LPEN announces the first shipment of Loop’s fuel cell system to Slovakia-based company

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 USD 1.9 million in fuel cell shipments from Loop Energy over the next two and a half years.

Under the agreement terms, 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 the total usable energy output of the fuel cell system by up to 30%.


Author: KS

Source: Loop Energy Inc.