Thank It's a we you our Good morning, quarter ago. X had call. joining everybody. quarterly a our call, month year-end for about because short call
part At go Reed. So with venture. refinancing. last -- end the important a a agreements our go for through is of X the we items, I'll through the One which most joint quarter, is concluded
and across joint equity from annual is venture, Europe, prefer a we private plants work needs that countries. Europe the Loop in to more be we to higher-cost the and joint a royalty on created together The whereby those equity Reed put joint commitment able venture of an technology on basis partner coming lessen fees build firm Loop's see fees we with into be type these venture to this rely licensing XX-XX In in to to as a French to So to with manufacturing environments, a work developing able facilities. Europe.
Reed fees. for less So with royalty on and and partnership engineering yearly Loop equity that's our relying why so less the us, more much commitment CapEx, makes for sense
key company. that's that's a key the theme So throughout -- a entire
So manufacturing whatever in on doing we'll check and for of higher-cost equity on be to we're a definitely take the looking countries, licensing the mostly rely side. partners part
We India, and about with when step will I capital to lower second as Ester. partnership more our a CapEx, where at be attractive the speak lower-cost we'll deploying manufacturing in economics, such countries get much that
of in fund the also with The other Loop facility to providing part partnership partnership in commercial first India is with Ester. Reed our financing
been It's So related Reed joint package. not delays There's besides venture, than Loop. to close longer we some financing taken have deal. side, to the expected had this Reed on we the
As they're you The saw, delays have of the we available. once and soon publicly all will finalized. been details communicated have very the be everything agreements of
our control. the was it's of it's, the the little those at But are once day, publicly it's end And So day, bit to available. of something us. very the at end that a beneficial of out delays
being we've So stated. we'll transaction available, all We're publicly to going of as delays soon the that confident very quarter, as our to those this as communicate are in shareholders. to be able close
So things well are really front. progressing on that
Loop. run want the and been package to closing. publicly, package good the an I said, once communicated then provide market financing is have just line, the time to delays we'll I because financing timeline really as update the we'll it through And to updated like for a
call. easier XX% to make at euros convert the for into it I'll So just dollars U.S.
in X and So in Loop. a XX% rate pressured now. per convertible from It's converts interest to $XX million years security, share the is package financing at $XX million, $X.XX
rate Loop the now. environment stock XX% X years So reasonable, interest from if is very $X.XX at today's converting in
That be $XX our million, office So CapEx a which rates. cash the And tranche, capital office. sorry, is at head can of a which million. at is rate, for in used current that's then debt about which It at to run burn there's our for requirements at XX% used X is XX% second interest India. gives year $XX straight us be
million million, requirement CapEx the interest coming from be would so Loop's of it $XX is the million. X that million payable is and and equity XX% share rate, $XX Today, would out $XX in years. $XX be
facility runway build before extra loan the up it to to X we and the to then years us rate. So have with And repay interest have the X running. have you an gives years of year this
a So financing up get Loop that and facility for great running. first to it's really package
So an our financing. $XX excited XX% really about terms of partner have is then financing additional we're And the also who the the government Indian CapEx to we million. up of
financing Reed's for our and XX% as preferred it money XX% coming interest so convertible partner, -- follows stock check issue of tranche from the ownership almost share $X.XX security, per the, at entire our government at converting JV entity second X years. Reed Ester Quebec, entire the government the much of covers the the Loop pretty in the the Loop terms the same to between needs and equity So that
financing package. the of the end it's really at great So a day,
year of cash approximately about All plus India. for commitment of gives equity we together in a combined us the need this our burn money
and partner -- the was first India facility It's took longer. with But it Ester. we've financing yes, in with our the little a it's of painful. bit financing the end little delayed. have our for great entire for at with our partnership It bit a day, needed a So package us,
options, -- if needed couple are for have of a we bridge do financing. some We
little different we right we're did to cash few So we're a those as a right a now. that options evaluating bridge, of now. we need bring have options in exploring If
not. that something But that it do is see that's to do if to or us to So available we we're for that. monitoring want
like update venture side, joint financing the pretty the the on the partnership, the Reed that's and financing. So much
facility need the So are our financing to just have and good running. we financing really the to packages up first Loop, package and financing there's all
the Next with partnership. the Ester would Indian partnership be
So partner, advancements we're good with facility. our the Ester making on
securing all So is polyester we've Surat area, the fiber which textile manufacturing facility. of where India, a for done. feedstocks in There's the waste region begun is
So there's an fiber today scrap available, abundance but have of textile does type of for waste any polyester it. not use
And it's plentifully available. so
facility in Quality material our We've standards. tested Montreal. the at our meets
to it polyester that fiber locating of So eventually been material We'd in for be more area. of area abundance than almost first because plans able in that's quality a second feedstock facilities we waste well. somewhere the good and material facility have our abundance secure to do the and as facility that need we've
to We're from to area looking for to locate hired very clean site the the us. so at this a be finished main points all close the port is engineering of for a the British facility. mostly We've energy a site few And firm for that Surat because exporting the important feedstock, criteria, we'll close close us. different sites. products waste to the
that's lowest important to on our energy MEG biomass source and So there's and make clean so for we carbon very in primary market. the a sure have as an have abundance criteria of the India we using polyester, energy another PET customers, DNT options
So source for clean renewable energy energy having is important very us. that
Like on On Wind commitment $XXX facility. at possible. said CapEx much looking estimates million and Solar the still as electrical earlier, grid $XX be as the as well, Loop's for would entire I for we're in equity million, $XXX -- India the with $XX Ester's million about for finance, projects. be syndicate banking project as Ester and we've banking would financings the which providing well of million begun working that
is very demand is Stock strong. Customer availability plentiful.
near we've other for is in been industry, to the textile exported polyester So India has either most of textile all where out the which I our that, in plastics into the for PET perfect India of will be our fiber or said, global customers. base reaching Like customer India most and Bangladesh bottles, material and of manufacturing for countries. manufacturing some place the very going
And cells. to our chain logistics cost there's close down the then the be And to DMT cut and on so perfect makes MEG and supply it for customers. sense
into marketplace products. types different to where really tremendous able market. for sell DMT of There's underserved being So all it's a the demands DMT for an specialty
different had MEG quality tested quality. virgin the And for our light customers DMT material is being and so by all we've various
the testing the been on feedback of has positive. all super So
providing then we about And of polyester DMT, our at excited have this we're offering as So MEG fiber. and PET well Ester. the partner as
a like-minded now. for So India we business the since have X very right in plants companies. been have PET Ester's in they XXXX, running --
we India. had send with Loop DMT produced working for send in it customers. them We've for and years. for them great They our our X We're So it a and X relationship a we've We us, then We to Canada. years. facility with a polymerize -- it MEG. at to the been and
long-standing So like-minded companies. very relationship, have a
joint that I are side, me. that updates So That's it had speak about really on positive today. very to for venture. it's major the a two Those
the CFO, turn to call this I'll time. over at Fady our
