Ester-Loop JV Secures LOI for Up to 15,000 MT of Recycled PET Resin Annually
National: Ester Loop Infinite Technologies Private Limited (ELITe), the 50:50 joint venture between Ester Industries Limited and Loop Industries, Inc., has secured a multi-year, non-binding Letter of Intent (LOI) with a leading global sports and athletic brand for the supply of Loop™ PET Fiber Grade resin.
Under the proposed commercial framework, the global sports brand intends to procure up to 15,000 metric tonnes of Loop™ resin annually from ELITe’s upcoming manufacturing facility in India.
The facility is being developed and will be operated by ELITe, the joint venture formed between Ester Industries and Loop Industries. The company said the proposed supply arrangement represents another commercial development for the project, following an earlier agreement involving global sportswear brand Nike.
According to Ester Industries, commitments from the two global sports brands cover a substantial portion of the planned annual capacity of the upcoming facility ahead of its expected commercial start-up.
The ELITe facility is expected to commence operations in 2028 and will produce recycled PET resin intended for textile applications.
Commenting on the development, Arvind Singhania, Chairman, Ester Industries Limited, said the latest LOI reflects market interest in recycled polyester produced through textile-to-textile recycling.
Daniel Solomita, Founder and Chief Executive Officer of Loop Industries, said the agreement indicates interest in the company’s technology and the potential demand for recycled PET resin as ELITe moves towards operations in 2028.
ELITe is a 50:50 joint venture between Ester Industries Limited and Loop Industries, focused on the production of recycled PET resin using Loop Industries’ technology.
