Monday, July 25, 2016 1:07:46 PM
July 25, 2016
LOS ANGELES, CA--(Marketwired - Jul 25, 2016) - Loop Industries, Inc. (OTCQB: LLPP), an environmentally responsible manufacturer of Purified Terephthalic Acid (PTA) and Mono Ethylene Glycol (MEG), is pleased to announce that it has received a positive opinion letter from its FDA counsel confirming that the Company's proprietary depolymerization technology enables a tertiary recycling process which the FDA has concluded will result in the production of monomers and oligomers that are sufficiently pure to produce new polymers which can then be readily purified to produce a finished polymer (such as packaging materials) that is "suitable for food-contact use."
Loop Industries is represented in this matter by Keller and Heckman, a global leader in the area of regulatory law specialized in evaluating FDA compliance status of food ingredients and additives, functional foods, and substances used in food packaging and processing equipment.
Daniel Solomita, Loop's CEO, commented, "We are very pleased to receive confirmation that our proprietary chemical recycling process, which produces high purity PTA and MEG from post-consumer PET plastic waste streams, meets FDA standards. This approval clears the way for our company to accelerate its business development activities with food and beverage companies searching for a sustainable packaging solution."
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