Press release
Loop Industries (NASDAQ: LOOP) Secures Strategic Gujarat, India Site, Igniting Infinite Loop Trademark Global Growth - More Stocks Inside
In addition to Loop Industries, Inc. (Nasdaq: LOOP) keep an eye on: Trinity Biotech (NASDAQ: TRIB), Aeries Technology Inc. (NASDAQ: AERT), Power Metallic Inc. (OTCQB: PNPNF | TSX.V: PNPN),Inspire Veterinary Inc. (NASDAQ: IVP) and Synergy CHC Corp. (NASDAQ: SNYR) just reported their 10th consecutive profitable quarter up 125% YoY, with FOCUSfactor Registered driving the global expansion, as they are moving aggressively in early trading today.
The Gujarat plant will operate on 80% clean, renewable electricity and renewable biofuels, cutting the carbon footprint of its PET resin by up to 80% compared to petroleum-based production. Loop expects permitting to be completed by year-end 2025, positioning the site as a showcase for sustainable, large-scale polyester recycling in one of the world's largest textile markets.
The land acquisition, priced at $10.5 million, comes in $5 million below the project's original cost estimate of $176 million, as outlined in the FEED study by Tata Consulting Engineers. An initial $1.7 million deposit has secured the property, which has ample capacity for both the planned 70,000 metric ton per year facility and a future 100,000 metric ton expansion. With strategic location advantages, reduced capital costs, and scalable green production capacity, Loop Industries' India venture is poised to set a new benchmark for circular economy manufacturing in Asia.
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