Ester Industries’ JV partner signs LoI for supply of Loop PET Fiber Grade resin

Ester Industries’ joint venture (JV) partner--Loop Industries, Inc. has signed a non-binding Letter of Intent (LOI) with a leading global sports and athletic brand, for the supply of Loop PET Fiber Grade resin. Under a multi-year commercial framework, the company intends to offtake up to 15,000 metric tons of Loop resin, annually. The resin will be supplied from the upcoming manufacturing facility in India operated by ELITe (Ester Loop Infinite Technologies), the 50:50 joint venture between Ester Industries and Loop Industries.

The prospective agreement marks a further commercial milestone for ELITe, coming on the heels of the earlier announcement with the global sportswear leader, Nike. With this new LOI, a substantial portion of the planned annual capacity of the upcoming facility in India is now covered by commitments from marquee global sports brands, well ahead of commercial start-up.

Expected to become operational in 2028, the ELITe facility 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. Initial resin testing and feedstock validation work has already produced positive preliminary results, paving the way for full material qualification and long-term supply chain integration with global brand partners. The collaboration underscores a shared vision to scale circular textile manufacturing, reduce dependence on virgin fossil fuel-based polyester, and build low-carbon supply chains across global markets.

Ester Industries' main business activities are production and marketing of versatile ranges of polyester films and engineering plastics.