Updated: Feb 17
Loop Industries is a Canadian startup that developed a technology which enables the transformation of waste PET into recycled food-grade PET. https://www.loopindustries.com/en
PET is a large global waste issue. Many usual products such as bottles are indeed made of PET and constitute a very visual part of the waste "iceberg".
Loop Industries' news stream shows that they have a track-record of signing agreements to supply big FMCG brands with solutions to green up their packaging. The list goes from Pepsico, CocaCola and L´Oreal in 2018 and more recently the French cosmetic company L´Occitane in 2019.
On January 27th, 2020, Firmenich, the fragrance and flavour company announced that they participated to the Series A round of Loop Industries.
This confirms again that there is a strong business case for startups focusing on circular economy solutions. Established multinationals need urgently to address their stakeholders' requests for real commitment to sustainability in the way they produce and pack, while their shareholders want to hedge their risks...
Certainly more good news to come for Circular Economy Startups this year!