Loop Energy Records Over 75,000 Kilometers of Operation for Fuel Cell Municipal Bus Fleet in Nanjing, China
June 28 2021 - 7:00AM
Business Wire
Ahead of the company’s upcoming Investor Day, Loop Energy (TSX:
LPEN), a developer and manufacturer of hydrogen fuel cell-based
solutions, reports that the pilot transit bus fleet of Skywell New
Energy Vehicles Group (Skywell) in Nanjing, China has now been
fully operational for 45 days and has already accumulated 75,000
kilometers of in-service operations. Loop’s company management will
share additional details about the fleet deployment and other
business achievements for the Company during its Investor Day on
Tuesday, June 29 at 10:00 a.m. PDT (1:00 p.m. EDT).
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Loop Energy records over 75,000
kilometers of operation for fuel cell municipal bus fleet of
Skywell New Energy Vehicles Group in Nanjing, China (Photo:
Business Wire)
Loop Energy announced in April the fulfillment of a ten-unit
order of the company’s proprietary eFlow® fuel cell modules from
Beijing IN-Power for integration by Skywell. This marked the second
phase milestone of a memorandum of understanding between the Lishui
Economic Development Zone of Nanjing and Beijing IN-Power—Loop
Energy’s China-based joint venture partner supplying the fuel cell
engines.
“As we progress toward large-scale commercial deployment of
hydrogen fuel cell vehicles in China, these impressive operational
results demonstrate Skywell’s expertise, Loop’s product maturity,
and the market’s accelerating adoption of hydrogen fuel cell
technology,” said Ben Nyland, President and Chief Executive Officer
of Loop Energy. “We are very pleased to see the strong results of
our eFlow technology on the road, which continues to validate
Loop’s unique value proposition of greater fuel efficiency, higher
power, and extended range.”
“This pilot fleet deployment has gone exceptionally well and is
setting the stage for continued success between Loop Energy and
IN-Power as we continue to collaborate with Skywell to advance the
fuel cell market in China,” said John Zhang, Founder and President
of IN-Power.
“The Loop fuel cell systems are performing very well, and we are
impressed with the quality of the product,” said Ms. Zou Ran
(Joanna), Director of External Affairs & Brand of Skywell New
Energy Vehicles Group. “The support of the IN-Power and Loop teams
has been critical in achieving the rapid deployment of this pilot
fleet and represents a major step towards reaching the objective of
implementing similar fuel cell solutions across a wide range of our
specialty and commercial vehicles.”
“We are extremely pleased with the successful operation of these
zero-emission hydrogen electric buses,” said Mr. Cuichangong,
Deputy Secretary of Party Work Committee of the Lishui Economic
Development Zone. “This is another meaningful step in establishing
the Lishui Economic Development Zone of Nanjing as a fuel cell and
hydrogen centre of excellence in China and reaffirms our commitment
to providing safe, reliable, energy-efficient transportation
throughout the district.”
To learn more about the Skywell fleet deployment and
performance, register to attend Loop Energy’s Investor Day video
conference call at investors.loopenergy.com.
About Beijing IN-Power Electric Co., Ltd.
Founded in 2004, Beijing IN-Power is a high-tech Sino-foreign
joint venture enterprise, headquartered in the High-tech Industrial
Park, Zhongguancun, of Beijing. Through IN-Power’s two R&D
Centers, and four wholly-owned subsidiaries and twenty-five offices
all over China, the company is engaged in the development,
manufacturing and integration of new energy and power electronics
technology, equipment and engineering services. For more
information, please visit http://en.in-power.net/.
About Skywell New Energy Vehicles Corp.
Skywell New Energy Vehicles Corp., formed in 2011 following the
acquisition of Nanjing Jinlong Bus Manufacturing Co., is a leading
developer and global supplier of electric vehicles. With
headquarters located in the Lishui Airport Economic Development
Zone in Nanjing, China, with production factories located in Wuhan,
Shenzhen and Xianyang, Skywell manufactures and markets an
extensive range of sustainable vehicles from light-duty
automobiles, to medium and heavy-duty buses, commercial and
specialty fleet trucks. The company also operates buses in the
Lishui district of China. www.skywellcorp.com
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 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/20210628005227/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
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