Thursday, June 21, 2018 10:06:03 PM
Source: GlobeNewswire Inc.
Today, Loop Industries, Inc. (Nasdaq:LOOP) announced that they have successfully activated the next generation of their waste PET and polyester fiber upcycling technology which now allows for the continuous production of Loop™ PET products.
“Our Generation II technology is a major step forward in sustainable plastic,” says Daniel Solomita, CEO & Founder, Loop Industries, Inc. “It further reinforces our confidence that upcycling waste PET and polyester fiber will be cost effective, scalable and very efficient on a commercial scale, which means we can help divert even more waste plastic from landfill and help prevent it from ending up in our rivers and oceans.”
Loop’s Generation II technology is significantly more streamlined and efficient than the Generation I process, including a considerable reduction in energy use and the complete elimination of water indicating that it may be the most resource efficient process for upcycling PET and polyester fiber in the world. The most significant change introduced in the Generation II technology is Loop’s decision to produce a monomer from which it makes Loop™ PET resin and polyester fiber from terephthalic acid (PTA) to dimethyl terephthalate (DMT).
“Producing DMT during depolymerization allows us to streamline our technology and eliminate even more resources, time and cost needed to yield PET monomers of the highest purity,” added Mr. Solomita.
Loop’s short-term priority will be large-scale commercialization of this Generation II technology to respond to the demands of brand owners who have committed to ambitious sustainability targets, which can now be achieved through the use of Loop™ PET and polyester resin.
About Loop Industries, Inc.
Loop’s mission is to accelerate the world’s shift toward sustainable plastic and away from our dependence on fossil fuels. Loop has created a revolutionary technology poised to disrupt the plastics industry. This ground-breaking technology decouples plastic from fossil fuels by depolymerizing waste polyester plastic to its base building blocks (monomers). The monomers are then repolymerized to create virgin-quality polyester plastic that meets FDA requirements for use in food-grade packaging. Loop™ branded polyester resin allows consumer goods companies to meet and exceed their stated sustainability goals and circular ambitions. For more information, please visit www.loopindustries.com.
For more information:
Nelson Switzer
+1 (450) 951-8555
publicaffaris@loopindustries.com
Primary Logo
Recent LOOP News
- Gabelli Funds to Host 10th Annual Waste & Environmental Services Symposium Thursday, April 4, 2024 • GlobeNewswire Inc. • 04/01/2024 07:16:36 PM
- UPDATE - Gabelli Funds to Host 10th Annual Waste & Sustainability Symposium Thursday, April 4, 2024 • GlobeNewswire Inc. • 03/18/2024 04:38:18 PM
- Gabelli Funds to Host 10th Annual Waste & Sustainability Symposium Thursday, April 4, 2024 • GlobeNewswire Inc. • 03/18/2024 12:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/17/2024 12:00:23 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 01/16/2024 09:11:35 PM
- Water Tower Research US Climate Virtual Investor Conference: Presentations Now Available for Online Viewing • GlobeNewswire Inc. • 12/08/2023 01:35:00 PM
- Water Tower Research US Climate Investor Conference Agenda Announced for December 7th, 2023 • GlobeNewswire Inc. • 12/04/2023 01:35:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 10/16/2023 11:31:58 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 10/16/2023 11:12:03 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/12/2023 08:35:12 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 07/12/2023 08:07:28 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/03/2023 08:15:16 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/30/2023 12:45:37 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/29/2023 08:17:20 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/29/2023 08:17:09 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/29/2023 08:17:01 PM
- Gabelli Funds to Host 9th Annual Waste & Sustainability Symposium at the Harvard Club, New York, NY • GlobeNewswire Inc. • 05/09/2023 11:10:02 AM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM