Loop Industries announced the execution of a $1.5 million engineering services agreement with Ester Loop Infinite Technologies Private Ltd. ("ELITe"), its India Joint Venture with Ester Industries Ltd. This agreement is specifically for the Infinite Loop India project.
The engineering services will support the next stage of engineering, including detailed engineering and construction for the facility in Gujarat. This agreement represents a direct revenue stream for Loop Industries, tied to the development of its global manufacturing footprint.
This milestone underscores the continued progress of the India JV, which is a cornerstone of Loop's direct investment strategy in low-cost manufacturing regions. The facility is designed to produce 70,000 tons per year of Loop branded PET resin and polyester fiber.
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