Loop Industries(US:LOOP)2026-01-14 21:31Technology and Innovation - Loop Industries has successfully operated its Terrebonne Facility for five years, demonstrating effective monomer recovery and supplying virgin-quality PET resin and polyester fiber to customers[92]. - The Infinite Loop™ Technology allows for the recycling of a wide range of contaminated PET and polyester fiber waste into virgin-quality materials, operating at low temperatures without added pressure[104]. - Loop's depolymerization technology can recycle materials infinitely without degrading quality, addressing the limitations of mechanical recycling[105]. - Loop's technology is designed to handle more contaminated feedstock compared to existing depolymerization methods, enhancing scalability[103]. - The Infinite Loop™ Technology is positioned to respond to the global transition towards a circular economy, focusing on recycling waste polyester that would otherwise be discarded[134]. Business Development and Partnerships - The company is advancing towards constructing an Infinite Loop™ manufacturing facility in India with a planned production capacity of 70,000 tons per year of Loop branded PET resin and polyester fiber[93]. - Loop has sold its first technology license to Reed Management SAS for an initial down payment of €10 million, with additional milestone payments as the project progresses[93]. - The company has entered into an Amended Agreement with Reed Management SAS to develop Infinite Loop™ manufacturing facilities in Europe[108]. - Loop has signed a multi-year offtake agreement with Nike, Inc. to supply agreed minimum volumes of Twist™, a virgin-quality circular polyester resin made exclusively from textile waste[146]. - The Company announced a strategic alliance with Hyosung TNC to expand access to circular polyester through textile-to-textile supply chains[149]. Financial Performance - The Company reported total revenues of $86, an increase of $34 compared to $52 for the same period in 2024, primarily from engineering services provided to the India joint venture[158]. - For the nine-month period ended November 30, 2025, total revenues increased by $257 to $338, compared to $81 for the same period in 2024[165]. - The net loss for the three-month period ended November 30, 2025, decreased by $8,968 to $2,944, compared to $11,912 for the same period in 2024[162]. - The net loss for the nine-month period ended November 30, 2025, decreased by $12,345 to $9,595, compared to $21,940 for the same period in 2024[171]. Expenses and Cash Flow - Research and development expenses decreased by $410 to $967 for the three-month period ended November 30, 2025, compared to $1,377 for the same period in 2024[159]. - General and administrative expenses decreased by $648 to $1,500 for the three-month period ended November 30, 2025, compared to $2,148 for the same period in 2024[160]. - Research and development expenses for the nine-month period ended November 30, 2025, decreased by $2,377 to $3,182, compared to $5,559 for the same period in 2024[167]. - General and administrative expenses for the nine-month period ended November 30, 2025, decreased by $2,636 to $5,018, compared to $7,654 for the same period in 2024[168]. - The Company reported a net cash used in operating activities of $7,372 for the nine months ended November 30, 2025, an improvement from $8,635 in the same period of 2024[190]. Investments and Financing - Loop issued 1,044,430 shares of Series B Convertible Preferred Stock at $10.00 per share to Reed Circular Economy as part of the financing and licensing transactions[109]. - The Company issued 1,044,430 shares of Series B CPS at $10.00 per share, resulting in cash proceeds of $10,395 on December 23, 2024[178]. - The Financing Facility with Investissement Québec has a maximum obligation of $3,291, with total disbursements of $3,290 received by the Company[179]. - The interest rate on the Financing Facility was increased from 2.36% to 4.36% through multiple amendments, with the latest amendment on February 5, 2025[182]. - The Company has approximately $14.1 million of capacity remaining under the At-the-Market Equity Offering as of November 30, 2025[153].