Loop Energy Enters Joint Market Development Agreement With Técnicas Reunidas to Accelerate the Commercialization of Hydrogen-Powered Vehicles
August 05 2021 - 7:00AM
Business Wire
Loop Energy (TSX:LPEN),
a developer and manufacturer of hydrogen fuel cell-based solutions,
announces their joint market development agreement with
Técnicas Reunidas (TR) – a
global provider of services for investors in hydrogen
infrastructure based in Madrid, Spain. Under this agreement, both
parties will aim to secure future opportunities that require both
TR’s hydrogen know-how and Loop Energy’s fuel cell
technology.
The initial scope of this joint market agreement focuses on
providing hydrogen-based solutions to several key vertical markets:
transport agencies, truck, transit and coach bus service fleets,
materials handling, warehouse and port logistics including drayage,
urban delivery services and stationary power applications. With the
assistance of TR’s on-site production and supply equipment,
creating hydrogen both via water electrolysis and steam reforming
of natural gas, biogas or bioethanol, Loop will be able to provide
more convenient and cost-effective hydrogen solutions to their
global customers. Loop and TR are also exploring partnership
opportunities to develop solutions that leverage both Loop’s
proprietary eFlow™ fuel cell technology and TR’s know-how and
experience in hydrogen technologies.
“We are ready to embark on this partnership with Loop Energy and
strongly believe our experience in hydrogen technologies, paired
with Loop’s proprietary eFlow technology, will aid in building a
robust hydrogen electric vehicle market across North America and
globally by simplifying the path to FCEV adoption,” said Miguel
Angel Vega of Técnicas Reunidas.
This agreement further expands Loop Energy’s Total Customer Care
initiative, aimed at combining a portfolio of industry leading
ecosystem of service providers and suppliers that customers can
trust in their hydrogen technology adoption and integration. This
marks another step towards providing a solution for OEMs to
accelerate time-to-market and reduce engineering bottlenecks.
“Our collaboration with Técnicas Reunidas is a major milestone
in widening the hydrogen ecosystem and supporting our OEM customers
in the market and sales channel development process,” said George
Rubin, Chief Commercial Officer of Loop Energy. “This is yet
another progressive chapter in the global acceleration of hydrogen
adoption and we are excited to provide our clients with access to a
broad range of the best-in-class hydrogen technology available
through partnerships like these.”
About Técnicas Reunidas Técnicas Reunidas (TR) is a
company specialized in the design and management of the execution
of industrial plant projects throughout the world. Throughout its
almost 60-year history, Técnicas Reunidas has designed and managed
the construction of more than 1,000 industrial plants in over 50
countries and specialize in the following business areas: refining
& petrochemical, upstream & natural gas and power &
water. Técnicas Reunidas helps its customers develop their projects
from the initial phase to their full execution and aims to minimize
development costs, optimize the customer’s business model, ensure
project financing and preserve maximum environmental commitment.
www.tecnicasreunidas.es
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/20210805005065/en/
Loop Energy Business: George Rubin | +1.604.828.8185 |
grubin@loopenergy.com Loop Energy EMEA: Luigi Fusi |
+39.028457.3048 | luigi.fusi@loopenergy.com Loop Energy Media:
Ashley Eisner | +1.212.697.2600 | aeisner@gscommunications.com
Técnicas Reunidas Technical: Miguel Angel Vega |
mavega@tecnicasreunidas.es Técnicas Reunidas Media: María Rodríguez
Sancho | mrsancho@tecnicasreunidas.es Técnicas Reunidas North
America: José Lopez-Gallego | +1.714.227.5481 |
jlog@versallis.com
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