I spoke to an old friend in California today for the first time in several years. He is involved with Loop Industries, a sustainable producer of MEG and DMT, the base chemical components of PET Plastic. The company’s patented depolymerization technology produces virgin quality Dimethyl Terephthalate (DMT) and Monoethylene Glycol (MEG) from waste plastic feedstocks, without the use of heat or pressure (no energy inputs = highly profitable). This is a game-changing technology.
The company has reached an important inflection point as its technology and ability to scale to meet global commercial demand is being validated by major global consumer brands and plastics manufacturers. The recent news about the joint venture with Indorama (largest global manufacturer of PET plastic ) and more supply agreements signed, with Pepsico and Coca Cola are very telling in that Loop is able to strike deals that keep control of the brand and, in the case of Indorama, allow an equal revenue split. This speaks to the power of the technology and the demand the company is seeing from the global consumer brands.
Here’s a few articles about recent developments: