Industry And Cluster
Loop Industries and SK Global Chemicals Reach $56.5 Million Strategic Equity Agreement
Published on
Author: Manali Bhanushali
Loop Industries, a leading pioneer in clean technology with the aim of accelerating a circular plastics economy, and SK Global Chemical Co. Ltd. have announced the completion of a $56.5 million equity investment in Loop. The strategic alliance aims to expedite the commercialization of Loop's technology throughout Asia in order to offer global CPG brand businesses with virgin grade PET resin and polyester fibre manufactured from 100% recycled material. Jonghyuk Lee, Vice President of SKGC's Green Business Division, has been named to Loop's Board of Directors.