Sustainable packaging company Loop Industries has announced that it has signed a letter of intent with cosmetics brand L’Oréal Group to help close the loop on its PET plastic packaging.
This collaboration will see the cosmetics company incorporate Loop PET into its packaging and is hoped that it will accelerate the transition into the circular plastic economy.
Through Loop’s technology, waste PET plastic and polyester fibre that would usually end up in landfill or oceans can now be converted into Loop PET to be endlessly upcycled.
This technology deconstructs waste PET plastic and polyester fibre from sources such as water and soda bottles, textiles, consumer goods packaging and more into its base monomers.
It then separates out all impurities and reconstructs the monomers into Loop PET.
Loop industries chief growth officer Nelson Switzer said: ““We are very proud to have L’Oréal join us in the Loop. When companies use and activate the Loop brand and products, consumers are able to readily identify and choose a sustainable solution that is poised to help solve the plastic crisis.”
L’Oreal Group global head of packaging and development Philippe Thuvien said: “As the leader in the beauty industry, we believe we have a responsibility to bring innovative and sustainable solutions to the consumer. That is why we seek to partner with innovative companies and leverage technologies, such as Loop, that will trigger an acceleration in the transition to a circular economy. And Loop PET is able to meet the rigorous packaging standards of L’Oréal.”
Loop and L’Oreal have said that they intent to complete a definitive supply agreement for Loop PET resin in the United States and the European Union before the end of autumn 2018.