MONTREAL, QUEBEC, Dec 13, 2023 – (ACN Newswire) – Loop Industries, Inc. (NASDAQ:LOOP) (the “Firm” or “Loop”), a cutting-edge technology firm with a mission to revolutionize the global plastics economy by producing 100% recycled polyethylene terephthalate (“PET”) plastic and polyester fiber, today announced that its Loop™ branded PET resin has been tested and is compliant for use in packaging applications within the pharmaceutical industry.
The stringent criteria outlined by the US Pharmacopeia (USP <661.1>, Plastic Supplies of Construction) and the European Pharmacopeia (Ph.Eur. 3.1.15, Polyethylene Terephthalate for Containers for Preparations not for Parenteral Uses) ensure that materials used in pharmaceutical packaging maintain the highest levels of integrity and do not compromise the safety and efficacy of the enclosed products. Test results conducted by a global leader in laboratory testing services confirm that Loop’s PET resin has successfully met these criteria, opening new possibilities for sustainable packaging alternatives in the pharmaceutical industry.
The pharmaceutical industry is increasingly recognizing the importance of adopting sustainable practices and materials to reduce its environmental impact. Loop’s 100% recycled virgin quality PET can assist pharmaceutical companies with a sustainable packaging option and address the growing demand for environmentally responsible alternatives in the industry.
In addition to pharmaceutical packaging applications, Loop™ branded PET resin is also suitable for use in food-grade packaging, cosmetic packaging, and polyester fiber textile applications.
“Our Limitless Loop™ technology upcycles the lowest quality PET and polyester fiber waste into 100% recycled PET resin of the highest purity, meeting the strict requirements of the pharmaceutical industry,” said Adel Essaddam, Vice President of Science and Innovation. “Loop™ PET resin creates circularity for low-cost waste while reducing greenhouse gas emissions and could save up to 360,000 tonnes of CO2 per year when compared to virgin PET made from fossil fuels”1, he added.
Daniel Solomita, Founder and CEO of Loop Industries, commented “This validation further reaffirms the quality and purity of our 100% recycled virgin quality PET, and we are proud to offer a sustainable packaging solution that meets the demanding requirements of the pharmaceutical industry.”
1 Source: Life Cycle Assessment of Loop GEN II Limitless Loop™ France conducted by Franklin Associates, a division of ERG, compares kg for kg Loop PET vs. Virgin PET. CO2 savings are based on a 70,000 tonne Loop facility and 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 with a mission to drive the world’s shift towards 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-cost waste PET plastic and polyester fiber, including plastic bottles and packaging, carpets and textiles of any color, transparency or condition and even ocean plastics which have been degraded by the sun and salt, to its basic building blocks (monomers). » …
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