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Loop Industries ( (LOOP) ) has shared an announcement.
Loop Industries announced the closure of a $20.8 million financing and technology licensing deal with Reed Societe Generale Group, which marks a significant step in its commercialization strategy. This deal will support the deployment of Loop’s recycling technology in Europe and fund the Infinite Loop™ manufacturing facility in India. The licensing agreement demonstrates the commercial readiness of Loop’s technology and positions the company for growth by expanding into regions where it does not plan to build facilities.
More about Loop Industries
Loop Industries is a clean technology company focused on accelerating a circular plastics economy. It specializes in manufacturing 100% recycled polyethylene terephthalate (PET) plastic and textile-to-textile polyester fiber. The company aims to address global plastic waste issues by deploying its patented recycling technology.
YTD Price Performance: 0.85%
Average Trading Volume: 1,538,038
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $56.67M
Learn more about LOOP stock on TipRanks’ Stock Analysis page.
