Business Wire

Loop Energy Enters Agreement with METTEM-M to Build Hydrogen Electric Powertrains for Commercial Vehicles in Russia; Transit Bus on Display at COMTRANS 2021

Share

Loop Energy (TSX: LPEN), a developer and manufacturer of hydrogen fuel cell-based solutions, announces their partnership with METTEM-M Ltd., a developer of vehicle control systems and systems integrator, to provide hydrogen electric powertrain solutions to commercial vehicle OEMs across Russia, the Commonwealth of Independent States (CIS), and greater Europe. The companies’ first joint project — a hydrogen electric transit bus for GAZ Group, a leading global commercial vehicle OEM provider — is presently on display at the International Commercial Vehicle Show 2021 (COMTRANS) in Moscow, Russia. The 12-meter passenger bus vehicle is expected to enter regular city transport service in Moscow, in early 2022, after completing customary road testing and vehicle level certification requirements.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210908005445/en/

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

(Photo: Business Wire)

Under this agreement, METTEM will use Loop’s eFlow™ powered fuel cell modules to develop and supply hydrogen electric subsystems, powertrains, and complete vehicle solutions for a variety of applications including transit buses, logistics vehicles, and rail transport.

The hydrogen electric transit bus, currently showcased by its OEM at COMTRANS 2021, marks the first commercial achievement between Loop Energy and METTEM. The vehicle’s hydrogen electric control system was developed by METTEM under the contract with GAZ Group — a leading manufacturer of light commercial and medium-duty vehicles, buses, powertrain and automotive components, and special-use vehicles headquartered in Russia. The solution is using GAZ Group’s existing battery electric passenger bus platform, Loop Energy’s high efficiency fuel cell modules, and METTEM’s fully integrated hydrogen electric fuel cell system.

“Partnering with Loop was a natural next step for METTEM as we look to supply our OEM customers with mobility solutions that meet the growing demand in Russia and beyond for electric and hydrogen fuel cell vehicles over the next decade,” said Jan Drewitz, CEO of METTEM. “With Loop’s innovative fuel cell modules and our extensive powertrain and vehicle integration expertise, we foresee hydrogen electric solutions, and the benefits of extended range, peak power performance, and fuel efficiency, becoming the gold standard in the commercial vehicle market.”

“Collaborating with METTEM is a key milestone for both the adoption of hydrogen electric solutions for commercial vehicles, as well as expanding Loop’s footprint in both Russian and greater European markets,” said George Rubin, Chief Commercial Officer of Loop Energy. “METTEM’s market knowledge and technical expertise bring an invaluable contribution to this partnership. We are seeing a steady demand for clean energy alternatives across the globe and are eager to work with a leading player in the commercial vehicle industry to provide sustainable solutions.”

About METTEM

METTEM-M, Ltd. is a company of the METTEM TRANSPORT Group. It is also a Russian enterprise that develops, integrates, and produces in series digital E/E control systems, onboard equipment for navigation and other purposes, as well as solutions for both vehicle manufacturers (buses, trucks, special vehicles, passenger cars) and transport operators. METTEM TRANSPORT Group is focused extremely on innovations to improve its products continuously and release new items. Cooperation with Loop Energy will make it possible to implement projects in a trendy area of hydrogen transportation. Applying its experience and competences, METTEM-M is designing hydrogen vehicles as effective and safe for use as possible. https://mettem-m.ru/

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™ was 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.

This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflect management’s current expectations and projections regarding future events. Forward-looking information is based on a number of assumptions 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 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

Loop Energy Media Contact: Ashley Eisner | Tel: +1.212.697.2600 | aeisner@gscommunications.com
Loop Energy Business Contact: George Rubin | Tel: +1.604.828.8185 | grubin@loopenergy.com
METTEM Business Contact: Yuri Yanovich | Tel: +7.916.412.18.33 | yv.yanovich@mettem-m.ru

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

Element Six Launches DNV-B14 a New Grade of Diamond for Quantum Technology Applications21.9.2021 02:01:00 EEST | Press release

Element Six, part of the De Beers Group, has launched DNV-B14™, its newest general-purpose chemical vapour deposition (CVD) quantum-grade diamond, an ideal material for quantum technologies such as magnetic field devices, RF sensors, solid-state gyroscopes and room temperature masers. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210920005612/en/ Element Six Launches DNV-B14 a New Grade of Diamond for Quantum Technology Applications (Graphic: Business Wire) The latest solution in Element Six’s DNV™ Series, DNV-B14™ expands the company’s range of advanced materials for emerging quantum technologies. Diamond containing nitrogen-vacancy (NV) centres offers researchers a unique solid-state platform with spin qubits that can be initialised and read out at room temperature, with long qubit lifetimes. These properties stem from diamond’s unique structure and strong bonds. DNV-B14™ is designed to provide the end-user with a uniform

Bentley Systems Announces Finalists for the 2021 Going Digital Awards in Infrastructure20.9.2021 23:02:00 EEST | Press release

Bentley Systems, Incorporated (Nasdaq:BSY), the infrastructure engineering software company, today announced the finalists for the 2021 Going Digital Awards in Infrastructure. The annual awards program honors the extraordinary work of Bentley software users advancing infrastructure design, construction, and operations throughout the world. Sixteen independent jury panels selected the 57 finalists from nearly 300 nominations submitted by more than 230 organizations from 45 countries encompassing 19 categories. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210920005860/en/ Join us for the Year in Infrastructure series of events and Going Digital Awards in Infrastructure highlighting advancements in going digital. (Graphic: Business Wire) Winners of the student Future Infrastructure Star Challenge will also be announced. This challenge provided students from around the world a platform to develop a concept or an idea of how th

New Conviva Data Reveals How Consumers Discover Streaming Content – And the Implications for Publishers20.9.2021 19:55:00 EEST | Press release

Conviva, the intelligence cloud for streaming media, released its State of Streaming: Content Discovery report for 2021 today, revealing how consumers find new streaming content to watch. The report showed content streamed for the first time was discovered in four ways: word of mouth (59%), advertising (52%), social media (49%) and streaming service recommendations (43%). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210920005788/en/ Conviva's State of Streaming Content Discovery (Graphic: Business Wire) “Given the incredible amount of streaming content available today, connecting viewers with content that not only piques their interest, but also resonates enough to keep them coming back for more is a significant challenge for publishers looking to identify and engage new audiences,” said Keith Zubchevich, CEO, Conviva. “By leveraging advertising, recommendations and social media to curate and promote their offerings, publi

Verimatrix To Debut New App Monitoring SaaS Service at Money 20/20 Europe20.9.2021 18:45:00 EEST | Press release

Regulatory News: Verimatrix, (Euronext Paris: VMX) (Paris:VMX), the leader in powering the modern connected world with people-centered security, today announced it’s scheduled to unveil a new mobile application monitoring service, an extension of its award-winning App Shield and Code Protection solutions, during this week’s Money 20/20 Europe in-person event. Taking place September 21-23 in booth D140 at RAI Amsterdam, Verimatrix’s launch of its security monitoring service for mobile applications can assist both new and existing customers in gaining the intelligence and protections needed for mission-critical apps. The new monitoring solution is available for both Verimatrix App Shield and Verimatrix Code Protection. App Shield is a no-code SaaS service that brings unprecedented cybersecurity protection to any Android or iOS app. Developers simply upload their app to the Verimatrix App Shield platform and receive a secured version that’s ready to publish to an app store, a critical las

Citi, IFC and Global Bank Partner to Finance Women’s Economic Empowerment in Panama20.9.2021 17:08:00 EEST | Press release

Citi, Global Bank and the International Finance Corporation (IFC) have partnered to provide more mortgages and Small Medium Enterprise (SME) business loans to women. The joint initiative offers a first-of-its-kind co-lending transaction of a $90 million loan ($20 million funded by Citi for three years and $70 million funded by IFC for five years) to Global Bank. The proceeds from this loan will be used for either Low Income Housing Mortgages–Hipoteca Preferencial–for women as heads of household or for women-owned and-or women-led enterprises. In addition, Global Bank will also partner with IFC Advisory Services to further enhance and develop gender-focused products and services in Panama. “It’s an honor to support groups and institutions that seek to broaden women empowerment across the region as well as to place women at the center of Panama’s recovery from the coronavirus pandemic,” said Marcelo Gorrini, Caribbean and Central America Cluster Head and Panama Citi Country Officer. “Thi

EMGA Advises Landmark US$300M Debt Raise for BTG Pactual With DFC20.9.2021 17:00:00 EEST | Press release

Emerging Markets Global Advisory Limited (EMGA), the niche investment bank focused on emerging markets, announces today a landmark Senior Debt capital raise transaction that will allow BTG Pactual to expand its small and medium-sized enterprise (SME) activities in Brazil. The US$300 million debt facility was provided by DFC and the transaction is the largest Senior Debt facility ever advised by EMGA and follows on from a US$140 million transaction completed last year with DEG and Proparco, two European development institutions. The operation comes at a time when banks world-wide are exploring new cross-border funding options to further deliver on their support to businesses affected by the COVID-19 pandemic. Commenting on the transaction, BTG Pactual’s Caio Zanette said, “BTG Pactual is very pleased with the support of EMGA on pursuing this landmark transaction that will benefit our SME activities in Brazil. We continue to develop all our activities and the funding provided by DFC will

WilsonHCG Recognized as a “Leader” in Contingent Workforce Solutions and MSP by NelsonHall20.9.2021 17:00:00 EEST | Press release

WilsonHCG has been identified as a “Leader” in NelsonHall’s 2021 NEAT Vendor Evaluation and Assessment Tool for Managed Service Program (MSP) and Contingent Workforce Services (CWS) providers. “Being ranked as a Leader for our contingent workforce services is a testament to listening to our clients’ needs and differentiating by providing a high-touch experience that’s often overlooked in this space. The team is committed to exceptional service and it shows,” said John Wilson, CEO, WilsonHCG. “Organizations are looking for a variety of talent solutions in this challenging market and we’re proud to offer contingent workforce services that give them access to the talent they need to succeed.” Nikki Edwards, Principal Research Analyst with NelsonHall’s HR Technology & Services practice, added, “WilsonHCG applies a high-touch and personalized approach to its range of next-generation contingent workforce solutions (with a broad range of service expertise and use of cutting-edge tech), enabli

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