Loop Industries anunță un memorandum de înțelegere pentru finanțare nedilutivă de 66 de milioane USD din partea Reed Management, ca parte a unei asocieri în comun pentru lansarea tehnologiei European Infinite Loop(TM)

Loop Industries anunță un memorandum de înțelegere pentru finanțare nedilutivă de 66 de milioane USD din partea Reed Management, ca parte a unei asocieri în comun pentru lansarea tehnologiei European Infinite Loop(TM)

Marca temporală: 18 ianuarie 2024 7:00
Nodul sursă: 3069838

MONTREAL, QUEBEC, 19 ianuarie 2024 – (ACN Newswire) – Loop Industries, Inc. (Nasdaq:LOOP) (the “Company” or “Loop”), a clean technology company whose mission is to accelerate a circular plastics economy by manufacturing 100% recycled polyethylene terephthalate (“PET”) plastic and polyester fiber, announced today that the Company signed a non-binding Memorandum of Understanding (“MOU”) with Reed, a European investment firm focused on high impact and technology-enabled infrastructure.

Loop and Reed intend to form a strategic long-term partnership through the establishment of a 50/50 joint venture (the “JV”) to commercialize Loop’s technology in Europe. Reed intends to provide financing of €60 million (US$66 million) in non-dilutive capital. Of this amount, US$33 million is to be provided to Loop as non-dilutive capital to fund Loop’s technology commercialization globally. The remaining US$33 million is to be invested in the JV.

The non-binding MOU is subject to customary due diligence and the fulfillment of certain pre-closing conditions. The transaction is expected to close by the end of March 2024.

Under the terms of the MOU, Reed will provide capital as follows:

  • US$11 million equity investment in the JV to acquire from Loop exclusive rights to co-invest alongside Loop in commercialization projects using Loop’s technology in Europe through the planned joint venture between Loop and Reed;
  • US$22 million loan from the JV to Loop in two equal tranches – first tranche paid at closing and second tranche paid in the following 12 months with both tranches having a 10% PIK rate and 3-year term;
  • US$33 million commitment to cover initial costs to develop projects in Europe, including Loop’s equity contribution to the previously announced JV to construct an Infinite LoopTM plant in Saint-Avold, France;
  • Any subsequent capital injections in the JV will be funded on a 50/50 basis between Reed and Loop.

The planned 50/50 JV will be formed to invest in projects across Europe to commercialize Loop’s technology. This partnership reflects the strong commitment on the part of both Reed and Loop to capitalize on the potential of the rapidly developing European market, with high demand being driven by the introduction of more stringent European plastic recycling regulations and commitments by global brands to achieve their sustainability targets.

The planned partnership with Reed leverages the in-depth industry experience of Reed’s leadership in the development and financing of infrastructure projects throughout Europe as well as their established financing relationships with major institutions. Reed’s experienced investment team is augmented by world-class industry leaders and operating partners with significant expertise in the infrastructure, climate change and investment industries, with a strong network of alliances of large cap companies in the energy, water and waste sectors.

This intended partnership allows for Loop Industries to reduce the funding needs for its equity contributions to support the rollout of an increased number of facilities to be constructed in the European market using the Infinite LoopTM technology. Loop Industries will receive royalty and engineering fees directly from the planned facilities in Europe.

Daniel Solomita, Founder and CEO of Loop Industries, commented “We are delighted to form a partnership with Reed, which has been a long-standing supporter of Loop’s groundbreaking technology. We believe that this partnership, which combines Reed’s extensive financing relationships and experience in the development of major capital projects with Loop’s innovative technology, will be invaluable in the next stage of Loop’s strategic development, and maximize our opportunity to penetrate the European market as brands adapt to increasingly stringent regulatory requirements for plastic recycling.”

“This model will also allow Loop to maximize shareholder value as Reed will co-invest in the equity for each Infinite LoopTM project in Europe, while Loop receives annual royalty fees and one-time engineering fees from each facility. In addition, the structure of the current planned financing will be accretive to shareholder value by minimizing initial equity dilution,” added Mr. Solomita.

About Reed Management SAS

Founded in 2023, Reed Management is a European investment firm focused on high impact and technology-enabled infrastructure. Led by Julien Touati, Reed Management is leveraging the multi-decade experience of its team and partners to support the scale-up of capital and technology intensive solutions enabling to shift essential infrastructure and deliver long-term, stable returns with a strong impact.

Despre Loop Industries

Loop Industries is a technology company whose mission is to accelerate the world’s shift toward sustainable PET plastic and polyester fiber and away from our dependence on fossil fuels. Loop Industries owns patented and proprietary technology that depolymerizes no and low-value waste PET plastic and polyester fiber, including plastic bottles and packaging, carpets and textiles of any color, transparency or condition and even ocean plastics that have been degraded by the sun and salt, to its base building blocks (monomers). The monomers are filtered, purified and polymerized to create virgin-quality LoopTM branded PET resin suitable for use in food-grade packaging and polyester fiber, thus enabling our customers to meet their sustainability objectives. LoopTM PET plastic and polyester fiber can be recycled infinitely without degradation of quality, successfully closing the plastic loop. Loop Industries is contributing to the global movement towards a circular economy by reducing plastic waste and recovering waste plastic for a sustainable future.

Acțiunile ordinare ale Companiei sunt listate pe piața globală NASDAQ sub simbolul „LOOP”.

Pentru mai multe informații, vă rugăm să vizitați www.loopindustries.com. Urmărește Loop pe Twitter: @loopindustries, Instagram: loopindustries, Facebook: Loop Industries și LinkedIn: Loop Industries

Alte Declaratii anticipative

Acest comunicat de presă conține „declarații prospective”, așa cum sunt definite în SUA Legea din 1995 privind reforma litigiilor cu valori mobiliare private. Asemenea afirmații pot fi precedate de cuvintele „intenționează”, „poate”, „va”, „planifică”, „se așteaptă”, „anticipează”, „ar trebui”, „ar putea”, „proiectează”, „prevăd”, „estimează”. ”, „țintește”, „crede”, „spera”, „potențial” sau „continuă” negativul unor astfel de termeni sau cuvinte similare. Aceste declarații prospective includ, fără limitare, declarații despre oportunitatea de piață a Loop, strategiile sale, capacitatea de a-și îmbunătăți și extinde capacitățile, concurența, activitățile și cheltuielile așteptate pe măsură ce Loop își urmărește planul de afaceri, caracterul adecvat al resurselor sale de numerar disponibile, conformitatea cu reglementările. , planuri de creștere viitoare și operațiuni viitoare, dimensiunea pieței adresabile a Loop, tendințele pieței și eficacitatea controlului intern al Loop asupra raportării financiare. Declarațiile prospective nu sunt garanții ale performanței viitoare, se bazează pe anumite ipoteze și sunt supuse diferitelor riscuri și incertitudini cunoscute și necunoscute, dintre care multe sunt în afara controlului Loop și nu pot fi prezise sau cuantificate și, în consecință, rezultatele reale pot diferi semnificativ. din cele exprimate sau implicite prin astfel de declarații prospective. Such risks and uncertainties include, without limitation, risks and uncertainties associated with among other things: (i) commercialization of our technology and products, (ii) our status of relationship with partners, (iii) development and protection of our intellectual property and products, (iv) industry competition, (v) our need for and ability to obtain additional funding relative to our current and future financial commitments, (vi) engineering, contracting, and building our manufacturing facilities, (vii) our ability to scale, manufacture, and sell our products in order to generate revenues, (viii) our proposed business model and our ability to execute thereon, (ix) the ability to obtain the necessary approvals or satisfy any closing conditions in respect of any of our proposed partnerships, (x) our joint venture projects and our ability to recover certain expenditures in connection therewith, (xi) adverse effects on the Company’s business and operations as a result of increased regulatory, media, or financial reporting scrutiny, practices, rumors, or otherwise, (xii) disease epidemics and other health-related concerns and crises, which could result in reduced access to capital markets, supply chain disruptions and scrutiny, embargoing of goods produced in affected areas, government-imposed mandatory business closures and any resulting furloughs of our employees, government employment subsidy programs, travel restrictions or the like to prevent the spread of disease, or market or other changes that could result in non-cash impairments of our intangible assets, and property, plant and equipment, (xiii) the effect of the continuing worldwide macroeconomic uncertainty and its impacts, including inflation, market volatility and fluctuations in foreign currency exchange and interest rates, (xiv) the outcome of any SEC investigations or class action litigation filed against us, (xv) our ability to hire and/or retain qualified employees and consultants, (xvi) other events or circumstances over which we have little or no control, and (xvii) other factors discussed in Loop’s subsequent filings with the Securities and Exchange Commission (“SEC”). Informații mai detaliate despre Loop și factorii de risc care pot afecta realizarea declarațiilor prospective sunt prezentate în dosarele Loop la SEC.  http://www.sec.gov. Loop nu își asumă nicio obligație de a actualiza sau revizui în mod public declarațiile sale prospective ca urmare a unor noi informații, evenimente viitoare sau altfel.

Pentru mai multe informatii:

Relații cu investitorii:
Kevin C. O’Dowd, Investor Relations
Loop Industries, Inc.
+ 1 617-755-4602
kodowd@loopindustries.com

Investigatii mass-media:
Andrea Kostiuk, VP Marketing & Communications
Loop Industries, Inc.
+1 (450) 951-8555
akostiuk@loopindustries.com

SURSA: Loop Industries, Inc.


Subiect: Rezumatul comunicatului de presă


Sursa: Loop Industries, Inc
Sectoare: Apă, Mediu, ESG, Energie alternativa

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