MONTRÉAL, QUEBEC / ACCESS Newswire / June 22, 2025 – Loop Industries, Inc. (Nasdaq:LOOP), a pioneer in sustainable materials, today announced a further step forward in its global expansion. The clean technology company, focused on revolutionizing the polyester supply chain with its 100% recycled PET plastic and polyester fiber, has inked a $1.5 million engineering services agreement with ELITe, its Indian joint venture with Ester Industries Ltd.
This deal underscores the continued roll-out of Loop’s innovative PET depolymerization technology. The new engineering mandate will support ELITe through the construction phase as it gears up for the Infinite Loop™ India facility, with ground-breaking anticipated in the latter half of 2025. This follows on the heels of the initial engineering services agreement with ELITe, which was successfully completed in Q4 of fiscal 2025 and Q1 of fiscal 2026. This further highlights engineering services as a crucial and growing revenue source in Loop’s commercialization strategy, the company anticipates a future pipeline of further engineering agreements set for India, Europe and additional projects as the development of more Infinite Loop™ facilities progresses.
Concurrently, Loop is actively pursuing off-take agreements with major global brands in the textile and consumer packaged goods sectors for the India JV, a move that will further cement its position in the burgeoning market for sustainable materials. Founder and CEO of Loop, Daniel Solomita, commented on the development, emphasizing the project’s growing momentum. “This new agreement reinforces the progress on the India project. This further helps with the construction start for later this year and reinforces the model for our global manufacturing deployment of our technology.”
Further updates on the Infinite Loop India project, including timelines and partnerships, will be shared as they become available.
About Loop Industries
Loop Industries is a technology company dedicated to accelerating the world’s transition to sustainable PET plastic and polyester fiber, moving away from fossil fuels. Loop owns patented and proprietary technology that depolymerizes low-value waste PET plastic and polyester fiber, including plastic bottles, packaging, and textiles like carpets and clothing into base building block monomers DMT and MEG. These monomers are then separated, purified, and polymerized, creating virgin-quality Loop™ branded PET resin suitable for use in food-grade packaging and polyester fiber. This allows Loop’s customers to meet their sustainability goals. Loop™ PET plastic and polyester fiber can be recycled infinitely without compromising quality, effectively closing the plastic loop. Loop Industries is committed to contributing to a circular economy by reducing plastic waste and recovering waste plastic for a sustainable future.
Shares of the Company are listed on the NASDAQ Global Market under the symbol “LOOP.”
For more information, please visit www.loopindustries.com. Follow Loop on Twitter: @loopindustries, Instagram: loopindustries, Facebook: Loop Industries and LinkedIn: Loop Industries
Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and as defined in the United States Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “expects,” “plans,” “intends,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” or “continue,” or the negative of such terms and other comparable terminology. These forward-looking statements include, without limitation, statements about anticipated construction timelines for the Infinite Loop™ India facility, potential future engineering agreements, and the expected progress and benefits of the India joint venture. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. Actual results may differ materially from the projections discussed in these forward-looking statements. The economic environment within which we operate could materially affect our actual results. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Factors that could materially affect these forward-looking statements and/or projections include, among other things: (i) our ability to commercialize our technology and products, (ii) the status of our relationships with our partners, (iii) development and protection of our intellectual property and products, (iv) industry competition, (v) our need for and ability to obtain additional funding relative to our current and future financial commitments, (vi) our ability to continue as a going concern, (vii) engineering, contracting, and building our manufacturing facilities, (viii) our ability to scale, manufacture, and sell our products and to license our technology in order to generate revenues, (ix) our proposed business model and our ability to execute it, (x) our ability to obtain the necessary approvals or satisfy any closing conditions in respect of any of our proposed partnerships, (xi) our joint venture projects and our ability to recover certain expenditures in connection to them, (xii) adverse effects on the Company’s business and operations as a result of increased regulatory, media, or financial reporting scrutiny, practices, rumors, or otherwise, (xiii) public health issues, such as disease epidemics, which may lead to reduced access to capital markets, supply chain disruptions, and government-imposed business closures, (xiv) war, regional tensions, and economic or other conflicts including trade disputes and increasing protectionist measures that could impact market stability and our business; (xv) the effect of the continuing worldwide macroeconomic uncertainty and its impacts, including inflation, market volatility and fluctuations in foreign currency exchange and interest rates, (xvi) the outcome of any SEC investigations or class action litigation filed against us, (xvii) our ability to hire and/or retain qualified employees and consultants, (xviii) other events or circumstances over which we have little or no control, and (xix) other factors discussed in Loop’s Annual Report on Form 10-K for the fiscal year ended February 28, 2025 filed with the SEC and in Loop’s subsequent filings with the SEC. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at http://www.sec.gov. Loop assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise, unless otherwise required by law.
SOURCE: Loop Industries
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