Hyosung leveraged its expertise in advanced materials to spin the yarn, ensuring premium quality and performance, while Pleatsmama transformed the yarn into stylish, sustainable handbags. This collaboration highlights the potential of circular fashion and innovative recycling technologies to drive sustainability across industries.
Loop’s T2T polyester fiber is recognized for its virgin-quality properties, seamlessly integrating into existing supply chains and manufacturing processes without compromising on quality or aesthetics. The polyester also delivers significant environmental benefits, reducing greenhouse gas emissions by up to 80% and requiring up to 91% less non-renewable primary energy compared to virgin polyester production from fossil fuels1.
Polyester, the most widely used fiber globally, accounts for approximately half of the textile market, reaching an estimated 71 million metric tons in 2023. This presents a significant challenge, as polyester fiber waste is not suitable for traditional mechanical recycling methods and often ends up in landfills or is incinerated. The Infinite Loop™ technology provides a solution by recycling even the lowest-value polyester waste, regardless of color or material composition, into 100% recycled virgin-quality Polyester. This closed-loop approach offers a sustainable alternative for the textile industry, addressing the growing issue of textile waste while maintaining exceptional quality and performance.
“Teaming with Loop Industries and our brand partner, Pleatsmama, marks a significant milestone in our efforts to support our customers in achieving their sustainability objectives and expanding solutions that benefit both current and future generations,” said Chihyung Kim, CEO of Hyosung TNC. “We admire Loop for its high quality and its capacity to divert textile waste from landfills and incineration, while reducing the reliance on virgin polyester by minimizing raw material extraction.”
“The collaboration with industry leaders such as Hyosung & Pleatsmama demonstrates the potential of our Infinite Loop™ technology to transition from linear to circular fashion,” said Giovanni Catino, Vice President of Sales and Business Development of Loop. “By converting low-value mixed polyester textile waste into virgin-quality polyester, we’re not only tackling the pressing issue of textile waste but also enabling brands to deliver premium products with a closed-loop solution that meets both quality and environmental standards.”
1Life Cycle Assessment of Loop GEN II Infinite Loop France done by Franklin Associates, a division of ERG, compares kg for kg Loop PET vs. Virgin PET. CO2 savings are compared to the production of virgin PET made from fossil fuels and the avoided incineration of waste used as a feedstock.
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™ PET plastic and polyester fiber can be recycled infinitely without degradation of quality, successfully closing the plastic loop. 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.
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About Hyosung TNC
Hyosung TNC is a complete sustainable textile solutions provider that produces world-class products, providing continuous innovation to the textile industry. Hyosung is the world’s largest manufacturer of spandex by market share supplying the broadest range of stretch fiber offerings supported by exceptional technology and quality under its CREORA® Spandex and regenTM brands. Hyosung’s specialty nylon and polyester provide functional and sustainable fiber solutions that are essential to today’s dynamic textile market. The company is proud Textile Exchange Partner-level Member and Ocean Network member. Visit our blog at blog.hyosungtnc.com for all the latest trend, event, and product updates. Hyosung can also be found on Instagram @hyosung_textiles and on LinkedIn at Hyosung Performance Textiles.
About Pleatsmama
PLEATSMAMA: Proposing a Beautiful and Sustainable Way of Life
PLEATSMAMA aims to present a lifestyle that is both beautiful and sustainable. By using eco-friendly materials that do not generate waste, the brand crates fashionable products for conscious consumers who care about the environment and themselves.
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 growth strategies, plans for use of proceeds, ability to improve and expand its capabilities and seek additional financing, and plans for future growth and future operations including expansion in Europe and advancing the joint venture in India. 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) our ability to commercialize our technology and products, (ii) the status of our relationships with our partners, (iii) development and protection of our intellectual property and products, (iv) industry competition, (v) our need for and ability to obtain additional funding relative to our current and future financial commitments, (vi) our ability to continue as a going concern, (vii) engineering, contracting, and building our manufacturing facilities, (viii) our ability to scale, manufacture, and sell our products and to license our technology in order to generate revenues, (ix) our proposed business model and our ability to execute it, (x) our ability to obtain the necessary approvals or satisfy any closing conditions in respect of any of our proposed partnerships, (xi) our joint venture projects and our ability to recover certain expenditures in connection them, (xii) adverse effects on the Company’s business and operations as a result of increased regulatory, media, or financial reporting scrutiny, practices, rumors, or otherwise, (xiii) public health issues, such as disease epidemics, which may lead to reduced access to capital markets, supply chain disruptions, and government-imposed business closures, (xiv) war, regional tensions, and economic or other conflicts that could impact market stability and our business; (xv) the effect of the continuing worldwide macroeconomic uncertainty and its impacts, including inflation, market volatility and fluctuations in foreign currency exchange and interest rates, (xvi) the outcome of any Securities and Exchange Commission (“SEC”) investigations or class action litigation filed against us, (xvii) our ability to hire and/or retain qualified employees and consultants, (xviii) other events or circumstances over which we have little or no control, and (xix) other factors discussed in Loop’s Annual Report on Form 10-K for the fiscal year ended February 29, 2024 filed with the SEC and in Loop’s subsequent filings with the 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. Loop assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise, unless otherwise required by law.
For More Information:
Investor Relations:
Kevin C. O’Dowd, Investor Relations
Loop Industries, Inc.
+1 617-755-4602
kodowd@loopindustries.com
Media Inquiries:
info@loopindustries.com
SOURCE: Loop Industries
View the original press release on ACCESS Newswire
