Loop Industries and thyssenkrupp Industrial Solutions’ division, Uhde Inventa-Fischer have signed a global alliance agreement to transform the future of sustainable PET plastic manufacturing.
The deal promotes the integration of the respective technologies to provide a turn-key industrial solution for manufacturing companies seeking a commercially viable technology to produce sustainable PET and polyester plastic.
It intends to integrate Loop’s depolymerization technology with thyssenkrupp’s PET Melt-To-Resin technology.
Thyssenkrupp Industrial Solutions’ division Uhde Inventa-Fischer has started integration assessments and is conceptual design is expected to be completed in the first quarter of 2019.
Thyssenkrupp electrolysis & polymers technologies business unit CEO Sami Pelkonen said: “We have successfully established a large variety of patented technologies and processes in the global market.
“This agreement will enable a very resource efficient and cost-attractive solution for the production of sustainable PET and polyester. The alliance with Loop Industries is an important milestone on the way to producing sustainable PET and polyester.”
The combination of technologies is expected to provide rapidly scalable Waste-to-Resin (WTR) solution for producing 100% sustainable PET and Polyester to supply the global demand.
Loop Industries founder and CEO Daniel Solomita said: “This Global Alliance Agreement allows for Loop’s technology to rapidly transform the plastic market and fully capitalize on our disruptive potential as the leader in the circular economy for PET plastic.
“thyssenkrupp’s extensive engineering expertise and proven Melt-To-Resin technology provides Loop with a world class partner to bring the Waste-to-Resin manufacturing solution to market. WTR is a key pillar of Loop’s commercialization blueprint to meet global demand from consumer packaged goods and other brands for Loop branded sustainable resin.
WTR is expected to be licensed to the global manufacturing companies which are capable of establishing facilities close to urban centers with readily available feedstock and decouple PET plastic from fossil fuels.
Solomita added: “We plan to license the respective technologies developed by Loop and thyssenkrupp Industrial Solutions to manufacturing partners in geographical regions around the world in order to quickly roll out multiple WTR plants over the next decade.”
Loop and thyssenkrupp have started the integration and are collaborating assessments on the WTR process design package. Both companies will retain all rights, titles and interests in and to their respective intellectual property.