Loop Industries Inc LOOP

GARNIER LAUNCHES FIRST MICELLAR BOTTLE MADE OF PREVIOUSLY UNRECYCLABLE PET PLASTIC WASTE¹

THE BEAUTY BRAND HAS DEVELOPED A NEW 100% RECYCLED AND INFINITELY RECYCLABLE PET PLASTIC BOTTLE² FOR THEIR BESTSELLING MICELLAR WATER USING LOOP INDUSTRIES' BREAKTHROUGH INFINITE LOOP TECHNOLOGY

CLICHY, France and TERREBONNE, Canada, April 19, 2023 /PRNewswire/ -- Garnier, one of the world's largest mass market beauty brands, will strengthen their commitment to fight plastic waste and help enter a more circular packaging model, by partnering with Loop Industries, Inc. (Nasdaq: LOOP), a technology company whose mission is to accelerate a circular plastics economy by manufacturing 100% recycled polyethylene terephthalate ("PET") plastic. Materials that used to be considered unrecyclable waste, or low value plastic such as colored or opaque plastic bottles, can now be transformed to create 100% recycled and infinitely recyclable virgin-quality PET plastic³. Garnier will pilot this technology in the brand's first Micellar Cleansing Water All-In-1 bottle made of plastic waste previously considered as an unrecyclable material¹.

By revamping Garnier's bestselling Micellar Water bottles to be made of 100% recycled PET plastic² from previously unrecyclable plastic¹ by Loop Industries, the ambition of both companies is to accelerate the circular plastics economy. Plastic is a useful material because it is affordable and convenient, more so than glass and metal for example. However, its mechanical recycling process is limited by various technical constraints. The depolymerization technology uniquely developed by Loop Industries is a major step in tackling the low level of recyclability of plastic and opens new opportunities for industry players.

The Loop logo, featured on the front of this packaging innovation, serves as an anchor to highlight Loop's revolutionary technology, the quality of materials and the bottle's recyclability. The inclusion of Loop branding on the packaging strongly supports Garnier's sustainability goals by promoting the infinitely recyclable potential of the product and brings awareness to PET plastic circularity.

This packaging innovation will first hit the shelves in April 2023 in Garnier's largest market, the US and the brand's home market of France.  

WHAT IS LOOP INDUSTRIES BREAKTHROUGH TECHNOLOGY?
Loop Industries, a Canadian-based technology company located in Terrebonne, Québec, has developed an innovative depolymerization technology that utilizes low heat and no added pressure to convert low value plastic and polyester fiber waste into 100% recycled virgin-quality Loop™ PET resin. Loop™ PET resin is suitable for both food-grade packaging and polyester fiber applications and, if sorted correctly, is infinitely recyclable.

This future-facing partnership and pioneering recycling process will help Garnier save PET plastic waste that cannot yet be recycled within conventional recycling processes. By combining its iconic Micellar Cleansing Water and Loop Industries' innovative technology, Garnier is taking another step forward in the brand's long-standing commitment to increasingly create more sustainable packaging for their products.

Together, Garnier and Loop Industries work to create value out of difficult to recycle PET plastic waste and will explore new avenues to develop innovative initiatives for both the people and the planet.

Adrien KOSKAS, Garnier's Global Brand President, said: "Garnier stands for Green Beauty For All Of Us, consistently working towards concrete actions to become a more sustainable beauty brand. We are proud to be working with Loop Industries to launch the first Garnier Micellar Water bottle made of previously unrecyclable PET plastic waste. This technology has the potential to change the game when it comes to recycling and our partnership demonstrates our continued efforts to bring to market more environmentally friendly packaging, as part of our bold commitment to encourage plastic circularity."

Daniel SOLOMITA, Founder and CEO of Loop Industries, added: "At Loop, our mission has centered around building a circular economy in which PET waste is not sent to landfills or incinerated but is infinitely recycled. This partnership with the Garnier brand is an important step towards making circularity the norm and showcasing that today's waste can be tomorrow's resource. We are proud to work with forward-thinking partners such as Garnier, who are determined to make a positive change."

Notes to editors:

About Garnier:
Garnier is an accessible global beauty brand, with a mission to bring Green Beauty to all of us. Since 1904, Garnier has been offering products inspired by nature and powered by Green Sciences, for maximum efficacy for the people and minimum impact on the planet. We believe beauty is a force for good. From empowering all of us to take #OneGreenStep to support communities at the forefront of the climate crisis. Committed to providing more transparency, Garnier was the first mass beauty brand to launch a pioneering Product Environmental and Social Impact Labelling scheme allowing consumers to make more sustainable choices. The Garnier brand is animated by its daughter brands: Fructis, Ultra Doux, Garnier Bio, SkinActive, Ambre Solaire, Olia, and Nutrisse. All Garnier products are globally approved by Cruelty Free International under the Leaping Bunny Programme.
For more information: www.garnier.co.uk

Garnier key facts & figures:

• Sold in 64 countries.
• 2 billion products produced each year.
• All Garnier products, globally, are approved by Cruelty Free International under the Leaping Bunny programme.
• Garnier commits to Green Beauty a complete end-to-end approach to sustainability. The aim is to transform every stage of Garnier's value chain, reducing or eradicating environmental impact in the following areas:

More recycled & recyclable materials:

• In 2021, 12,200 tons of virgin plastic were avoided, thanks to the use of recycled plastic
•  In 2021, 31% of our annual plastic consumption is with the use of recycled plastic

Greener sciences & formulas:

• By 2023, all bio-based ingredients will be sustainably sourced
• By 2025, 100% of Garnier's new and renovated products will have an improved environmental profile
• 65% of our ingredients are bio-based or derived from abundant minerals or from circular processes

More renewable energy:

• 100% carbon-neutral industrial sites by 2025, using renewable energy
• 62% of our industrial sites are already carbon neutral

More solidarity sourcing and inclusivity:

• By 2025 Garnier will have empowered 1,500 communities worldwide as part of its Solidarity sourcing programme

In addition, to help fight against the impact of plastic pollution Garnier has partnered with two organizations:

• Ocean Conservancy - helping with the environmental impact of plastic pollution.
• Plastics For Change - helping with the social impact of plastic pollution.

About Loop Industries:
Loop Industries is a technology company whose mission is to accelerate the world's shift toward sustainable PET plastic and polyester fiber and away from our dependence on fossil fuels. Loop Industries owns patented and proprietary technology that depolymerizes no and low-value waste PET plastic and polyester fiber, including plastic bottles and packaging, carpets and textiles of any color, transparency or condition and even ocean plastics that have been degraded by the sun and salt, to its base building blocks (monomers). The monomers are filtered, purified and polymerized to create virgin-quality Loop™ branded PET resin suitable for use in food-grade packaging and polyester fiber, thus enabling our customers to meet their sustainability objectives. Loop™ PET plastic and polyester fiber can be recycled infinitely without degradation of quality, successfully closing the plastic loop. Loop Industries is contributing to the global movement towards a circular economy by reducing plastic waste and recovering waste plastic for a sustainable future.
Common shares of the Company are listed on the NASDAQ Global Market under the symbol "LOOP."
For more information, please visit www.loopindustries.com
Follow Loop on Twitter: @loopindustries, Instagram: loopindustries, Facebook: Loop Industries and LinkedIn: Loop Industries

Forward-Looking Statements:
This news release contains "forward-looking statements" as defined in the U.S. Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "should," "could," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or "continue" the negative of such terms or similar words. These forward-looking statements include, without limitation, statements about Loop's market opportunity, its strategies, ability to improve and expand its capabilities, competition, expected activities and expenditures as Loop pursues its business plan, the adequacy of its available cash resources, regulatory compliance, plans for future growth and future operations, the size of Loop's addressable market, market trends, and the effectiveness of Loop's internal control over financial reporting. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond Loop's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with among other things: (i) commercialization of Loop's technology and products, (ii) Loop's status of relationship with partners, (iii) development and protection of Loop's intellectual property and products, (iv) industry competition, (v) Loop's need for and ability to obtain additional funding relative to its current and future financial commitments, (vi) engineering, contracting and building Loop's planned manufacturing facilities, (vii) Loop's ability to scale, manufacture and sell its products in order to generate revenues, (viii) Loop's proposed business model and its ability to execute thereon, (ix) adverse effects on Loop's business and operations as a result of increased regulatory, media or financial reporting scrutiny and practices, rumors or otherwise, (x) disease epidemics and health related concerns, such as the current outbreak of additional variants of coronavirus (COVID-19), which could result in (and, in the case of the COVID-19 outbreak, has resulted in some of the following) reduced access to capital markets, supply chain disruptions and scrutiny or embargoing of goods produced in affected areas, government-imposed mandatory business closures and resulting furloughs of Loop's employees, government employment subsidy programs, travel restrictions or the like to prevent the spread of disease, and market or other changes that could result in noncash impairments of our intangible assets, and property, plant and equipment, (xi) the outcome of the ongoing SEC investigation or the class action litigation filed against Loop, (xii) Loop's ability to hire and/or retain qualified employees and consultants and (xiii) other factors discussed in Loop's subsequent filings with the Securities and Exchange Commission ("SEC"). More detailed information about Loop and the risk factors that may affect the realization of forward-looking statements is set forth in Loop's filings with the SEC. Investors and security holders are urged to read these documents free of charge on the SEC's web site at http://www.sec.gov. Loop assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

Loop:

Investor Relations:
Kevin C. O'Dowd, Vice-President Communications & Investor Relations
Loop Industries, Inc.
+1 617-755-4602
kodowd@loopindustries.com 

Media Inquiries:
Andrea Kostiuk, VP Marketing & Communications
Loop Industries, Inc.
+1 (450) 951-8555
akostiuk@loopindustries.com 

¹ Considered as a lost resource, as not taken into account by existing recycling streams
² Except cap, labels and additives
³ If correctly sorted

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SOURCE Garnier