Loop Industries FY2024 net loss $21.1M; announces India JV with Ester for $165M facility

Loop Industries, Inc.

FY2024 revenue $153K vs $173K; net loss $21.1M vs $21.3M; cash $6.96M down from $29.6M.
Signed 50/50 India JV with Ester to build Infinite Loop facility; total cost ~$165M, completion by end 2026.
India JV expected to generate 5% annual royalty on sales; targets specialty chemicals market worth $28B.
Reed financing negotiations progressing; binding agreements expected imminent, close by end of Q2 FY2025.
Launched Cloudeasy Cyclon shoe with On using Loop recycled polyester; SKGC monomer facility option being evaluated.

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