Loop Industries Completes and Expands Supply Agreement With Danone for 100% Sustainable PET
February 12 2019 - 7:30AM
Loop Industries, Inc. (Nasdaq: Loop) (“Loop” or the “Company”), a
leading technology innovator in sustainable plastic for packaging,
today announced that it has completed a multi-year supply agreement
with Danone SA (Euronext: BN) (“Danone”), one of the world’s
leading global food & beverage companies. Danone will purchase
100% sustainable and upcycled Loop™ branded PET from Loop’s joint
venture facility with Indorama Ventures Limited in the United
States for use in brands across its portfolio including
evian®, Danone’s iconic natural spring water.
“On behalf of our team, I’d like to thank Danone for their
continued support and commitment to Loop, sustainability and the
circular economy,” said Daniel Solomita, Founder & CEO of Loop
Industries. “We are pleased to see our relationship extend to now
include the supply of Loop™ branded PET resin to other of Danone’s
exciting brands.”
About Loop Industries, Inc.
Loop Industries, Inc. is a technology and licensing company
whose mission is to accelerate the world’s shift toward sustainable
plastic and away from our dependence on fossil fuels. Loop owns
patented and proprietary technology that depolymerizes no and low
value waste PET plastic and polyester fiber, including plastic
bottles and packaging, carpet and polyester textile of any colour,
transparency or condition and even ocean plastics that have been
degraded by the sun and salt, to its base building blocks
(monomers). The monomers are filtered, purified and
repolymerized to create virgin-quality Loop™ branded PET plastic
resin and polyester fiber suitable for use in food-grade packaging
to be sold to consumer goods companies to help them meet their
sustainability objectives. Through our customers and
production partners, Loop is leading a global movement toward a
circular economy by raising awareness of the importance of
preventing and recovering waste plastic from the environment to
ensure plastic stays in the economy for a more sustainable future
for all.
Common shares of the Company are listed on the Nasdaq Global
Market under the symbol “LOOP.”
For more information, please visit www.loopindustries.com.
Follow us on Twitter: @loopindustries, Instagram: loopindustries,
Facebook: www.facebook.com/Loopindustrie/ and LinkedIn:
www.linkedin.com/company/loop-industries/
Forward-Looking StatementsThis news release
contains "forward-looking statements." Such statements may be
preceded by the words "intends," "may," "will," "plans," "expects,"
"anticipates," "projects," "predicts," "estimates," "aims,"
"believes," "hopes," "potential" or similar words.
Forward-looking statements are not guarantees of future
performance, are based on certain assumptions and are subject to
various known and unknown risks and uncertainties, many of which
are beyond Loop's control, and cannot be predicted or quantified
and consequently, actual results may differ materially from those
expressed or implied by such forward-looking statements. Such risks
and uncertainties include, without limitation, risks and
uncertainties associated with (i) commercialization of our
technology and products, (ii) our status of relationship with
partners, (iii) development and protection of our intellectual
property and products, (iv) industry competition, (v) our need for
and ability to obtain additional funding, (vi) building our
manufacturing facility, (vii) and our ability to sell our products
in order to generate revenues, (viii) our proposed business model
and our ability to execute thereon, (ix) adverse effects on the
Company’s business and operations as a result of increased
regulatory, media or financial reporting issues and practices,
rumors or otherwise, and (x) other factors discussed in our
subsequent filings with the SEC. More detailed information
about Loop and the risk factors that may affect the realization of
forward looking statements is set forth in our filings with the
Securities and Exchange Commission (SEC). Investors and
security holders are urged to read these documents free of charge
on the SEC's web site at http://www.sec.gov. Loop assumes no
obligation to publicly update or revise its forward-looking
statements as a result of new information, future events or
otherwise.
For More Information:
Investors:
Jason Assad LR Advisors LLC. +1 (678) 570-6791
jwassad@bellsouth.net
Media Inquiries:
Nelson Switzer Loop Industries +1 (450) 951-8555 ext. 230
nswitzer@loopindustries.com
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