Loop Industries and Suez partner for a world's largest recycling facility in Europe
Loop Industries and SUEZ announce plans to build the first Infinite Loop™ recycling facility in Europe. Based on enhanced recycling, the partnership will combine the resource management expertise of SUEZ and Loop’s breakthrough technology for the production of virgin quality, food grade, 100% recycled and infinitely recyclable plastic. Located in Europe, the new facility will offer a sustainable and truly needed solution to global consumer goods companies.
According to Loop, their patented and proprietary low-energy technology enables waste plastic to be recycled an infinite number of times, with no degradation in quality. The new enhanced recycling facility dedicated to PET plastic will be the largest in the world, with the potential to produce the equivalent of approximately 4.2 billion food grade beverage bottles made of 100% recycled and infinitely recyclable PET plastic annually.
By leveraging Loop’s innovating technology, this facility will be able to claim savings of 180,000 tons of CO2 annually, compared with virgin PET production from a traditional petrochemical process. These savings are equivalent to approximately 418,000 barrels of oil.
Reducing Environmental Impact While Increasing Recycling Rates of Plastic Packaging
Europe consumes approximately 5.5 million tons of PET plastic every year, less than 7% of which makes its way back into bottles. European governments are imposing new regulation on single used plastics and set minimum recycled content laws for packaging.
With this partnership, Loop Industries and SUEZ intend to build in Europe a new Infinite Loop™ recycling facility which will bring an end-of-life solution to the waste plastic inputs currently not recycled. This will directly increase recycling rates in the country where it will be built. Final site selection and engineering are targeted to be completed by mid-2021 and commissioning of the facility is currently projected in 2023.
