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Montreal, December 13, 2023.
loop™ brand pet resin meets the requirements and standards established by the United States Pharmacopeia and the European Pharmacopeia
Loop Industries, Inc. (NASDAQ:LOOP) (the "Company" or "Loop"), a clean technology company whose mission is to accelerate a circular plastic economy by manufacturing polyethylene terephthalate ("PET") plastic and 100% recycled polyester fiber, today announced that its Loop™ brand PET resin has been tested and found to be compliant for use in packaging applications in the pharmaceutical industry. The rigorous requirements and standards established by the United States Pharmacopeia (USP <661.1>, Plastic Construction Materials) and the European Pharmacopoeia (Ph.Eur. 3.1.15, Polyethylene Terephthalate for Containers for Preparations not for Parenteral Uses) ensure that materials used in pharmaceutical packaging maintain the highest levels of integrity and do not compromise the safety and effectiveness of the included products. Test results conducted by a global leader in laboratory testing services confirm that Loop PET resin has successfully met these requirements, opening up new possibilities for sustainable packaging solutions in the pharmaceutical industry. The pharmaceutical industry is increasingly recognizing the importance of adopting sustainable practices and materials to reduce your environmental impact. Loop's 100% recycled virgin grade PET can help pharmaceutical companies with a sustainable packaging alternative and respond to the growing demand for environmentally responsible options in the sector. In addition to pharmaceutical packaging applications, Loop™ brand PET is also suitable for use in food grade packaging, cosmetic packaging and polyester fiber textile applications." Our Infinite Loop™ technology recycles waste PET and lower quality polyester fiber into PET resin 100% recycled of the highest purity, complying with the strict standards of the pharmaceutical industry," declared Adel Essaddam, vice president of Science and Innovation. "Loop™ PET resin creates circularity for low-value waste while reducing greenhouse gas emissions and can save up to 360,000 tonnes of CO2 per year compared to virgin PET made from fossil fuels," he added. Daniel Solomita, Founder and CEO of Loop Industries, commented: "This validation further reaffirms the quality and purity of our 100% recycled virgin grade PET and we are proud to offer a sustainable packaging solution that meets the demanding standards of the pharmaceutical industry.”About Loop Industries Loop Industries is a technology company whose mission is to accelerate the world's shift toward sustainable PET plastic and polyester fiber and away from our dependence on fossil fuels. Loop Industries owns a patented technology that depolymerizes low- or zero-value PET plastic and polyester fiber waste, such as plastic bottles and containers, carpets and textiles of any color, transparency or condition, and even weather-degraded ocean plastics. sun and salt, to convert them into their basic components (monomers). The monomers are filtered, purified and polymerized to create Loop™ brand virgin quality PET resin suitable for use in food grade packaging and polyester fiber, allowing our customers to meet their sustainability goals. Loop™ PET plastic and polyester fiber can be recycled infinitely without quality degradation, successfully closing the plastic loop. Loop Industries contributes to the global movement towards a circular economy by reducing plastic waste and recovering plastic waste for a sustainable future. More information at: www.loopindustries.com.
ContactContact name: Andrea KostiukContact description: Loop IndustriesContact phone: 1 450 951-8555