Loop Industries and Ester Industries' India Joint Venture Awards Detailed Engineering Contract to Toyo for Infinite Loop(TM) India
Rhea-AI Summary
Loop Industries (Nasdaq: LOOP) said its India joint venture ELITe awarded the detailed engineering contract for the Infinite Loop India project to Toyo Engineering India, completing the final engineering milestone ahead of construction.
The facility is designed for 70,000 metric tonnes annual PET resin production, targets construction completion by end of 2027, and follows FEED by Tata Consulting Engineers. Capital expenditures are trending below $176 million with $5 million savings from land acquisition. Debt financing led by KPMG in India is in progress and multiple term sheets from international lenders have been received. A multi-year offtake with Nike is signed as the anchor customer.
Positive
- 70,000 tonnes annual PET resin capacity
- Detailed engineering awarded to Toyo Engineering India
- Construction timeline: completion targeted end of 2027
- CapEx trending below $176M with $5M land savings
- Signed multi-year offtake with Nike
- Multiple lender term sheets received for project financing
Negative
- Debt financing not yet finalized (process ongoing)
- Project relies on anchor customer concentration with Nike
News Market Reaction
On the day this news was published, LOOP declined 4.66%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
LOOP is down 8.1% while peers show mixed moves (e.g., ALTO +2.4%, TSE -12.54%, FSI -4.46%), indicating stock-specific trading rather than a broad sector swing.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Nov 10 | Offtake agreement | Positive | -15.0% | Nike multi-year offtake makes it anchor customer for India facility. |
| Oct 15 | Earnings & update | Positive | +3.8% | Q2 FY2026 shows narrower losses and progress on India/Europe projects. |
| Sep 16 | Offtake agreement | Positive | -2.6% | Taro Plast offtake for Loop™ DMT from planned India facility. |
| Sep 11 | Strategic alliance | Positive | +5.5% | Hyosung TNC alliance to scale textile-to-textile circular polyester. |
| Aug 14 | Strategic alliance | Positive | +0.0% | Shinkong alliance to distribute Twist™ resin to 100+ global customers. |
Positive commercialization and partnership updates on the India Infinite Loop™ project have often seen mixed to negative immediate price reactions, even when they strengthen customer visibility and JV progress.
Over the last few months, Loop has focused on commercializing its Infinite Loop™ technology, especially in India. On 08/14 and 09/11, the company formed strategic alliances with Shinkong and Hyosung TNC to expand circular polyester yarn and fiber offerings. Subsequent news on 09/16 and 11/10 added offtake agreements with Taro Plast and Nike as anchor customers for the planned 70,000-tonne India facility. Q2 FY2026 results on 10/15 highlighted minimal revenue but narrowing losses and advancing project financing, framing today’s engineering milestone within a broader commercialization push.
Market Pulse Summary
This announcement advances the Infinite Loop™ India project into its detailed engineering phase with Toyo, following completed FEED work and land acquisition. The facility is designed for 70,000 metric tonnes of PET resin annually, with capex trending below the $176 million budget and $5 million in land savings. In context of recent offtake agreements and alliances, investors may focus on project financing progress, construction execution toward the end-2027 target, and how these milestones translate into future revenues.
Key Terms
polyethylene terephthalate technical
pet technical
epc technical
offtake agreement financial
AI-generated analysis. Not financial advice.
This contract represents final engineering milestone, as project advances towards beginning of construction.
MONTRÉAL, QUEBEC / ACCESS Newswire / December 16, 2025 / Loop Industries, Inc. (Nasdaq:LOOP) ("Loop"), a clean technology company whose mission is to accelerate a circular plastics economy by manufacturing
The contract will cover the full scope of detailed design, procurement engineering, and technical documentation.
The Infinite Loop™ India manufacturing facility is strategically positioned to address demand in the packaging and textile sectors, designed with an annual production capacity of 70,000 metric tonnes of PET resin. The project is maintaining its anticipated construction timeline, with completion projected for end of 2027. The joint venture recently announced a multi-year offtake agreement signed with Nike, which is positioned as the facility's anchor customer.
The overall Capital Expenditures for the project are trending below the
"We are excited to collaborate with Toyo on this critical phase as we deliver India's first Infinite Loop facility, a model for true circularity, engineered to convert low-value textile and plastic waste into virgin-quality resin, enabling both textile-to-textile and food-contact packaging," said Adel Essaddam, Chief Operating Officer of Loop. "With FEED complete, land secured, Nike signed as anchor customer and detailed engineering now underway, we are on schedule to complete construction by end of 2027 efficiently and competitively deploying our technology in the world's fastest-growing major economy."
"Our detailed engineering partnership with Toyo marks a meaningful step forward in delivering India's first Infinite Loop facility," said Arvind Singhania, Chairman & CEO of Ester Industries. "With the land secured and Nike confirmed as our anchor customer, the project now stands on a strong technical foundation with clear commercial visibility. Toyo brings proven engineering expertise, and together we are moving closer to building a world-class plant that can redefine PET recycling in India. This phase reinforces our commitment to driving circular economy solutions at scale."
"Toyo-I is genuinely delighted to be associated with ELITe in the execution of the Chemical Recycling PET Project at Bharuch, Gujarat," commented Kishor Salunke, Chief Operating Officer (SSBU) of Toyo Engineering India. "The recycling of PET into monomers and then back to a virgin quality PET, is a distinctive initiative. It's a new beginning and in line with our mission i.e. engineering for sustainable growth of the global community. We will turn this project into a legacy while strengthening our business relationship with ELITe."
About Loop Industries
Loop Industries is a technology company whose mission is to accelerate the world's shift toward sustainable PET plastic and polyester fiber and away from its dependence on fossil fuels. Loop Industries owns patented and proprietary technology that depolymerizes no and low-value waste PET plastic and polyester fiber, including plastic bottles packaging and textiles such as carpets and clothing, into its base building block monomers DMT and MEG. The monomers are separated, purified and polymerized to create virgin-quality Loop™ & Twist™ branded PET resin suitable for use in food-grade packaging and polyester fiber, thus enabling our customers to meet their sustainability objectives. Loop™ & Twist™ PET can be recycled infinitely without degradation of quality, helping to close the plastic loop. Loop Industries is committed to contributing to the global movement towards a circular economy by reducing plastic waste and recovering waste plastic for a sustainable future.
Common shares of the Company are listed on the NASDAQ Global Market under the symbol "LOOP."
For more information:
Please visit www.loopindustries.com
Follow Loop on X: @loopindustries, Instagram: loopindustries, Facebook: Loop Industries and LinkedIn: Loop Industries
Follow Twist™ on Instagram: twistbyloop
Investor Relations:
Kevin C. O'Dowd, Investor Relations
Loop Industries, Inc.
+1 617-755-4602
kodowd@loopindustries.com
Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act") and as defined in the United States Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "potential," or "continue," or the negative of such terms and other comparable terminology. These forward-looking statements include, without limitation, statements about anticipated project timelines, capital requirements and revenue opportunities for our project in India, as well as the expected benefits of our offtake agreement with Nike, strategic alliance, and other partnerships including with Toyo. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. Actual results may differ materially from the projections discussed in these forward-looking statements. The economic environment within which we operate could materially affect our actual results. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. These risks and other factors include, but are not limited to, those listed under "Risk Factors." Additional factors that could materially affect these forward-looking statements and/or projections include, among other things: (i) our ability to commercialize our technology and products, (ii) the status of our relationships with our partners, (iii) development and protection of our intellectual property and products, (iv) industry competition, (v) our need for and ability to obtain additional funding relative to our current and future financial commitments, (vi) our ability to continue as a going concern, (vii) engineering, contracting, and building our manufacturing facilities, (viii) our ability to scale, manufacture, and sell our products and to license our technology in order to generate revenues, (ix) our proposed business model and our ability to execute it, (x) our ability to obtain the necessary approvals or satisfy any closing conditions in respect of any of our proposed partnerships, (xi) our joint venture projects and our ability to recover certain expenditures in connection to them, (xii) adverse effects on the Company's business and operations as a result of increased regulatory, media, or financial reporting scrutiny, practices, rumors, or otherwise, (xiii) public health issues, such as disease epidemics, which may lead to reduced access to capital markets, supply chain disruptions, and government-imposed business closures, (xiv) war, regional tensions, and economic or other conflicts including trade disputes and increasing protectionist measures that could impact market stability and our business; (xv) the effect of the continuing worldwide macroeconomic uncertainty and its impacts, including inflation, market volatility and fluctuations in foreign currency exchange and interest rates, (xvi) the outcome of any SEC investigations or class action litigation filed against us, (xvii) our ability to hire and/or retain qualified employees and consultants, (xviii) other events or circumstances over which we have little or no control, and (xix) other factors discussed in Loop's Annual Report on Form 10-K for the fiscal year ended February 28, 2025 filed with the SEC and in Loop's subsequent filings with the SEC. More detailed information about Loop and the risk factors that may affect the realization of forward-looking statements is set forth in Loop's filings with the SEC. Investors and security holders are urged to read these documents free of charge on the SEC's web site at http://www.sec.gov. Loop assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise, unless otherwise required by law.
SOURCE: Loop Industries
View the original press release on ACCESS Newswire
FAQ
What did Loop Industries (LOOP) announce on December 16, 2025 about the India project?
What is the planned production capacity for Infinite Loop India (LOOP)?
When is construction of Loop's Infinite Loop India project expected to be completed?
How much is the Infinite Loop India project expected to cost and are there savings?
Has Loop secured customers or offtake for the India plant (LOOP)?
Is project financing for Infinite Loop India finalized for LOOP?
Who will perform detailed engineering for Loop's India plant (LOOP)?
