sur Loop Industries, Inc. (NASDAQ:LOOP)
Loop Industries Reports Financial Progress and Strategic Developments
Loop Industries announced its fiscal 2026 first-quarter results, reporting key advancements in India and Europe. The company is finalizing the site selection for its Indian manufacturing facility, with the goal to start construction by the end of 2025. A significant engineering services agreement was signed with ELITe, a joint venture with Ester Industries Ltd.
In Europe, Loop is partnering with Reed Societe Generale Group to determine a site for its first Infinite Loop™ facility and plans to employ a modular construction strategy to reduce costs and enhance returns.
Financially, Operating expenses decreased significantly, with a net loss reduction to $3.4 million from $5.2 million in the previous year. Revenues increased to $252,000 from $6,000, derived mainly from engineering fees.
R. E.
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