Revolutionary new manufacturing process will position Loop to commercialize its Generation II technology and
disrupt how PET resin and polyester fiber is recycled and manufactured
TERREBONNE, Quebec, June 27, 2018 (GLOBE NEWSWIRE) -- Loop Industries, Inc. (Nasdaq:LOOP) announced that, as a next
step in commercializing its Generation II technology, it is designing a fully integrated manufacturing facility to upcycle waste
PET and polyester fiber into virgin quality Loop™ PET resin and polyester fiber. Loop is in the process of engaging
engineering partners to complete the integrated design.
“A fully integrated start-to-finish process will soon exist to commercialize Loop’s innovative Generation II technology and help
tackle the global plastic crisis,” said Daniel Solomita, CEO and Founder of Loop. “These facilities will make it possible for all
forms of waste PET and polyester fiber, even ocean plastics that have been degraded by the sun and saltwater, to be fully recovered
and upcycled into PET of the highest purity and performance quality.”
This integrated innovation will join Loop’s proprietary depolymerization technology with state of the art PET production
processes, allowing plastic waste to be utilized as feedstock to produce Loop™ PET resin and facilitate the transition to a
circular economy. The technology will take waste PET and polyester fiber that can include PET plastic bottles and packaging
of any color, transparency or condition, and carpet and other polyester textiles that may contain colours, dyes or additives and
separate the PET from all contaminants to produce virgin quality FDA-approved food-safe Loop™ PET resin and polyester
fiber.
“To encourage more recycling at the community level and reduce climate causing emissions, Loop facilities are planned to be
optimally located adjacent to large population centers where ample feedstock can be found,” added Mr. Solomita.
This integrated manufacturing design will be the basis for Loop’s commercialization strategy, which is now the company’s focus
in order to capitalize on its technology and respond to the demands of consumers, governments, non-governmental organizations and
brand owners who have committed to ambitious sustainability targets.
About Loop Industries, Inc.
Loop’s mission is to accelerate the world’s shift toward sustainable plastic and away from our dependence on fossil fuels. Loop
has created a revolutionary technology poised to disrupt the plastics industry. This ground-breaking technology decouples plastic
from fossil fuels by depolymerizing waste polyester plastic to its base building blocks (monomers). The monomers are then
repolymerized to create virgin-quality polyester plastic that meets FDA requirements for use in food-grade packaging. Loop™ branded
polyester resin allows consumer goods companies to meet and exceed their stated sustainability goals and circular ambitions. For
more information, please visit www.loopindustries.com.
Forward-Looking Statements
This news release contains "forward-looking statements." Such statements may be preceded by the words "intends," "may," "will,"
"plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar
words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject
to various known and unknown risks and uncertainties, many of which are beyond Loop's control, and cannot be predicted or
quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking
statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) commercialization
of our technology, (ii) development and protection of our intellectual property, (iii) unexpected industry competition, (iv) the
need to raise capital to meet business requirements, (v) our manufacturing facility, and (vi) and our ability to sell our products
in order to generate revenues. More detailed information about Loop and the risk factors that may affect the realization of
forward looking statements is set forth in our filings with the Securities and Exchange Commission (SEC). Investors and
security holders are urged to read these documents free of charge on the SEC's web site at http://www.sec.gov. Loop assumes
no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or
otherwise.
For more information:
Nelson Switzer
+1 (450) 951-8555
publicaffairs@loopindustries.com
