Canadian chemical recycling technology company Loop Industries announced last week that it plans to establish a joint venture with European investment firm Reed Management. The two partners had signed a non-binding memorandum of understanding establishing the groundwork for a new strategic long-term partnership that would see them establish a 50/50 joint venture to commercialise Loop Industry's PET depolymerisation technology in Europe.
Part of Reed's investment would cover the initial costs of developing projects in Europe, including Loop's equity contribution to the proposed chemical recycling plant in Saint-Avold, France that the company is developing as part of a joint venture with French environmental services company Suez and the Korean company SK Geo Centric (SKGC)....
