RCS - Loop Industries - Loop & Bormioli Unveil Pharmaceutical Packaging

Loop IndustriesAnnouncement

24/01/2024 08:15

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RNS Number : 7034A  Loop Industries  24 January 2024

Loop Industries and Bormioli Pharma Unveil an Innovative Pharmaceutical
Packaging Bottle Manufactured with 100% Recycled Virgin Quality Loop PET Resin
at Pharmapack 2024

·      This packaging innovation will be showcased at Pharmapack Europe
2024 (January 24th-25th, 2024, Paris Expo, Porte de Versailles - booth
B78-B79, Hall 7.2)

MONTREAL, QC / ACCESSWIRE / January 24, 2024 / Loop Industries, Inc.
(NASDAQ:LOOP) (the "Company" or "Loop"), a clean technology company whose
mission is to accelerate a circular plastics economy by manufacturing 100%
recycled polyethylene terephthalate ("PET") plastic and polyester fiber and
Bormioli Pharma, an international leader in pharmaceutical packaging and
medical devices, today announced that an innovative pharmaceutical packaging
bottle manufactured with 100% recycled virgin quality Loop™ PET resin will
be unveiled within the Bormioli booth at Pharmapack Europe 2024.

To see the complete release, click here:
 https://www.accesswire.com/viewarticle.aspx?id=827486&token=fb0266be-c148-473f-b5fc-78e9be493913
(https://www.accesswire.com/viewarticle.aspx?id=827486&token=fb0266be-c148-473f-b5fc-78e9be493913)

 

 Bormioli Pharma and Loop Industries aim to introduce market-ready solutions
for the global pharmaceutical industry and the two companies began to
collaborate over a year ago in order to achieve this goal. Bormioli Pharma
tested Loop™ PET resin in its packaging, commissioning to independent third
parties' additional analysis to verify extractables levels with different
solutions, also taking in consideration the worst-case scenario. The results
of these tests set a new benchmark for recycled plastic products within the
pharmaceutical industry, as the bottles produced with Loop™ PET resin do not
release any substance deemed of toxicological relevance(1).

Bormioli Pharma's EcoPositive offering, gathering low-impact packaging
solutions, currently constitutes 50% of their standard catalogue, contributing
to position itself among the players with the broadest sustainable offerings
on the international market.

In addition to the independent third-party testing commissioned by Bormioli
Pharma, Loop(TM) PET resin was also tested by a worldwide leader in laboratory
testing services and on December 13th, 2023 Loop announced that test results
confirmed its Loop™ PET resin meets the strict requirements and standards
outlined by the European Pharmacopeia (Ph.Eur. 3.1.15, Polyethylene
Terephthalate for Containers for Preparations not for Parenteral Uses) and the
United States Pharmacopeia (USP  661.1 , Plastic Materials of
Construction) and is compliant for use in packaging applications in the
pharmaceutical industry.

"Through this collaboration with Loop we're strengthening our role as a solid,
quality and reliable partner for the pharmaceutical industry" stated Andrea
Lodetti, CEO of Bormioli Pharma. "Loop Industries shares our values and
commitment, and together we made available a new pharma-grade sustainable
solution, showing even greater safety standards than traditional ones."

Daniel Solomita, Founder and CEO of Loop Industries, commented "Through our
collaboration with Bormioli Pharma, we have developed an innovative
pharmaceutical packaging solution manufactured from 100% recycled virgin
quality Loop(TM) PET resin. This high-quality packaging alternative raises the
bar for responsible solutions and helps set a new standard for sustainable
packaging in the pharmaceutical industry."

(1) Results from an extractables study conducted by an independent, external
lab and performed on bottles manufactured with Loop™ PET resin using
different simulating solutions.

About Bormioli Pharma  

Bormioli Pharma works closely with the pharmaceutical industry and all
companies that are working towards the future of healthcare globally. As a
world-renowned player in the packaging industry, the company serves the
pharmaceutical and biopharmaceutical markets with complete solutions,
including glass and plastic bottles, plastic and aluminum closures and
accessories. Bormioli Pharma's wide product ranges are designed and
manufactured with a focus on innovation and addressing the ever-growing
sustainability issues. Moreover, each product is specifically conceived for
the destination market thanks to an accurate portfolio segmentation. Bormioli
Pharma has a global presence in over 100 countries, with more than 1,400
employees and 9 plants across Europe specialized in the production of glass
and plastic packaging. Each year, the company produces more than 7 billion
pieces and in 2022 reported annual sales of approximately 315 million euros.
As a partner to the pharmaceutical industry, Bormioli Pharma invests and
innovates with one goal in mind: making health a positive practice, available
to everyone, kind to the planet.

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.

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 strategies, ability to improve
and expand its capabilities, competition, expected activities and expenditures
as Loop pursues its business plan, the adequacy of its available cash
resources, regulatory compliance, plans for future growth and future
operations, the size of Loop's addressable market, market trends, and the
effectiveness of Loop's internal control over financial reporting.
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) commercialization of our technology
and products, (ii) our status of relationship with 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) engineering,
contracting, and building our manufacturing facilities, (vii) our ability to
scale, manufacture, and sell our products in order to generate revenues,
(viii) our proposed business model and our ability to execute thereon, (ix)
the ability to obtain the necessary approvals or satisfy any closing
conditions in respect of any of our proposed partnerships, (x) our joint
venture projects and our ability to recover certain expenditures in connection
therewith, (xi) adverse effects on the Company's business and operations as a
result of increased regulatory, media, or financial reporting scrutiny,
practices, rumors, or otherwise, (xii) disease epidemics and other
health-related concerns and crises, which could result in reduced access to
capital markets, supply chain disruptions and scrutiny, embargoing of goods
produced in affected areas, government-imposed mandatory business closures and
any resulting furloughs of our employees, government employment subsidy
programs, travel restrictions or the like to prevent the spread of disease, or
market or other changes that could result in non-cash impairments of our
intangible assets, and property, plant and equipment, (xiii) the effect of the
continuing worldwide macroeconomic uncertainty and its impacts, including
inflation, market volatility and fluctuations in foreign currency exchange and
interest rates, (xiv) the outcome of any SEC investigations or class action
litigation filed against us, (xv) our ability to hire and/or retain qualified
employees and consultants, (xvi) other events or circumstances over which we
have little or no control, and (xvii) other factors discussed in Loop's
subsequent filings with the Securities and Exchange Commission ("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.

For further information:

For Bormioli Pharma, Hill and Knowlton:

Daniele Rurale

+39 346 5011546
daniele.rurale@hillandknowlton.com (mailto:daniele.rurale@hillandknowlton.com)

Ilaria Carfì

+39 324 0114825
ilaria.carfi@hillandknowlton.com (mailto:ilaria.carfi@hillandknowlton.com)

For Loop Industries:

INVESTOR RELATIONS:

Kevin C. O'Dowd, =Investor Relations

Loop Industries, Inc.

+1 617-755-4602
kodowd@loopindustries.com (mailto:kodowd@loopindustries.com)

MEDIA INQUIRIES:

Andrea Kostiuk, VP Marketing & Communications

Loop Industries, Inc.

+1 (450) 951-8555
akostiuk@loopindustries.com (mailto:akostiuk@loopindustries.com)

SOURCE: Loop Industries, Inc.

 

 

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