Loop Industries Executes a Multi-Year Offtake Agreement With Nike, the Global Leader in Athletic Footwear and Apparel
Loop Industries, Inc., a clean technology company accelerating the circular economy, today announced a multi-year offtake agreement with NIKE, Inc. (“Nike”), the global leader in athletic footwear and apparel. Under the agreement, Loop will supply Twist(™), its virgin-quality circular polyester resin made exclusively from textile waste, establishing Nike as the anchor customer for the Infinite Loop(™) India manufacturing facility, which is being constructed in partnership with Ester Industries.
This agreement with Nike further advances the implementation of Loop’s commercialization strategy and reflects Nike’s commitment to sustainable innovation. Loop’s Twist(™) resin, a verifiable textile-to-textile solution, will be used to reduce the usage of virgin and recycled flake polyester across Nike’s product lines.
The Infinite Loop(™) India facility(1) is projected to deliver significant environmental savings compared to fossil fuel-based polyester. The facility is expected to achieve an 81% reduction in greenhouse gas emissions and an annual savings of up to 418,600 tonnes of CO₂ emissions(2). This CO₂ saving is equivalent to eliminating more than one billion miles driven by an average gasoline-powered passenger vehicle each year.
All products made with Twist(™) will feature full traceability through Loop’s proprietary chemical tracer technology. This system provides Nike with verifiable proof of textile-to-textile recycled content.
