LOOP/DRABPOL

Loop Energy™ (TSX: LPEN), a leading hydrogen fuel cell manufacturer, and Drabpol, Loop Energy’s value-added distribution partner in Poland, are pleased to announce Polish electric bus manufacturer ARP E-Vehicles has selected Loop Energy’s T605 fuel cell system for its new hydrogen electric bus platform.

This announcement marks Loop Energy’s third win with European bus manufacturers, and the 6^th time globally. With this selection, Loop Energy is now a fuel cell provider of choice to fuel cell electric bus manufacturers addressing what is estimated to be an up to 12,000 units per year serviceable market opportunity across Korea, Australia, and Europe.

Under the agreement, Loop Energy’s 60 kW fuel cell system will be integrated into ARP E-Vehicles’ new 12 m hydrogen-electric bus designed for municipal transit service market in Europe. Anticipated to take place in Q4 2023, delivery of the first T605 60 kW fuel cell unit to ARP E-Vehicles will constitute the first deployment of Loop Energy’s new product line designed for rooftop mounting, thus specifically catering to the European bus market.

Local support was an important requirement for ARP E-Vehicles in the tender process, and Loop Energy’s partnership with Drabpol in Poland was key to ARP E-Vehicles selection. The T605 system also integrates Loop Energy’s eFlow™ technology to offer industry-leading fuel efficiency, another leading factor in ARP’s requirements. ARP E-Vehicles expects completion of its first hydrogen-electric bus in the fourth quarter of 2023, and for commercial sales to begin in 2024.

Headquartered in Poland, Drabpol offers high-level technical support, design, implementation and market development as a value added reseller for numerous global brands in Poland, and is well positioned as a value-added supplier within dominant Polish bus manufacturing sector that supplies a significant percentage of Europe’s bus market. Drabpol and Loop Energy entered into the value-added distribution agreement for Poland in 2022.

Loop Energy Vice President of Sales and Business Development EMEAR, Luigi Fusi said, “We are excited that ARP E-Vehicles has selected Loop Energy, further validating our products in Europe’s significant bus sector. We are pleased to be working with Drabpol to facilitate our market development in Poland – the hub for bus manufacturing in Europe. This announcement is yet another excellent example of Loop Energy’s partnerships enabling our expansion into different markets around the world.”

“In our meetings with ARP E-Vehicles, it was evident that the customer recognized Loop Energy offers them an advantage in deployment, operation, ease of integration, durability and reliability, and that last part is particularly important since the tender stipulations in this part of Europe includes provisions for long-term operation,” said Michal Sitek, HQ Managing Director and Chief of R&D at Drabpol. “Combined with Drabpol’s educated and highly trained engineers to provide direct support, we are able to create a compelling product offering for ARP E-Vehicles.”

“By 2028, bus manufacturers must fulfill the obligation within the EU for 30% of public transport to be zero-emissions. With Poland being the largest European producer of electric buses in Europe, we will see significant growth in the coming years,” said Piotr Śladowski, President of the Board at ARP E-Vehicles. “Working with Drabpol and Loop Energy will allow us to secure a technological advantage and scale production capacity of hydrogen-electric buses.”

About Drabpol

DRABPOL is a company with 40 years of tradition and competence built through patience and consistent development. Over the years Drabpol has adapted to the dynamically changing business environment, and the basis for this was business partners who are leaders in their segments. This mutually beneficial cooperation continues to this day with partners such as Continental in mulitiplex systems and displays, Konvekta in air conditioners or Dana TM4 in electric drives and controllers.

Drabpol delivers “high-tech” solutions in the scope of passive safety for land and air. Drabpol holds a representative/distributor/dealer status of a number of international brands, i.e. Continental VDO, Konvekta, Curtiss-Wright, Euroswitch, MiX Telematics, Honeywell, Universal, L-3 Harris and Garmin. Operating as a Value Added Reseller, the company adds technical advisory, aftersales support, training and technical & technological support in implementations to the product sales and servicing. Drabpol is a reliable business partner on the world market, which is evidenced by the company’s own Code of Ethics and international TRACE certificate.

About ARP E-Vehicles

ARP E-Vehicles is a bus manufacturer based in Poland. ARP E-Vehicles created the first Polish zero-emission bus with innovative placement of the battery and the dimensions of the vehicle to optimize maneuverability, improve traction parameters and drive safety. The reduced vehicle weight and lightweight design have increased the range of E-bus by as much as 10%! LTO cells provide 90% charge after just 15 minutes. The lightweight stainless steel frame and polyester laminates ensure the safety of passengers and drivers. The synchronous motor with permanent magnets guarantees reliability, better performance and increased range of the vehicle. The vehicle is adapted to carry disabled people.

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 Energy’s products feature the company’s proprietary eFlow™ technology in the fuel cell stack’s bipolar plates. eFlow is designed to enable commercial customers to achieve performance maximization and cost minimization. Loop Energy 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 Energy is driving towards a zero-emissions future, visit www.loopenergy.com.

Forward Looking Warning

This press release contains forward-looking information within the meaning of applicable securities legislation, which reflect management’s current expectations and projections regarding future events. Particularly, statements regarding the Company’s expectations of future results, performance, achievements, prospects or opportunities or the markets in which we operate is forward-looking information, including without limitation, the ability of the Company’s eFlow™ technology to maintain uniform operation over time, the impact of such technology on fuel cell durability, purchase orders, cost reduction, profitability and revenue targets; our future growth prospects and business outlook including without limitation the expected demand for our products, the allocation of resources and funds, the expected timeline for profitability, the planned growth of our customer base and the expected growth of our operations globally. Forward-looking information is based on a number of assumptions (including without limitation assumptions with respect the current and future performance of the Company’s products, growth in demand for the Company’s products, the Company’s ability to execute on its strategy, achieve its targets and progress existing and future customers through the Customer Adoption Cycle in a timely way, 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 realization of electrification of transportation and hydrogen adoption rates, the elimination of diesel fuel and ongoing government support of such developments, the expected growth in demand for fuel cells for the commercial transportation market, our ability to obtain future patent grants for our proprietary technology and the effectiveness of current and future patents in protecting our technology and the factors discussed under “Risk Factors” in the Company’s Annual Information Form dated March 23, 2022. Loop Energy disclaims any obligation to update these forward-looking statements.

Source: Loop Energy Inc.

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