- Levers the existing Infinite Loop™ technology to target undersupplied US$28 billion market for DMT and MEG
- High projected returns based on total capital investment of approximately US$165 million, favourable industry pricing and low operating cost environment
- Construction of the facility is expected to be complete at the end of 2026 with commercial operations commencing in early 2027
MONTREAL, QC / ACCESSWIRE / May 1, 2024 / Loop Industries, Inc. (NASDAQ:LOOP) (the “Company” or “Loop”), a clean technology company whose mission is to accelerate a circular plastics/fiber economy by manufacturing 100% recycled polyethylene terephthalate (“PET”) plastic and polyester fiber, today concluded an agreement with Ester Industries Ltd. (“Ester”), one of India’s leading manufacturers of Polyester Films and Specialty Polymers, to form a 50/50 India joint venture (“India JV”). The purpose of the India JV is to build and operate an Infinite Loop™ India manufacturing facility which will produce a unique product offering of lower carbon footprint recycled dimethyl terephthalate (“rDMT”), recycled mono-ethylene glycol (“rMEG”) and specialty polymers in India, using the Infinite Loop™ technology which offers significant advantages over traditional mechanical PET recycling.
