Loop Energy Announces First Shipment of Complete Fuel Cell System to Mobility & Innovation a.s. in Slovakia for Testing of Hydrogen-Electric Minibuses
Loop Energy (TSX: LPEN), a developer and manufacturer of hydrogen fuel cell-based solutions, announces the first shipment of Loop’s complete fuel cell system to Slovakia-based Mobility & Innovation a.s. (M&I). This shipment is the first under the previously announced commercial agreement between the parties, which anticipates over $1.9 million USD in fuel cell shipments from Loop Energy over the next two and a half years.
Under the terms of the agreement, Loop is to provide M&I with a complete fuel cell system to implement into M&I’s 8-meter transit bus. In addition to Loop’s high efficiency S300 fuel cell module, the solution includes a fully integrated cooling system designed to repurpose some of the thermal energy produced by an operating hydrogen fuel cell for bus heating thus increasing total usable energy output of the fuel cell system by up to 30%.
“As communities across the globe focus their attention on replacing diesel with zero emission alternatives, we are seeing a rapid increase in demand for hydrogen-powered mass transit vehicles. We are looking forward to working closely with M&I in providing customers across Europe with affordable, practical, and sustainable solutions for their municipal transit needs.” said George Rubin, Chief Commercial Officer of Loop Energy.
About Mobility & Innovation a.s.
Mobility & Innovation a.s. is a Slovakia-based 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™ 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210920005119/en/
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
Loop Energy EMEA Contact: Luigi Fusi | Tel: +39.028457.3048 | luigi.fusi@loopenergy.com
About Business Wire
Business Wire(c) 2018 Business Wire, Inc., All rights reserved.
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
Ricardo Wins Riyadh Air Quality Contract21.10.2021 01:01:00 CEST | Press release
World-class environmental, engineering and strategic consulting company Ricardo will be continuing to provide key air quality monitoring and data analysis in the Middle East with a new three-year agreement. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211020005973/en/ Ricardo signs Riyadh Air Quality Contract (Photo: Business Wire) Working in collaboration with air monitoring equipment supplier, Envirozone LLC, Ricardo will quality assure, audit and ratify data from a world class monitoring network in Saudi Arabia’s capital for the Royal Commission for Riyadh City (RCRC). Ricardo’s Air Quality and Environment Practice Director, Sean Christiansen said: “This new contract cements Ricardo’s business in Saudi Arabia; continuing to work with Envirozone LLC on behalf of the Royal Commission for Riyadh City, our teams of experts will be delivering a leading edge, sustainable solution in support of the city’s ambitions for continu
Conviva Announces Streaming Platform Expansion Solving Audience Measurement Challenges Globally20.10.2021 20:00:00 CEST | Press release
Conviva, the continuous measurement platform for streaming media, today announces the availability of its technology and real-time data to enable end-to-end advertising audience measurement for its publisher customers and their ecosystem partners. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211020005928/en/ Conviva's streaming platform expansion delivers purpose-built technology and real-time data to enable end-to-end advertising audience measurement for publisher customers and their ecosystem partners. (Grapic: Business Wire) Conviva’s global streaming audience measurement technology promises to deliver unique, innovative, and industry-changing solutions based on: Session-level and census-level measurement Antiquated third-party web technologies like beacons, logs, pixels or outdated and inaccurate panel methodologies are incapable of dealing with today’s complex device fragmentation. Conviva’s Stream Sensor™ provides co
Developing Telecoms: A Green Road to a Greener Future: MTN at BWS 202120.10.2021 18:00:00 CEST | Press release
Developing Telecoms reported that lowering carbon emissions has become an increasing priority for the largest players in the telecoms sector due to the role that ICT can play in helping other industries decarbonizes. At the Better World Summit for Green ICT held at Huawei’s Innovation Lab in Dubai, various speakers explored how the ICT industry will be able to facilitate a greener society – and why this was particularly important in emerging markets regions, including Africa. MTN Group executive, Chief Procurement Officer Dirk Karl took the stage to discuss how operators had a role to play in emerging markets. Karl described this beyond simply the purpose of business – operators have responsibility to enable everyone the benefits of a modern, connected life, and MTN is still deploying and densifying networks in Africa. “Our work is not just about flourishing the business – it has a purpose, and this was proven under COVID, of being system-relevant to our wider economies in order to con
Verimatrix Announces Third Quarter 2021 Revenue20.10.2021 17:45:00 CEST | Press release
Regulatory News: Verimatrix (Paris:VMX) today announced its revenue for the third quarter ended September 30, 2021. Amedeo D’Angelo, Chairman and CEO, commented: “During the third quarter, we executed the implementation of our accelerated shift toward a subscription-based business, including through SaaS offerings. It included further developing the go-to-market strategy as well as reviewing organization and expenses to ensure we are spending and investing in alignment with our strategy. At the same time, we continue to expand our cloud-based offerings, as illustrated with the release of the Verimatrix Multi-DRM Core service earlier in 2021. Verimatrix is experiencing continuous growth of its SaaS business, as illustrated with the sequential growth of the ARR, even though products and offerings have not yet been changed to be subscription-only and “cloud first.” This growth should be further supported by new SaaS products going live throughout 2022. Additionally, the shift in our contr
NetApp Simplifies and Speeds Digital Transformation for Customers Through Deep, Industry-Leading Public Cloud Relationships20.10.2021 17:00:00 CEST | Press release
NetApp (NASDAQ: NTAP) a global, cloud-led, data-centric software company, today announced continued growth and momentum helping organizations unlock the best of cloud at less cost, through its collaboration with the world’s three largest public clouds. NetApp’s expansion in the cloud has been driven by customers and supported by these partnerships, accelerating NetApp’s public cloud services’ customer and financial growth by bringing its leading CloudOps and ITOps solutions to existing and new addressable customers. Furthering its investment in the cloud, NetApp acquired Data Mechanics in early fiscal year (FY)’22, and this month announced the intent to acquire CloudCheckr to bolster the Spot by NetApp portfolio’s existing continuous cloud optimization capabilities. This growth, driven by NetApp’s ONTAP data management software, which provides high-performance shared storage for file and block workloads, has propelled the native integration of NetApp’s cloud file services into each of
NetApp Expands Hybrid Cloud Solutions Portfolio to Unlock Best of Cloud20.10.2021 17:00:00 CEST | Press release
Today at INSIGHT 2021, NetApp® (NASDAQ: NTAP), a global cloud-led, data-centric software company, announced new additions and enhanced capabilities across its hybrid cloud portfolio to help organizations modernize their IT infrastructures and accelerate digital transformation. Delivering new secure ways to consume and operate data services on-premises and in the cloud, NetApp hybrid cloud solutions make it simpler for enterprise customers to put their data to work — wherever and whenever they need it. As the only solutions provider with native integrations for the world’s largest public clouds, NetApp’s industry leading ONTAP® software continues to serve as the foundation for hybrid cloud. With the latest release of ONTAP, NetApp is introducing enhanced protection against ransomware, expanded data management capabilities, and NVMe/TCP support for accelerated performance. The company is also announcing new digital wallet capabilities for NetApp Cloud Manager and enhanced data services f
SkyHive Raises $40M Series B to Reskill Workforces and Advance the Digital Labor Economy20.10.2021 16:00:00 CEST | Press release
SkyHive (the “Company”), the SaaS platform providing workforce transformation and labor market development guidance, today announced a $40 million Series B investment round led by Eldridge, with participation from other investors Allegis Cyber, Accenture Ventures, Workday Ventures, and the Partnership Fund For New York City. Recently recognized by The World Economic Forum as a 2021 Technology Pioneer, SkyHive is solving dislocation in modern labor economics and human capital management using its proprietary Quantum Labor Analysis (QLA) methodology, which is active in 90 countries and 400,000 unique locations worldwide. QLA combines economic theory, workforce modelling, human analytics, and data science to provide real-time insights on workforces and external labor markets. The platform also identifies high-value emerging skillsets and actively helps organizations reskill their professionals. “Reskilling the world at scale and with pace is only achieved by successfully blending art and