LOOP
Loop Industries reported its Q2 fiscal 2025 results and provided updates on financing and commercialization plans. Key highlights include:
1. Reed financing expected to be finalized in November 2024, providing an initial tranche of €10 million in a Convertible Preferred Security.
2. Progress on Infinite Loop™ India manufacturing facility, with Gujarat province selected as the location.
3. Q2 expenses totaled $4.9 million, with a projected run rate of $1.0 million per month for the balance of fiscal 2025.
4. Revenue decreased to $23,000 from $54,000 in the same period last year.
5. Net loss increased slightly to $4.839 million from $4.750 million year-over-year.
The company aims to accelerate a circular plastics economy by manufacturing 100% recycled PET plastic and polyester fiber.
1. Reed financing expected to be finalized in November 2024, providing an initial tranche of €10 million in a Convertible Preferred Security.
2. Progress on Infinite Loop™ India manufacturing facility, with Gujarat province selected as the location.
3. Q2 expenses totaled $4.9 million, with a projected run rate of $1.0 million per month for the balance of fiscal 2025.
4. Revenue decreased to $23,000 from $54,000 in the same period last year.
5. Net loss increased slightly to $4.839 million from $4.750 million year-over-year.
The company aims to accelerate a circular plastics economy by manufacturing 100% recycled PET plastic and polyester fiber.
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