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

Exein Unveils Next-Generation Runtime Security to Protect the AI-Native World23.3.2026 15:00:00 EET | Press release

Exein, the global leader in runtime cybersecurity, today unveiled Photon, a preemptive breakthrough solution that blocks cyberattacks at the point of execution. Designed for the AI-native world - where digital and physical systems are now inseparable - Photon marks a fundamental shift in how critical infrastructure protects itself. Unlike traditional cybersecurity solutions that detect threats after compromise - typically operating in user space and relying on a cloud network - Exein’s Photon operates directly inside the kernel, preventing malicious execution paths before they can run. By blocking attacks before the point of execution, the technology dramatically reduces latency and eliminates entire classes of threats before damage occurs. If malicious instructions cannot execute, the attack itself cannot take place. This advancement establishes a new category of runtime security designed for systems that cannot be disconnected: physical AI and IoT environments, autonomous AI agents,

Xsolla Partners With Cyprus Game Makers Association (CYGMA) as the Island Emerges as a Game Development Hub23.3.2026 15:00:00 EET | Press release

Xsolla, a global video game commerce company that helps developers launch, grow, and monetize their games, today announced a strategic partnership with the Cyprus Game Makers Association (CYGMA). The collaboration will provide creators and studios within the CYGMA network with hands-on support, industry expertise, and access to world-class commerce tools, helping Cyprus-based studios bring their titles to players worldwide. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260323570679/en/ Graphic: Xsolla The partnership comes as Cyprus continues to attract game development talent, fueled by favorable business conditions and a growing creative community. Through its collaboration with CYGMA, Xsolla aims to accelerate momentum and expand opportunities for developers by removing commerce and distribution barriers that often prevent emerging studios from reaching global markets. As part of the agreement, Xsolla will sponsor a seri

Manhattan Associates’ 2026 Unified Commerce Benchmark Reveals the High Price of Standing Still in Retail23.3.2026 14:30:00 EET | Press release

Manhattan Associates Inc. (NASDAQ: MANH), today announced the findings of its 2026 Global Unified Commerce Benchmark for Specialty Retail, the industry’s most comprehensive assessment of how well retailers connect digital and physical experiences to drive growth, profitability and loyalty. Conducted by Incisiv, a leading retail research firm, the Benchmark is based on real-world purchases and returns. It analyzes more than 400 specialty retailers across EMEA, LATAM and North America on 330 capabilities spanning four key experience areas: Shopping, Checkout, Fulfillment, and Service. The 2026 Benchmark reveals that while the industry has made steady progress in unified commerce maturity since 2023 when it was first launched, only 7% of retailers have achieved true unified commerce leadership while 33% are still stuck in the Basic category. Leaders are translating connected, data‑driven yet customer-centric experiences into nearly 2X higher growth rates than their basic peers. The Benchm

Starr Completes Acquisition of IQUW Group23.3.2026 14:00:00 EET | Press release

Starr, a global investment and insurance organization, today announced that it has completed its acquisition of IQUW Group, creating a broader, more diversified specialty (re)insurance platform with enhanced capabilities across the London market, Bermuda and UK retail motor. The combined Starr business now serves more clients and brokers in more specialist classes and market segments globally. With IQUW Group, Starr has strengthened its position in the London market and established its managing agency as the ninth-largest at Lloyd’s. Importantly, Starr will continue to operate with a strong emphasis on underwriting expertise and best-in-class broker and client experience and service. Clients and brokers will benefit from a broader product offering, quick decision-making, greater capital strength and expanded global reach. Starr’s reinsurance capability is also significantly enhanced following this transaction. IQUW Re Bermuda and IQUW’s London reinsurance business will now trade as Sta

Biocytogen Announces Strategic Collaboration with Moonlight Bio to Advance Cell Therapies Using Library of Antibody Binders23.3.2026 14:00:00 EET | Press release

Biocytogen Pharmaceuticals (Beijing) Co., Ltd. (Biocytogen, SSE: 688796; HKEX: 02315), a global biotechnology company that drives the research and development of novel antibody-based drugs with innovative technologies, today announced a strategic collaboration with Moonlight Bio, Inc., a Seattle-based biotech company pioneering advanced cell therapies. This partnership aims to develop cutting-edge cell therapies to address some of the most challenging and difficult-to-treat cancers. Dr. Yuelei Shen, President and CEO of Biocytogen, said, “We are thrilled to partner with Moonlight Bio, a pioneering leader in advanced cell therapies. This strategic collaboration leverages our proprietary off-the-shelf fully human antibody library to accelerate the development of cutting-edge cell therapies for difficult-to-treat cancers. It also demonstrates the versatility and broad applicability of Biocytogen’s antibody discovery platforms beyond traditional drug modalities. By combining our expertise,

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