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 announces a public offering of 1,880,000 shares priced at $12.75 per share, which is expected to raise approximately $24 million. The offering includes an option for underwriters to purchase an additional 282,000 shares within 30 days. The proceeds will support working capital, general corporate purposes, and further research and development. The offering is set to close around September 23, 2020.
Loop Industries (NASDAQ: LOOP) and SUEZ are collaborating to establish the first Infinite Loop™ recycling facility in Europe, aiming to produce 100% recycled and infinitely recyclable plastic. This facility will be the world's largest for PET recycling, potentially generating the capacity for 4.2 billion food-grade beverage bottles annually. The partnership addresses growing demand from brands for sustainable packaging and is projected to save 180,000 tons of CO2 annually. The site selection process is expected to conclude by mid-2021, with commencement of operations targeted for 2023.
Loop Industries (NASDAQ:LOOP) has announced a licensing agreement with Chemtex Global Corporation to utilize INVISTA Performance Technologies' polymerization know-how for its Infinite Loop™ manufacturing facilities. This technology focuses on producing PET resin and polyester fibers from 100% recycled content, promoting sustainability and circular economy practices. An Infinite Loop™ facility can save 135,500 metric tons of CO2 emissions annually, significantly reducing the environmental impact compared to traditional PET production.