Elite Secures Multi-Year LOI From Leading Global Sports Brand For Recycled PET Resin
Ester Loop Infinite Technologies Private Limited (ELITe), the 50:50 joint venture between Ester Industries Limited and Loop Industries, has secured a significant commercial commitment with a leading global sports and athletic brand for the supply of Loop™ PET Fiber Grade resin.
Under a multi-year Letter of Intent (LOI) signed by Loop Industries, the global brand intends to source up to 15,000 metric tonnes of Loop™ resin annually from ELITe’s upcoming manufacturing facility in India.
The development marks another major milestone for ELITe following its earlier partnership announcement with global sportswear giant Nike. With commitments now secured from two leading international sports brands, a substantial portion of the planned production capacity of the upcoming facility has already been earmarked ahead of commercial operations.
Commenting on the development, Arvind Singhania, Chairman, Ester Industries Limited, said, “We are pleased to share that our JV partner, Loop Industries, has secured interest from another premier global brand for the upcoming ELITe facility. 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.”
Daniel Solomita, Founder and Chief Executive Officer of Loop Industries, added, “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.”
Scheduled to commence operations in 2028, the ELITe facility will utilize Loop Industries’ proprietary depolymerization technology to convert 100% polyester textile waste into virgin-quality monomers, which will then be polymerized into polyester resin suitable for high-performance textile applications.
The project represents a significant step towards advancing circular textile manufacturing and reducing dependence on virgin fossil fuel-based polyester. Initial resin testing and feedstock validation have already delivered encouraging results, supporting future material qualification and long-term supply chain integration with global brand partners.
The project remains on track, with land acquisition expected to be completed within the next few months. Following the completion of Front-End Engineering Design (FEED) by Tata Consulting Engineers, ELITe has awarded the detailed engineering contract to Toyo Engineering India Private Limited.
The latest LOI further strengthens ELITe’s position as an emerging player in textile-to-textile recycling and highlights growing global demand for sustainable polyester solutions from leading apparel and sportswear brands.
