solomita, founder and CEO of Loop Industries, says. “We are pleased to see our relationship extend to now include the supply of Loop branded PET resin to other of Danone’s exciting brands.”

Bangkok-based Indorama Ventures Public Co. Ltd., a leading petrochemical company, and Loop, which has developed depolymerization technology that produces dimethyl terephthalate (DMT) and mono ethylene glycol (MEG) from end-of-life plastic feedstocks, announced their joint venture in September 2018. The companies say they plan to manufacture and commercialize sustainable polyester resin to meet growing global demand from beverage and consumer packaged goods companies. Both companies have a 50 percent stake in the joint venture.

The companies say the joint venture will have an exclusive worldwide license to use Loop’s technology to produce PET resin and polyester fiber from end-of-life materials. The joint venture plans to begin commercial production in the first quarter of 2020.

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Source: Recycling Today
Loop Industries expands supply agreement with Danone
<![CDATA[Loop Industries Inc., headquartered in Montreal, has announced that it has signed a multiyear supply agreement with Danone SA, a leading global food and beverage company. Danone will purchase Loop PET from Loop’s joint venture facility with Indorama Ventures Ltd. in the United States for use in brands across its portfolio, including Evian, Danone’s natural spring water brand.“On behalf of our team, I’d like to thank Danone for their continued support and commitment to Loop, sustainability and the circular economy,” Daniel Solomita, founder and CEO of Loop Industries, says. “We are pleased to see our relationship extend to now include the supply of Loop branded PET resin to other of Danone’s exciting brands.”Bangkok-based Indorama Ventures Public Co. Ltd., a leading petrochemical company, and Loop, which has developed depolymerization technology that produces dimethyl terephthalate (DMT) and mono ethylene glycol (MEG) from end-of-life plastic feedstocks, announced their joint venture in September 2018. The companies say they plan to manufacture and commercialize sustainable polyester resin to meet growing global demand from beverage and consumer packaged goods companies. Both companies have a 50 percent stake in the joint venture.The companies say the joint venture will have an exclusive worldwide license to use Loop’s technology to…