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Loop Industries, Inc. (NASDAQ: LOOP) is a pioneering technology company dedicated to propelling the transition to sustainable plastics. Specializing in the production of purified terephthalic acid (PTA) and ethylene glycol (EG), Loop Industries utilizes patented technology to transform low-value and waste PET plastic and polyester fiber into high-quality PET resin and polyester fiber. This innovative process includes using degraded ocean plastics, thereby promoting a circular economy and reducing the reliance on fossil fuels.
Loop Industries' core business revolves around its proprietary depolymerization technology, which breaks down PET waste into base monomers and repolymerizes them into virgin-quality products. Their branded PET resin meets stringent standards for use in food-grade and pharmaceutical packaging, as well as in cosmetics and polyester textiles.
Recently, Loop Industries announced a strategic partnership with Reed Management, a European investment firm, to commercialize its technology in Europe with a focus on high-impact and technology-enabled infrastructure projects. This partnership is expected to provide US$66 million in non-dilutive financing for global technology commercialization.
Further, Loop Industries has collaborated with Bormioli Pharma to unveil sustainable pharmaceutical packaging and formed a joint venture with Ester Industries to build an Infinite Loop™ manufacturing facility in India. These strategic alliances are designed to meet the growing demand for sustainable packaging solutions and specialty polymers globally.
Loop Industries continues to advance its mission through its Infinite Loop™ technology, which facilitates the recycling of the lowest quality PET and polyester waste into high-purity recycled products. This approach not only addresses environmental concerns but also helps consumer goods companies achieve their sustainability goals.
Common shares of Loop Industries are listed on the NASDAQ Global Market under the symbol LOOP. For more information, visit www.loopindustries.com and follow Loop on social media platforms.
Loop Industries (LOOP) has secured two significant €10 million transactions with Reed Societe Generale Group: a convertible preferred security financing and its first Infinite Loop™ technology license sale. The convertible preferred security includes a 13% PIK dividend rate, 5-year term, and is convertible to Loop common stock at $4.75 per share.
A European partnership, owned 90% by Reed Societe Generale Group and 10% by Loop, will be formed to develop Infinite Loop™ manufacturing facilities in Europe. Loop maintains the right to increase its stake up to 50% in each facility. The proceeds will support the construction of the Infinite Loop™ facility in India with Ester Industries and finance Loop's operational cash requirements.
Loop Industries (NASDAQ:LOOP) has announced its participation in the 13th Annual ROTH Technology Conference, scheduled for November 19-20, 2024 at the Hard Rock Hotel in New York City. The conference will feature one-on-one and small group meetings, providing attendees with a unique opportunity to engage directly with Loop's executive team.
Loop Industries, a clean technology company focused on manufacturing 100% recycled PET plastic and polyester fiber, will be represented by CEO Daniel Solomita, CFO Fady Mansour, and Head of Investor Relations Kevin O'Dowd. The team will be available for 40-minute sessions throughout the two-day event, offering insights into Loop's technology, strategic direction, and future plans in PET plastic recycling and circular economy contributions.
This conference provides an excellent platform for Loop Industries to showcase its innovative approach to accelerating a circular plastics economy and engage with potential investors.
Loop Industries reported its Q2 fiscal 2025 results and provided updates on financing and commercialization plans. Key highlights include:
1. Reed financing expected to be finalized in November 2024, providing an initial tranche of €10 million in a Convertible Preferred Security.
2. Progress on Infinite Loop™ India manufacturing facility, with Gujarat province selected as the location.
3. Q2 expenses totaled $4.9 million, with a projected run rate of $1.0 million per month for the balance of fiscal 2025.
4. Revenue decreased to $23,000 from $54,000 in the same period last year.
5. Net loss increased slightly to $4.839 million from $4.750 million year-over-year.
The company aims to accelerate a circular plastics economy by manufacturing 100% recycled PET plastic and polyester fiber.
Loop Industries (NASDAQ:LOOP) has announced a significant milestone in its partnership with Reed Management SAS. Societe Generale has agreed to acquire 75% of Reed, potentially securing funding for Reed's planned investments, including a €35 million financing package for Loop. This transaction, subject to closing conditions, would provide Loop with:
1. A €10 million investment in a Convertible Preferred Security with a 13% PIK dividend rate and 5-year term, convertible to Loop stock at $4.75 per share.
2. A €25 million loan in two equal tranches with a 13% PIK interest rate and 3-year term.
This development is important for Loop's global and European deployment opportunities, particularly for the Infinite Loop™ India facility.
Loop Industries (Nasdaq: LOOP), a clean technology company focused on manufacturing 100% recycled PET plastic and polyester fiber, has announced its participation in the Canaccord Genuity 44th Annual Growth Conference. The event is scheduled for August 13-15, 2024, at the InterContinental hotel in Boston, Massachusetts.
During the conference, Loop will engage in one-on-one meetings with institutional investors and financial analysts. These discussions will center on Loop's proprietary technology and recent strategic initiatives aimed at enhancing sustainability and promoting a circular economy within the plastics industry. This participation underscores Loop's commitment to advancing its mission of accelerating a circular plastics economy through innovative recycling solutions.
Loop Industries reported its Q1 fiscal 2025 results and provided an update on commercialization plans. The company is making progress on its Infinite Loop™ manufacturing facility in India with partner Ester Industries. They are securing offtake agreements and selecting an optimal site. Loop expects to close a financing transaction with Reed Management by Q2 end, but is reviewing contingency plans for bridge financing.
Financial highlights:
- Total expenses: $5.2 million
- Net loss: $5.189 million (decreased from $7.001 million in Q1 2024)
- Cash and cash equivalents: $5.291 million
Loop projects a cash expense run rate of approximately $1 million per month for the rest of fiscal 2025, excluding project costs.
Loop Industries (Nasdaq: LOOP), a clean technology company focused on manufacturing 100% recycled PET plastic and polyester fiber, announced its participation in the 10th Annual ROTH London Conference from June 25-27, 2024, at the Four Seasons Hotel London at Park Lane.
CEO Daniel Solomita, CFO Fady Mansour, and Head of Investor Relations Kevin O'Dowd will represent the company. They will engage in one-on-one meetings with institutional analysts and investors, discussing Loop’s recycling technology and sustainability initiatives aimed at advancing a circular plastics economy.
Loop Industries has announced a €35 million financing agreement with Reed Management to fund the global commercialization of its Infinite Loop™ technology. The agreement includes a €10 million Convertible Preferred Security and a €25 million loan, to be provided in two equal tranches. The partnership also involves the formation of a joint venture for deploying Loop’s technology across Europe.
This financing will support Loop's strategy of focusing on low-cost manufacturing in countries like India while adopting an asset-light licensing model in higher-cost regions. However, the completion of the deal is contingent upon Reed raising its initial capital and Loop securing government financing for a monomer facility in India. The companies expect to close the deal by the end of the second fiscal quarter.
Reed Management's CEO, Julien Touati, and Loop Industries' CEO, Daniel Solomita, expressed strong mutual confidence in the strategic partnership, aiming for significant expansion in addressing plastic pollution.
Loop Industries reported its fourth quarter and fiscal year 2024 financial results, highlighting several strategic business developments. On May 1, 2024, Loop signed a 50/50 joint venture agreement with Ester Industries to establish an Infinite Loop™ manufacturing facility in India, with an estimated $165 million investment projected to generate high returns. The company is also progressing well in financing negotiations with Reed Management for European commercialization and considering a monomer facility in Ulsan, South Korea with SK Geo Centric. A notable product launch includes the Cloudeasy Cyclon shoe made with Loop’s recycled polyester fiber. Despite a revenue increase in Q4, 2023 overall saw a net loss of $21.09 million due to higher R&D and reduced gains from asset sales. Research and development expenses decreased by $5.97 million, while general and administrative expenses dropped by $10.44 million year-over-year. Loop plans to hold a corporate update call on May 30, 2024 at 8:30 AM ET to discuss these updates in more detail.
Loop Industries, a clean technology company focused on producing 100% recycled PET plastic and polyester fiber, will hold a corporate update call on May 30, 2024, at 8:30 AM ET. The call will review financial results for Q4 and the full fiscal year 2024, which will be announced on May 29, 2024, after market close. Participants can join via phone or through a registration link for direct access without operator wait times. Key details include call timing, access codes, and registration information.
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