Loop Industries Secures Financing and First European Technology License

Loop Industries, a clean technology company based in Montreal, has received a €10 million investment from Reed Societe Generale Group through a convertible preferred security with a conversion price of $4.75 per share. The financing supports the construction of an Infinite Loop™ facility in India and fulfills operational cash needs. Concurrently, Loop finalized its first sale of an Infinite Loop™ technology license for €10 million.

This strategic move positions Loop for technological expansion in Europe, forming a partnership with Reed Societe Generale Group. The European facility will see 90% ownership by Reed Societe Generale Group, while Loop can increase its stake to 50% in future projects. The regulatory approval for Societe Generale's stake in Reed Societe Generale Group has cleared financial pathways for these ventures.

The transactions reflect Loop's commitment to a circular plastics economy, leveraging established operations at its Terrebonne facility. With this milestone, Loop aims at sustainably scaling its market presence while collaborating with the European partnership led by Julien Touati.