on Loop Industries, Inc. (NASDAQ:LOOP)
Loop Industries and Ester Industries Ltd announce new joint venture in India
Loop Industries, Inc., a Montreal-based clean technology company, and Ester Industries Ltd., an Indian manufacturer of specialty polymers, announced the formation of a joint venture to build a factory in India. This facility will use Infinite Loop™ technology to produce recycled dimethyl terephthalate (rDMT) and recycled mono-ethylene glycol (rMEG), as well as specialty polymers from polyester waste.
The plant is scheduled to begin commercial operations in early 2027, following construction completion in late 2026. It aims to produce 70,000 tonnes of rDMT and 23,000 tonnes of rMEG per year, meeting a growing demand for sustainable alternatives in specialized chemical sectors. The market for these products is currently estimated at US$28 billion and is expected to grow by 3.7% annually until 2033.
The joint venture, resulting from several years of collaboration between Loop and Ester, combines technological innovation and manufacturing experience to offer low carbon footprint solutions tailored to business sustainability requirements. The total investment cost for this initiative is estimated at US$165 million.
R. E.
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