Loop Industries, Inc. (NASDAQ:LOOP) Q1 2023 Earnings Conference Call July 14, 2022 10:00 AM ET

Company Participants

Kevin O’Dowd - Vice President of Communications and Investor Relations

Daniel Solomita - Founder and Chief Executive Officer

Drew Hickey - Chief Financial Officer

Conference Call Participants

David Quezada - Raymond James

Gerry Sweeney - ROTH Capital Partners

Sameer Joshi - H.C. Wainwright & Co.

Operator

Good morning, ladies and gentlemen. Thank you for standing by. Welcome to Loop Industries' First Quarter 2023 Update Call. During today's presentation, all parties will be on listen-only mode. Following the presentation, the conference will be opened for questions. This conference is being recorded today, July 14, 2022, and the press release accompanying this conference call will be issued after market closed yesterday, July 13, 2022.

On our call today is Loop Industries' Chief Executive Officer, Daniel Solomita; Chief Financial Officer, Drew Hickey; and Kevin O’Dowd, Vice [Principal] (ph) Communications and Investor Relations.

I would now like to turn the conference call over to Kevin to read the disclaimer about the forward-looking statements.

Kevin O’Dowd

Thank you, operator. Before we get started, let me remind you that today’s meeting will include forward-looking statements within the meaning of the Security Laws. These forward-looking statements relate to, among other things, current plans, expectations, events, and industry trends that may affect the company’s future operating results and financial position. Such statements involve risks and uncertainties in future activities and results may differ materially from these expectations. Additional information concerning these statements and related risks and uncertainties is contained in the risk factors in forward-looking statements section of our annual 10-K filed with the SEC yesterday, in yesterday’s press release. Copies of these documents are available at sec.gov or from our Investor Relations department.

At this time, I’d like to turn the call over to Daniel Solomita, Chief Executive Officer of Loop Industries. Daniel, please go ahead.

Daniel Solomita

Thank you, Kevin. And good morning, and thank you to everyone for joining us. Very pleased to share Loop's progress on our financial update with you today. One of the major items that happened recently in our quarter is on June 16, 2022, for our French project or European project in partnership with SUEZ. We announced that SK Geo Centric will become an equal partner in that strategic partnership, which was formed to build the first Infinite Loop manufacturing facility in Europe. So having SK Geo Centric bring their experience on the petrochemical manufacturing, complements SUEZ's ability on -- SUEZ's expertise on feedstock sourcing and Loop’s technology part and the marketing and branding of the Loop branded resin. So those three companies together really is complementing each other. So that's a fantastic addition to that partnership. Things on that partnership are moving well. We're scheduled to break ground in 2023 for that project. Right now, we're going through all of the permitting necessary to build something in Europe.