Loop Industries, Inc. (NASDAQ: LOOP) was founded in 2014 and is headquartered in Terrebonne, Canada. It has 28 full-time employees. It is a waste treatment company focusing on the depolymerization of waste-polyterephthalene Polyethylene formate (PET) plastic and polyester fiber are manufactured as basic building blocks.
Loop Industries, Inc. (LOOP):
Like many classic innovative technology start-ups, Loop™ Industries started in the garage. The company’s founder, Daniel Solomita, worked on a landfill restoration project in South Carolina, mining 40,000 tons of waste plastic. While taking steps to resell the extracted plastic, he met a chemist in Quebec who was in the early stages of developing a breakthrough technology to upgrade waste plastic to original quality PET plastic. For the next two years, they worked in Daniel’s garage, perfecting the technology and developing commercial potential. And founded Loop™ Industries in 2015.
Loop™ Industries is an innovative technology company that creates a sustainable future for plastics. The company has created a revolutionary process that separates plastic from fossil fuels and decomposes waste plastic PET plastic into basic components.
Lupu re-polymerizes monomers into original quality (new) PET plastic, which is used in food-grade plastic packaging, such as water and soda bottles, and polyester fibers for textile applications.
At present, Loop Industries is the only company in the world that can manufacture original quality PET plastics from various forms of waste plastic PET plastics with zero energy input. What is a waste to others is a treasure to Loop Industries.
“The real importance of Loop™ Industries technology lies in accelerating the world’s transition to a sustainable direction, away from our dependence on fossil fuels.”