Loop Industries Q1 2027 Earnings Report

Loop Industries EPS Results

• Actual EPS: -$0.07
• Consensus EPS: -$0.05
• Beat/Miss: Missed by -$0.02
• One Year Ago EPS: N/A

Loop Industries Revenue Results

• Actual Revenue: $0.18 million
• Expected Revenue: $0.54 million
• Beat/Miss: Missed by -$361.00 thousand
• YoY Revenue Growth: N/A

Loop Industries Announcement Details

• Quarter: Q1 2027
• Date: 7/14/2026
• Time: After Market Closes
• Conference Call Date: Wednesday, July 15, 2026
• Conference Call Time: 8:45AM ET

Loop Industries (NASDAQ:LOOP) (NASDAQ:LOOP) is a technology innovator in the sustainable plastics sector. The company has developed a proprietary depolymerization process that breaks down end-of-life polyethylene terephthalate (PET) plastic and polyester fiber into their base molecules. These purified monomers are then repolymerized into virgin-quality PET resin suitable for new packaging applications, creating a closed-loop recycling solution that addresses global plastic waste challenges.

With its headquarters in Terrebonne, Quebec, Loop Industries operates pilot and demonstration facilities to validate and refine its technology. The company’s business model centers on licensing its depolymerization process and establishing joint ventures with material producers and consumer goods firms. Through strategic partnerships with industry leaders, Loop aims to scale its technology across North America, Asia-Pacific and Europe, enabling large-scale production of sustainable PET resin.

Founded in 2014 by CEO Daniel Solomita, Loop Industries has progressed from early research and development to commercial engineering and project development. The company has secured collaborations and offtake agreements with major packaging and beverage brands, reflecting growing demand for recycled content solutions. Loop’s technology is designed to handle various waste streams, including colored and contaminated plastics that are difficult to recycle through conventional mechanical methods.

Under the leadership of Daniel Solomita, the company is focused on executing commercial milestones and expanding its global footprint. Loop Industries continues to invest in engineering, regulatory approvals and supply chain partnerships to accelerate the adoption of its sustainable PET resin. By offering a scalable, closed-loop recycling platform, the company positions itself as a solution provider to the plastics and packaging industry’s long-term sustainability goals.

Loop Industries Q1 2027 Earnings Call Transcript

Key Takeaways

• Positive Sentiment: Loop said debt financing for the India JV is progressing well, with multiple new term sheets, a harmonized 70/30 debt-to-equity structure, and a target to close in the fall alongside project groundbreaking.
• Positive Sentiment: The company added a 15,000-ton LOI at a fixed price from a leading textile/apparel brand, and management said it expects to secure enough customer volume through additional contracts and LOIs to support construction.
• Positive Sentiment: Loop said it has applied for Gujarat state subsidies that could return about CAD 28 million to the JV over eight years, improving the project’s economics.
• Neutral Sentiment: For the Europe licensing project with Société Générale, Loop expects pre-FEED engineering to start in September, with the project potentially reaching FID around late 2027/early 2028 and startup around 2030.
• Neutral Sentiment: Loop’s cash burn has come down to about CAD 500,000 per month, and as of May 31 it had roughly CAD 3.6 million of liquidity, while management also expects engineering contracts and future milestone payments to fund back-office needs.

Presentation

[Operator]

Good morning, ladies and gentlemen, and thank you for standing by. Welcome to Loop Industries' first quarter fiscal 2027 corporate update call. At this time, all participants are in a listen-only mode. Following management's prepared remarks, we will open the call for questions. If you'd like to ask a question during this time, simply press star, followed by one on your telephone keypad. Please note this conference is being recorded today, Wednesday, July 15th, 2026. The earnings release accompanying today's call was issued after the market closed yesterday, Tuesday, July 14th, 2026. Joining us on today's call are Daniel Solomita, Founder and Chief Executive Officer, Spencer Hart, Chief Financial Officer, and Kevin O'Dowd, Vice President, Communications and Investor Relations. I would now like to turn the call over to Kevin O'Dowd to read the disclaimer regarding forward-looking statements. Kevin, please go ahead.

[Kevin O'Dowd, VP of Communications and Investor Relations at Loop Industries]

Thank you, operator. Before we begin, I'd like to remind everyone that today's discussion will include forward-looking statements, the meaning of U.S. securities laws. These statements reflect management's current expectations, beliefs, estimates, and projections regarding future events and operating performance, including in our commercialization activities, project development, financing initiatives, and other matters that are not historical facts. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those expressed or implied. For a more complete discussion of these risks and uncertainties, please refer to the risk factors and forward-looking statement sections of our most recent annual report on Form 10-K and our quarterly report on Form 10-Q, filed yesterday with the Securities and Exchange Commission in our earnings release issued yesterday. These documents are available on the SEC's website at www.sec.gov and on our investor relations sections in our website.

[Kevin O'Dowd, VP of Communications and Investor Relations at Loop Industries]

With that, I'll turn the call over to Founder and Chief Executive Officer, Daniel Solomita. Daniel?

[Daniel Solomita, Founder and CEO at Loop Industries]

Good morning, everyone. Thank you for taking the call or being on the call. We had our Q4 results not too long ago, so we'll give all updates we can on the Q1 release. We continue to make meaningful progress on our Infinite Loop India project with our joint venture partner, Ester Industries. As we've said in the past, the JV hired KPMG to arrange the project debt for the joint venture. That process is going extremely well. We have received additional term sheets from new lenders. The consortium of debt lenders are now beginning the next phase of the debt process, which includes the technical due diligence. The debt is well underway and very confident that we'll be able to conclude the debt financing in the allotted time. We continue to advance on customer contracts. We have signed an LOI for 15,000 tons at a fixed price.

[Daniel Solomita, Founder and CEO at Loop Industries]

The customer is a leading textile apparel brand company. They do not sign forward contracts. They're more spot buyers and maybe six months contracts. They just do not sign long-term supply agreements. They have agreed to sign a LOI with us to show support for the project and their intent to buy material from the project. Their total appetite is 90,000 KTA per year. This is an LOI for 15,000 at a fixed price. Like I said, they want to be helpful to the project, and therefore they have even said that they're willing to talk to lenders if needed for the debt, to help people understand their position and why they're signing an LOI rather than a full-blown offtake agreement. We fully expect them to be a very meaningful customer for the project in the long term and to grow their volume larger over time.

[Daniel Solomita, Founder and CEO at Loop Industries]

We're very confident in being able to execute additional customer contracts in the time required to complete debt financing. Our engineering is very far advanced. We recently have applied for subsidies from the state of Gujarat. The State of Gujarat just announced subsidies for clean technology projects in the area. We have applied for the subsidy program. Our project would be eligible for approximately CAD 28 million to be returned to the joint venture by the state of Gujarat over an eight-year period. That just further enhances the financial viability and the financial returns for the project. Very encouraging sign for the project, being able to secure the subsidies from the state of Gujarat. As far as our other project with the Reed Société Générale Group licensing project.

[Daniel Solomita, Founder and CEO at Loop Industries]

As we have mentioned in the past, Société Générale has chosen a site in Schwarzheide, Germany, which is owned by BASF. That's where they will be implementing the first Infinite Loop Europe project. We are currently in final negotiations with Soc Gen for the first phase of the engineering contract, which is scheduled to begin in September of this year. Loop's engineering team will deliver a pre-FEED engineering package for a 70,000-ton Infinite Loop plant built with modular construction. This is our first modular construction project; this is definitely the roadmap for the future on how we bring low-cost manufacturing to the rest of the world.

[Daniel Solomita, Founder and CEO at Loop Industries]

What we've learned from our Indian project, how to bring down costs, we're going to be doing that in modular construction by building these plants in modules from India and then ship them on-site to different regions of the world, which minimizes local labor rates The engineering contract, this engineering contract, and the next phase of engineering, which would follow in the middle of 2027, will provide sufficient cash flow to fund Loop's back office expenses for the foreseeable future. We are continuing to evaluate options for the financing of Loop's equity for the Indian joint venture. Always, we prioritize capital, which is non-dilutive in nature, and we aim to have this financing completed in the next few months, in line with closing the debt financing. With that, I'll turn it over to Spencer Hart.

[Spencer Hart, CFO at Loop Industries]

Thanks, Daniel. On the expense side, we've continued to make good progress at lowering our cash overhead. It's now running at approximately CAD 500,000 per month. Two of the areas that the savings have come from are a reduction in employee compensation and lower insurance costs. We've also benefited from the funding that we received from the National Research Council of Canada, which is approximately CAD 2.9 million Canadian in aggregate, and which began funding on a monthly basis earlier this year. As of the end of the quarter, May 31st, we had approximately CAD 3.6 million of liquidity, which includes our credit facility. As Daniel discussed, we're focused on various approaches towards raising capital, and we will provide additional information as soon as there is a material update. I'll pass it back to Daniel to make some closing remarks, followed by Q&A.

[Daniel Solomita, Founder and CEO at Loop Industries]

Thank you, Spencer. We continue to make meaningful progress in all projects, the project in Europe and the project in India. We're very optimistic and looking forward to getting this project built. I'll turn it over to questions now.

[Operator]

Thank you. We will now begin the question-and-answer session. If you'd like to ask a question, please press star one on your telephone keypad. If you would like to withdraw your question, simply press star one again. Your first question today comes from the line of Gerry Sweeney from Roth Capital. Your line is open.

[Gerry Sweeney, Analyst at Roth Capital]

Good morning, Daniel, Spencer. Thanks for taking my call.

[Daniel Solomita, Founder and CEO at Loop Industries]

Hey, Gerry. Thank you.

[Spencer Hart, CFO at Loop Industries]

Good morning.

[Gerry Sweeney, Analyst at Roth Capital]

Good morning. Two questions. The first question really is around the debt financing. What are the major steps remaining? Is it just the technology due diligence? What are the major steps remaining, and what can you remind us of the timeline to close the debt facility, as well as is this still remaining as sort of a 70/30, 80/20 sort of debt-to-equity opportunity with the package?

[Daniel Solomita, Founder and CEO at Loop Industries]

Yeah. Thanks, Gerry. The term sheets that we've received from multiple international and local Indian lenders have all harmonized the terms. The terms are going to be 70/30 debt-to-equity split, of which Loop is responsible for 15%, because our joint venture partner, Ester, has 15%, and then we have 15%. That's the major terms. It's SOFR plus approximately 3%. That's kind of what we're looking at. A very fair interest rate. Those are the major terms of the debt. As far as next steps, there's the technical due diligence. The consortium is being formed. The technical due diligence is being done, which we've done countless amount of technical due diligence, independent technical due diligence at our facility in Montreal, Canada, most recently by Société Générale.

[Daniel Solomita, Founder and CEO at Loop Industries]

They hired a third-party specialist engineering firm to do a full due diligence on Loop's technology prior to purchasing the first license for the down payment of €10 million, plus the investment of €10 million. That was done. SK Geo Centric did a full technical due diligence as well on the technology. We have no concerns whatsoever on the technical viability of the technology. We also have commercial products for sale, such as our shoes with On Shoes and evian water bottles. We're very confident in that process. Once that is done, it's final negotiations on all of the different terms, closing of the debt. The timing is going to be in the fall of this year, which falls in line with the project breaking ground. Those are really the next steps. Obviously, the customer contracts is a piece of the debt.

[Daniel Solomita, Founder and CEO at Loop Industries]

Debt lenders want to see visibility and comfort that the customer contracts will be there. So far, we're making good progress. We have customer contracts, obviously, with Nike and Tower Plast. Now we have an LOI with another leading firm on the textile side. More to come.

[Gerry Sweeney, Analyst at Roth Capital]

Got it. Actually, that was a good lead-in for my second question. I just wanted to get an update on the pipeline for the customers. Obviously, you've already sold some products, as you mentioned, on On Shoes, you had Nike, Tower Plast, this new 15,000-ton LOI. How much material or capacity is left to sell or put under LOIs? What does that pipeline look like?

[Daniel Solomita, Founder and CEO at Loop Industries]

Yeah. We're in negotiations with several different leading brands on the textile side and on the consumer packaging side. We have, once we finalize those agreements, which are very well advanced, we will have the required amount of volume sold in either contracts or LOIs to begin construction. We're doing very well. It just takes a little bit longer. The real issue is that, especially on the textile side, it's a very complicated supply chain for the textile companies. Companies are used to buying Either garments, like you want to buy 1,000 pairs of jeans, they go to the manufacturer, and they buy the jeans in a certain color with a certain style, or they buy maybe rolls of fabric. Going back to buying PET polyester chips is a little bit foreign for some of these customers.

[Daniel Solomita, Founder and CEO at Loop Industries]

They all want to buy the material once it's available and put it into their supply chain. The problem they have is trying to figure out if they sign a contract today, where are they going to send those chips? Who's going to spin the fiber for them?

[Gerry Sweeney, Analyst at Roth Capital]

I got you. Yeah.

[Daniel Solomita, Founder and CEO at Loop Industries]

Who's going to take the fiber and make it into a textile? It complicates the supply chain, which is why it takes a little bit longer to sign these offtakes. The appetite for the material is there. Our pricing is very competitive because of the low-cost nature of India. Yeah, with the customers that we are in negotiations with now, we'll have enough of the capacity sold to begin the project.

[Gerry Sweeney, Analyst at Roth Capital]

Oh, great. I appreciate it. That's all for me. Appreciate the detail on the fabric side. It's interesting, thank you.

[Daniel Solomita, Founder and CEO at Loop Industries]

Thanks, sir.

[Operator]

Again, if you'd like to ask a question, press star one on your telephone keypad. Your next question comes from the line of Marvin Wolff from Paradigm. Your line is open.

[Marvin Wolff, Analyst at Paradigm]

Yes, good morning, Daniel. How are you this morning?

[Daniel Solomita, Founder and CEO at Loop Industries]

Very good, Marvin. How are you?

[Marvin Wolff, Analyst at Paradigm]

I'm good, too. Look, that sounds like very good progress on the LOI side. Could you give us an idea of what % of the 70,000 capacities of the plant is either covered under the Nike and LOI contracts, or if you want to make it wider even, how much of the 70,000 tons would be covered by all the contracts you're talking with at this time?

[Daniel Solomita, Founder and CEO at Loop Industries]

If we execute on the contracts that we have and the other contracts that we're in, let's say, final negotiations for, we would have most of the facility locked in either full contracts and LOIs. That's our aim. A lot of our contracts always have an option for the customer to buy additional volumes. If you have a 15,000-ton contract, usually there's a provision in the contract. They have an option for an additional 15. That's the way we structure most of our contracts. So far, they're all fixed pricing. On the consumer goods side, the packaging side, we use more of an index-based pricing model, where we have an ICIS index pricing. It's a little bit of volatility. There's always a floor pricing, a cap, and a collar in there. We're protected on the downside and the customer's protected on the upside.

[Daniel Solomita, Founder and CEO at Loop Industries]

That's the way those pricing contracts work. We will have enough of the volume secured with the contracts that we have and the contracts that are being negotiated to be able to begin the construction.

[Marvin Wolff, Analyst at Paradigm]

If I understood correctly, the LOI is like a contract in this case. You're not going to continue negotiation to a final contract, is that right?

[Daniel Solomita, Founder and CEO at Loop Industries]

Yeah. Once the plant is up and running, the LOI can be converted into spot market buying. Most of these companies and customers don't sign forward-looking contracts. They don't sign a contract for today, that the plant is going to be built in construction for 18 months and then start up in commissioning plus another three-year term on the contract. You're looking out, let's say, four and a half, five years, which for most customers is too far ahead. The plastic and chemical industry is basically spot market or six months buy. A lot of customers have just said to us, "Listen, when you guys have the material up and running, the price is good, quality is excellent, we want to buy the material." That's why. The LOI is not going to be renegotiated into a final contract.

[Daniel Solomita, Founder and CEO at Loop Industries]

We have the volume, we have the price, now it's going to be bought in the spot market for the plant once the plant is open. They've already qualified our material. They've tested our material. They like the price. They like the quality. Everything is in line. Now they can start buying the material. They just need to have the plant up and running before they can actually start purchasing.

[Marvin Wolff, Analyst at Paradigm]

Okay. That's good. If I heard you correctly, this particular customer on the LOI could take up to 90,000 tons a year in sort of the best-case scenario. Is that correct?

[Daniel Solomita, Founder and CEO at Loop Industries]

Yeah. That's their total appetite over time.

[Marvin Wolff, Analyst at Paradigm]

Yeah.

[Daniel Solomita, Founder and CEO at Loop Industries]

That their opportunity with this one customer is 90,000 tons. That would be the total opportunity. We do have a plan to build a second facility on the same site for 100,000 tons, maybe more, therefore, having customers that have that type of appetite is fantastic.

[Marvin Wolff, Analyst at Paradigm]

No, that's super. Very good. Okay. Well, congratulations on the progress made so far, it sounds like things are moving along nicely.

[Daniel Solomita, Founder and CEO at Loop Industries]

Yep. Steady progress. Thanks, Marvin.

[Operator]

Your next question comes from a line of Connor Norwood from Viking Capital. Your line is open.

[Connor Norwood, Analyst at Viking Capital]

Good morning. Thank you for taking my questions. I know you touched on this earlier, but just to clarify, how long is the new LOI expected to take to convert into a firm order? Does the banking syndicate for the India JV require that firm order to be in place to complete financing?

[Daniel Solomita, Founder and CEO at Loop Industries]

No, the banking syndicate does not require that. It's not going to be converted into a contract. It's going to be converted into a contract for spot buying once the plant is operational. The LOI gives comfort to the debt lenders that the appetite is there, the customer has offered to speak to the debt lenders to give them comfort as well that they value the material, they value our proposition, which is best quality material at great pricing. That's why there's an actual fixed price in the LOI. It's not going to be converted into a contract, it's going to be just spot buying once the plant is open.

[Connor Norwood, Analyst at Viking Capital]

Got it. Thank you. My second question here is, can you walk us through how you plan to fund operating expenses and any remaining CapEx over the next 12 months, specifically the current cash runway, and to what extent the plan relies on additional equity or debt issuance?

[Daniel Solomita, Founder and CEO at Loop Industries]

As far as our operating expenses at the back office with the liquidity we have on hand, plus our engineering contracts that I mentioned during the call, we will have sufficient cash for ongoing operations for the foreseeable future from those two sources, our existing liquidity plus the engineering contracts. There's also an additional EUR 10 million licensing payment that would be due to Loop sometime at the end of 2027 from the Société Générale group, when the next milestone is reached. Those are all things that are going to be coming into place that is going to fund all the back office. We do have a remaining equity requirement for the Indian joint venture, which today we're evaluating different opportunities to fund that.

[Daniel Solomita, Founder and CEO at Loop Industries]

As I mentioned, our priority is to do that in a non-dilutive equity, not a dilutive equity issuance, but some type of a structured debt facility. That's what our priority is, and that's what we're working towards.

[Connor Norwood, Analyst at Viking Capital]

Got it. Okay. Thank you. That's all for me.

[Daniel Solomita, Founder and CEO at Loop Industries]

Thank you.

[Operator]

Your next question comes from the line of JP Geygan from Global Value Investment Corporation. Your line is open.

[JP Geygan, Analyst at Global Value Investment Corporation]

Thank you, and good morning, gentlemen. Most of my questions have been addressed thus far, but I'd like to revisit the topic of the conditions around the debt issuance with respect to offtake agreements and LOIs. Taken together, where does the bank stand in terms of checking that box that you have enough offtake or intention to offtake from this plant in order to extend credit, or how much longer do you have to go until that condition is satisfied?

[Daniel Solomita, Founder and CEO at Loop Industries]

Yeah, I believe with the visibility on the customer contracts that we have today under negotiation, that will get us to the target that's required. I mean, the banks would like to see the most material under contract as possible. Having an LOI with a really big, respected company, and the company's willing to speak to the debt lenders really helps the process. It gives the debt lenders comfort. We've continued to attract debt lenders to the project. We've received additional LOIs since our last call, I guess, six weeks ago, for the project, and we still expect additional LOIs to come in. There's a significant amount of interest in the debt. We're very confident that we'll be able to get that debt secured and the customer contracts in line for that to happen in the time this fall when we're going to be breaking ground.

[JP Geygan, Analyst at Global Value Investment Corporation]

Got it. Thank you. If you break ground in the fall, walk us through the additional steps to get to the point where you're actually constructing the plant.

[Daniel Solomita, Founder and CEO at Loop Industries]

Yeah, it's an 18-month construction period. You have a startup and commissioning phase, which there's no real hard science on how long it takes to do the startup and commissioning. We'll have the plant up and operational in 2028.

[JP Geygan, Analyst at Global Value Investment Corporation]

Okay. Thank you. Same question, but with respect to the Europe plant, and I realize the dynamics there are somewhat different, but what should our expectation be on timing and milestones?

[Daniel Solomita, Founder and CEO at Loop Industries]

For the European plant?

[JP Geygan, Analyst at Global Value Investment Corporation]

Correct.

[Daniel Solomita, Founder and CEO at Loop Industries]

That's just a licensing agreement, right? We're not expecting to put any capital into the project. We're not going to be injecting any monies to get any equity in the project at this time. For us, the roadmap there is we've received the first EUR 10 million down payment from SocGen. We also received a EUR 10 million investment from them, which is a structured debt piece. The next phase is the pre-FEED and the FEED engineering. Those are two separate engineering packages that come from Loop's engineering team and our partners, where we do the modularization from. Those two contracts, the first one starting in September of this year. It's about a six-month contract. You could say by Q1 2027, that contract is completed.

[Daniel Solomita, Founder and CEO at Loop Industries]

In the middle of the year, we'll start the second contract, which is an additional six months of work, potentially eight months of work. Once that is completed, the expectation is at the end of 2027, beginning of 2028, FID happens for the project. At which time, at FID, Loop receives an additional EUR 10 million licensing payment from the European partnership from SocGen and the consortium there. Once that happens, then the modularization construction piece happens. We're working with our partners on doing the modularization and selling the modules to the project. For the project to be up and operational, let's say in 2030.

[JP Geygan, Analyst at Global Value Investment Corporation]

Okay. That timeline is helpful.

[Daniel Solomita, Founder and CEO at Loop Industries]

Loop gets paid in advance, right? We get paid for engineering phase 1, engineering phase 2, additional licensing payments on the milestones, and then the sale of the modules. That's how we generate cash from this project. We're making money throughout the entire process.

[JP Geygan, Analyst at Global Value Investment Corporation]

There's really three separate revenue streams here. One is the licensing revenue, two is the engineering packages, three would be the economic benefit you derive from selling of the modularized structures. Can you talk a little bit about that third bucket?

[Daniel Solomita, Founder and CEO at Loop Industries]

Yeah, the third bucket is still something that we're finalizing. Obviously, we put a lot of work into the modules. It's all our equipment, all our design, that's part of our business model. Yeah, that's something that we're still working out. The full entire package is, that funds all of our cash needs for the foreseeable future and potentially also the repayment of the structured debt to Soc Gen when it comes due.

[JP Geygan, Analyst at Global Value Investment Corporation]

Great. All right. Thank you very much.

[Daniel Solomita, Founder and CEO at Loop Industries]

Thanks.

[Operator]

Your next question comes from the line of Varyk Kutnick from Divyde Capital Partners Your line is open.

[Varyk Kutnick, Analyst at Divyde Capital Partners]

Hey, Daniel. Hey, Spencer. Thanks for taking the question.

[Daniel Solomita, Founder and CEO at Loop Industries]

Hey, Varyk.

[Varyk Kutnick, Analyst at Divyde Capital Partners]

Wanted to jump in.

[Daniel Solomita, Founder and CEO at Loop Industries]

Thanks. Hi, Varyk. How are you?

[Varyk Kutnick, Analyst at Divyde Capital Partners]

I'm doing well. Thanks, guys. What is the total available liquidity today if we include undrawn lines of credit along with cash balance?

[Daniel Solomita, Founder and CEO at Loop Industries]

You want it in, like, a timeline?

[Varyk Kutnick, Analyst at Divyde Capital Partners]

No, today.

[Daniel Solomita, Founder and CEO at Loop Industries]

We're-

[Varyk Kutnick, Analyst at Divyde Capital Partners]

What is the line of credit in all US dollars?

[Daniel Solomita, Founder and CEO at Loop Industries]

Yeah. We have additional liquidity through to the end of the year.

[Varyk Kutnick, Analyst at Divyde Capital Partners]

Right. Without the engineering fee. I'm just trying to get an idea.

[Daniel Solomita, Founder and CEO at Loop Industries]

Yeah. That's without the engineering contract through the end of the year. The end of the calendar year. The engineering contract is going to begin in September, of which we're going to be generating significant revenue and profitability from it.

[Varyk Kutnick, Analyst at Divyde Capital Partners]

Okay. That's all I had. Most of my questions were answered. Good luck with everything, guys. Appreciate it.

[Daniel Solomita, Founder and CEO at Loop Industries]

Yeah. All of our, on the liquidity side for the back office, that's something that we fully expect to be funded through the engineering contracts and our available liquidity.

[Varyk Kutnick, Analyst at Divyde Capital Partners]

Cool. All right. Thanks. Good luck, guys.

[Daniel Solomita, Founder and CEO at Loop Industries]

Thank you, Varyk.

[Spencer Hart, CFO at Loop Industries]

Thank you.

[Operator]

There are no further questions at this time. I will now turn the call back over to Daniel Solomita for some final closing comments.

[Daniel Solomita, Founder and CEO at Loop Industries]

Thank you everybody for assisting the call. Like I said, we're making significant progress and meaningful progress on all fronts and really looking forward to getting the engineering contracts done and the project in India breaking ground. Thank you very much.

[Operator]

This concludes today's conference call. Thank you for your participation. You may now disconnect.

Participants

Executives

• Kevin O'Dowd, VP of Communications and Investor Relations
• Daniel Solomita, Founder and CEO
• Spencer Hart, CFO

Analysts

• Gerry Sweeney, Analyst at Roth Capital
• Marvin Wolff, Analyst at Paradigm
• Connor Norwood, Analyst at Viking Capital
• JP Geygan, Analyst at Global Value Investment Corporation
• Varyk Kutnick, Analyst at Divyde Capital Partners