ELITe Secures Multi-Year LOI for Supply of Up to 15,000 MT of Loop™ PET Fiber Grade Resin Annually

Joint venture between Ester Industries and Loop Industries to supply resin from its planned India facility under proposed multi-year commercial framework

Ester Industries Limited, a manufacturer of polyester films and specialty polymers, stated that the proposed supply will be sourced from the upcoming manufacturing facility of Ester Loop Infinite Technologies Private Limited (ELITe), the 50:50 joint venture between Ester Industries and Loop Industries.

Under the proposed commercial framework, the global sports and athletic brand intends to offtake up to 15,000 metric tons of Loop™ resin annually.

The company said the proposed agreement follows an earlier announcement involving the global sportswear leader, Nike. With the addition of the new LOI, commitments from global sports brands cover a substantial portion of the planned annual production capacity of ELITe’s upcoming India facility before commercial operations begin.

Company statements

Mr. Arvind Singhania, Chairman, Ester Industries Limited, said:

"We are pleased to share that our JV partner, Loop Industries, has secured interest from another premier global brand for the upcoming ELITe facility. With Nike already on board as our anchor customer, this second commitment from a premier sports brand reaffirms the strong market demand for circular, textile-to-textile recycled polyester, and further validates ELITe's strategic position in accelerating sustainable manufacturing globally."

Mr. Daniel Solomita, Founder and Chief Executive Officer of Loop Industries, said:

"This agreement is a strong validation of our technology's ability to deliver virgin-quality, sustainable resin at commercial scale. As we move ELITe towards operations in 2028, growing interest from marquee global brands reinforces the demand we're seeing for infinitely recyclable PET, and strengthens the long-term commercial case for this facility."

Facility planned for 2028 operations

The ELITe facility is expected to become operational in 2028. It will use Loop's proprietary depolymerization technology to convert polyester 100% textile waste streams into virgin-quality monomers DMT & MEG, which will then be polymerized into polyester resin.

According to the announcement, initial resin testing and feedstock validation have produced positive preliminary results, supporting the next stages of material qualification and long-term supply chain integration with global brand partners.

Project progress

The collaboration is intended to support circular textile manufacturing, reduce dependence on virgin fossil fuel-based polyester and develop low-carbon supply chains across global markets.

ELITe's India facility remains on schedule, with land acquisition expected to conclude within the next two to three months. Following completion of the Front-End Engineering Design (FEED) by Tata Consulting Engineers, ELITe has awarded the detailed engineering contract to Toyo Engineering India Private Limited.