Loop Industries and Reed Management strengthen their partnership with financing of 35 million euros

Loop Industries, Inc. and Reed Management SAS have signed a €35 million financing agreement to support the global commercialization of Infinite Loop(TM) technology. This investment should also enable the creation of a joint venture in Europe.

Reed will invest €10 million in a convertible preferred security issued by Loop and provide a loan of €25 million, in two tranches, to support Loop's global and European deployment opportunities. The partnership aligns with Loop's strategy of licensing its technology in high-cost countries and investing in low-cost regions like India.

Completion of the transaction is subject to conditions including fundraising by Reed and financial commitment from a government agency. Both parties estimate that these conditions will be met by the end of the second quarter of the current financial year.