Loop Industries, Inc. (NASDAQ: LOOP) announced that its Board of Directors has formed a Strategic Alternatives Committee to evaluate financing options and potential transactions, including a possible sale, merger, or going-private deal.

The Montreal-based company said the committee's immediate focus is securing capital for a planned joint venture in India, through project-level debt, strategic capital, equity financing, or a combination of those sources.

The committee's formation follows Jeff Geygan's appointment as Chairman of the Board and the separation of the Chairman and Chief Executive Officer roles. Geygan said in a statement that the board will "evaluate every credible path to unlock the value of Loop's technology and intellectual-property platform."

The committee will also consider strategic investments, licensing and commercial partnerships, regional joint ventures, business combinations, and corporate-structure alternatives.

Daniel Solomita, founder and Chief Executive Officer, will continue to lead the company's operating and commercial activities, including the India joint venture and financing initiatives.

Loop said no decision has been made regarding any specific alternative and no timetable has been set. The company added there is no assurance the review will result in any transaction. Loop does not intend to comment further unless the board approves a specific course of action.