Loop Industries expands recycling technology to Europe and India

Loop Industries, a technology company dedicated to advancing a sustainable plastics economy, has raised €10 million through a convertible preferred security agreement with Reed Societe Generale Group, an investment entity under Societe Generale bank.

In addition to the financing, Loop has sold its first Infinite Loop technology license to Reed Societe Generale Group for an upfront payment of €10 million. Additional milestone-based payments are also included in the deal.

This collaboration is part of Loop’s strategy to commercialise its recycling technology in Europe and fund investments in regions with lower production costs, such as India, where it is building an Infinite Loop facility in partnership with Ester Industries. The Indian venture will focus on producing recycled rDMT and rMEG materials.

The European partnership established under this licensing agreement will be 90% owned by Reed Societe Generale Group and 10% by Loop. While Loop retains the option to increase its stake up to 50%, the current license is for a single facility, with additional licenses required for future expansions.

Loop’s recycling technology, operational at its Terrebonne plant for four years, produces PET resin for packaging and polyester fiber for clothing. By licensing its technology, Loop aims to meet global demand in regions where it does not plan to establish its own facilities, driving growth without overstretching resources.