IVL Forms USA Subsidiary to Further Innovation of Sustainable Polyester Resin

Indorama Ventures Public Company Limited (IVL) has entered into a Joint Venture Agreement with Loop Innovations, LLC, USA through its indirect subsidiary, Indorama Ventures Holdings LP, USA, on September 24th, 2018 to form a 50:50 joint venture limited liability company in USA. A new joint venture company by the name of Indorama Loop Technologies, LLC. (ILT) will be later formed.

Leveraging its long-standing advocacy of the circular polyester (PET) economy through collaboration with technology developers such as Loop Innovations, LLC, IVL is again providing leading sustainable solutions globally.

 

ILT will manufacture and commercialize sustainable polyester resin to meet the growing global demand from beverage and consumer packaged goods companies and will have a worldwide exclusive license to use Loop’s proprietary technology to produce 100% sustainably produced PET resin and polyester fiber with plans to begin production in 1Q20.

This partnership is in line with IVL’s objective of investing globally in the circular economy and

promoting the use of PET, a versatile, competitive and recyclable plastic which provides the benefit of being a sustainable packaging material with a lower carbon footprint across the life-cycle then other packaging materials.