Loop Industries, Inc, a leading technology innovator in sustainably produced plastic, and ThyssenKrupp Industrial Solutions’ division, Uhde Inventa-Fischer GmbH, a leading global polyester technology provider and polyester plant engineering firm, have entered into a strategic collaboration that would shape the future of PET and Polyester manufacturing. The Global collaboration agreement integrates their respective technologies intended to offer a turn-key industrial solution for the license to manufacturing companies that are seeking a commercially viable technology to produce sustainable PET and polyester plastic.
Sami Pelkonen, CEO of the Electrolysis & Polymers Technologies business unit of thyssenkrupp Industrial Solutions, said, “We have successfully established a large variety of patented technologies and processes in the global market. This agreement will enable a very resource efficient and cost-attractive solution for the production of sustainable PET and polyester. The collaboration with Loop Industries is an important milestone on the way to producing sustainable PET and polyester.”
Daniel Solomita, Founder and CEO of Loop Industries, commented, “This Global Collaboration Agreement allows for Loop’s technology to rapidly transform the plastic market and fully capitalize on our disruptive potential as the leader in the circular economy for PET plastic. thyssenkrupp’s extensive engineering expertise and proven Melt-To-Resin technology provides Loop with a world class partner to bring the Waste-to-Resin manufacturing solution to market.”
According to Solomita, “WTR is a key pillar of Loop’s commercialization blueprint to meet global demand from consumer packaged goods and other brands for Loop branded sustainable resin. The two companies plan to license the respective technologies developed by Loop and thyssenkrupp Industrial Solutions to manufacturing partners in different regions around the world in order to quickly roll out multiple WTR plants decoupling PET plastics from fossil fuels over the next decade.”