LOOP News & Events

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 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 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.