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

25.7.2022 12:30:00 CEST | Business Wire

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220725005200/en/

Contact information

About Business Wire

Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982 http://www.businesswire.co.uk

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

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

Dubai Electricity and Water Authority PJSC announces AED 12.08 billion revenue and 3.30 billion net profit in the first half of 202213.8.2022 09:59:00 CEST | Press release

Dubai Electricity and Water Authority PJSC (ISIN: AED001801011) (Symbol: DEWA), the Emirate of Dubai’s exclusive electricity and water services provider, which is listed on the Dubai Financial Market (DFM), today reported its second quarter 2022 financial results, recording quarterly revenue of AED 7.01 bn and net profit of AED 2.61 bn. For the first half of 2022, DEWA’s revenue is AED 12.08 bn and net profit is AED 3.30 bn. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220812005416/en/ Dubai Electricity and Water Authority PJSC announces AED 12.08 billion revenue and 3.30 billion net profit in the first half of 2022 (Photo: AETOSWire) DEWA’s first half revenue increase of 15% to AED 12.08 bn was mainly driven by an increase in energy and water demand in Dubai. During the first half of 2022 energy demand increased by 6.3% and water demand by 6.4% compared to the same period in 2021. Revenue of DEWA’s majority owned subsidia

Mary Kay Inc. Continues Its Support of Women’s Empowerment at the International Women’s Forum Cornerstone Conference in Chile12.8.2022 18:33:00 CEST | Press release

Mary Kay Inc. continues its support of women’s entrepreneurship, empowerment and thought leadership as a sponsor of the 2022 International Women’s Forum (IWF) Cornerstone Conference. Taking place on 17-18 May in Santiago, the Conference convened global decision makers who explored the most pressing challenges to progress on gender equality for the Latin American region. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220812005257/en/ IWF Latinobarómetro MKI Latin American Women Democracy & Society from a Gender Perspective Research (Graphic: Mary Kay Inc.) For the first time ever, IWF commissioned groundbreaking research as part of its annual conference programming with funding by Mary Kay. Conducted by the Latinobarómetro founded by Marta Lagos, this research, titled “Latin American Women: Democracy & Society from a Gender Perspective,” is the first-ever analysis of a quarter of a century (1995-2020) of public opinion and at

Ipsen Completes Acquisition of Epizyme Expanding Its Portfolio in Oncology12.8.2022 17:35:00 CEST | Press release

Regulatory News: Disclaimer: Intended for international media and investor audiences only Ipsen (Euronext: IPN; ADR: IPSEY) today announced the closing of the definitive merger agreement under which Ipsen has acquired Epizyme, Inc. (Epizyme). Pursuant to the transaction, Ipsen acquires all outstanding shares of Epizyme for $1.45 per share plus a contingent value right (CVR) of $1.00 per share. Epizyme now operates as ‘an Ipsen company’ at deal close. As part of the transaction, Ipsen acquires Epizyme’s lead medicine, Tazverik® (tazemetostat), a first-in-class, chemotherapy-free EZH2a inhibitor, which was granted Accelerated Approval by the U.S. Food and Drug Administration (FDA) in 2020. It is currently indicated for adults with relapsed or refractory follicular lymphoma (FL) whose tumors are positive for an EZH2 mutation as detected by an FDA-approved test and who have received at least two prior systemic therapies, and for adult patients with relapsed or refractory follicular lymphom

Budweiser Celebrates 100 Days to The FIFA World Cup™ by Partnering with Messi, Neymar Jr. and Sterling to Drop Hundreds of Prizes For Fans Around the World12.8.2022 13:00:00 CEST | Press release

Tomorrow, Budweiser, an Anheuser-Busch InBev (AB InBev) global brand will “drop” prizes in select destinations in the lead up to the biggest global sporting event. As the Official Beer of the FIFA World Cup, Budweiser is giving fans the once-in-a-lifetime chance to experience the FIFA World Cup in person by dropping hundreds of red prize boxes in major cities that include signed memorabilia, a year’s supply of Budweiser, and the grand prize of a trip to the tournament. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220812005051/en/ Budweiser's QR code (Graphic: Business Wire) Beginning August 13, coordinates leading to prize boxes will be revealed to fans who scanned exclusive Budweiser QR codes. These exclusive QR codes were shared on Budweiser and athlete partner social accounts earlier this week, spurring curiosity and excitement from eager fans. QR codes appeared in locations commemorating Messi, Neymar Jr. and Sterling;

Q4 Inc. Announces Second Quarter 2022 Results12.8.2022 13:00:00 CEST | Press release

Q4 Inc. (TSX:QFOR) (“Q4” or the “Company”), a leading capital markets communications platform, today announced its financial results for the three and six months period ended June 30, 2022. All amounts are expressed in US dollars unless otherwise stated. “The second quarter results show our continued progress against our overall strategy and vision,” said Darrell Heaps, CEO of Q4. “We achieved double digit recurring revenue growth, driving product adoption with higher ARPA expansion growth, as our customers continued to renew subscriptions at record levels and increase their spend with Q4. Given the challenging macro environment, and with our peak investment period behind us, we are accelerating our path to profitability. With a focus on expanding our operating leverage, initiatives are underway to improve sales efficiency and utilize low cost geographies to drive down operating expenses. Combined with our gross margin expansion, these will bring forward our commitment to be cash and E