Loop Energy to Fuel 8-Meter Minibus with Mobility & Innovation a.s. in Slovakia
June 16 2021 - 7:00AM
Business Wire
Loop Energy (TSX: LPEN), a developer and manufacturer of
hydrogen fuel cell-based solutions, announces the order of the
company’s S300 fuel cell module to Slovakia-based company, Mobility
& Innovation a.s. (M&I), to fuel the electric powertrain of
their new 8-meter transit bus as part of the company’s M&I
composite platform. This order is the first under the commercial
agreement signed 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.
“This marks the start of a new era in Slovakian bus
manufacturing,” said János Onódi, Chief Executive Officer and
Co-Owner of Mobility & Innovation a.s. “Combining our
best-in-class lightweight composite body truck and our technology
with Loop Energy, one of the best fuel cell platforms in the world,
is a natural and exciting next step for us.”
M&I is the developer of a lightweight and zero-emission city
bus platform, known for its zero emissions powertrain and industry
leading GVWR (Gross Vehicle Weight Rating) for a zero-emission
transit bus vehicle. Manufactured with laminate composite
materials, M&I buses are lighter than comparable steel
vehicles. The low-curb weight enables greater passenger capacity,
while still meeting even the most stringent of axel load
requirements.
To further meet the need for both power density and
fuel-efficient energy, M&I has selected Loop Energy to provide
their proprietary fuel cell modules. Loop can deliver power and
enable a smaller fuel storage system without compromising the
weight or range of the bus. The fuel cell system will also aid in
improved total cost of ownership for M&I’s customers.
“Mobility & Innovation’s M&I family of vehicles offers a
great fit with both municipal and private bus fleet operators’
requirements. We are very excited about being a part of the
upcoming launch of the hydrogen electric model of the M&I bus,”
said George Rubin, Chief Commercial Officer of Loop Energy.
“Municipal transit is a great example of a vertical market with a
very strong business case for hydrogen electric vehicles and as a
result, we maintain a strong focus on establishing strategic
partnerships with bus OEMs across the key geographic markets.”
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 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 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, which could cause actual results
and events to differ materially from those that are disclosed in 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 final long-form prospectus of the Company
dated February 18, 2021. Loop disclaims any obligation to update
these forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20210616005161/en/
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 | +39.028457.3048 |
luigi.fusi@loopenergy.com
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