Ester JV Secures Multi-Year LOI for 15,000 MT Recycled PET Resin

Ester Industries' 50:50 joint venture, Ester Loop Infinite Technologies Private Limited (ELITe), has secured a multi-year Letter of Intent (LOI) with a leading global sports brand for the supply of up to 15,000 metric tons of Loop™ PET Fiber Grade resin annually. This resin will be produced at ELITe's upcoming manufacturing facility in India, expected to be operational in 2028. This agreement, following a previous announcement with Nike, covers a substantial portion of the facility's planned capacity and validates the market demand for circular, recycled polyester. The facility will utilize Loop Industries' proprietary technology to convert textile waste into virgin-quality PET resin, supporting sustainable manufacturing and reducing reliance on fossil fuels.