Loop Industries, Inc. announced a multi-year supply agreement with French food group Danone SA. The new 5-year agreement will supply Danone brands, including evian water, with Loop branded PET resin made from 100% recycled content. The resin will be supplied from the planned Infinite Loop Bécancour plant which is currently anticipated to begin production in Fourth Quarter 2024.
In conjunction with this agreement, Danone and other Loop partners retained a globally recognized third-party independent engineering firm to execute a detailed due diligence report, which validated and reinforced the quality, effectiveness, and scalability of Loop Industries' technology. Loop and Danone have developed a long-standing relationship built on transparency and communication that supports Danone's circular packaging commitments on a global basis. Throughout this time, Loop Industries has continued to work diligently on perfecting its technology for commercial production on an international scale, including projects to build greenfield Infinite Loop facilities in Canada, France, and South Korea.