Ester-Loop recycled-PET venture lands a second global sports brand, after Nike
ELITe, the Ester Industries-Loop Industries joint venture, said partner Loop signed a non-binding LOI to supply up to 15,000 tonnes a year of recycled PET resin to a second global sports brand, after Nike, from its planned India plant.
ELITe, the 50:50 joint venture between India's Ester Industries and Nasdaq-listed Loop Industries, said Loop has signed a non-binding letter of intent to supply up to 15,000 tonnes a year of its recycled PET fibre resin to a leading global sports and athletic brand, from the venture's planned India facility. It follows an earlier commitment from Nike, meaning a large share of the plant's future capacity is now spoken for by marquee brands well before it starts up in 2028. The deal is a vote for textile-to-textile recycled polyester, but it remains an LOI, non-binding, for a plant two years from operating, and the new brand was not named.
