sur Loop Industries, Inc. (NASDAQ:LOOP)
Loop Industries Secures $1.5 Million Agreement for Indian Venture
Loop Industries, a clean technology firm, has entered a $1.5 million engineering services agreement with Ester Loop Infinite Technologies Private Ltd. This partnership is a part of their ongoing project in India focused on deploying Loop's PET depolymerization technology. The deal indicates steady progress towards establishing the Infinite Loop™ India facility, expected to break ground in late 2025.
The agreement extends a previous collaboration concluded in fiscal 2026, affirming the significant role of engineering in Loop's growth strategy. This development is in line with future initiatives planned across India, Europe, and beyond. Loop is also working to finalize customer agreements with global textile and packaged goods brands for this joint venture.
CEO Daniel Solomita remarked the agreement as a pivotal step for Loop's global manufacturing model, laying groundwork for the upcoming construction phase. Additional information on the Infinite Loop India project is forthcoming.
R. P.
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