RCS - Loop Industries - Loop, Hyosung TNC And Pleatsmama Collaborate
24/02/2025 08:15
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RNS Number : 1088Y Loop Industries 24 February 2025
Loop Industries, Hyosung TNC And Pleatsmama Collaborate To Pioneer Circular
Fashion With Infinite Loop(TM) Textile-to-Textile Recycling Technology
· Loop Industries supplied 100% recycled, virgin-quality Polyester
chips derived from low-value textile waste.
· Hyosung TNC transformed Loop Polyester chips into
high-performance drawn textured yarn.
· Pleatsmama crafted stylish, eco-friendly handbags emphasizing
circular design principles.
MONTREAL, QC / ACCESS Newswire (https://www.accessnewswire.com/) / February
24, 2025 / Loop Industries, Inc. (NASDAQ:LOOP) ("Loop"), a clean technology
company dedicated to accelerating circular fashion by manufacturing 100%
recycled polyethylene terephthalate ("PET") plastic and textile-to-textile
polyester fiber ("T2T"), today announced a three-way collaboration with
Hyosung TNC ("Hyosung"), a complete sustainable textile solutions provider,
and Pleatsmama, a sustainable fashion brand, to produce 100% recycled drawn
textured yarn used in limited-edition handbags. The yarn was manufactured
using Loop's virgin-quality polyester produced through the Infinite Loop™
textile-to-textile recycling technology, utilizing low-value mixed polyester
textile waste as feedstock.
Hyosung leveraged its expertise in advanced materials to spin the yarn,
ensuring premium quality and performance, while Pleatsmama transformed the
yarn into stylish, sustainable handbags. This collaboration highlights the
potential of circular fashion and innovative recycling technologies to drive
sustainability across industries.
Loop's T2T polyester fiber is recognized for its virgin-quality properties,
seamlessly integrating into existing supply chains and manufacturing processes
without compromising on quality or aesthetics. The polyester also delivers
significant environmental benefits, reducing greenhouse gas emissions by up to
80% and requiring up to 91% less non-renewable primary energy compared to
virgin polyester production from fossil fuels(1).
Polyester, the most widely used fiber globally, accounts for approximately
half of the textile market, reaching an estimated 71 million metric tons in
2023. This presents a significant challenge, as polyester fiber waste is not
suitable for traditional mechanical recycling methods and often ends up in
landfills or is incinerated. The Infinite Loop™ technology provides a
solution by recycling even the lowest-value polyester waste, regardless of
color or material composition, into 100% recycled virgin-quality Polyester.
This closed-loop approach offers a sustainable alternative for the textile
industry, addressing the growing issue of textile waste while maintaining
exceptional quality and performance.
"Teaming with Loop Industries and our brand partner, Pleatsmama, marks a
significant milestone in our efforts to support our customers in achieving
their sustainability objectives and expanding solutions that benefit both
current and future generations," said Chihyung Kim, CEO of Hyosung TNC. "We
admire Loop for its high quality and its capacity to divert textile waste from
landfills and incineration, while reducing the reliance on virgin polyester by
minimizing raw material extraction."
"The collaboration with industry leaders such as Hyosung & Pleatsmama
demonstrates the potential of our Infinite Loop™ technology to transition
from linear to circular fashion," said Giovanni Catino, Vice President of
Sales and Business Development of Loop. "By converting low-value mixed
polyester textile waste into virgin-quality polyester, we're not only tackling
the pressing issue of textile waste but also enabling brands to deliver
premium products with a closed-loop solution that meets both quality and
environmental standards."
(1)Life Cycle Assessment of Loop GEN II Infinite Loop France done by Franklin
Associates, a division of ERG, compares kg for kg Loop PET vs. Virgin PET. CO2
savings are compared to the production of virgin PET made from fossil fuels
and the avoided incineration of waste used as a feedstock.
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 patented and proprietary
technology that depolymerizes no and low-value waste PET plastic and polyester
fiber, including plastic bottles and packaging, carpets and textiles of any
color, transparency or condition and even ocean plastics that have been
degraded by the sun and salt, to its base building blocks (monomers). The
monomers are filtered, purified and polymerized to create virgin-quality
Loop™ branded PET resin suitable for use in food-grade packaging and
polyester fiber, thus enabling our customers to meet their sustainability
objectives. Loop™ PET plastic and polyester fiber can be recycled infinitely
without degradation of quality, successfully closing the plastic loop. Loop
Industries is contributing to the global movement towards a circular economy
by reducing plastic waste and recovering waste plastic for a sustainable
future.
Common shares of the Company are listed on the NASDAQ Global Market under the
symbol "LOOP."
For more information, please visit www.loopindustries.com
(https://pr.report/7ez1) .
Follow Loop on X: @loopindustries, Instagram: loopindustries, Facebook: Loop
Industries and LinkedIn: Loop Industries
About Hyosung TNC
Hyosung TNC is a complete sustainable textile solutions provider that produces
world-class products, providing continuous innovation to the textile industry.
Hyosung is the world's largest manufacturer of spandex by market share
supplying the broadest range of stretch fiber offerings supported by
exceptional technology and quality under its CREORA® Spandex and regen(TM)
brands. Hyosung's specialty nylon and polyester provide functional and
sustainable fiber solutions that are essential to today's dynamic textile
market. The company is proud Textile Exchange Partner-level Member and Ocean
Network member. Visit our blog at blog.hyosungtnc.com (https://pr.report/7eyv)
for all the latest trend, event, and product updates. Hyosung can also be
found on Instagram @hyosung_textiles (https://pr.report/7eyw) and on LinkedIn
at Hyosung Performance Textiles (https://pr.report/7eyx) .
About Pleatsmama
PLEATSMAMA: Proposing a Beautiful and Sustainable Way of Life
PLEATSMAMA aims to present a lifestyle that is both beautiful and sustainable.
By using eco-friendly materials that do not generate waste, the brand crates
fashionable products for conscious consumers who care about the environment
and themselves.
Forward-Looking Statements
This news release contains "forward-looking statements" as defined in the U.S.
Private Securities Litigation Reform Act of 1995. Such statements may be
preceded by the words "intends," "may," "will," "plans," "expects,"
"anticipates," "should," "could," "projects," "predicts," "estimates," "aims,"
"believes," "hopes," "potential" or "continue," the negative of such terms or
similar words. These forward-looking statements include, without limitation,
statements about Loop's market opportunity, its growth strategies, plans for
use of proceeds, ability to improve and expand its capabilities and seek
additional financing, and plans for future growth and future operations
including expansion in Europe and advancing the joint venture in India.
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 among other things: (i) our ability to commercialize our
technology and products, (ii) the status of our relationships with our
partners, (iii) development and protection of our intellectual property and
products, (iv) industry competition, (v) our need for and ability to obtain
additional funding relative to our current and future financial commitments,
(vi) our ability to continue as a going concern, (vii) engineering,
contracting, and building our manufacturing facilities, (viii) our ability to
scale, manufacture, and sell our products and to license our technology in
order to generate revenues, (ix) our proposed business model and our ability
to execute it, (x) our ability to obtain the necessary approvals or satisfy
any closing conditions in respect of any of our proposed partnerships, (xi)
our joint venture projects and our ability to recover certain expenditures in
connection them, (xii) adverse effects on the Company's business and
operations as a result of increased regulatory, media, or financial reporting
scrutiny, practices, rumors, or otherwise, (xiii) public health issues, such
as disease epidemics, which may lead to reduced access to capital markets,
supply chain disruptions, and government-imposed business closures, (xiv) war,
regional tensions, and economic or other conflicts that could impact market
stability and our business; (xv) the effect of the continuing worldwide
macroeconomic uncertainty and its impacts, including inflation, market
volatility and fluctuations in foreign currency exchange and interest rates,
(xvi) the outcome of any Securities and Exchange Commission ("SEC")
investigations or class action litigation filed against us, (xvii) our ability
to hire and/or retain qualified employees and consultants, (xviii) other
events or circumstances over which we have little or no control, and (xix)
other factors discussed in Loop's Annual Report on Form 10-K for the fiscal
year ended February 29, 2024 filed with the SEC and in Loop's subsequent
filings with the SEC. More detailed information about Loop and the risk
factors that may affect the realization of forward-looking statements is set
forth in Loop's filings with the 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, unless otherwise required by law.
For More Information:
Investor Relations:
Kevin C. O'Dowd, Investor Relations
Loop Industries, Inc.
+1 617-755-4602
kodowd@loopindustries.com
Media Inquiries:
info@loopindustries.com
SOURCE: Loop Industries
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