Loop Industries

Loop Industries, a publicly traded company headquartered in Terrebonne, Quebec, is positioned at the intersection of clean technology and the circular economy. Founded in 2015 by Daniel Solomita, the company addresses the global plastic waste crisis by transforming low-value PET plastic and polyester fiber into high-purity, virgin-quality materials. Solomita's journey into this sector began with a landfill remediation project in South Carolina, which exposed him to the challenges of waste material processing and led him to the original chemist behind Loop's first-generation technology. This experience, combined with his background as a computer engineer and a 12-year tenure at Bell Canada, provided a unique blend of entrepreneurial drive and technical insight that underpins the company's mission.

The core of Loop's operation is its patented depolymerization technology, which chemically breaks down a wide array of waste feedstocks—including colored bottles, food trays, carpets, and even degraded ocean plastics—into their fundamental building blocks: DMT and MEG monomers. These monomers are then purified and re-polymerized to create Loop™ branded PET resin and polyester fiber, suitable for food-grade packaging and textiles. This process stands in contrast to traditional mechanical recycling, which often results in material degradation, by enabling waste plastics to be upcycled infinitely without loss of quality. The company's technology moved to a more cost-effective second generation (Gen 2) in 2017, a pivotal moment that redesigned the process for better commercial scalability.

Loop Industries operates a hybrid business model, generating revenue primarily through technology licensing, engineering services, and the sale of its produced resin. The company partners with global consumer goods brands and manufacturers, licensing its "Infinite Loop™" technology for the construction of recycling facilities. This strategy allows for global expansion while focusing direct capital investment in key regions. Significant joint ventures have been established, including a partnership with SK Geo Centric in South Korea and another with Ester Industries in India to build commercial plants. In Europe, a partnership with Reed Societe Generale Group is underway to develop manufacturing facilities, which provided Loop with $20.8 million in proceeds in late 2024 to fund global commercialization. These collaborations with major companies like PepsiCo, Danone, and L'Oréal validate the technology and are crucial for scaling up production to meet sustainability targets set by these industry giants. Keywords: chemical recycling, PET plastic, polyester fiber, circular economy, depolymerization, sustainable materials, virgin-quality resin, plastic waste solutions, cleantech, technology licensing, upcycling, sustainable packaging, textile-to-textile recycling, Infinite Loop technology, Daniel Solomita, food-grade recycled plastic, DMT and MEG monomers, sustainable textiles, advanced recycling, circular plastics