Loop Industries Appoints Spencer Hart as Chief Financial Officer
Rhea-AI Summary
Loop Industries (Nasdaq:LOOP) announced the appointment of Spencer Hart as Chief Financial Officer, effective January 15, 2026. Mr. Hart, a Board member since February 2025, will transition to a full-time executive role while retaining his board seat and leading global financial strategy and capital markets engagement.
Background: Hart has over 30 years in investment banking and capital markets, most recently at Guggenheim Securities. Interim CFO Mike De Notaris will remain at Loop as Vice President of Corporate Development and report to Hart.
Positive
- Experienced CFO hire with over 30 years in capital markets
- Effective date set for January 15, 2026
- Board continuity retained by CFO remaining on the board
- Internal continuity by Mike De Notaris staying as VP of Corporate Development
Negative
- Governance overlap as CFO will also remain a board member
News Market Reaction – LOOP
On the day this news was published, LOOP gained 3.45%, reflecting a moderate positive market reaction. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $2M to the company's valuation, bringing the market cap to $54M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
LOOP showed a modest 1.5% gain pre-news, while peers were mixed: ALTO -7.32%, TSE +28.8%, FEAM +10.29%, NTIC +2.65%, FSI +1.04%, indicating stock-specific dynamics rather than a unified sector move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 16 | JV project update | Positive | -4.7% | India JV awarded detailed engineering contract and capex trending below $176M. |
| Nov 10 | Offtake agreement | Positive | -15.0% | Multi-year Nike offtake for Twist polyester as India plant anchor customer. |
| Oct 15 | Earnings update | Positive | +3.8% | Q2 FY2026 results with narrower losses and progress on India and Europe projects. |
| Sep 16 | Offtake agreement | Positive | -2.6% | Taro Plast offtake for Loop DMT from planned Infinite Loop India facility. |
| Sep 11 | Strategic alliance | Positive | +5.5% | Hyosung TNC alliance to expand circular polyester via Infinite Loop technology. |
Recent strategically positive announcements often met with mixed or negative next-day price reactions, suggesting the stock has not consistently been rewarded for commercial progress.
Over the last several months, Loop reported multiple strategic milestones, including JV progress in India, offtake agreements with Nike and Taro Plast, and a strategic alliance with Hyosung TNC, alongside Q2 FY2026 results showing narrower losses and limited revenue. Price reactions were mixed, with some positive commercial updates followed by declines. Today’s CFO appointment on Jan 5, 2026 adds a capital-markets-focused leader to support financing and scaling of these previously announced growth initiatives.
Market Pulse Summary
This announcement highlights a leadership transition, with Spencer Hart becoming CFO on January 15, 2026 while retaining his Board seat and bringing over 30 years of capital-markets experience. In the past months, Loop disclosed multiple JVs and offtake agreements tied to its India and Europe projects. Investors may focus on how the new CFO manages global financial strategy, capital access, and execution risk across these initiatives, alongside upcoming financial disclosures and project milestones.
AI-generated analysis. Not financial advice.
MONTRÉAL, QUEBEC / ACCESS Newswire / January 5, 2026 / Loop Industries, Inc. (Nasdaq:LOOP) ("Loop" or the "Company"), a clean technology company on a mission to accelerate a circular plastics economy by manufacturing
Mr. Hart, who has served as a member of Loop's Board of Directors since February 2025, will transition into the full-time executive role to lead the Company's global financial strategy and capital markets engagement. Mr. Hart will also remain a member of the Board of Directors.
Mr. Hart brings over 30 years of experience in investment banking and capital markets, most recently as a Senior Managing Director and Senior Advisor at Guggenheim Securities. His extensive background in corporate finance and strategic growth will be instrumental as Loop continues to scale its proprietary technology and expand its commercial footprint globally.
Mike De Notaris, who has recently served as Interim Chief Financial Officer, will continue with Loop in his role of Vice President of Corporate Development and report to Mr. Hart.
"Since joining our Board last year, Spencer has provided invaluable strategic guidance during a pivotal era for Loop," said Daniel Solomita, Founder and CEO of Loop Industries. "His decision to join us full-time as CFO is a testament to his belief in our technology and our commercial trajectory. Having a leader with Spencer's experience and financial sophistication in our executive leadership, while keeping his seat on the Board, further reinforces our ongoing commitment to maintaining the strongest possible alignment between our operations and our long-term shareholder interests."
Spencer Hart commented on his appointment: "Over the past year on the Board, I have seen firsthand the incredible potential of Loop's technology to solve the global plastic waste crisis. I am thrilled to deepen my commitment to the company by taking on the CFO role. I look forward to working closely with Daniel and the entire executive team to drive financial discipline and secure the capital necessary to fuel the next phase of our global growth."
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 regarding the Company's business strategy, future plans, and expectations in connection with the appointment of its new Chief Financial Officer. 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
Who has Loop (LOOP) appointed as CFO and when does it take effect?
What roles will Spencer Hart hold at Loop (LOOP) after January 15, 2026?
What is Spencer Hart's background for the CFO role at Loop (LOOP)?
What will happen to Interim CFO Mike De Notaris at Loop (LOOP)?
How might Spencer Hart's appointment affect Loop's (LOOP) financial strategy?
