DGAP-News

Loop Industries Announces Commercial Supply Agreement with Danone SA to Supply Loop(TM) Branded PET Resin Made from 100% Recycled Content

DGAP-News: Loop Industries, Inc. / Key word(s): Miscellaneous Loop Industries Announces Commercial Supply Agreement with Danone SA to Supply Loop(TM) Branded PET Resin Made from 100% Recycled Content 16.05.2022 / 13:30 The issuer is solely responsible for the content of this announcement. Loop Industries Announces Commercial Supply Agreement with Danone SA to Supply Loop(TM) Branded PET Resin Made from 100% Recycled Content

• New multi-year agreement for Loop PET resin from the planned Infinite Loop manufacturing facility located in Bécancour, Quebec.
• Supports Danone objectives and commitments towards a circular economy in packaging

MONTREAL, QC / ACCESSWIRE / May 16, 2022 / Loop Industries, Inc. (NASDAQ:LOOP) (the "Company" or "Loop"), whose mission is to accelerate a circular plastics economy by manufacturing 100% recycled polyethylene terephthalate ("PET") plastic and polyester fiber, today announced a multi-year supply agreement with French food group Danone SA (Euronext: BN) ("Danone"), one of the world's leading global food and beverage companies. 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 Q4 2024.

"This announcement is an important milestone in our long-standing partnership with Danone to supply Loop branded PET resin from our Infinite Loop Bécancour manufacturing facility. I would like to thank the teams from Danone and Loop for all their hard work and effort during the independent technology validation that was executed by a leading engineering firm, and everyone involved in the signing of this contract. Having Danone as the anchor customer is an important step for the Infinite Loop Bécancour facility as well as our global commercialization rollout of Infinite Loop manufacturing facilities." said Daniel Solomita, Loop's Founder and Chief Executive Officer.