Loop Industries - LOOP STOCK NEWS

Loop Industries (NASDAQ:LOOP), a clean technology company focused on manufacturing 100% recycled PET plastic and textile-to-textile polyester fiber, has announced key senior leadership changes to support its technology commercialization phase.

The company has promoted Adel Essadam to Chief Operating Officer from his previous role as VP of Science and Technology. Essadam, a recognized expert in plastic chemical recycling, will lead commercial facilities development and global technology licensing initiatives, including involvement in joint ventures with Reed Societe Generale Group and Ester Industries.

Giovanni Catino has been appointed Chief Revenue Officer, advancing from VP of Sales, to lead global supply chain development and polyester fiber partnerships. Additionally, Nicolas Lafond will serve as Interim CFO, replacing Fady Mansour who is departing immediately. The company also welcomed Spencer Hart, a 30-year investment banking veteran, to its Board of Directors on February 10, 2025.

Loop Industries (NASDAQ:LOOP) announced a three-way collaboration with Hyosung TNC and Pleatsmama to produce 100% recycled drawn textured yarn for -edition handbags. The initiative utilizes Loop's Infinite Loop™ textile-to-textile recycling technology, which transforms low-value mixed polyester textile waste into virgin-quality polyester.

The collaboration demonstrates a significant advancement in circular fashion, with Loop supplying recycled polyester chips, Hyosung TNC converting them into high-performance yarn, and Pleatsmama creating eco-friendly handbags. The technology offers substantial environmental benefits, reducing greenhouse gas emissions by up to 80% and requiring up to 91% less non-renewable primary energy compared to traditional virgin polyester production.

This innovation addresses a critical market need, as polyester represents approximately half of the textile market, reaching an estimated 71 million metric tons in 2023. The Infinite Loop™ technology can recycle even the lowest-value polyester waste, regardless of color or composition, providing a sustainable solution for textile waste that traditionally ends up in landfills or is incinerated.

Loop Industries (NASDAQ:LOOP) reported Q3 fiscal 2025 results and significant business developments. The company closed financing and technology licensing transactions with Reed Societe Generale Group for total cash proceeds of $20.8 million, including the issuance of Series B Convertible Preferred Stock and its first technology license sale for European deployment.

The company's Infinite Loop India project is advancing with partner Ester Industries, with groundbreaking expected in Q2 2025 and operations starting in 2027. The facility will produce T2T polyester fiber and bottle-grade PET resin.

Financial results showed revenue of $52,000 for Q3, up from $26,000 in the same period last year. The company recorded a net loss of $11.9 million, compared to $4.2 million in Q3 2023, primarily due to an $8.46 million equipment impairment charge following the termination of the SK Geo Centric joint venture in South Korea.

Loop Industries (Nasdaq:LOOP), a clean technology company focused on manufacturing 100% recycled PET plastic and textile-to-textile polyester fiber, has successfully closed its previously announced strategic and financing transaction with Reed Societe Generale Group. The transaction was completed according to the terms and conditions disclosed by the Company on December 12, 2024, marking a significant step in Loop's mission to accelerate a circular plastics economy.

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.