Loop Industries' Problems Are More Than Plastic [Seeking Alpha]
Loop Industries, Inc. (LOOP)
US:NASDAQ Investor Relations:
loopindustries.com/en/investors/home
Company Research
Source: Seeking Alpha
Loop Industries' Problems Are More Than PlasticSummaryLoop Industries claims to “utilize its proprietary recycling technology to recycle all elements…as well as all additional shipping components,” despite management privately admitting that it sends LDPE to traditional recyclers.Loop raised $19.7 million on twisted language that suggests the company’s recycled plastic is FDA-approved. Plastics and recycling trade websites, including corporate partners, have perpetuated this language.Loop claims that its chemical recycling process is proprietary; my analysis of the company’s patent suggests that Generation II depolymerization doesn’t fall under the company’s patent.The company has not reported production or recovery rates yet plans on building a second recycling plant. Cash burn leaves a little more than a quarter before necessary capital raise.Loop’s CEO tried the same business model at Dragon Polymer. Barron’s and the WSJ reported that LOOP’s second-largest investor leaked revenue n
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