Loop Industrial and Nike Sign Multi-Year Procurement Agreement

Loop Industries of Canada has just announced that the company has signed a multi-year procurement agreement with Nike, a company that specializes in apparel and footwear. Under this agreement, Loop will supply Nike with Twist products, which are virgin-grade recycled polyester resins made entirely from textile waste. Loop claims that by adopting Twist, Nike will become a major anchor customer for the Infinite Loop plant in India, which Loop Industries and India's Ester Industries are collaborating to construct.

Loop's Twist resin is a textile-to-textile (T2T) solution that provides products to help Nike's production line reduce the use of virgin materials and recycled polyester from bottle flakes. Loop Industries claims that its recycled polyester material from its Indian factory can reduce greenhouse gas emissions by 81% compared to virgin polyester, while the factory helps reduce carbon dioxide emissions by 418,000 tons annually. Additionally, the company claims that all of Twist's products can be fully traced through its patented chemical marker technology, providing Nike with verifiable T2T recycled content.