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. operates as a clean technology company focused on circular plastics and polyester. Its patented and proprietary depolymerization technology breaks down low-value PET plastic and polyester fiber, including packaging, carpets and clothing, into DMT and MEG monomers that can be used to make Loop™ and Twist™ branded PET resin for packaging and fiber applications.
Company news commonly covers quarterly results, commercialization of Infinite Loop™ projects, licensing and joint-venture arrangements, offtake agreements, engineering milestones, strategic alliances with polyester and apparel participants, investor conferences, and leadership or finance updates. Developments frequently connect the company’s technology platform with recycling, textile-to-textile polyester and food-grade packaging markets.
Loop Industries, a leader in sustainable plastics, has appointed Sheila Morin as the new Chief Marketing Officer, effective September 21, 2020. Morin brings over 20 years of marketing experience, having previously served as CMO at Cirque du Soleil and worked with brands like Procter & Gamble and L'Oréal. Her role at Loop will focus on global branding and customer experience, crucial for the company's upcoming global expansion plans. Loop aims to contribute to a circular economy by offering sustainable solutions that minimize reliance on fossil fuels.
Loop Industries (NASDAQ:LOOP) has successfully completed an underwritten public offering, raising approximately $24 million. A total of 1,880,000 shares were sold at $12.75 each, with an additional option for underwriters to purchase up to 282,000 more shares within 30 days. The funds will support working capital, general corporate purposes, and ongoing R&D initiatives. Roth Capital Partners managed the offering under an existing registration statement. The press release includes forward-looking statements, and potential investors should review all related documents filed with the SEC.
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.