This agreement reflects the continuing progression in the global deployment of Loop's PET depolymerization technology. This new engineering mandate will support ELITe through construction as it moves towards breaking ground on the Infinite Loop™ India facility, which is anticipated in the second half of calendar 2025.
The newly signed $1.5 million engineering services agreement builds on the initial engineering services agreement with ELITe which was fulfilled over Q4 of fiscal 2025 and Q1 of fiscal 2026. This underscores the role of engineering services in Loop's commercialization strategy as an important and growing source of revenue. We anticipate entering into additional engineering services agreements for India, Europe and other projects as we advance the development of future Infinite Loop™ facilities.
