Mumbai, August 12: Ester Loop Infinite Technologies Private Limited (ELITe), a joint venture between Indian polyester films maker Ester Industries Limited and its JV partner Loop Industries, Inc has signed a non-binding Letter of Intent (LOI) to supply Loop PET Fiber Grade resin to an unnamed global sports brand.
Under the agreement, the company aims to offer 15,000 metric tonnes of Loop resin annually, manufactured in India at its Nandida, Gujarat plant. With this, the company wins another commitment for its Loop resin, after a similar announcement with Nike. The plant is expected to become operational by 2028, using Loop’s proprietary depolymerization technology to convert polyester textile waste into virgin quality DMT and MEG.
“We are pleased to share that our JV partner, Loop Industries, has secured interest from another premier global brand for the upcoming ELITe facility,” Mr. Arvind Singhania, Chairman, Ester Industries Limited said in a press release.
“With Nike already on board as our anchor customer, this second commitment from a premier sports brand reaffirms the strong market demand for circular, textile-to-textile recycled polyester, and further validates ELITe’s strategic position in accelerating sustainable manufacturing globally.” he added.
“This agreement is a strong validation of our technology’s ability to deliver virgin-quality, sustainable resin at commercial scale. As we move ELITe towards operations in 2028, growing interest from marquee global brands reinforces the demand we’re seeing for infinitely recyclable PET, and strengthens the long-term commercial case for this facility.” Mr. Daniel Solomita, Founder and Chief Executive Officer of Loop Industries, shared.
