Indorama Ventures and Loop combine power in PET recycling
Indorama Ventures Public Company Limited and Loop Industries, Inc. announced a joint venture to manufacture and commercialise sustainable polyester resin to meet the growing global demand from beverage and consumer packaged goods companies. This partnership combines Indorama Ventures’ manufacturing and Loop’s recycling technology to become a leader in the ‘circular’ economy for 100% sustainable and recycled PET resin and polyester fibre.
The 50/50 joint venture will have an exclusive world-wide license to use Loop’s technology to produce 100% sustainably produced PET resin and polyester fibre with plans to begin commercial production in Q1 2020. The production from the facility will be fully subscribed by leading global consumer brands.
