SK Geo Centric (SKGC), SUEZ, and Loop Industries announced on June 17 that SKGC will become an equal partner in the previously announced partnership between Loop and SUEZ, which was formed to build the first Infinite Loop manufacturing facility in Europe.
Loop Industries is an innovator in sustainable plastics technology whose mission is to accelerate a circular plastics economy by manufacturing 100% recycled polyethylene terephthalate (PET) plastic and polyester, and SUEZ a world leader in environmental services.
The expanded partnership will combine SKGC’s petrochemical manufacturing experience with SUEZ’s resource management expertise and Loop’s breakthrough proprietary technology to supply 70,000 M/T of virgin quality, 100% recycled, polyethylene terephthalate (“PET”) plastic and polyester fiber to the European market.
The Infinite Loop™ facility will offer a solution to consumer goods companies which have committed to goals for significantly increased use of recycled content in their products and/or packaging and help to meet the growing demand for recycled PET resin and polyester fiber.
CEO Na Kyung-Soo of SK Geo Centric said, “We are thrilled to participate in Infinite Loop™ Europe project together with SUEZ, leading French environmental service and LOOP, which possesses an advanced recycling technology.”