Loop Industries Advances Commercialization with Key Agreements
Loop Industries, Inc. is advancing its commercialization efforts in producing 100% recycled PET plastic and textile-to-textile polyester. Recent achievements include securing offtake agreements in India, strategic alliances in Europe, and acquiring a site in Gujarat. The company reported a reduced net loss of $3.2 million for Q2 fiscal 2026, with a total revenue of $252,000 for the first half of the year. Management remains optimistic about future revenue from projects in India and Europe.
Loop Industries, Inc., a clean technology company, focuses on producing 100% recycled polyethylene terephthalate (PET) plastic and textile-to-textile polyester, aiming to foster a circular economy. The company recently reported its second-quarter fiscal 2026 results, highlighting significant progress toward commercialization, particularly in India and Europe. Key achievements include securing offtake agreements for its Infinite Loop India facility with a leading sports apparel brand and Taro Plast, strategic alliances with Shinkong and Hyosung TNC, and the acquisition of a 93-acre site in Gujarat, India. Additionally, Loop is advancing its project debt financing efforts and progressing on its European project with Reed Societe Generale Group. Financially, Loop reported a decrease in net loss to $3.2 million for the quarter, driven by reduced research and development and general administrative expenses. Despite no revenue for the quarter, the company reported $252,000 in revenue for the six-month period, primarily from engineering fees. Looking ahead, Loop Industries is poised to continue its commercialization efforts, with management expressing optimism about future revenue streams from its projects in India and Europe.
