7 days ago
Loop Industries reports Q4 net income $6.9M vs. ($5.1M) last year
Reports Q4 revenue $10.8M vs. $45K last year. Daniel Solomita, Founder and CEO of Loop, commented on the continuing progress in Loop's strategy implementation, saying: 'The positive FEED study by TATA Consulting Engineers, confirming our initial capital expenditure projections, further solidifies our confidence in the Infinite Loop(TM) India project. In addition, integrating a continuous polymerization line enables us to deliver competitive pricing to our customers while ensuring robust profitability for ELITe, and generate cash flow for continuing growth and capacity expansion. Generating over $10 million this quarter, primarily through the sale of our first technology license, marks a significant financial milestone for Loop. We continue to make advancements in our European partnership with Reed Societe Generale Group, which are enabling us to execute on our technology modularization strategy. This strategy is key to significantly reducing both capex and timelines for the construction of future Infinite Loop Plants.'
Confident Investing Starts Here:
