on Loop Industries, Inc. (NASDAQ:LOOP)
Loop Industries Partners with Nike in Sustainability Drive
Loop Industries has entered a significant multi-year agreement with Nike, designating it as the anchor customer for the Infinite Loop™ India manufacturing facility. This facility, a joint venture with Ester Industries, is set to produce Twist™, a polyester resin made from textile waste. The resin ensures full traceability through chemical tracer technology, verifying its recycled origin.
The Infinite Loop™ India aims to significantly cut greenhouse gas emissions by 81%, potentially saving 418,600 tonnes of CO₂ annually. Nike's commitment underlines its dedication to sustainable innovation, aiming to reduce the use of both virgin and recycled polyester in its products.
Loop CEO Daniel Solomita highlights this partnership as a milestone, reinforcing Loop's strategy to provide credible recycled materials and advance circular fashion.
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