Welcome to our dedicated page for Loop Industries news (Ticker: LOOP), a resource for investors and traders seeking the latest updates and insights on Loop Industries stock.
Loop Industries, Inc. (Nasdaq: LOOP) is a clean technology company focused on converting waste PET plastic and polyester textile waste into virgin-quality PET resin through its patented depolymerization process. The Loop Industries news feed on Stock Titan aggregates company-issued press releases and other coverage so readers can follow how the business is advancing its technology, partnerships and commercialization plans.
Recent news highlights Loop’s progress on its Infinite Loop™ India project, a joint venture with Ester Industries. Updates include the agreement to acquire a 93-acre site in Gujarat, India for an Infinite Loop™ manufacturing facility, the award of a detailed engineering contract to Toyo Engineering India Private Limited, and the execution of engineering services agreements under which Loop provides engineering support to the India joint venture. News items also cover multi-year offtake agreements for Twist™ polyester with Nike, Inc. and a leading global sports apparel company, as well as an offtake agreement with Taro Plast S.p.A. for Loop™ DMT from the planned India facility.
Coverage further includes strategic alliances with Hyosung TNC and Shinkong Synthetic Fibers Corporation to expand access to textile-to-textile circular polyester, the launch of Twist™ as a branded circular polyester resin made entirely from textile waste, and periodic financial results where Loop reports revenues from Loop™ PET resin and engineering services. Corporate updates such as the appointment of a new Chief Financial Officer and details of annual stockholder meetings are also reflected.
Investors and observers can use this news page to review Loop’s disclosed milestones in project development, customer agreements, joint ventures, financing arrangements and operational performance, all in one place.
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.
Loop Industries (Nasdaq: LOOP) announced that CFO Fady Mansour and Head of Investor Relations Kevin O'Dowd will attend the 2024 KeyBanc Capital Markets Industrials and Basic Materials Conference from May 28-30 at The Westin Boston Waterfront Hotel. The company will engage in one-on-one meetings with institutional analysts and investors, highlighting their innovative recycling technology and strategic initiatives for sustainability in the plastics industry. The focus will be on Loop's role in promoting a circular economy through 100% recycled PET plastic and polyester fiber production.
Loop Industries (Nasdaq: LOOP) has partnered with Swiss sportswear brand On to launch the Cloudeasy Cyclon shoe. This innovative footwear is made using Loop's Infinite Loop™ fiber-to-fiber recycling technology, crafting its upper from 100% recycled polyester fiber. The partnership aims to set a new standard for sustainable footwear by creating a closed-loop system that minimizes waste and maximizes sustainability. The recycled polyester fiber, produced at Loop's facility in Quebec, reduces carbon emissions by up to 79%. The Cloudeasy Cyclon will be available through On's subscription service, Cyclon™.
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