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LOOP-News
LOOP-Events
Loop Industries Q1 Revenue $179,000
Reports Q1 revenue $179,000 vs. $252,000 last year."Our commercial momentum is continuing as we engage in constructive discussions with leading global apparel and consumer brands eager to secure Loop's virgin-quality polyester," said Daniel Solomita, Founder and CEO of Loop Industries. "This traction is demonstrated by our recent LOI with a major global apparel brand. Although long-term agreements fall outside their standard procurement practices, they executed this LOI to position themselves to secure a portion of our volume and help work towards their stated objectives of reducing their carbon footprint by increasing the recycled content in their products. Concurrently, our engineering teams are driving excellent progress in India and are fully prepared to deploy that expertise as we begin work on our European development."
Loop Industries Appoints Jeffrey Geygan to Board of Directors
Loop Industries announced the strategic appointment of Jeffrey Geygan to its Board of Directors, effective immediately. Mr. Geygan serves as Chairman of Global Value Investment Corporation , a long-term institutional shareholder. In tandem with his appointment, GVIC has formalized its intent to deepen its financial commitment to Loop. Subject to market conditions and compliance with applicable securities laws, GVIC intends to increase its total ownership position to at least 10% of the Company's outstanding common shares.
Loop Industries Signs MOU with Gujarat Government
Loop Industries announced that its joint venture, Ester Loop Infinite Technologies, has signed a Memorandum of Understanding with the Government of Gujarat to support the development of Loop's India manufacturing platform. The agreement is expected to facilitate permitting, infrastructure coordination, and administrative processes for the project, which represents Loop's first large-scale commercial deployment. The project is situated in Gujarat's Bharuch industrial corridor, providing access to established infrastructure, logistics, and nearby sources of low-cost feedstock. The site has been secured with sufficient capacity to support multiple facilities, enabling a phased expansion strategy at the location. The initial facility is designed for approximately 70,000 tonnes of annual production capacity, with the ability to expand through a second facility of approximately 100,000 tonnes at the same site. Based on current engineering assumptions and foreign exchange rates, the estimated capital cost for the initial India facility is currently expected to be approximately $165M-170M, compared to prior estimates of approximately $190M. The improvement primarily reflects favorable foreign exchange movements, ongoing procurement refinement, and land-related cost considerations.
Loop Industries Selects Germany for First European Plant
Loop Industries announced that its joint venture, Infinite Loop Europe, has selected BASF Industriepark Lausitz in Schwarzheide, Germany, as the site for its inaugural European manufacturing facility. Led by Reed - Societe Generale Group, the project will be the second Infinite Loop facility globally and the first under Loop's licensed technology model. This selection marks a major step in Loop's global commercialization strategy, with the site expected to be operational by 2030. The development follows the December 2024 technology license agreement and the formation of Infinite Loop Europe. Loop previously received a EUR 10 million upfront license payment and expects to begin generating incremental engineering and license revenue during the development phase, commencing in 2026 as the project advances through engineering and permitting. Infinite Loop Europe reflects Loop's strategic licensing model, designed to accelerate the global rollout of its technology alongside well-capitalized institutional partners. The selection of Industriepark Lausitz reinforces the robustness of Loop's technology within one of the world's most rigorous regulatory environments.
Loop Industries Appoints Spencer Hart as CFO
Loop Industries announced the appointment of Spencer Hart as CFO, effective January 15, 2026. 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. 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. Mike De Notaris, who has recently served as Interim CFO, will continue with Loop in his role of Vice President of Corporate Development and report to Mr. Hart.
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