Loop Industries has entered a global alliance agreement with Uhde Inventa-Fischer, a division of thyssenkrupp Industrial Solutions.
The strategic alliance will focus on sustainable polyethylene terephthalate (PET) and polyester plastic manufacturing.
As part of the agreement, both companies will combine their technologies to help manufacturers produce sustainable PET plastic.
thyssenkrupp Industrial Solutions electrolysis and polymers technologies business CEO Sami Pelkonen said: “This agreement will enable a very resource-efficient and cost-attractive solution for the production of sustainable PET and polyester.
“The alliance with Loop Industries is an important milestone on the way to producing sustainable PET and polyester.”
Loop and thyssenkrupp have already started integration assessment stages and are currently working on offering licences for a waste-to-resin (WTR) process design package. Using this, global manufacturing companies will be able to build facilities and decouple PET plastic from fossil fuels.
Loop Industries founder and CEO Daniel Solomita said: “We plan to license the respective technologies developed by Loop and thyssenkrupp Industrial Solutions to manufacturing partners in geographical regions around the world in order to quickly roll out multiple WTR plants over the next decade.”
Loop produces PET plastic from fossil fuels by depolymerising waste polyester plastic to monomers.
Earlier this month, Loop signed a multi-year supply framework with Cross Enterprise Procurement Group (CEPG) to supply 100% recycled PET plastic to Coca-Cola bottlers.