DGAP-News

Loop Industries Announces Independent Review Confirming Effectiveness of Patented Technology - Seite 4

Certifications and Accreditations

Loop has received from the European Chemicals Agency ("ECHA") a confirmation of registration for its MEG on November 17, 2020, and for its DMT on December 7, 2020. The registration under the Registration, Evaluation, Authorization and Restriction of Chemicals ("REACH") Regulation (EC 1907/2006) confirms that Loop's monomers are of a purity equal to what is currently recognized within Europe and entitles Loop to manufacture/import the monomers into Europe. It should be noted that MEG and DMT are on the positive list for plastic materials, which means that the two monomers can be used as food-contact materials.

In addition, as previously disclosed, Loop is in possession of a legal opinion confirming that its depolymerization technology meets U.S. Food and Drug Administration ("FDA") requirements to produce suitably pure MEG and DMT for use in food-grade packaging. The Company has filed for a No Objection Letter ("NOL") from the FDA, which will validate the legal opinion obtained thus far.

It should be noted that the levels of monomer purity confirmed by Kemitek's verification are in line with the data submitted for the REACH registration of Loop's DMT and MEG monomers and the FDA NOL.

Conclusion

"The results of Kemitek's verification reconfirm Loop's belief that we are well positioned to have a transformative impact on the reduction of global plastic waste," concluded Loop Founder and CEO Daniel Solomita. "I wish to sincerely thank the entire Loop team for their dedicated work and ongoing support for the Company, as we move forward with our plans to bring our technology to commercial scale."

[1] A result 0.1% above 100% is consistent with the margin of error of the result.

About Loop Industries

Loop Industries (NASDAQ: LOOP) is a technology company whose mission is to accelerate the world's shift toward sustainable PET plastic and polyester fiber and away from our dependence on fossil fuels. Loop owns patented and proprietary technology that depolymerizes no and low-value waste PET plastic and polyester fiber, including plastic bottles and packaging, carpets and textiles of any color, transparency or condition and even ocean plastics that have been degraded by the sun and salt, to its base building blocks (monomers). The monomers are filtered, purified and polymerized to create virgin-quality Loop(TM) branded PET resin and polyester fiber suitable for use in food-grade packaging, thus enabling our customers to meet their sustainability objectives. Loop Industries is contributing to the global movement toward a circular economy by preventing plastic waste and recovering waste plastic for a more sustainable future for all.