Photo: Collected
Loop Industries, Inc., a clean technology company whose mission is to accelerate a circular plastics/fiber economy by manufacturing 100% recycled polyethylene terephthalate (“PET”) plastic and polyester fiber, has concluded an agreement with Ester Industries Ltd., one of India’s leading manufacturers of Polyester Films and Specialty Polymers, to form a 50/50 India joint venture. The purpose of the India JV is to build and operate an Infinite Loop™ India manufacturing facility which will produce a unique product offering of lower carbon footprint recycled dimethyl terephthalate (“rDMT”), recycled mono-ethylene glycol (“rMEG”) and specialty polymers in India, using the Infinite Loop™ technology which offers significant advantages over traditional mechanical PET recycling.
Source: Online/NAN
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