Loop Industries Announces $1.5 Million Engineering Services Agreement for Infinite Loop India Project

Associated Press

6 days ago

MONTRÉAL, QUEBEC / ACCESS Newswire / June 22, 2025 / Loop Industries, Inc. (Nasdaq:LOOP) (the 'Company,' 'Loop,' 'we,' 'us,' or 'our'), a clean technology company whose mission is to accelerate a circular economy for polyester by manufacturing 100% recycled polyethylene terephthalate ('PET') plastic and polyester fiber, today announced it has executed a $1.5 million engineering services agreement with Ester Loop Infinite Technologies Private Ltd. ('ELITe'), its India JV with Ester Industries Ltd. ('Ester').
This agreement reflects the continuing progression in the global deployment of Loop's PET depolymerization technology. This new engineering mandate will support ELITe through construction as it moves towards breaking ground on the Infinite Loop™ India facility, which is anticipated in the second half of calendar 2025.
The newly signed $1.5 million engineering services agreement builds on the initial engineering services agreement with ELITe which was fulfilled over Q4 of fiscal 2025 and Q1 of fiscal 2026. This underscores the role of engineering services in Loop's commercialization strategy as an important and growing source of revenue. We anticipate entering into additional engineering services agreements for India, Europe and other projects as we advance the development of future Infinite Loop™ facilities.
Loop continues to progress towards securing customer off-take agreements for the India JV with global brands in the textile and consumer packaged goods sectors.
Daniel Solomita, Founder and CEO of Loop, commented on the development of the India JV, saying: 'This new agreement reinforces the momentum for the India project. It helps set the foundation for construction start later this year and reinforces the model for the global manufacturing deployment of our technology.'
Further details regarding the Infinite Loop India project, including timelines and additional partnerships, will be announced as they become available.
About Loop Industries
Loop Industries is a technology company whose mission is to accelerate the world's shift toward sustainable PET plastic and polyester fiber and away from our dependence on fossil fuels. Loop Industries owns patented and proprietary technology that depolymerizes no and low-value waste PET plastic and polyester fiber, including plastic bottles packaging, and textiles such as carpets and clothing into its base building block monomers DMT and MEG. The monomers are separated, purified and polymerized to create virgin-quality Loop™ branded PET resin suitable for use in food-grade packaging and polyester fiber, thus enabling our customers to meet their sustainability objectives. Loop™ PET plastic and polyester fiber can be recycled infinitely without degradation of quality, helping to close the plastic loop. Loop Industries is committed to contributing to the global movement towards a circular economy by reducing plastic waste and recovering waste plastic for a sustainable future.
Common 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
For More Information:
Investor Relations:
Kevin C. O'Dowd, Investor Relations
Loop Industries, Inc.
[phone]
[email protected]
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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