Technology company Loop Industries has signed an agreement to supply French beauty group L’Oréal with RPET resin for its packaging, building on the 2018 letter of intent between the two companies.
The multi-year agreement will see Loop Industries supply the resin from its joint venture facility in Spartanburg, South Carolina with PET plastic and polyester fiber manufacturer Indorama Ventures. Loop Industries said that as a result of the growing demand for its resin, the joint venture is increasing its production capacity to 40 KT per year.
RPET resin, made from waste PET plastic and polyester fiber, is depolymerized using Loop Industries’ low-energy technology into base building blocks, then purified and polymerized into virgin-quality PET resin.
Last year, French beauty group L’Occitane also signed an agreement with Loop Industries for the supply of recycled PET.