PRESS RELEASE
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PRESS RELEASE
Loop Industries Reports Third Quarter Fiscal 2024 Results and Provides Updates on Business Developments
Loop Industries, Inc. (Nasdaq:LOOP) announced a non-binding Memorandum of Understanding with Reed Management for US$66 million in non-dilutive financing as part of a joint venture to roll out Loop's technology in the European market. The JV aims to commercialize Loop's technology in Europe and will provide funding for the development of projects, including the construction of an Infinite LoopTM plant in Saint-Avold, France. The partnership allows Loop Industries to reduce the funding needs for its equity contributions and receive royalty and engineering fees directly from the planned facilities in Europe. The non-binding MOU is subject to customary due diligence and is expected to close by the end of March 2024. Loop's CEO, Daniel Solomita, expressed excitement about the partnership and the potential for Loop's groundbreaking technology as global brands adapt to increasingly stringent regulatory requirements for plastic recycling. -
PRESS RELEASE
Loop Industries annonce la signature d'un protocole d'accord pour un financement non dilutif de 66 millions de dollars Américains avec Reed Management, dans le cadre d’une coentreprise pour le déploiement d’infinite loop(mc) en Europe
Loop Industries, Inc. annonce un investissement initial de 33 millions de dollars de Reed MANAGEMENT pour soutenir la commercialisation de sa TECHNOLOGIE de polyéthylène téréphtalate (« PET ») recyclé. Loop et Reed prévoient de former une coentreprise stratégique pour le déploiement commercial de la technologie Infinite Loopmc en Europe -
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