Business
Franck Leroy, President of The Grand Est Region, Visits Loop Industries' Terrebonne, Quebec, Canada Facility
MONTREAL, QC / ACCESSWIRE / May 30, 2023 / Loop Industries, Inc. (Nasdaq:LOOP) (the "Company" or "Loop"), a clean technology company whose mission is to
About this update from Loop Industries, Inc.
[{"type":"text","content":"MONTREAL, QC / ACCESSWIRE / May 30, 2023 / Loop Industries, Inc. (Nasdaq:LOOP) (the \"Company\" or \"Loop\"), a clean technology company whose mission is to accelerate a circular plastics economy by manufacturing 100% recycled polyethylene terephthalate (\"PET\") plastic and polyester fiber, hosted Franck Leroy, President of the Grand Est region in France, for a tour of their facility in Terrebonne, Quebec, Canada. The visit signifies an important step in Loop Industries' collaboration with strategic partners SK Geo Centric and SUEZ, as they prepare to construct a commercial manufacturing facility in Saint-Avold, in the Grand Est region of France, to deploy Loop's technology in the European market.Photo: Mr. Franck Leroy, President of the Grand Est region in France and Daniel Solomita, Founder and CEO of Loop Industries at Loop's head office in Terrebonne, Quebec, Canada. The Saint-Avold commercial manufacturing facility, which has a planned annual capacity 70,000 metric tonnes, will manufacture 100% recycled and infinitely recyclable virgin-quality Loop™ PET resin out of low value PET plastic and polyester fiber waste, and could save over 255,000 tonnes of CO2 annually, when compared to virgin PET resin made from fossil fuels1. The facility is anticipated to begin construction in 2025, with plant commissioning to follow in 2027.The decision to establish a commercial manufacturing facility in France was driven by several key factors including its rich collaborative landscape, with major brands such as Danone, L'Occitane en Provence, and L'Oréal championing sustainability and local recycling efforts. This ecosystem provides a strong foundation for Loop to work hand-in-hand with industry leaders committed to sustainable practices. Additionally, France's unwavering commitment to environmental protection and recycling make it an ideal location to deploy Loop's technology. Loop's innovative technology can play a pivotal role in achieving the sustainability goals of brands and aligns perfectly with the nation's vision for a circular economy.Photo: Group photo of French delegation and project partners from SUEZ and SK Geo Centric. \"The Grand Est region is particularly proud to support the establishment of Loop Industries on its territory, in association with SUEZ and SK Geo Centric. By visiting Loop's production facility in Terrebonne...