- Loop Industries (LOOP, Financial) signs a $1.5 million engineering services agreement with ELITe for Infinite Loop India project.
- The groundbreaking for the Infinite Loop India facility is anticipated in the second half of 2025.
- Loop Industries is actively pursuing customer off-take agreements with global brands in the textile and consumer packaged goods sectors.
Loop Industries, Inc. (LOOP), a leader in clean technology focused on accelerating a circular economy for polyester, has announced a significant $1.5 million engineering services agreement with its India joint venture, Ester Loop Infinite Technologies Private Ltd. (ELITe). This collaboration aims to support the construction phase of the Infinite Loop India facility, with groundbreaking on track for the second half of 2025.
The recent agreement builds upon a prior engineering services contract completed in the fourth quarter of fiscal year 2025 and the first quarter of fiscal year 2026, emphasizing the pivotal role of engineering services as a growing revenue stream in Loop's commercialization strategy. The company anticipates that further engineering agreements will unfold in India, Europe, and other global markets as it continues developing future Infinite Loop facilities.
To maximize the project's potential, Loop Industries is negotiating customer off-take agreements with prominent global brands in the textile and consumer packaged goods industries. These agreements are expected to provide crucial revenue visibility and affirm the market demand for Loop's 100% recycled PET plastic and polyester fiber technology.
Daniel Solomita, Founder and CEO of Loop, remarked on the momentum this new agreement brings to the India project, indicating a solid foundation for future construction and reinforcing the global deployment model of their innovative technology.
Loop Industries remains committed to its mission of reducing plastic waste and fostering a sustainable future through its patented technology that allows for the infinite recycling of PET plastics without quality degradation.
