RCS - Loop Industries - Loop Industries Announces Commercial Agreement

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16/05/2022 14:15

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RNS Number : 6435L  Loop Industries  16 May 2022

 Loop Industries, Inc. / Key word(s): Miscellaneous

Loop Industries Announces Commercial Supply Agreement with Danone SA to Supply
 Loop(TM) Branded PET Resin Made from 100% Recycled Content

16.05.2022 / 13:30

The issuer is solely responsible for the content of this announcement.

Loop Industries Announces Commercial Supply Agreement with Danone SA to Supply
 Loop(TM) Branded PET Resin Made from 100% Recycled Content

 ·      New multi-year agreement for Loop™ PET resin from the planned
 Infinite Loop™ manufacturing facility located in Bécancour, Quebec.

 ·      Supports Danone objectives and commitments towards a circular
 economy in packaging

 MONTREAL, QC / ACCESSWIRE / May 16, 2022 / Loop Industries, Inc.
 (NASDAQ:LOOP) (the "Company" or "Loop"), whose mission is to accelerate a
 circular plastics economy by manufacturing 100% recycled polyethylene
 terephthalate ("PET") plastic and polyester fiber, today announced a
 multi-year supply agreement with French food group Danone SA (Euronext: BN)
 ("Danone"), one of the world's leading global food and beverage companies. The
 new 5-year agreement will supply Danone brands, including evian water, with
 Loop™ branded PET resin made from 100% recycled content. The resin will be
 supplied from the planned Infinite Loop™ Bécancour plant which is currently
 anticipated to begin production in Q4 2024.

 "This announcement is an important milestone in our long-standing partnership
 with Danone to supply Loop™ branded PET resin from our Infinite Loop™
 Bécancour manufacturing facility. I would like to thank the teams from Danone
 and Loop for all their hard work and effort during the independent technology
 validation that was executed by a leading engineering firm, and everyone
 involved in the signing of this contract. Having Danone as the anchor customer
 is an important step for the Infinite Loop™ Bécancour facility as well as
 our global commercialization rollout of Infinite Loop™ manufacturing
 facilities." said Daniel Solomita, Loop's Founder and Chief Executive Officer.

 "We need cutting-edge technologies like the ones Loop Industries has developed
 to reach our sustainable packaging ambition. This agreement is a natural next
 step in our partnership with Loop Industries, moving from technology
 development to the concrete production phase. It is an important milestone to
 establish 'infinite' closed-loop recycling for PET bottles and enable the
 recycling of hard-to-recycle packaging and materials" said Nicolas GREGOIRE,
 Vice-President Packaging Cycle at Danone.

 In conjunction with this agreement, Danone and other Loop partners retained a
 globally recognized third-party independent engineering firm to execute a
 detailed due diligence report, which validated and reinforced the quality,
 effectiveness, and scalability of Loop Industries' technology. Loop and Danone
 have developed a long-standing relationship built on transparency and
 communication that supports Danone's circular packaging commitments on a
 global basis. Throughout this time, Loop Industries has continued to work
 diligently on perfecting its technology for commercial production on an
 international scale, including projects to build greenfield Infinite Loop™
 facilities in Canada, France, and South Korea.

 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 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/ZHfuhLiF) . Follow Loop on Twitter: @loopindustries
 (https://pr.report/h0iLXsl4) , Instagram: loopindustries
 (https://pr.report/RCtPoSfa) , Facebook: Loop Industries
 (https://pr.report/vPAVkc5J)  and LinkedIn: Loop Industries
 (https://pr.report/-uKlxsFo) .

 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, (vi) 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 a novel strain 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
 (https://pr.report/oK9efiY0) . 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 (mailto:kodowd@loopindustries.com)

 Media Inquiries:

Andrea Kostiuk, Vice President Marketing & Communications

Loop Industries, Inc.

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

 SOURCE: Loop Industries, Inc.

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