Loop Industries, a company specializing in waste valorization and recycling, has just announced that its first French factory will be built in Port-Jérôme in Normandy. The objective of this new factory is to help and support the sustainable development objectives of consumer goods companies, especially those belonging to the cosmetics industry.
Loop Industries is coming to Europe. With this new project, the group expects to produce 70,000 tons of quality PET from 100% recycled material. At full capacity, the plant is expected to save more than 255,000 tons of CO2 per year compared to virgin PET resin made from fossil fuels.
“The site is strategically located to transport plastic waste via the Seine River from the Paris region and is ideally situated to supply major French consumer goods brands. The capital investment required for the project is approximately €250 million and the project is expected to create 180 full-time jobs in manufacturing and engineering. The next major steps for the project include obtaining permits, finalizing supply agreements with customers and financing which includes support from the French government,” said Loop Industries.
The project is scheduled to begin in 2023 with commissioning (approximately) 18 months later.
