Loop Industries Inc. will work with Thyssenkrupp Industrial Solutions AG to combine technologies aimed at advancing plastics recycling.
The two companies have signed what is being called a global alliance agreement that will combine Loop's depolymerization technology with Thyssenkrupp's PET Melt-To-Resin technology, they said.
Both firms are working to assess "the integration of their respective technologies intended to provide a turn-key industrial solution for license to manufacturing companies seeking a commercially viable technology to produce sustainable PET and polyester plastic," according to a statement.
Thyssenkrupp, based in Essen, Germany, is working with Loop through its Uhde Inventa-Fischer GmbH division. Loop is based in Montreal.
The companies want to provide a rapidly scalable waste-to-resin solution by integrating their technologies, they said.
They are now working on a process design package that will become available for license to "global manufacturing companies who will now be able to establish facilities close to urban centers where feedstock is readily available," the firms said in a statement.
Loop's process creates both dimethyl terephthalate and monoethylene glycol without heat or pressure in a process the company calls revolutionary. Those monomers are then purified and repolymerized to create Loop brand PET. Thyssenkrupp said its MTR technology uses a one-step process to create PET resin.