Loop Industries, Inc., a leading technology innovator in sustainable plastic, has entered into a multi-year supply agreement with the Coca-Cola system’s Cross Enterprise Procurement Group (“CEPG”) to supply 100% recycled and sustainable Loop PET plastic (“Loop PET”). Loop has a joint venture facility with Indorama Ventures Limited, a world-class chemicals company in the United States and a global integrated leader in PET and fibers that serves major customers in diversified end-use markets. Authorized Coca-Cola bottlers can enter into supply agreements with Loop.
Daniel Solomita, Founder and CEO of Loop Industries, said, “We are very proud to become a supplier of Loop branded PET resin to the members of the Coca-Cola system’s Cross Enterprise Procurement Group. We are especially pleased to be able to assist Coca-Cola’s authorized bottlers as they work to meet their recycled content ambitions.”
Ron Lewis, Chief Supply Chain Officer, Coca-Cola European Partners, a bottler member of CEPG, commented, “Like all responsible companies, we need to be selective in choosing our packaging materials so that we continue to eliminate waste and work to reduce the environmental impact. Investments like this one with Loop Industries support our goal to ensure that at least 50% of the material we use for our PET bottles comes from recycled plastic, and will help us divert more materials from landfills and build a stronger circular plastic economy.”
The breakthrough depolymerization technology developed by Loop will help reduce global plastic waste and enable major global brands to meet their sustainability goals. With the growing demand for sustainable packaging solutions, Loop Industries has developed a transformational technology that allows no and low-value plastics to be diverted, recovered and recycled endlessly into new, virgin-quality Loop PET plastic.