Loop Industries Secures $1.5M Deal to Advance India Project
According to a press release from Loop Industries, the company has signed a new $1.5 million engineering services agreement with Ester Loop Infinite Technologies Private Ltd. (ELITe), its joint venture in India with Ester Industries Ltd. This agreement marks a key step forward in Loop’s global strategy to commercialize its proprietary PET plastic depolymerization technology.
As reported by the company, the newly signed contract builds on a previous phase of engineering work that was completed between the fourth quarter of fiscal 2025 and the first quarter of fiscal 2026. The fresh mandate will support ELITe as it prepares to commence construction of the Infinite Loop™ India facility, expected to break ground in the second half of 2025.
The Infinite Loop™ India project is part of Loop’s broader global expansion plan to roll out its clean technology, which transforms low-value or waste PET plastic into virgin-quality material suitable for food-grade packaging and textiles. According to Loop, engineering services now form an increasingly important component of its commercialization model and represent a growing source of revenue.
Further agreements for similar engineering services are anticipated in India, Europe, and other markets as Loop continues to advance the development of future Infinite Loop™ facilities.
Daniel Solomita, Founder and CEO of Loop Industries, commented, “This new agreement reinforces the momentum for the India project. It helps set the foundation for construction start later this year and reinforces the model for the global manufacturing deployment of our technology.”
Loop also noted that it is in ongoing discussions to secure off-take agreements with global consumer brands in the textile and packaged goods sectors for the output of the India JV.
Additional details about the Infinite Loop™ India facility, including its construction timeline and new partners, are expected to be released as the project progresses.
Source: Loop Industries
