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Recycling

South Korea’s SK to buy stake in Loop Industries

by Alexander H. Tullo
June 26, 2021 | A version of this story appeared in Volume 99, Issue 24
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South Korea’s SK Global Chemical will invest $56.5 million in Loop Industries, giving it 10% of the Canadian firm. Loop is developing a technology to break down polyethylene terephthalate (PET) into its raw materials, dimethyl terephthalate and ethylene glycol. Loop says it will use the proceeds to build a plant in Bécancour, Quebec. The companies also intend to build a plant in South Korea in 2022 and a total of four facilities in Asia by 2030. In May, SK bought a 10% stake in the Chinese PET depolymerization firm Shuye Environmental Technology.

Chemical & Engineering News
ISSN 0009-2347
Copyright © 2024 American Chemical Society

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