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.
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- Revenue Decline: Loop Industries reported Q4 revenue of $176 million for the period ending February 28, 2026, reflecting a decrease of $10,633 compared to the same period in 2025, indicating significant market challenges.
- Net Loss Expansion: The company experienced a net loss of $2,703, a stark contrast to the net income of $6,882 in 2025, highlighting a severe deterioration in profitability.
- Cost Control Improvement: Despite the revenue drop, research and development expenses decreased by $608 and general administrative expenses fell by $188, indicating proactive measures taken by the company to alleviate financial pressure.
- Slight Service Cost Reduction: Cost of services decreased from $218 in 2025 to $191, a reduction of $27, demonstrating minor improvements in operational efficiency, yet insufficient to offset the significant revenue decline.
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- Contract Signing: Loop Industries has secured a long-term supply contract with Nike, ensuring a fixed annual supply of polyester resin, which includes a guaranteed take-or-pay clause, expected to provide a stable revenue stream for the company.
- Project Progress: The construction of the Infinite Loop India facility is on schedule for completion by the end of 2027, with management expressing optimism about financing developments that will support future operations.
- Cost Control: Cash operating expenses for the third quarter were $2.2 million, reflecting a year-over-year decrease of $1.1 million, with management indicating further reductions in expenses expected over the coming quarters.
- Market Demand: As European regulations drive increased demand for textile recycling, Loop's low-temperature depolymerization technology is seen as crucial to meeting market needs, which is anticipated to drive growth in both textile and packaging markets.
- Earnings Report: Loop Industries reported a Q3 GAAP EPS of -$0.06, aligning with market expectations, indicating the company's efforts towards financial stability.
- Revenue Growth: The company achieved revenue of $0.08 million in Q3, marking a 60% year-over-year increase, reflecting strong demand and business expansion in the sustainable plastics market.
- Executive Appointment: Loop Industries appointed Spencer Hart as CFO, aiming to enhance financial management and drive the company's strategic development moving forward.
- Market Outlook: With the acceleration of sustainability trends, Loop Industries' growth potential is further validated, likely attracting increased investor interest in its long-term prospects.








