LOOP
- Loop Industries, Inc.
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Overview
Company Summary
Loop Industries, Inc. is a company that focuses on the transformation and recycling of plastic waste into new, high-quality plastic materials. Its primary goal is to contribute to the development of a circular economy by reducing the consumption of finite resources and the impact of plastic waste on the environment.
Loop utilizes a proprietary technology called the Loop PET Recycling System, which allows for the transformation of low-value and contaminated plastic waste into virgin-quality PET (polyethylene terephthalate) resin. This technology aims to eliminate the need for incineration or landfilling of plastic waste, thereby providing a sustainable solution to the global plastic pollution crisis.
The Loop PET Recycling System comprises several essential steps. First, plastic waste is sourced, including plastic bottles, packaging materials, textiles, and carpets, among others. Next, this waste is depolymerized, breaking it down into its basic building blocks, such as terephthalic acid (TPA) and monoethylene glycol (MEG). These building blocks are then purified and polymerized to produce virgin-quality PET resin.
The resulting PET resin can be used in various applications, including food-grade packaging, textiles, and fibers. By creating a closed-loop system, Loop Industries aims to reduce the production of new plastic from fossil fuels and cut down on waste generation, while also offering a sustainable alternative to traditional plastic manufacturing.
Loop Industries works with companies across different sectors, forming partnerships and licensing agreements to integrate its technology into their existing plastic supply chains. By doing so, these companies can reduce their dependence on virgin plastic production and lower their environmental footprint.
Overall, Loop Industries operates at the forefront of the circular economy, providing innovative solutions to address the global plastic waste crisis and promote sustainable practices in the plastics industry.