Loop Industries forms 50/50 India JV with Ester to build $165M rDMT/rMEG facility

Loop Industries, Inc.

50/50 JV with Ester Industries to build Infinite Loop facility in India; total capital ~$165 million.
Facility to produce 70,000 tpy rDMT and 23,000 tpy rMEG; construction completion by end 2026, operations early 2027.
JV targets $28B global DMT/MEG market; rDMT/rMEG lower carbon footprint by up to 70% vs virgin fossil-based.
Ester to toll-convert monomers into specialty polymers; Loop exclusive sales/marketing agent.
Agreement subject to conditions; termination option if not closed by Dec 31, 2024.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Loop Industries, Inc. entered into Agreement with Ester Industries Ltd. valued at USD $165 million (effective 2024-05-01).

Action: entry
Agreement: collaboration
Counterparty: Ester Industries Ltd.
Value: USD $165 million
Effective: 2024-05-01

Exact text from the filing

On May 1, 2024, Loop Industries, Inc. (the “Company” or “Loop”) entered into an agreement (the “Agreement”) by and between the Company and Ester Industries Ltd. (“Ester”).

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Loop Industries, Inc. filing history →

Source: SEC EDGAR

accession 0001654954-24-005656

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