loop industries announces completion of pilot plant; confirms commercial scale production and purity - pet resin
Recycling Industry Corporation(OTCQB: LLPP)
A manufacturer of refined benzene acid responsible for the environment ("PTA")
And ethylene glycol ("EG")
Today it was announced that a pilot plant facility was successfully completed and positive results were achieved from the initial production operation.
The pilot plant was built to further validate Loop proprietary de-aggregation technology and demonstrate the company's ability to scale production of PTA and EG that are sustainable to commercial levels.
While the company continues to focus on optimizing the process to increase production and efficiency, the initial production of waste plastics as raw materials (such as waste water and beverage bottles) after consumption has been achieved for commercial purposesgrade purity.
The production capacity of the pilot plant is expected to be about 5,000 pounds chemicals per day.
Daniel Solomita, Loop chief executive, commented.
"We are pleased to now be able to present our business proprietary processes to potential partners.
The successful completion of the pilot plant is an important milestone in confirming the commercial value of our process.
While I am proud of the work our team has done to bring Loop's unique technology closer to wider commercialisation, we fully expect additional process improvements in the coming weeks and months
About circular industry
Loop Industries is a pta manufacturer responsible for the environment (PTA)
And ethylene glycol (EG)
Basic chemical components for the manufacture of pet (PET).
PET plastics are most common in beverage bottles, consumer packaging, and polyester fibers.
The proprietary process of the recycling industry sustainably converts waste plastics into PTA and EG with high purity and can be used to manufacture recycled food grade PET resin up to 100%.
This commercial grade PET resin can be used in a variety of bottling, consumer packaging and other industrial applications. Forward-
This press release contains a forward-looking statement"
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"There may be words such as" intention "," possibility "," will "," plan "," expectation "," project "," forecast "before these statements, "estimate", "target", "believe", "Hope", "potential" or something like that. Forward-
Looking at the report is not a guarantee for future performance. it is based on certain assumptions and is affected by various known and unknown risks and uncertainties. many of them are uncontrollable by Loop, and cannot be predicted or quantified, so the actual results may differ materially from the results expressed or implied by such forwarding --
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These risks and uncertainties include, but are not limited (i)
The commercialisation of our recycling process ,(ii)
Development and protection of intellectual property rights ,(iii)
Abnormal competition in the industry ,(iv)
We need to raise money to meet our business needs.
Our submission to the Securities and Exchange Commission sets out more detailed information on circular holdings and risk factors that may affect the realization of forward-looking statements (SEC).
Investors and securities holders are urged to read these documents free of charge at the SEC's website in Loop Holdings and do not assume the obligation to publicly update or modify their forwarding
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