Today, Loop Industries (Nasdaq: LOOP), a leading innovator in sustainable plastics technology, and SUEZ, a world leader in environmental services, announce plans to build the first Infinite Loop recycling facility in Europe. Based on enhanced recycling, the partnership will combine the resource management expertise of SUEZ and Loop’s unique breakthrough technology for the production of virgin quality, food grade, 100% recycled and infinitely recyclable plastic. Located in Europe, the new facility will offer a sustainable and truly needed solution to global consumer goods companies.
“Expansion of our technology across Europe has always been of high strategic importance for Loop and our customers. We are beyond excited to be working with the excellent team at SUEZ, who bring a complimentary skill-set to Loop’s team with their deep knowledge in resource management,” said Loop Founder and CEO Daniel Solomita. “Europe is leading the charge against petroleum-based plastics: through tougher regulations and taxes, they are setting a global example on transitioning to a more circular economy. The Infinite Loop™ technology creates the infrastructure countries need to be able to eliminate plastic waste and increase recycling rates. Loop’s expansion is tailored to our customers’ needs allowing them to meet and exceed their ambitious targets for recycled content in their packaging, but also to have the ability to recycle their packaging infinitely, without having to compromise quality.”
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