Loop Announces Facility Downsizing and Financing Efforts for India Plant
On October 16, 2026, Loop Industries (NASDAQ: LOOP) announced plans to reduce the size of its planned plastic recycling facility in India from 70,000 kilotons per year to 45,000 kilotons. This downsizing is intended to lower capital requirements and preserve long-term production potential through a second phase of development. The company has formed a special board committee to evaluate financing options for the joint venture in India, including equity, debt, and non-dilutive alternatives. Management emphasized that securing funding remains critical before construction can begin. Additionally, Loop reported significant reductions in cash operating expenses due to overhead cuts, bringing quarterly costs down by $800,000 year over year. Looking ahead, the company aims to start construction of its first facility in early 2027 if capital is secured and expects completion by late 2028. Loop remains focused on leveraging low-temperature technology and local advantages such as textile waste availability and labor costs to maintain strong operating economics.
Tickers: $LOOP
Topics: capital restructuring equity financing plastic recycling facility