Loop Industries Inc., Montreal, has announced that it has entered into a multiyear supply framework with the Coca-Cola’s Cross Enterprise Procurement Group (CEPG). Loop will supply its Loop PET (a 100-percent-recycled polyethylene terephthalate) plastics from its joint venture facility with Indorama Ventures Ltd., Bangkok, in the United States to authorized Coca-Cola bottlers that enter into supply agreements with Loop.
Nelson Switzer, chief growth officer at Loop Industries, says the joint venture facility will be located in the Carolinas and will begin production in the first quarter of 2020. At that point, he says, Loop expects to begin supplying commercial volumes to its customers.
Switzer adds that he is unable to disclose the number of Coca-Cola bottlers or the amount of Loop PET that the company expects to supply once the plant is operational.
“We are very proud to become a supplier of Loop branded PET resin to the members of the Coca-Cola system’s Cross Enterprise Procurement Group,” says Daniel Solomita, founder and CEO of Loop Industries, in a news release announcing the agreement. “We are especially pleased to be able to assist Coca-Cola’s authorized bottlers as they work to meet their recycled content ambitions.”
Ron Lewis, chief supply chain officer, Coca-Cola European Partners, a bottler member of CEPG, says, “Like all responsible companies, we need to be selective in choosing our packaging materials so that we continue to eliminate waste and work to reduce the environmental impact. Investments like this one with Loop Industries support our goal to ensure that at least 50 percent of the material we use for our PET bottles comes from recycled plastic and will help us divert more materials from landfills and build a stronger circular plastic economy.”
Switzer says, "Loop PET is a virgin-quality PET plastic that meets the requirements of the FDA (Food & Drug Administration). As such, it can be used to make 100 percent PET packaging and polyester products. This may include bottles, food packaging, clothing and other textiles."
(For more information on Loop Industries and chemical recycling of plastics, see the article “The promise of chemical recycling” in the Fall issue of Plastics Recycling, available at www.RecyclingToday.com/article/the-promise-of-plastics-chemical-recycling.)