Loop Industries utilizes proprietary technology to convert waste PET plastic and polyester fiber, which are not conventionally recyclable, into high-purity, virgin-quality PET resin. This process addresses the issue of single-use plastics by enabling a circular economy through the production of 100% recycled content materials.
Funding
$10.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
The vast majority of PET plastic and polyester fiber waste is not effectively recycled through conventional methods, leading to significant environmental pollution and resource depletion. This linear "take-make-dispose" model relies heavily on fossil fuels and results in a large percentage of plastic packaging being used only once before ending up in landfills or the environment.
Solution
Loop Industries offers a technology platform that depolymerizes waste PET plastic and polyester fiber, including materials that are typically considered non-recyclable, and transforms them into virgin-quality PET resin. This process enables a circular economy for PET, allowing for the creation of new products and packaging from 100% recycled content. By breaking down waste into its constituent monomers, Loop's technology reduces reliance on fossil fuels and minimizes environmental impact. The resulting Infinite Loop™ PET resin can be used in a wide range of applications, including bottles, packaging, and textiles, offering a sustainable alternative to traditional petroleum-based plastics.
Target Audience
Loop Industries primarily targets consumer brands, packaging manufacturers, and other companies seeking sustainable alternatives to traditional PET plastic and polyester fiber.
Features
- Proprietary depolymerization technology that breaks down PET and polyester waste into its constituent monomers.
- Production of virgin-quality PET resin from 100% recycled content.
- Ability to process waste streams that are not conventionally recyclable, including colored, contaminated, and ocean-bound plastics.
- Manufacturing solution for producing PET plastic and polyester fiber with a significantly lower carbon footprint.