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 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 (NASDAQ:LOOP) will participate in a fireside chat with Water Tower Research on August 23, 2022, at 11am EDT. Daniel Solomita, the Founder and CEO, will discuss the company's mission to accelerate a circular plastics economy through 100% recycled PET plastic and polyester fiber. Loop utilizes patented technology to recycle low-value PET waste into virgin-quality resin suitable for food-grade packaging. This initiative supports sustainability efforts and aims to reduce plastic waste.
Loop Industries (NASDAQ:LOOP) announced participation in the 42nd Annual Canaccord Genuity Growth Conference from August 8-11, 2022. CFO Drew Hickey and VP of Communications Kevin O'Dowd will present on August 11th at 10:00 A.M. Eastern time, with one-on-one meetings throughout the event. The presentation will be webcast live and available for replay.
Loop is dedicated to creating a circular economy through 100% recycled PET plastic and polyester fiber, utilizing proprietary technology to convert waste plastics into virgin-quality resin.
Loop Industries, Inc. (NASDAQ:LOOP) provided a Q1 FY2023 update, reporting a net loss of $18.01 million, an increase of $5.85 million from the prior year. General and administrative expenses surged by $7.88 million, mainly due to stock-based compensation tied to a supply agreement. The company upgraded its Terrebonne facility to enhance production capacity and is advancing plans for the Infinite Loop facilities in North America, Europe, and Asia. CEO Daniel Solomita emphasized a focus on financing plans for commercialization and the transformative potential of Loop's sustainable plastics technology.
Loop Industries (NASDAQ: LOOP) will discuss its Q1 2023 financial results during a corporate update call on July 14, 2022, at 10:00 AM ET. The results are set to be announced after the market closes on July 13. Loop focuses on producing 100% recycled PET plastic and polyester fiber, supporting a circular economy. Participants can join via various toll-free numbers from countries including Canada, the USA, and the UK. A recording of the call will be available until July 28, 2022.
Loop Industries, along with SUEZ and SK Geo Centric (SKGC), has announced an expanded partnership to establish the first Infinite Loop manufacturing facility in Europe. SKGC will become an equal partner in this venture, enhancing the project with its petrochemical expertise. The facility aims to produce 70,000 M/T of 100% recycled PET plastic, targeting European sustainability goals and potentially saving over 255,000 tons of CO2 emissions annually. Construction is expected to start in 2023, supporting 2025 recycled content targets for consumer brands.
Loop Industries (Nasdaq:LOOP) will present at three investor conferences in June 2022. The events include the Stifel 2022 Cross Sector Insight Conference on June 7 at 9:10 AM EDT in Boston, the Scotiabank ESG Conference and Sustainability Summit on June 14-15 virtually, and the ROTH London Conference from June 21-23 in London. Loop Industries focuses on sustainable PET plastic and polyester fiber, utilizing proprietary technology to convert waste plastics into virgin-quality materials, contributing to a circular economy.
Loop Industries, a clean tech company focused on recycled PET, announced a multi-year supply agreement with Danone for increased production from its Bécancour facility. In fiscal 2022, the company reported a net loss of $44.9 million, driven by increased R&D expenditures and a contingency loss from a legal settlement. The company has completed facility upgrades and engineering design work, positioning itself for growth in the recycling sector. Loop aims to meet rising demand for sustainable packaging in North America and Europe, with significant expansions planned for Asia.
Loop Industries has secured a multi-year supply agreement with Danone to provide Loop™ PET resin made from 100% recycled content. This 5-year deal will supply Danone brands, including evian, from the upcoming Infinite Loop™ manufacturing facility in Bécancour, Quebec, set to begin production in Q4 2024. This agreement reinforces Loop's commitment to a circular economy in packaging and highlights its successful technology validation, boosting its market position as a leader in sustainable plastics.
FAQ
What is the current stock price of Loop Industries (LOOP)?
What is the market cap of Loop Industries (LOOP)?
What does Loop Industries, Inc. specialize in?
What is the mission of Loop Industries?
What recent partnerships has Loop Industries announced?
What is the Infinite Loop™ technology?
How does Loop Industries contribute to sustainability?
What types of products are made from Loop's recycled PET resin?
Where can I find more information about Loop Industries?
What are the financial benefits of Loop's partnership with Reed Management?
How does Loop's technology impact the pharmaceutical industry?
What stock exchange is Loop Industries listed on?
