LOOP Overview

Nike and Loop Industries Partnership: Nike has entered a multi-year agreement with Loop Industries to utilize Loop's circular polyester resin, Twist, which is made from textile waste, aiming to reduce reliance on virgin and recycled polyester in its products.

Sustainability and Production Efficiency: Twist resin is designed for high purity and consistent dyeing properties, enhancing production efficiency and ensuring compatibility with existing manufacturing systems, while also providing full traceability of recycled content.

Infinite Loop India Facility: Nike is established as the anchor customer for Loop's Infinite Loop India facility, which is expected to significantly lower greenhouse gas emissions compared to traditional polyester production, potentially reducing CO₂ emissions by up to 418,600 tonnes annually.

Validation of Circular Fashion Strategy: Loop Industries' CEO highlighted the partnership with Nike as a major milestone, validating their strategy to provide verifiable textile-to-textile polyester resin and promoting circular fashion in the apparel industry.

Market Performance: Rubber and plastics shares are lagging the market, down approximately 1.8% on Monday.

Key Contributors: Loop Industries saw a significant drop of about 15.7%, while Lightwave Logic decreased by around 5.6%.

Sector Laggards: The hospital and medical practitioners sector is also mentioned as a laggard alongside rubber and plastics.

Disclaimer: The views expressed in the article are those of the author and do not necessarily reflect the opinions of Nasdaq, Inc.

Partnership Announcement: Loop Industries has signed a multi-year offtake agreement with Nike, making Nike the anchor customer for Loop's new manufacturing facility in India.

Product Supply: Loop will supply its virgin-quality circular polyester resin, Twist, which is produced exclusively from textile waste, to Nike under this agreement.

Strategic Alliance Announcement: Loop Industries has formed a strategic alliance with Hyosung TNC to enhance access to circular polyester through textile-to-textile supply chains.

Focus on Circularity: The partnership aims to facilitate the transition from traditional polyester to circular materials, leveraging Loop's depolymerization technology and Hyosung's expertise in advanced textiles, thereby expanding market coverage for apparel brands.