Technology firm Loop Industries has announced a strategic alliance with polyester technology company Thyssenkrupp to help shape the future of PET and polyester manufacturing.
The ‘Global Alliance Agreement’ is with Thyssenkrupp’s industrial solutions division, Uhde Inventa-Fischer GmbH and aims to combine Loop Industries’ depolymerisation technology with its PET Melt-To-Resin technology.
This alliance has the intention to provide a rapidly scalable Waste-to-Resin (WTR) solution to supply the global demand for 100% sustainable PET and polyester plastic.
Thyssenkrupp electrolysis & polymers technologies business unit chief executive Sami Pelkonen said: “We have successfully established a large variety of patented technologies and processes in the global market. This agreement will enable a very resource efficient and cost-attractive solution for the production of sustainable PET and polyester. The alliance with Loop Industries is an important milestone on the way to producing sustainable PET and polyester.”
Loop Industries chief executive and founder Daniel Solomita said: “This Global Alliance Agreement allows for Loop’s technology to rapidly transform the plastic market and fully capitalise on our disruptive potential as the leader in the circular economy for PET plastic. Thyssenkrupp’s extensive engineering expertise and proven Melt-To-Resin technology provides Loop with a world class partner to bring the Waste-to-Resin manufacturing solution to market.”
He added that WTR is a significant part of Loop’s commercialisation blueprint to meet the global demand for consumer-packaged goods and other brands for Loop’s branded sustainable resin.
Loop plan to licence the respective technologies to manufacturing partners globally in order to quickly roll out multiple WTF plants over the next decade.
The integration has already begun, with the two firms collaborating on the WTR process design package ready for licence.