RCS - Loop Industries - Loop X L’occitane Unveil 100% Recycled Pet Bottle

Loop IndustriesAnnouncement

12/10/2022 08:15

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RNS Number : 5561C  Loop Industries  12 October 2022

LOOP X L'OCCITANE UNVEIL 100% RECYCLED PET BOTTLE

·    Loop Industries and L'OCCITANE en Provence unveil new bottle
manufactured with 100% recycled PET Resin from Loop's upgraded production
facility in Terrebonne Quebec, Canada

MONTREAL (CANADA)/ ACCESSWIRE /OCTOBER 12 2022: 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 L'OCCITANE
en Provence, a global manufacturer and retailer of sustainable beauty and
wellness products, today unveiled a new bottle for the brand's Almond Shower
Oil that was created through Loop's revolutionary technology.

 

 

Photo:  L'OCCITANE en Provence Almond Shower Oil bottle created from 100%
recycled Loop™ PET resin

Loop Industries has partnered with L'OCCITANE en Provence to help meet the
brand's sustainability goal of using 100% recycled PET in its bottles by 2025.
In partnership with the brand, a pilot project was executed where the iconic
Almond Shower Oil bottle (excluding cap and label) was produced using 100%
recycled Loop™ PET resin and was successfully carried out on L'OCCITANE
production lines. This initiative marks a significant step forward in the
partnership between the two companies and sets the pathway to implement Loop's
technology across other products in the brand's assortment.

 

As part of this partnership with L'OCCITANE en Provence, Loop's branding is
featured prominently on the front of the packaging, with additional details
speaking to the technology on the back label. The primary placement and
visibility of Loop branding on the packaging is a major component of this
initiative as it acts as an indicator for true circularity and the quality of
the material, highlighting the bottle's ability to recirculate in the economy
infinitely, without degrading in quality. The presence of Loop branding on the
packaging adds strong value as it allows the brand to make a powerful
statement in sustainability and helps bring visibility to the recyclable
potential of the product, supporting Loop's mission to accelerate a circular
plastics economy.

 

Loop is currently supplying leading consumer brand companies, including
L'OCCITANE en Provence, with 100% recycled virgin-quality PET resin that is
suitable for food-grade packaging and polyester fiber use through its
Terrebonne, Quebec production facility. Loop has recently completed upgrades
to the facility which has increased production capacity at the plant. Loop,
along with strategic partners SUEZ and SK Geo Centric, plan to commercialize
Loop's technology in Europe through its planned Infinite Loop™ France
facility which will help supply European consumer brands, including L'OCCITANE
en Provence, with 100% recycled Loop™ PET resin to be used in products and
packaging.  The project is projected to break ground in 2023.

 

 

Commenting on the activation, David Bayard, Packaging R&D Director at
L'OCCITANE en Provence said "L'OCCITANE en Provence is very conscious of the
importance of eco-design and sustainable packaging. We have been launching
eco-refill products, in-store collections and recycling services and bottles
made out of 100% recycled plastic for more than 13 years and are continuing to
progress on this. We are proud to partner with Loop Industries, whose
innovative technology will help us in achieving our target of 100% sustainable
PET plastic in all our bottles by 2025. The innovative technology they provide
is a game-changer that can help us play a part in addressing the growing
global concern over plastic pollution."

 

Daniel Solomita, Loop's Founder and CEO, stated "We are thrilled to partner
with L'OCCITANE en Provence in their journey towards sustainability and to
leverage our technology with the brand, helping them progress towards meeting
their 2025 goal. The integration of Loop's branding serves as a visual
reference to the infinitely recyclable capabilities of our product and
technology, allowing consumers and companies alike to become active partners
in our continuous efforts in establishing a circular economy for plastics. We
have accomplished another exciting milestone by completing the upgrades to our
plant in Terrebonne, Quebec where we are now in full production supplying
global brand companies with Loop™ branded PET resin to be used in food-grade
packaging and for polyester fiber use."

 

About L'OCCITANE en Provence

Since 1976, L'OCCITANE en Provence has been devising, producing and selling
beauty, skincare and wellbeing products with the aim of sharing nature's
wonders with the world. We believe that by reviving the strength of all living
things, we can help seeds bloom again and reconcile humans with nature. We are
Cultivators of Change. Every year, we plant powerful ingredients which are in
perfect symbiosis with their ecosystems. We turn to Mother Earth and marvel at
her in bloom. We explore her treasures and question our own methods to
discover new breakthroughs. We craft them into unexpected memories. We team up
with people at a local level because we believe that any action can make a
difference, no matter how big or small.

 

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
(http://www.loopindustries.com) . Follow Loop on Twitter: @loopindustries
(https://twitter.com/loopindustries) , Instagram: loopindustries
(https://www.instagram.com/loopindustries/) , Facebook: Loop Industries
(http://www.facebook.com/Loopindustrie/) and LinkedIn: Loop Industries
(http://www.linkedin.com/company/loop-industries/)

 

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 Loop's technology
and products, (ii) Loop's status of relationship with partners, (iii)
development and protection of Loop's intellectual property and products, (iv)
industry competition, (v) Loop's need for and ability to obtain additional
funding relative to its current and future financial commitments, (vi)
engineering, contracting and building Loop's manufacturing facility, (vii)
Loop's ability to scale, manufacture and sell its products in order to
generate revenues, (viii) Loop's proposed business model and its ability to
execute thereon, (ix) adverse effects on Loop's business and operations as a
result of increased regulatory, media or financial reporting scrutiny and
practices, rumors or otherwise, (x) disease epidemics and health related
concerns, such as the current outbreak of additional variants of coronavirus
(COVID-19), which could result in (and, in the case of the COVID-19 outbreak,
has resulted in some of the following) reduced access to capital markets,
supply chain disruptions and scrutiny or embargoing of goods produced in
affected areas, government-imposed mandatory business closures and resulting
furloughs of Loop's employees, government employment subsidy programs, travel
restrictions or the like to prevent the spread of disease, and market or other
changes that could result in noncash impairments of our intangible assets, and
property, plant and equipment, (xi) the outcome of the current SEC
investigation or recent class action litigation filed against Loop, (xii)
Loop's ability to hire and/or retain qualified employees and consultants and
(xiii) 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 More Information:

 

Investor Relations:

Kevin C. O'Dowd, Vice-President Communications & Investor Relations

Loop Industries, Inc.

+1 617-755-4602

kodowd@loopindustries.com

 

Media Inquiries:

Andrea Kostiuk, VP Marketing & Communications

Loop Industries, Inc.

+1 (450) 951-8555

akostiuk@loopindustries.com (mailto:scorrente@loopindustries.com)

 

 

 

 

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