Tillkännagivande • Jan 09
Loop Industries, Inc. Appoints Spencer Hart as Principal Accounting Officer and Principal Financial Officer, Effective January 15, 2026 On January 4, 2026, the Board of Directors (Board) of Loop Industries, Inc. (Company) appointed Mr. Spencer Hart to serve as the company’s principal accounting officer and principal financial officer, effective January 15, 2026. Mr. Hart will continue to serve as a member of the Board following his appointment as Chief Financial Officer. Mr. Hart, age 60, has served as a member of Loop’s Board of Directors since February 2025. Mr. Hart brings over 30 years of experience in investment banking and capital markets, most recently serving as a Senior Managing Director and Senior Advisor at Guggenheim Securities from May 2013 to December 2025. Tillkännagivande • Jan 06
Loop Industries, Inc. Announces Chief Financial Officer Changes Loop Industries, Inc. announced the appointment of Spencer Hart as Chief Financial Officer (CFO), effective January 15, 2026. 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. Tillkännagivande • May 30
Loop Industries, Inc., Annual General Meeting, Jul 18, 2025 Loop Industries, Inc., Annual General Meeting, Jul 18, 2025. Tillkännagivande • Feb 15
Loop Industries, Inc. Appoints Spencer Hart as Member of the Board On February 10, 2025, the board of directors of Loop Industries, Inc. elected Mr. Spencer Hart as a member of the Board. Mr. Hart is an investment banker with over 30 years of experience in capital markets and mergers and acquisitions with leading Wall Street investment banking firms. Tillkännagivande • Jan 17
Loop Industries, Inc. Announces Impairment Charges for the Three Months Ended November 30, 2024 Loop Industries, Inc. announced impairment charges for the three months ended November 30, 2024. For the period, the company announced impairment of machinery and equipment of $8,460,000. Tillkännagivande • Jun 01
Loop Industries, Inc., Annual General Meeting, Jun 28, 2024 Loop Industries, Inc., Annual General Meeting, Jun 28, 2024. Location: ww.virtualshareholdermeeting.com/loop2024., United States Tillkännagivande • May 30
Loop Industries, Inc. to Report Q4, 2024 Results on May 29, 2024 Loop Industries, Inc. announced that they will report Q4, 2024 results After-Market on May 29, 2024 Tillkännagivande • May 23
Loop Industries, Inc. Collaborates with On and Unveils Launch of the Cloudeasy Cyclon Loop Industries, Inc. announced its collaboration with On and unveiled the launch of the Cloud easy Cyclon shoe. This innovative shoe, part of On's Circular Cyclontm program, is a achievement in sustainable footwear, featuring an upper crafted from yarn made with Loop's 100% recycled polyester fiber using the Infinite Looptm fiber-to-fiber recycling technology. This collaboration combines On's commitment to performance and sustainability with Loop's disruptive technology to manufacture a shoe that is not only manufactured with recycled polyester fiber but can also be recycled into new shoes endlessly. This closed-loop system minimizes waste and maximizes sustainability, setting a new standard for environmentally responsible footwear manufacturing. Coloured, multi-material textile waste that was destined to be incinerated was diverted and upcycled into recycled polyester fiber and used in the upper of the Cloudeasy Cyclon shoe. The recycled polyester fiber was created from purified rDMT and rMEG monomers that were manufactured at Loop's depolymerization facility in Terrebonne, Quebec, which were then polymerized into 100% recycled virgin quality Looptm PET resin by Loop's strategic partner, Ester Industries Ltd. On is the first footwear company to launch a shoe using the Infinite Looptm Fiber-To-Fiber Recycling Technology. The Cloudeasy Cyclon represents a new era of sustainable footwear and sets a precedent for circularity in the industry. The Infinite Looptm technology not only reduces reliance on virgin materials produced from fossil fuels but also significantly cuts down carbon emissions by up to 79%. New Risk • Feb 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$30m free cash flow). Revenue is less than US$1m (US$121k revenue). Minor Risk Share price has been volatile over the past 3 months (10% average weekly change). Tillkännagivande • Jan 25
Loop Industries, Inc. and Bormioli Pharma Unveil an Innovative Pharmaceutical Packaging Bottle Manufactured with 100% Recycled Virgin Quality Loop PET Resin at Pharmapack 2024 Loop Industries, Inc. announced that an innovative pharmaceutical packaging bottle manufactured with 100% recycled virgin quality Loop PET resin will be unveiled within the Bormioli booth at Pharmapack Europe 2024. Bormioli Pharma and Loop Industries aim to introduce market-ready solutions for the global pharmaceutical industry and the two companies began to collaborate over a year ago in order to achieve this goal. Bormioli Pharma tested Loop PET resin in its packaging, commissioning to independent third parties' additional analysis to verify extractables levels with different solutions, also taking in consideration the worst-case scenario. The results of these tests set a new benchmark for recycled plastic products within the pharmaceutical industry, as the bottles produced with Loop PET resin do not release any substance deemed of toxicological relevance. Bormioli Pharma's EcoPositive offering, gathering low-impact packaging solutions, currently constitutes 50% of their standard catalogue, contributing to position itself among the players with the broadest sustainable offerings on the international market. In addition to the independent third-party testing commissioned by Bormioli Pharma, Loop PET resin was also tested by a worldwide leader in laboratory testing services and on December 13th, 2023 Loop announced that test results confirmed its Loop™? PET resin meets the strict requirements and standards outlined by the European Pharmacopeia (Ph.Eur. 3.1.15, Polyethylene Terephthalate for Containers for Preparations not for ParenteralUs) and the United States Pharmacopeia (USP, Plastic Materials of Construction) and is compliant for use in packaging applications in the pharmaceutical industry. Major Estimate Revision • Jan 23
Consensus revenue estimates fall by 13% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$170.0k to US$150.0k. Forecast losses increased from -US$0.38 to -US$0.445 per share. Chemicals industry in the US expected to see average net income growth of 16% next year. Consensus price target up from US$6.15 to US$6.65. Share price was steady at US$3.60 over the past week. Price Target Changed • Jan 21
Price target increased by 8.1% to US$6.65 Up from US$6.15, the current price target is an average from 2 analysts. New target price is 89% above last closing price of US$3.52. Stock is up 40% over the past year. The company is forecast to post a net loss per share of US$0.45 next year compared to a net loss per share of US$0.45 last year. Reported Earnings • Jan 18
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: US$0.089 loss per share (further deteriorated from US$0.021 loss in 3Q 2023). Net loss: US$4.24m (loss widened 319% from 3Q 2023). Revenue missed analyst estimates by 26%. Earnings per share (EPS) also missed analyst estimates by 20%. Revenue is forecast to grow 52% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Chemicals industry in the US. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. Tillkännagivande • Dec 13
Loop Industries, Inc. Announces Its Loop Branded Pet Resin Is Compliant for Pharmaceutical Industry Packaging Applications Loop Industries, Inc. announced that its Looptm branded PET resin has been tested and is compliant for use in packaging applications in the pharmaceutical industry. The rigorous requirements and standards outlined by the United States Pharmacopeia (USP <661.1), Plastic Materials of Construction) and the European Pharmacopeia (Ph.Eur. 3.1.15, Polyethylene Terephthalate for Containers for Preparations not for Parenteral Uses) ensure that materials used in pharmaceutical packaging maintain the highest levels of integrity and do not compromise the safety and efficacy of the enclosed products. Test results executed by a worldwide leader in laboratory testing services confirm that Loop's PET resin has successfully met these requirements, opening new possibilities for sustainable packaging solutions in the pharmaceutical industry. The pharmaceutical industry is increasingly recognizing the importance of adopting sustainable practices and materials to reduce its environmental impact. Loop's 100% recycled virgin quality PET can help support pharmaceutical companies with a sustainable packaging alternative and address the growing demand for environmentally responsible choices in the industry. Major Estimate Revision • Oct 23
Consensus revenue estimates increase by 74%, EPS downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from US$100.0k to US$170.0k. EPS estimate fell from -US$0.355 to -US$0.38 per share. Chemicals industry in the US expected to see average net income growth of 17% next year. Consensus price target of US$6.15 unchanged from last update. Share price was steady at US$3.53 over the past week. New Risk • Sep 10
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$32m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$32m free cash flow). Revenue is less than US$1m (US$200k revenue). Minor Risk Share price has been volatile over the past 3 months (11% average weekly change). Major Estimate Revision • Jul 19
Consensus revenue estimates decrease by 55%, EPS upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from US$890.0k to US$400.0k. EPS estimate increased from -US$0.29 to -US$0.272 per share. Chemicals industry in the US expected to see average net income growth of 12% next year. Consensus price target down from US$6.77 to US$6.60. Share price fell 7.0% to US$3.04 over the past week. Tillkännagivande • Jul 13
Loop Industries, Inc. to Report Q1, 2024 Results on Jul 12, 2023 Loop Industries, Inc. announced that they will report Q1, 2024 results on Jul 12, 2023 Major Estimate Revision • May 25
Consensus revenue estimates decrease by 71%, EPS upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from US$4.61m to US$1.34m. EPS estimate increased from -US$0.347 to -US$0.27 per share. Chemicals industry in the US expected to see average net income growth of 14% next year. Consensus price target down from US$7.03 to US$6.77. Share price fell 5.6% to US$2.84 over the past week. Tillkännagivande • May 19
Loop Industries, Inc., Annual General Meeting, Jun 28, 2023 Loop Industries, Inc., Annual General Meeting, Jun 28, 2023, at 10:00 US Eastern Standard Time. Agenda: To elect five members of the board of directors to hold office until the next annual meeting of stockholders or until their respective successors have been elected and qualified; to ratify the appointment of Pricewaterhousecoopers Llp as company's independent registered public accounting firm for the fiscal year ending February 29, 2024; to hold an advisory vote on executive compensation; and to transact such other business as may properly come before the meeting or any postponement or adjournment thereof. Breakeven Date Change • Feb 28
Forecast to breakeven in 2026 The 5 analysts covering Loop Industries expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$21.8m in 2026. Average annual earnings growth of 58% is required to achieve expected profit on schedule. Major Estimate Revision • Jan 25
Consensus revenue estimates decrease by 42% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from US$1.00m to US$580.0k. EPS estimate unchanged at -US$0.882 per share. Chemicals industry in the US expected to see average net income growth of 16% next year. Consensus price target down from US$9.50 to US$7.03. Share price fell 4.2% to US$2.48 over the past week. Price Target Changed • Dec 29
Price target decreased to US$15.83 Down from US$18.63, the current price target is an average from 3 analysts. New target price is 554% above last closing price of US$2.42. Stock is down 80% over the past year. The company is forecast to post a net loss per share of US$0.88 next year compared to a net loss per share of US$0.99 last year. Tillkännagivande • Dec 23
Loop Announces CFO Changes Loop Industries, Inc. announced a transition in the position of CFO. Effective December 30, 2022, Drew Hickey will leave the Company to pursue other opportunities and Nicolas Lafond is appointed Interim Chief Financial Officer, while the Company evaluates its longer-term needs for this role as it pursues the next stage of its strategic development. Mr. Lafond currently serves as the Company's Director of Finance. Mr. Lafond is a Canadian CPA who joined Loop from public accounting in 2017. During his tenure with Loop, Mr. Lafond has assumed increasing responsibilities within the Company, including corporate affairs and Board matters in addition to financial reporting. Loop's Finance department is also well supported by Mike De Notaris, Vice President Corporate Development. Major Estimate Revision • Jul 20
Consensus revenue estimates fall by 20% The consensus outlook for revenues in 2023 has deteriorated. 2023 revenue forecast decreased from US$940.0k to US$750.0k. Forecast losses increased from -US$0.66 to -US$0.97 per share. Chemicals industry in the US expected to see average net income growth of 26% next year. Consensus price target down from US$20.88 to US$18.63. Share price rose 15% to US$5.54 over the past week. Price Target Changed • Jul 15
Price target decreased to US$18.63 Down from US$20.88, the current price target is an average from 5 analysts. New target price is 270% above last closing price of US$5.04. Stock is down 51% over the past year. The company is forecast to post a net loss per share of US$1.07 next year compared to a net loss per share of US$0.99 last year. Tillkännagivande • Jul 13
Loop Industries, Inc. to Report Q1, 2023 Results on Jul 13, 2022 Loop Industries, Inc. announced that they will report Q1, 2023 results at 4:00 PM, US Eastern Standard Time on Jul 13, 2022 Major Estimate Revision • Jun 03
Consensus revenue estimates fall by 62% The consensus outlook for revenues in 2023 has deteriorated. 2023 revenue forecast decreased from US$4.90m to US$1.84m. Forecast losses increased from -US$0.65 to -US$0.72 per share. Chemicals industry in the US expected to see average net income growth of 25% next year. Consensus price target of US$21.10 unchanged from last update. Share price rose 5.4% to US$5.85 over the past week. Tillkännagivande • May 28
Loop Industries, Inc., Annual General Meeting, Jun 28, 2022 Loop Industries, Inc., Annual General Meeting, Jun 28, 2022, at 10:00 Eastern Daylight. Agenda: To elect five members of the Board of Directors to hold office until the next annual meeting of stockholders or until their respective successors have been elected and qualified; to ratify the appointment of PricewaterhouseCoopers LLP as independent registered public accounting firm for the fiscal year ending February 28, 2023; to hold an advisory vote on executive compensation; and to transact such other business as may properly come before the meeting or any postponement or adjournment thereof. Tillkännagivande • Mar 06
Loop Industries, Inc. Enters into Agreement for the Settlement of Previously Disclosed Consolidated Class Action Lawsuit On March 3, 2022, Loop Industries, Inc. entered into an agreement for the settlement of a previously disclosed consolidated class action lawsuit commenced in October 2020 in the United States District Court for the Southern District of New York and consolidated under the caption In re Loop Industries, Inc. Securities Litigation, Case No. 7:20-cv-08538-NSR, alleging claims for violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The agreement, which is subject to certain conditions, including court approval, requires the Company to pay $3.1 million to the plaintiff class. The Company's total cash contribution to the settlement and outstanding legal fees related to the lawsuit, combined, will be approximately $2.52 million. The remainder of the settlement will be paid by the Company's D&O insurance carriers. The Company intends to use cash on hand to pay its portion of the settlement amount and legal expenses, which are expected to be paid at some point over the next few months. The agreement does not constitute an admission, concession, or finding of any fault, liability, or wrongdoing by the Company or any defendant. There can be no assurance that the agreement will be approved by the court. Breakeven Date Change • Jun 03
Forecast to breakeven in 2025 The 2 analysts covering Loop Industries expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$19.0m in 2025. Average annual earnings growth of 57% is required to achieve expected profit on schedule. Tillkännagivande • Feb 27
Loop Industries, Inc. Announces Executive Changes Loop Industries, Inc. announced that Nelson Gentiletti is retiring, and as such is stepping down from his roles as the Company’s COO. Mr. Andrew (Drew) Hickey will serve as the company’s principal financial officer and principal accounting officer, effective March 1, 2021. Nelson Gentiletti will remain with the Company until April 30, 2021 to ensure a smooth and successful transition of his responsibilities, which includes the completion of the Company’s year-end reporting. Drew Hickey has had a successful career of more than 25 years both in North America and Europe in investment banking with large Canadian banks. He will be responsible for Loop’s corporate functions, including finance and legal. He will also draw upon his strong background in financing activities globally to help drive the commercialization of Loop’s technology. Mr. Solomita and the Board of Directors would also like to express their appreciation to Nelson Gentiletti for his role over the past two years in Loop’s continuing development as a public company, including his leadership in enhancing Loop’s corporate governance, financial controls, and reporting practices, as well as his role in positioning the business for the future. Is New 90 Day High Low • Jan 27
New 90-day high: US$10.38 The company is up 68% from its price of US$6.19 on 28 October 2020. The American market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 21% over the same period. Price Target Changed • Jan 26
Price target raised to US$16.00 Up from US$14.50, the current price target is an average from 2 analysts. The new target price is 61% above the current share price of US$9.92. As of last close, the stock is down 0.9% over the past year. Tillkännagivande • Dec 16
Loop Industries Announces Independent Review Confirming Effectiveness of Patented Technology Loop Industries released the report of an independent verification of Loop's patented Gen II depolymerization technology, which allows waste polyethylene terephthalate ("PET") plastic and polyester fiber to be recycled into virgin-quality PET resin made from 100% recycled content. This verification was conducted by Kemitek, a not-for-profit College Centre for Technology Transfer specialized in the fields of green chemistry and chemical process scale-up. Loop commissioned Kemitek to validate its technology, which turns waste PET plastic and polyester fiber feedstock into its primary building blocks, or monomers: dimethyl terephthalate ("DMT") and monoethylene glycol ("MEG"), which meet established purity criteria for producing virgin-quality PET. Kemitek established a rigorous and independent methodology for this verification: The Kemitek team was on site at Loop's Terrebonne, Quebec facilities for 16 days to verify each step of Loop's technology at Mini-Pilot (25 L reactor) and Pilot scales (6000 L reactor) from feedstock (post-consumer waste PET plastic) to final purified monomers (DMT and MEG). Kemitek received the feedstock directly from Loop's supplier at their facilities. They then dried, sampled, sealed and shipped the waste plastic feedstock to Loop. The feedstock was also sent to an external laboratory by Kemitek for analysis and characterization. Once on site, the Kemitek team took possession of the feedstock, controlled and secured the entire process to ensure the chain of custody at all times via human supervision and numbered lockouts and seals on the equipment. Throughout the process, the Kemitek team took samples at key steps for subsequent analysis to confirm there was no tampering by Loop's team. The final purified monomers were secured by Kemitek and sent for analysis to certified external laboratories (ISO 17025). These analyses confirm the purity of the resulting monomers. The feedstock used throughout the verification consisted of pallets of post-consumer waste PET plastic. In appearance, it was a mix of clear, gray and colored flakes and fines with a PET content varying between 86% and 95%, as determined by a Loop-conducted analysis. Feedstock contaminants identified by external laboratories mandated by Kemitek include printed film, silicone elastomer and polystyrene. Tillkännagivande • Dec 11
Hagens Berman Sobol Shapiro LLP Alerts Loop Industries Investors to Coca-Cola Contract Termination & Application Deadline, Encourages Investors with Losses to Contact the Firm Hagens Berman Sobol Shapiro LLP urges Loop Industries, Inc. investors with significant losses to submit your losses now. A securities fraud class action has been filed and certain investors may have sufficient losses to move for lead plaintiff. The complaint alleges that Loop made false and misleading statements about its purportedly “proven” technology that breaks down PET plastic to its base chemicals at a recovery rate of 100%. The complaint also alleges that Loop misrepresented its partnerships with key customers. Specifically, the complaint alleges that Defendants failed to disclose to investors: (1) that Loop scientists were encouraged to misrepresent the results of Loop’s purportedly proprietary process; (2) that Loop did not have the technology to break PET down to its base chemicals at a recovery rate of 100%; (3) that, as a result, the Company was unlikely to realize the purported benefits of Loop’s announced partnerships with Indorama and Thyssenkrupp. On Nov. 4, 2020 Loop announced Coca-Cola Cross Enterprise Procurement Group terminated its agreement. Tillkännagivande • Nov 19
Rosen Law Firm Reminds Loop Industries, Inc. Investors of Important Deadline in Securities Class Action Rosen Law Firm, reminded purchasers of the securities of Loop Industries, Inc. between September 24, 2018 and October 12, 2020, inclusive, of the important December 14, 2020 lead plaintiff deadline in securities class action. The lawsuit seeks to recover damages for Loop investors under the federal securities laws. According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Loop scientists were encouraged to misrepresent the results of Loop's purportedly proprietary process; (2) Loop did not have the technology to break PET down to its base chemicals at a recovery rate of 100%; (3) as a result, the Company was unlikely to realize the purported benefits of Loop's announced partnerships with Indorama and Thyssenkrupp; and (4) as a result of the foregoing, defendants' positive statements about Loop's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages. Is New 90 Day High Low • Oct 29
New 90-day low: US$6.19 The company is down 40% from its price of US$10.29 on 31 July 2020. The American market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Recent Insider Transactions • Oct 16
Independent Director recently bought US$86k worth of stock On the 13th of October, Jay Stubina bought around 10k shares on-market at roughly US$8.58 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$166k more in shares than they have sold in the last 12 months. Tillkännagivande • Oct 15
Wolf Haldenstein Adler Freeman & Herz LLP Files Class Action Lawsuit Against Loop Industries, Inc Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of persons and entities that purchased or otherwise acquired Loop Industries, Inc. securities between September 24, 2018 and October 12, 2020, inclusive (the “Class Period”). On October 13, 2020, Hindenburg Research published a report alleging, among other things, that “Loop’s scientists, under pressure from CEO Daniel Solomita, were tacitly encouraged to lie about the results of the company’s process internally.” The report also stated that “Loop’s previous claims of breaking PET down to its base chemicals at a recovery rate of 100% were ‘technically and industrially impossible’” according to a former employee. Moreover, the report alleged that “Executives from a division of key partner ThyssenKrupp, who Loop entered into a ‘global alliance agreement’ with in December 2018, told their partnership is on ‘indefinite’ hold and that Loop ‘underestimated’ both costs and complexities of its process. Is New 90 Day High Low • Oct 14
New 90-day low: US$7.83 The company is down 13% from its price of US$9.00 on 16 July 2020. The American market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Tillkännagivande • Oct 02
Loop Industries, Inc. has completed a Follow-on Equity Offering in the amount of $23.97 million. Loop Industries, Inc. has completed a Follow-on Equity Offering in the amount of $23.97 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 1,880,000
Price\Range: $12.75
Discount Per Security: $0.6375 Tillkännagivande • Sep 17
Loop Industries and Suez Announces Strategic Partnership to Build First Infinite Loop™ Facility Loop Industries and SUEZ announced plans to build the first Infinite Loop™ recycling facility in Europe. Based on enhanced recycling, the partnership will combine the resource management expertise of SUEZ and Loop’s unique breakthrough technology for the production of virgin quality, food grade, 100% recycled and infinitely recyclable plastic. Located in Europe, the new facility will offer a sustainable and truly needed solution to global consumer goods companies. Loop’s patented and proprietary low-energy technology enables waste plastic to be recycled an infinite number of times, with no degradation in quality. Combined with the expertise of SUEZ, the Infinite Loop™ facility will respond to huge growth in demand in Europe from global beverage and consumer goods brand companies, committed to aggressive targets for a high level of recycled content in their products. This new enhanced recycling facility dedicated to PET1 plastic will be the large in the world, with the potential to produce the equivalent of approximately 4.2 billion food grade beverage bottles2 made of 100% recycled and infinitely recyclable PET plastic annually. With this partnership, Loop Industries and SUEZ intend to build in Europe a new Infinite Loop™ recycling facility which will bring an end-of-life solution to the waste plastic inputs currently not recycled. This will directly increase recycling rates in the country where it will be built. Final site selection and engineering are targeted to be completed by mid-2021 and commissioning of the facility is currently projected in 2023.