Loop Industries Announces $1.5 Million Engineering Services Agreement for Infinite Loop India Project
This agreement reflects the continuing progression in the global deployment of Loop's PET depolymerization technology. This new engineering mandate will support ELITe through construction as it moves towards breaking ground on the Infinite Loop™ India facility, which is anticipated in the second half of calendar 2025.
The newly signed $1.5 million engineering services agreement builds on the initial engineering services agreement with ELITe which was fulfilled over Q4 of fiscal 2025 and Q1 of fiscal 2026. This underscores the role of engineering services in Loop's commercialization strategy as an important and growing source of revenue. We anticipate entering into additional engineering services agreements for India, Europe and other projects as we advance the development of future Infinite Loop™ facilities.
Loop continues to progress towards securing customer off-take agreements for the India JV with global brands in the textile and consumer packaged goods sectors.
Daniel Solomita, Founder and CEO of Loop, commented on the development of the India JV, saying: 'This new agreement reinforces the momentum for the India project. It helps set the foundation for construction start later this year and reinforces the model for the global manufacturing deployment of our technology.'
Further details regarding the Infinite Loop India project, including timelines and additional partnerships, will be announced as they become available.
About Loop Industries
Loop Industries is a technology company whose mission is to accelerate the world's shift toward sustainable PET plastic and polyester fiber and away from our dependence on fossil fuels. Loop Industries owns patented and proprietary technology that depolymerizes no and low-value waste PET plastic and polyester fiber, including plastic bottles packaging, and textiles such as carpets and clothing into its base building block monomers DMT and MEG. The monomers are separated, purified and polymerized to create virgin-quality Loop™ branded PET resin suitable for use in food-grade packaging and polyester fiber, thus enabling our customers to meet their sustainability objectives. Loop™ PET plastic and polyester fiber can be recycled infinitely without degradation of quality, helping to close the plastic loop. Loop Industries is committed to contributing to the global movement towards a circular economy by reducing plastic waste and recovering waste plastic for a sustainable future.
Common shares of the Company are listed on the NASDAQ Global Market under the symbol 'LOOP.'
For more information, please visit www.loopindustries.com. Follow Loop on Twitter: @loopindustries, Instagram: loopindustries, Facebook: Loop Industries and LinkedIn: Loop Industries
For More Information:
Investor Relations:
Kevin C. O'Dowd, Investor Relations
Loop Industries, Inc.
+1 617-755-4602
[email protected]
Forward-Looking Statements
This news release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended (the 'Securities Act'), Section 21E of the Securities Exchange Act of 1934, as amended (the 'Exchange Act') and as defined in the United States Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as 'may,' 'will,' 'should,' 'could,' 'expects,' 'plans,' 'intends,' 'anticipates,' 'believes,' 'estimates,' 'predicts,' 'potential,' or 'continue,' or the negative of such terms and other comparable terminology. These forward-looking statements include, without limitation, statements about anticipated construction timelines for the Infinite Loop™ India facility, potential future engineering agreements, and the expected progress and benefits of the India joint venture. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. Actual results may differ materially from the projections discussed in these forward-looking statements. The economic environment within which we operate could materially affect our actual results. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Factors that could materially affect these forward-looking statements and/or projections include, among other things: (i) our ability to commercialize our technology and products, (ii) the status of our relationships with our partners, (iii) development and protection of our intellectual property and products, (iv) industry competition, (v) our need for and ability to obtain additional funding relative to our current and future financial commitments, (vi) our ability to continue as a going concern, (vii) engineering, contracting, and building our manufacturing facilities, (viii) our ability to scale, manufacture, and sell our products and to license our technology in order to generate revenues, (ix) our proposed business model and our ability to execute it, (x) our ability to obtain the necessary approvals or satisfy any closing conditions in respect of any of our proposed partnerships, (xi) our joint venture projects and our ability to recover certain expenditures in connection to them, (xii) adverse effects on the Company's business and operations as a result of increased regulatory, media, or financial reporting scrutiny, practices, rumors, or otherwise, (xiii) public health issues, such as disease epidemics, which may lead to reduced access to capital markets, supply chain disruptions, and government-imposed business closures, (xiv) war, regional tensions, and economic or other conflicts including trade disputes and increasing protectionist measures that could impact market stability and our business; (xv) the effect of the continuing worldwide macroeconomic uncertainty and its impacts, including inflation, market volatility and fluctuations in foreign currency exchange and interest rates, (xvi) the outcome of any SEC investigations or class action litigation filed against us, (xvii) our ability to hire and/or retain qualified employees and consultants, (xviii) other events or circumstances over which we have little or no control, and (xix) other factors discussed in Loop's Annual Report on Form 10-K for the fiscal year ended February 28, 2025 filed with the SEC and in Loop's subsequent filings with the SEC. Investors and security holders are urged to read these documents free of charge on the SEC's web site at http://www.sec.gov. Loop assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise, unless otherwise required by law.
SOURCE: Loop Industries
press release
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
PwC India plans to create 20,000 additional jobs in next five years
PwC India has unveiled plans to increase its employee base to 50,000 over the next five years with the creation of 20,000 new jobs. The company announced its Vision 2030 approach with a target of tripling its revenue within five years. This plan includes a commitment to invest more than 5% of annual revenues in technology and innovation. The firm intends to concentrate on several key areas, such as digital transformation, sustainability, risk management, cloud computing, and cybersecurity, to assist clients in adapting to ongoing changes in the business landscape. PwC India perceives the forthcoming five years as a crucial time for the country to influence its future, aligning its goals with the broader national vision of 'Kal Ka Bharat.' The firm's strategy aims to support India's development while pursuing its own growth. The firm plans to allocate 1% of its revenues to employee training and development. It is also looking to expand its operations into Tier 2 and 3 cities, focusing on sector-specific and digital skills to promote local economic growth. Additionally, PwC India aims to enhance its social contributions through the PwC India Foundation, with a target to impact more than 500,000 lives by 2030. The firm's growth strategy is centred around six primary sectors: financial services, healthcare, industrial manufacturing, automotive, technology, and media and telecom. These sectors are seen as having significant potential for transformative change. PwC India will also explore emerging sectors to establish an early foothold. The firm acknowledges that future success will require significant changes in business models and operations. As such, it is transitioning from a traditional service provider to a more modern, delivery-oriented organisation, leveraging sector expertise and advanced technologies. Continued investment in regional delivery centres and centres of excellence is part of this strategy, aimed at improving service delivery for both domestic and international clients. With operations in all major Indian cities, nearly 900 partners, and a workforce of 30,000, PwC India is focused on maintaining a steady growth trajectory, having experienced consistent growth over the past four years. "PwC India plans to create 20,000 additional jobs in next five years" was originally created and published by International Accounting Bulletin, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Washington Post
an hour ago
- Washington Post
Divide and conquer? Trump is doing the opposite.
'BRICS is dead,' President Donald Trump proclaimed in February. He was referring to the loose grouping of Brazil, Russia, India, China and South Africa, which has now been expanded to include Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates along with various 'partner countries' from the Global South.
Forbes
an hour ago
- Forbes
The Future Of Work: A CEO's Playbook For GenAI Transformation
Vishal Talwar - Vice President and Sector Head Technology - New Age Vertical at Wipro. Generative AI is not merely creating new opportunities; it is fundamentally reconfiguring the very fabric of value creation. For leaders who navigate this shift with strategic foresight, it promises to fuel progress and drive profound satisfaction at work. For those who don't, it presents an existential threat. The key is to move beyond generic adoption and architect a deliberate, human-centric transformation. The most immediate transformation is not just about better personalization or proactive chatbots. It's about the shift from AI as a tool to AI as a teammate. We are moving from standardized services to hyper-personalized value delivery, from reactive interfaces to autonomous AI agents executing complex workflows, and from static job descriptions to dynamic, project-based roles where human expertise is augmented, not replaced. More broadly, the talent and skills that create value are being redefined around judgment, creativity and systems thinking. The strategic pivot at Shutterstock offers a prescient case study. By launching its own AI image generator, Shutterstock didn't just add a feature; it began a transformation from a marketplace model to an integrated creation platform. This move aims to capture the entire value chain, from initial prompt to finished asset. Reality Check While this democratizes creation for subscribers, it also represents a form of creative destruction for its traditional human contributors, whose work trained the very models that now compete with them. The long-term business model implications are profound: Will AI-generated content devalue the premium placed on unique human creativity, or will it elevate it? For Shutterstock and others, the decisive actions will be dictated by how they manage this delicate balance between human ingenuity and machine efficiency. This AI-driven change heightens human potential, but the term that encapsulates its true power is Superagency. It signifies the rise of advanced, decentralized systems where individuals or small, agile teams, equipped with powerful AI agents, can wield influence and drive outcomes previously achievable only by large corporations. This is the era of the "one-person unicorn," where human-agent teaming allows for hyper-personalized value delivery at scale. Superagency thrives on leveraging technology and networks to innovate outside the confines of rigid, hierarchical structures. Quantifying The Shift: Beyond Disruption The challenge for CEOs is the sheer velocity of this change. The disruption is not linear; it's exponential. While early research from institutions like Brookings highlighted task disruption percentages, the current reality is more nuanced. A study by Boston Consulting Group found that while Generative AI boosted performance on certain tasks by up to 40%, it also introduced a risk of "confident-sounding nonsense.' The challenge is no longer just task automation; it's managing the human-AI interface to ensure accuracy and quality. The industry demand is shifting from pure software engineering to roles that fuse domain expertise with AI integration capabilities—the "centaur" workforce, as coined by Garry Kasparov. What CEOs Must Do: An Actionable Framework To leverage AI effectively, CEOs must move from ad-hoc experimentation to a structured, enterprise-wide strategy. This map will help: Instead of a generic audit, map your organization's core workflows (e.g., contract analysis, software development, market research, supply chain forecasting) and classify tasks into three categories: ripe for full automation, suited for AI-augmentation and requiring exclusively human judgment. This provides a granular, strategic roadmap for integration. Go beyond simply offering courses on prompt engineering. Cultivate deep "AI literacy," which includes understanding model limitations, data bias and AI ethics. The goal isn't just upskilling; it's fostering a culture of perpetual adaptation and critical thinking in an environment where the AI is a constant collaborator. "Retiring redundant roles" is a clinical phrase for a complex human process. Frame it as role evolution. For every role that is diminished, a new one emerges. Proactively design and define new roles like AI Trainers, Human-in-the-Loop (HITL) Managers, Prompt Librarians and AI Ethicists. These are the orchestrators who will fine-tune, manage and govern AI systems to align with business objectives. Your investment focus must extend beyond the models themselves. It requires building a robust technical stack, including vector databases for proprietary knowledge, fine-tuning platforms and rigorous data governance frameworks. Critically, establish clear AI Usage Policies (AUPs) and an ethics review board to manage reputational, legal and operational risks. This isn't just IT; it's enterprise risk management. To embed Generative AI, move beyond top-down mandates. Create sandboxed environments where teams can experiment safely. Launch internal challenges and "AI Champions" programs to identify and empower evangelists. This collaborative approach builds trust and transforms the workforce from passive users into active partners in the AI integration process. Reimagine recruitment not just by using AI to screen résumés, but by using it for deep capability mapping to identify candidates with adjacent skills poised for AI-centric roles. Transform talent development by moving from one-size-fits-all training to AI-driven personalized learning paths. Use predictive analytics to identify retention risks and understand what drives engagement in an AI-augmented workplace. Partnering with a technology integrator is no longer about outsourcing routine tasks; it's about in-sourcing intelligence. The next strategic decision is whether to leverage a partner's AI Center of Excellence (CoE) or build your own. This has a profound impact on the future of work, as your workforce must shift from focusing on task execution to guiding, interpreting and strategically leveraging AI-driven outputs. The core strategic question becomes: Do we build a proprietary foundation model on our unique data, or do we fine-tune best-in-class commercial models? The ultimate goal is to build an organization that is not just data-driven, but judgment-driven and AI-augmented. Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?
