Under the agreement, Loop will supply sustainable PET resin to meet the packaging needs of personal care company L'Oréal
Loop Industries has secured a contract to provide PET resin made from 100% recycled materials to French cosmetics company L’Oréal.
Under a multi-year offtake agreement, Loop will supply sustainable PET resin to meet the packaging requirements of L’Oréal.
L’Oréal and Loop have first started their collaboration in 2018, and now expanded their business partnership with the PET resin supply agreement.
The sustainable PET resin is manufactured at Loop’s joint venture facility in South Carolina
The PET resin, which will be supplied to L’Oréal, is manufactured at Spartanburg facility in South Carolina. The facility is jointly owned by Loop and Indorama Ventures.
Loop said that the increasing demand for its resin has pushed the joint venture to ramp up the production at the facility to 40 KT per annum. The move helped Loop to expand its partnerships, as well as supply more brands with resin made from waste PET plastic and polyester fibre.
According to Loop, its low-energy technology diverts waste PET plastic and polyester fibre from landfills and natural areas, depolymerised into its base building blocks, purify and polymerise into virgin-quality Loop PET resin.
Loop Industries sales and business development senior director Giovanni Catino said: “Supporting businesses in achieving their sustainability objectives while helping consumers understand the potential of plastic in a circular economy model is at the core of Loop’s mission.
“We thank L’Oréal for their partnership and look forward to working to assist them in reaching their sustainability goals.”
In February 2019, Loop Industries completed and expanded supply agreement with Danone for 100% sustainable PET.
Under the deal, Danone agreed to purchase 100% sustainable and upcycled Loop branded PET from Loop’s joint venture facility with Indorama Ventures in the US.