National, 14 August 2026 — Ester Industries Limited (BSE: 500136, NSE: ESTER), a leading Indian manufacturer of polyester films and specialty polymers, today announced that its joint venture partner, Loop Industries, Inc. (NASDAQ: LOOP), has signed a non-binding Letter of Intent (LOI) with a leading global sports and athletic brand, for the supply of Loop™ PET Fiber Grade resin.
Under a multi-year commercial framework, the company intends to offtake up to 15,000 metric tons of Loop™ resin, annually. The resin will be supplied from the upcoming manufacturing facility in India operated by ELITe (Ester Loop Infinite Technologies Private Ltd.), the 50:50 joint venture between Ester Industries and Loop Industries.
The prospective agreement marks a further commercial milestone for ELITe, coming on the heels of the earlier announcement with the global sportswear leader, Nike. With this new LOI, a substantial portion of the planned annual capacity of the upcoming facility in India is now covered by commitments from marquee global sports brands, well ahead of commercial start-up.
“We are pleased to share that our JV partner, Loop Industries, has secured interest from another premier global brand for the upcoming ELITe facility,” said Mr. Arvind Singhania, Chairman, Ester Industries Limited. “With Nike already on board as our anchor customer, this second commitment from a premier sports brand reaffirms the strong market demand for circular, textile-to-textile recycled polyester, and further validates ELITe’s strategic position in accelerating sustainable manufacturing globally.”
Adding to the milestone, Mr. Daniel Solomita, Founder and Chief Executive Officer of Loop Industries shared, “This agreement is a strong validation of our technology’s ability to deliver virgin-quality, sustainable resin at commercial scale. As we move ELITe towards operations in 2028, growing interest from marquee global brands reinforces the demand we’re seeing for infinitely recyclable PET, and strengthens the long-term commercial case for this facility.”
Expected to become operational in 2028, the ELITe facility will use Loop’s proprietary depolymerization technology to convert polyester 100% textile waste streams into virgin-quality monomers DMT & MEG which will then be polymerized into polyester resin. Initial resin testing and feedstock validation work has already produced positive preliminary results, paving the way for full material qualification and long-term supply chain integration with global brand partners.
The collaboration underscores a shared vision to scale circular textile manufacturing, reduce dependence on virgin fossil fuel-based polyester, and build low-carbon supply chains across global markets.
ELITe’s India facility remains on track, with land acquisition expected to conclude within the next two to three months. Following completion of the Front-End Engineering Design (FEED) by Tata Consulting Engineers, ELITe has awarded the detailed engineering contract to Toyo Engineering India Private Limited.
About Ester Loop Infinite Technologies Pvt. Ltd. (ELITe)
ELITe is a 50:50 joint venture company between Ester Industries Limited and Loop Industries, Inc. (Nasdaq: LOOP), established to build and operate India’s first Infinite Loop™ manufacturing facility at Nandida, Vagara, Bharuch, Gujarat. The facility at Gujarat will produce Twist™ and Loop™ branded virgin-quality PET resin from polyester waste, serving global packaging and apparel brands with certified, traceable, infinitely recyclable circular polyester.
About Ester Industries Limited
Ester Industries Limited (BSE: 500136 | NSE: ESTER), incorporated in 1985, is a leading Indian manufacturer of Polyester Films, Specialty Polymers and R – PET with over 40 years of expertise in advanced material solutions. The company operates manufacturing facilities at Khatima and Sitarganj in Uttarakhand and at Hyderabad in Telangana, with a combined annual capacity of 67,000 TPA of Polyester Resin, 30,000 TPA of specialty polymers and over 1,08,000 TPA of Polyester Film. Ester’s products are exported to customers across 50+ countries in the packaging, textiles, electrical, automotive, and consumer goods sectors. For more information, visit www.esterindustries.com.
About Loop Industries, Inc.
Loop Industries, Inc. (Nasdaq: LOOP) is a clean technology company headquartered in Terrebonne, Quebec, Canada, whose mission is to accelerate the world’s shift to a circular plastics economy. Loop’s patented Infinite Loop™ technology depolymerises waste PET plastic and polyester fibre into their base monomers — DMT and MEG — which are purified and repolymerised into Loop™ and Twist™ branded virgin-quality PET resin, suitable for food-grade packaging and high-performance polyester fibre, and infinitely recyclable without degradation. For more information, visit www.loopindustries.com.
