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.
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Loop Industries (NASDAQ:LOOP) will participate in a fireside chat with Water Tower Research on August 23, 2022, at 11am EDT. Daniel Solomita, the Founder and CEO, will discuss the company's mission to accelerate a circular plastics economy through 100% recycled PET plastic and polyester fiber. Loop utilizes patented technology to recycle low-value PET waste into virgin-quality resin suitable for food-grade packaging. This initiative supports sustainability efforts and aims to reduce plastic waste.
Loop Industries (NASDAQ:LOOP) announced participation in the 42nd Annual Canaccord Genuity Growth Conference from August 8-11, 2022. CFO Drew Hickey and VP of Communications Kevin O'Dowd will present on August 11th at 10:00 A.M. Eastern time, with one-on-one meetings throughout the event. The presentation will be webcast live and available for replay.
Loop is dedicated to creating a circular economy through 100% recycled PET plastic and polyester fiber, utilizing proprietary technology to convert waste plastics into virgin-quality resin.
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Loop Industries, Inc. (NASDAQ:LOOP) provided a Q1 FY2023 update, reporting a net loss of $18.01 million, an increase of $5.85 million from the prior year. General and administrative expenses surged by $7.88 million, mainly due to stock-based compensation tied to a supply agreement. The company upgraded its Terrebonne facility to enhance production capacity and is advancing plans for the Infinite Loop facilities in North America, Europe, and Asia. CEO Daniel Solomita emphasized a focus on financing plans for commercialization and the transformative potential of Loop's sustainable plastics technology.
Loop Industries (NASDAQ: LOOP) will discuss its Q1 2023 financial results during a corporate update call on July 14, 2022, at 10:00 AM ET. The results are set to be announced after the market closes on July 13. Loop focuses on producing 100% recycled PET plastic and polyester fiber, supporting a circular economy. Participants can join via various toll-free numbers from countries including Canada, the USA, and the UK. A recording of the call will be available until July 28, 2022.
Loop Industries, along with SUEZ and SK Geo Centric (SKGC), has announced an expanded partnership to establish the first Infinite Loop manufacturing facility in Europe. SKGC will become an equal partner in this venture, enhancing the project with its petrochemical expertise. The facility aims to produce 70,000 M/T of 100% recycled PET plastic, targeting European sustainability goals and potentially saving over 255,000 tons of CO2 emissions annually. Construction is expected to start in 2023, supporting 2025 recycled content targets for consumer brands.
Loop Industries (Nasdaq:LOOP) will present at three investor conferences in June 2022. The events include the Stifel 2022 Cross Sector Insight Conference on June 7 at 9:10 AM EDT in Boston, the Scotiabank ESG Conference and Sustainability Summit on June 14-15 virtually, and the ROTH London Conference from June 21-23 in London. Loop Industries focuses on sustainable PET plastic and polyester fiber, utilizing proprietary technology to convert waste plastics into virgin-quality materials, contributing to a circular economy.