Hydrogen Cost-Parity With Diesel Cut by up to Eight Years With New Loop Energy Fuel Cell

19.9.2022 13:30:00 EEST | Business Wire | Press release

Loop Energy™ (TSX: LPEN), a designer and manufacturer of hydrogen fuel cells for commercial mobility, will unveil its landmark 120 kW fuel cell system at IAA Transportation 2022 in Hannover, Germany, today.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220919005215/en/

To view this piece of content from mms.businesswire.com, please give your consent at the top of this page.

Loop Energy announces the launch of the S1200. (Photo: Business Wire)

The announcement marks a milestone for Loop Energy as it believes this new product is a significant achievement in advancing the global hydrogen industry and the transition of commercial transport industries by achieving fuel cost parity with diesel by up to eight years earlier than previously possible.

The 120 kW fuel cell system, the S1200, builds on Loop Energy’s existing technology, to provide an additional efficiency gain of 20% when it generates electricity. The S1200 is designed to deliver up to 60% in net system efficiency⁽¹⁾, this efficiency enables an electric vehicle powered by a Loop Energy fuel cell to deliver up to 54%⁽²⁾ fuel to wheel efficiency compared to the typical fuel to wheel efficiency delivered by a diesel engine powered vehicle of 20% to 25%⁽³⁾.

Loop Energy believes the S1200 and its next-generation technology will significantly benefit commercial vehicle manufacturers, fleet operators and associated industries, as well as the global clean energy transition as governments seek to reach net zero emissions by 2050.

Loop Energy has achieved this efficiency gain because of its patented eFlow™ fuel cell architecture. Specifically, Loop Energy uses a signature trapezoid plate with narrowing channels for its bipolar plates, which increases gas velocity down the plate to deliver superior performance for fuel efficiency, and power output.

For fleet managers, operators of commercial vehicles and the wider hydrogen infrastructure market, that means less hydrogen fuel used per kilometre, lowering the total cost of ownership (TCO) of hydrogen-electric commercial vehicles.

Fuel costs make up roughly half of the total cost of ownership for heavy-duty hydrogen vehicles, which makes advancement in fuel efficiency a significant factor in creating a tipping point for commercial transition from diesel to clean fuels.

Loop Energy’s presence at IAA Transportation 2022 also signifies its commitment to the European continent, where it plans to expand its presence and customer base. Loop Energy already has offices in Italy and the UK, and is actively engaged with OEMs across the region. Loop Energy is also active in Asia, with its new manufacturing facility in Shanghai.

The S1200 opens up a new market for Loop Energy as the product is specifically designed for medium- to heavy-duty commercial vehicles, which is a step up in power range and scope compared to its other fuel cell products.

The S1200 is delivered as a complete fuel cell system which simplifies and quickens integration for vehicle OEMs, and makes it a ready-to adopt solution for heavy-duty transportation and power system applications.

Loop Energy President & CEO, Ben Nyland said: “With the launch of our new fuel cell system, we are proud to be leading the way in making transport electrification economically viable. The S1200 brings world-leading fuel efficiency levels for medium to heavy-duty vehicles, crucially making the total cost of ownership lower and bringing fuel cost parity forward by four-to-eight years.”

“We are keen to work with OEMs, governments and the wider hydrogen industry to help meet zero-emission targets. We strongly believe that energy transition must happen now, and hydrogen fuel cell technology is in prime place as an alternative to diesel-powered vehicles.”

Canadian Minister of Environment and Climate Change, The Honourable Steven Guilbeault, said: “Very happy to see Canadian companies such as Loop Energy leading in the global clean energy sector. They are creating sustainable jobs for workers, while contributing to our global climate objectives and a better future for everyone.”

Specifications of the S1200 fuel cell system:

Up to 120 kW peak power using Loop Energy's next generation bipolar plates
Deliver up to 60% for net system efficiency in cruise mode
Wide cruise mode window that ensures high fuel efficiency across a wide range of power demands for different routes and driving conditions
Competitive dimensions and flexible packaging with IP67 protection
Loop Energy's first load-following fuel cell with dynamic response time
Wide operating temperature range with freeze-start capability

About Loop Energy Inc.

Loop Energy is a leading designer and manufacturer of fuel cell systems targeted for the electrification of commercial vehicles, including light commercial vehicles, transit buses and medium and heavy-duty trucks. Loop Energy’s products feature Loop Energy’s proprietary eFlow™ technology in the fuel cell stack’s bipolar plates. eFlow™ is designed to enable commercial customers to achieve performance maximization and cost minimization. Loop works with OEMs and major vehicle sub-system suppliers to enable the production of hydrogen fuel cell electric vehicles. For more information about how Loop Energy is driving towards a zero-emissions future, visit www.loopenergy.com.

Forward-Looking Warning

This press release contains forward-looking information within the meaning of applicable securities legislation, which reflect management’s current expectations and projections regarding future events. Particularly, statements regarding the Company’s expectations of future results, performance, achievements, prospects or opportunities or the markets in which we operate is forward-looking information, including without limitation statements regarding the ability for Loop Energy's technology to accelerate or achieve cost parity between diesel and hydrogen and the expectation that the S1200 will accelerate demand for the Company’s products.

Forward-looking information is based on a number of assumptions (including without limitation assumptions regarding the price of hydrogen, the potential growth of the bus and truck market and the continued government support for the transition to net zero emissions) and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control and could cause actual results and events to vary materially from those that are disclosed, or implied, by such forward‐looking information. Such risks and uncertainties include, but are not limited to, hydrogen and diesel fuel cost prices reaching targeted price ranges, fuel cells and diesel engines delivering upon stated efficiency levels, commercial uptake of the Loop Energy’s products increasing and the factors discussed under “Risk Factors” in the Company’s Annual Information Form dated March 23, 2022. Loop disclaims any obligation to update these forward-looking statements.

References

¹ Net system efficiency includes power consumption of the air compressor, coolant pump, and other system components;, the gross design efficiency of the underlying Loop fuel cell stack is up to 65%

²Assumes a 90% drivetrain efficiency of the electric vehicle ⁽³⁾

³ Hjelkrem et.al., Estimation of tank-to-wheel efficiency functions based on type approval data, Applied Energy 276 (2020)

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220919005215/en/

Contact information

About Business Wire

Business Wire

http://www.businesswire.com

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Pioneering Impact Strategy, Record EM Sustainable Finance (EMSF), Celebrates Its Fourth Anniversary With Strong Outperformance Since Inception1.7.2025 09:00:00 EEST | Press release

Record Currency Management, in partnership with UBS Wealth Management, is proud to celebrate the fourth anniversary of its pioneering Emerging Market Sustainable Finance (EMSF) Strategy. Operating at the intersection of impact investing, Emerging and Frontier Market currencies and private placements, the strategy offers investors an opportunity to achieve financial returns, alongside measurable impact. Since inception, EMSF has grown to over U$1 billion in AUM and delivered positive returns of +18.7% since inception. The strategy has significantly outperformed both USD and local currency EM Debt benchmarks with around 30% lower volatility - reaffirming that investors need not compromise between financial returns and measurable impact. By taking currency risk across a wide universe of emerging and frontier currencies, EMSF helps MDBs and DFIs raise local currency funding. This allows borrowers in Emerging Markets to receive funding in local currency, eliminating FX risk. Simultaneously,

Lazard Welcomes Klaus H. Hessberger as Managing Director and Global Co-Head of Financial Sponsors Group1.7.2025 08:50:00 EEST | Press release

Lazard, Inc. (NYSE: LAZ) today announced that Klaus H. Hessberger has been appointed to the firm as Managing Director, Global Co-Head, and Head of Europe for Lazard’s Financial Sponsors Group, based in London. Adam Cady, previously Lazard’s Head of Large-Cap Financial Sponsor Coverage North America in New York, has also been named Global Co-Head of the Global Financial Sponsors Group, running the team together with Klaus. These appointments reflect Lazard’s expanding connectivity and partnership with alternative asset managers, which continues to be a principal area of focus and a major source of future growth for the firm globally. Lazard’s recruiting efforts are also a key contributor to the firm’s long-term growth goals, with ongoing success in attracting top tier talent globally. “Klaus is a recognised leader in the global financial sponsor community with an impressive track record of advising global alternative asset managers and leading teams of highly experienced industry profes

Usercentrics Report Reveals: As Concern Over Data Use Grows, Transparency Becomes the Number One Driver for Building Trust1.7.2025 08:28:00 EEST | Press release

59% of consumers are uncomfortable with their data being used to train AI systems, according to a new report from privacy tech leader Usercentrics. But it isn’t AI itself that worries consumers - it’s the lack of clarity around how their data is used. Rather than rejecting innovation, people are demanding greater transparency and control. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250630843237/en/ How much do consumers trust companies in various industries when it comes to data collection and use? According to the State of Digital Trust 2025report, based on insights from 10,000 frequent internet users across Europe and the United States, digital privacy has become a strategic imperative. “We’re not witnessing a breakdown in trust, but a reset in expectations,” says Adelina Peltea, CMO at Usercentrics. “In the age of AI, giving users real control over their data isn’t just about compliance - it’s how brands build loyalty.

Galderma Announces Departure of Its Chief Financial Officer1.7.2025 08:00:00 EEST | Press release

Galderma Group AG (SIX:GALD), the pure-play dermatology category leader, today announced that Thomas Dittrich, Chief Financial Officer, will be leaving the company to pursue another senior executive opportunity outside the organization. “We thank Thomas for his financial leadership and many contributions during his time at Galderma. He played a key role in establishing the financial discipline, operational readiness, and strategic clarity that will continue to guide us forward. We wish him every success in his next role and remain focused on further accelerating Galderma’s strong growth – from category leadership to becoming a true powerhouse in dermatology.” FLEMMING ØRNSKOV, M.D., MPH CHIEF EXECUTIVE OFFICER GALDERMA Thomas Dittrich will remain with the company as Chief Financial Officer through Q2 2026 to ensure a seamless transition through the close of the 2025 fiscal year. A successor will be announced in due course. “I want to thank Flemming, our Board of Directors, our investor

Transition Industries Signs Strategic Agreements for the Pacifico Mexinol Project, the Largest Standalone Ultra-Low Carbon Chemical Production Facility in the World30.6.2025 21:30:00 EEST | Press release

Transition Industries LLC, a developer of world-scale, net-zero carbon emissions methanol and green hydrogen projects in North America, held a signing event for an Engineering, Procurement, and Construction (EPC) contract with the consortium of Samsung E&A Co., Ltd. (Samsung E&A), Grupo Samsung E&A Mexico, S.A. de C.V., and Techint Engineering and Construction for the Pacifico Mexinol project located in Ahome, Sinaloa, Mexico, which is contingent upon the fulfillment of customary conditions precedent and obtainment of all required approvals. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250630940954/en/ MAIRE group’s technology division NextChem, through its subsidiary KT TECH SpA, also signed a Basic Engineering, Critical and Proprietary Equipment Supply Agreement with Samsung E&A in connection with its proprietary NX AdWinMethanol®Zero technology supply to the project. Transition Industries is jointly developing the Pacif

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom