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.