Business Wire

Loop Energy and Mobility & Innovation Advance to Commercial Scale-Up Phase

Share

Loop Energy TM (TSX: LPEN) announces Mobility & Innovation (M&I) has purchased an additional 10 fuel cell systems to meet the growing demand for its hydrogen-electric city bus. The order sees Loop Energy progress to the Scale-Up Phase with a second bus manufacturer.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220725005200/en/

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

Loop Energy will provide Mobility & Innovation with an additional 10 fuel cell systems. (Photo: Business Wire)

Upon delivery of the additional S300 (30 kW) fuel cell systems, Loop Energy will aim to support M&I in increasing the production of its 8-metre city bus and monitor operational performance. Previously, the two companies partnered to develop the prototype bus, complete field testing and achieve EU homologation.

Following launch in March 2022, M&I showcased the bus across various European markets. Throughout the tour, the bus demonstrated increased fuel efficiency, allowing it to achieve further range with less onboard fuel storage. This has been a standout feature for fleet operators looking for a zero-emissions solution to electrify transit bus fleets.

“We now have the opportunity to deliver our hydrogen-electric city bus to some of Europe’s largest and most progressive markets for hydrogen-electric vehicles,” said Mobility & Innovation Co-Owner and CEO, János Onódi. “We offer a solution to decarbonizing urban transit, and with Loop Energy’s technology and support, we hope to deploy our buses in cities around Europe in the near future.”

“Mobility & Innovation has made tremendous inroads into the market over the last few months, and we are proud to be their fuel cell partner as they continue their journey,” said Loop Energy Chief Commercial Officer, George Rubin. “The accelerated growth in order volume for our fuel cell engines is a direct reflection of rapid expansion of demand for hydrogen-electric vehicles in our core markets.”

M&I’s progression to the Scale-Up Phase builds upon Loop Energy’s recent success of entering the Full Production Phase with Tevva Motors after finalizing a multi-year fuel cell supply agreement with delivery commitments in excess of US$12 million. Due to the accelerated adoption of its technology and the strong growth of its customers, Loop Energy will provide an update on its purchase order guidance during its Q2 2022 financial results on August 4. For dial-in details, visit: https://loopenergy.com/news/q2-2022-earnings-results-call/.

About Mobility & Innovation Production s.r.o.

Mobility & Innovation Production s. r. o. is a Slovakian company responsible for the development of composite lightweight, zero-emission city bus platform. M&I’s platform is known for its hydrogen electric powertrain and industry leading GVWR (Gross Vehicle Weight Rating) for a zero-emission transit bus vehicle, while its low curb weight enables greater passenger capacity while still meeting even the most stringent axel load requirements. For more information, please visit http://mobility-inovation.sk/hu.html.

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’s products feature the company’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 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 the expected fuel efficiency and performance of the Company’s products and the Company’s expectation of future orders for its products from Mobility & Innovation. Forward-looking information is based on a number of assumptions (including without limitation assumptions with respect the current and future performance of the Company’s products and growth in demand for the Company’s products from Mobility & Innovation and other customers) 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, the ability of the Company to execute on its strategy, progress existing and future customers through the Customer Adoption Cycle in a timely way, the realization of electrification of transportation, the elimination of diesel fuel and ongoing government support of such developments, the expected growth in demand for fuel cells for the commercial transportation market and the factors discussed under “Risk Factors” in the Company’s Annual Information Form dated March 30, 2021. Loop disclaims any obligation to update these forward-looking statements.

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

Contact information

Investor Inquiries:
Investor Relations | Tel: +1 604.222.3400 Ext. 299 | investors@loopenergy.com
Laine Yonker | Tel: +1 646.653.7035 | lyonker@edisongroup.com

Business Inquiries:
George Rubin | Tel: +1.604.828.8185 | grubin@loopenergy.com
Europe: Luigi Fusi | Tel: +39.028457.3048 | luigi.fusi@loopenergy.com

Media Inquiries:
Lucas Schmidt | Tel: +1.604.222.3400 Ext. 603 | lucas.schmidt@loopenergy.com

Mobility & Innovation Production s.r.o. Inquiries:
Peter Pecze | Tel: +421 911 423 134| office@mobility-innovation.sk

About Business Wire

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

Feeling ’22: Mary Kay Inc. Announces Awards, Milestones, and Accomplishments From First Half of the Year28.7.2022 20:02:00 EEST | Press release

Mary Kay Inc. is feeling ’22. Throughout the first half of the year, the iconic global entrepreneurship company has furthered its innovations in skin science, continued its social impact efforts, and garnered several prestigious awards for its business and leadership. It’s a thing of beauty—and the nearly 60-year-old brand is just getting started. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220728005228/en/ Mary Kay logo (Graphic: Mary Kay Inc.) 2022 AWARDS & HIGHLIGHTS 30 total awards for business excellence, social impact and sustainability 10 employer awards recognizing Mary Kay as a great place to work and for operational excellence 7 awards for Mary Kay’s c-suite and senior leadership 17 self-released reports reinforcing Mary Kay’s operational and philanthropic efforts supporting its sustainability commitments for its Enriching Lives Today for a Sustainable Tomorrow strategy 3 mentions in annual reports from social i

Asaf Ashkenazi Named CEO of Verimatrix28.7.2022 19:00:00 EEST | Press release

Regulatory News: Verimatrix (Euronext Paris: VMX) (Paris:VMX), today announced the appointment of Asaf Ashkenazi as Chief Executive Officer effective Monday, August 1st, 2022. Amedeo D’Angelo, Chairman and Chief Executive Officer since 2015, remains Executive Chairman of Verimatrix effective the same day. Asaf Ashkenazi joined Verimatrix in 2018 and currently serves as Chief Operating Officer. He will lead the company’s ongoing business model transformation announced last year that focuses on recurring subscription-based revenue sources and new products. “This evolution and reinforcement of the Verimatrix governance structure aligns well with the company’s needs as we further the progression of our business model,” Amedeo D’Angelo said. “I look forward to working closely with Asaf in his newly expanded role as CEO during this strategic development of Verimatrix.” Previously leading the company’s R&D, product, sales and marketing operations, Asaf Ashkenazi will continue to harness his d

GUESS Heads to Granada for the 2022 Fall/Winter Advertising Campaign28.7.2022 18:00:00 EEST | Press release

The new GUESS Fall-Winter 2022 advertising campaign sees the brand off to explore the history-steeped streets of Granada, Spain. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220728005098/en/ GUESS Heads to Granada for the 2022 Fall/Winter Advertising Campaign (Photo: Business Wire) The FW22 campaign is immortalized through the lens of fashion photographer Tatiana Gerusova, under the guidance of GUESS?, Inc.’s Chief Creative Officer, Paul Marciano. The new campaign features a sizzling lineup: German-born, Polish fashion model Kim Dammer, Serbian model Nina Kostić, Spanish model Lidia Santos, Italian model Mario Ermito, and French model Xavier Grey. GUESS Women The campaign showcases an enticing array of GUESS pieces, highlighting must-have accessories and elevated animal and botanical prints. The collection brings a fresh and youthful breeze of contemporary color and style to grey winter days. Against the alluring continent

Innovaderm Bolsters European Presence With Two Newly-Established Operations Hubs (Spain & Poland)28.7.2022 17:00:00 EEST | Press release

Innovaderm announced today that its strategic European expansion initiative has reached a major milestone with the launch of two key centres of operations in Poland and Spain. Biotechnology and pharmaceutical companies can officially partner with the CRO’s team of experts in Europe to manage clinical trials in psoriasis, acne, atopic dermatitis and other dermatology indications. This includes adherence to stringent regulatory requirements, patient recruitment, site selection, clinical monitoring and protocol writing. “To date, we have successfully completed more than 500 clinical trials at 2,900 sites,” says Dave Selkirk, Innovaderm’s Chief Operating Officer. “The presence of two operations hubs in Europe will allow us to go one step further and accelerate the development of promising therapies that have the potential to transform lives. As we look to the future, our goal is to continue supporting innovation in research and the increasing number of patients with skin conditions worldwi

Echosens Partners with World Hepatitis Alliance on World Hepatitis Day, July 28, Urges Importance of Testing and Treatment28.7.2022 16:07:00 EEST | Press release

Echosens, a high-technology company offering liver diagnostic solutions, establishes its support of World Hepatitis Day (WHD), July 28 by partnering with the World Hepatitis Alliance as a bronze sponsor. The commemoration calls for greater awareness of the 357 million people who live with viral hepatitis but are unaware of it. The campaign’s theme “I can’t wait” highlights the need to accelerate the fight against viral hepatitis and the importance of testing and treatment for the real people who need it. “Echosens recognizes that every 30 seconds, someone in the world dies from a hepatitis-related illness, and we join hands with organizations throughout the world to advance increased vigilance around liver health,” says Dominque Legros, Echosens Group CEO. “It is gratifying to see that this year's theme for World Hepatitis Day aligns with our mission for early detection that can result in more effective intervention, treatment and better outcomes.” Viral hepatitis is an inflammation of

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