This represents a critical milestone in the development of the Infinite Loop™ manufacturing facility in India. The total cost of the land is $10.5m which represents a $5M reduction in the $176M capital cost estimate in the FEED package completed by Tata Consulting Engineers. The land is being secured with an initial deposit of $1.7 million.

Following extensive due diligence, the JV has selected a site in one of India's most industrialized regions for the Infinite Loop™ manufacturing facility. This strategic location near Surat, known as India's synthetic textile capital, gives the JV a direct and abundant supply of polyester textile waste feedstock.

The facility is positioned to be a model of sustainable production. It will be powered by 80% clean, renewable electricity and renewable biofuel, significantly reducing its environmental footprint. The resulting PET resin produced at the plant will have a reduction of up to 80% in carbon emissions compared to traditional virgin, petroleum-based PET[1].

The 93-acre site, strategically located within a Petroleum, Chemicals and Petrochemicals Investment Region ("PCPIR"), is large enough to support both an initial 70,000 metric ton per year facility as well as a planned further expansion of an additional 100,000 metric tons per year once the facility is fully operational. The PCPIR designation not only expedites the permitting process, which Loop expects to be completed by the end of 2025, but also provides access to the region's skilled labor force in the petrochemical industry. Additionally, the site's proximity to a deep-water seaport enables cost-effective logistics for export of all resin produced at the facility.

"The land acquisition in Gujarat is a foundational step that positions the Infinite Loop™ India project for groundbreaking and construction." said Adel Essaddam, COO at Loop Industries. "This site checks every box from an infrastructure, logistics, and feedstock availability standpoint. It sets the stage for deploying our technology efficiently and competitively, while providing the footprint needed for a planned 100,000 metric ton further capacity expansion once the initial facility is operational."

[1] Based on a 2023 Life Cycle Assessment of an Infinite Loop™ facility in India completed by Franklin Associates, a division of ERG, and commissioned by Loop, which compares kg for kg Loop PET vs. Virgin PET. CO2 savings are compared to the production of virgin PET made from fossil fuels and the avoided incineration of waste used as a feedstock.