LOOP-ENERGY
13.4.2022 12:32:04 CEST | Business Wire | Press release
Loop Energy ™ (TSX: LPEN), a developer and manufacturer of hydrogen fuel cell solutions, announces it has won the tender process to supply Tevva Motors Ltd. ("Tevva"), a British electric and hydrogen truck pioneer, with its T505 (50 kW) Series fuel cell system for Tevva's 7.5 tonne electric truck platform. The partnership grows Loop Energy's European customer base and provides the opportunity for its fuel cells to power numerous vehicles in the coming years.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220413005125/en/
Tevva's tender process began with a single unit order in Q4 2021 to evaluate and test the fuel cell system. Loop Energy's product outperformed multiple offerings from international fuel cell manufacturers. The evaluation process focused on fuel efficiency and reliability, and to ensure seamless integration with Tevva's Fuel Cell Range Extender for its 7.5t truck platform. The truck is designed to provide operators with up to 500 kilometres (310 miles) of all-season service range.
Following testing, Tevva selected Loop Energy as its supplier and placed initial orders for multiple units. It now enters the Scale-Up Phase of Loop Energy's Customer Adoption Cycle. The orders were included in the company's previously announced purchase orders for 2022. Both companies are now working towards finalizing a broader supply agreement.
"By combining Loop Energy's hydrogen fuel cell with our 7.5t battery electric truck platform, Tevva is taking an exciting step towards delivering our zero-emission range-extended trucks," said Tevva Founder & CEO, Asher Bennett. "Our customers are passionate about the cost, performance and emissions of their fleets, so we are highly selective about the energy systems in our trucks. We are delighted to find a technology partner in Loop Energy that can support our ambitious performance expectations and growth plans – that aim to remove 10 million tonnes of global transportation CO2 emissions by 2030."
"Our customers are at the heart of everything we do, so we are delighted to be selected to deliver products that meet Tevva's performance expectations," said Loop Energy President & CEO, Ben Nyland. "The order shows we have the technology and production capabilities to supply to OEMs who are dedicated to manufacturing the next generation of commercial vehicles as we move towards meeting zero-emissions requirements."
About Tevva Motors Ltd.
Tevva is a British electric and hydrogen truck pioneer. Tevva designs and manufactures zero-emission medium-duty trucks with a revolutionary combination of battery electric and hydrogen fuel-cell range extender technology. Tevva trucks are built to revitalize urban freight and logistics – optimising range, cost, driver experience, and environmental impact. Tevva trucks are already on the road and have accrued hundreds of thousands of miles in customer hands. For more information, please visit https://www.tevva.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™ is 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 .
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 opportunity to power number fuel cell vehicles in the future, the ability of Tevva’s trucks to meet specified range targets, the expectation that we will finalize a broader supply agreement with Tevva, the expected delivery by Tevva zero-emission range-extended trucks to the market, the ability of our engines to meet and exceed customer performance expectations and the expectation that Tevva’s performance and growth plans will remove 10 million tonnes of global transportation CO2 emissions by 2030.
Forward-looking information is based on a number of assumptions (including without limitation assumptions with respect the current and future performance of, and growth in demand for, our products and Tevva’s products) 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, our ability and the ability of Tevva to execute on our respective strategies and growth plans, the realization of electrification of transportation, 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 and the factors discussed under "Risk Factors" in the Company's Annual Information Form dated March 23, 2022. Loop disclaims any obligation to update these forward-looking statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220413005125/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Access Advance Welcomes Meta Platforms, Inc. and Alibaba Group to the Video Distribution Patent Pool3.7.2026 01:00:00 CEST | Press release
Access Advance LLC today announced that Meta Platforms, Inc., one of the world's largest distributors of video content across its Facebook, Instagram, Threads, and WhatsApp services, has joined the Video Distribution Patent Pool (VDP Pool) as a Licensee. Meta also joined both the HEVC Advance and VVC Advance pools as a Licensee. Alibaba Group, whose video infrastructure spans a wide range of video-based services across e-commerce, entertainment, and digital media platforms, was also announced as a VDP Pool Licensee this week. Meta and Alibaba joining the VDP Pool further reinforces the program’s market leading position in resolving the licensing issues around the use of modern video codecs, including VP9, AV1, HEVC and VVC, across all the diverse business models of internet video streaming. "A significant U.S.-based company like Meta joining as a Licensee is a milestone moment for the content distribution business and the VDP Pool," said Peter Moller, CEO of Access Advance. "Meta reach
Kioxia Commences Sample Shipments of 10th-Generation BiCS FLASH™ Devices Delivering High Performance, High Capacity and Low Power Consumption3.7.2026 01:00:00 CEST | Press release
Production planned at Fab2 of Kitakami Plant Kioxia Corporation, a world leader in memory solutions, today announced that it has commenced sample shipments of 1Tb (terabit) Triple-Level-Cell (TLC) memory devices utilizing its 10th-generation BiCS FLASH™ 3D flash memory technology.1 These will be primarily integrated into the company’s enterprise and data center SSDs, strengthening Kioxia’s lineup to meet the growing demand for AI storage, which requires higher performance, higher capacity, and lower power consumption. These new products will be manufactured using state-of-the-art equipment at Kioxia’s Kitakami Plant Fab2 facility in Iwate Prefecture, Japan. By leveraging innovative CMOS directly Bonded to Array (CBA) technology2 and On-Pitch Select Gate Drain (OPS) technology,3 both adopted since the 8th-generation BiCS FLASH™, the 10th-generation technology achieves a NAND interface speed of 4.8 Gb/s,4 a 33% improvement over the 8th generation. Bit density has increased by 59% by stac
Bending Spoons S.p.A. announces closing of initial public offering2.7.2026 20:35:00 CEST | Press release
Bending Spoons S.p.A. (“Bending Spoons”), a leading technology company, today announces the closing of its initial public offering of an aggregate of 57,971,015 of its ordinary shares, at an initial public offering price of $29.00 per share. The offering consisted of 34,398,640 shares sold by Bending Spoons and 23,572,375 shares sold by certain selling shareholders (the “Selling Shareholders”). The gross proceeds from the offering to Bending Spoons, before deducting underwriting discounts and commissions and other offering expenses, was approximately $953,917,285.50. Bending Spoons did not receive any proceeds from the sale of shares by the Selling Shareholders. Bending Spoons’ ordinary shares began trading on the Nasdaq Global Select Market on July 1, 2026 under the ticker symbol “BSP”. Goldman Sachs International, J.P. Morgan, and Allen & Company LLC are acting as joint lead book-running managers for the offering. Wells Fargo Securities, BofA Securities, Jefferies, Evercore ISI, BNP
Strategic Partnership Between Record Asset Management and Admicasa2.7.2026 19:00:00 CEST | Press release
RAM Swiss Holding AG announces a strategic partnership with Admicasa Holding AG (Admicasa). RAM Swiss Holding AG is a subsidiary of LSE-listed Record Financial Group (Record) and part of the Record Asset Management (RAM) group of companies. The partnership is a milestone in the growth of Admicasa and marks an important step in the continued expansion of Record’s private markets platform. Subject to regulatory approval, the agreement, signed on 1st July 2026, provides RAM Swiss Holding AG with a 50% participation in the Admicasa Fondsleitung AG, part of Admicasa, and establishes a long-term partnership to develop investment opportunities in the Swiss and Global real estate market with a plan to expand into other asset classes in the medium term. RAM is the European asset management arm of Record, the LSE-listed specialist investment group managing USD 115 billion of assets on behalf of institutional clients worldwide. Record's client base comprises pension funds, foundations, sovereign
IQM Quantum Computers Becomes First European Quantum Computing Company Listed on a Major U.S. Exchange2.7.2026 16:47:00 CEST | Press release
IQM begins trading on Nasdaq Global Select Market under the ticker symbol “IQMX” Company enters next phase of growth as a publicly traded leader in full-stack superconducting quantum computing IQM maintains a strong pro forma cash position of EUR 337 million IQM Quantum Computers (Nasdaq: IQMX) (“IQM”, “IQM Quantum Computers” or the “Company”), a global leader in full-stack superconducting quantum computers, today became a publicly traded company following the completion of its business combination with Real Asset Acquisition Corp. (“RAAQ”). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260702960460/en/ IQM Quantum Computers Becomes First European Quantum Computing Company Listed on a Major U.S. Exchange The company’s American Depositary Shares begin trading today on the Nasdaq Global Select Market under the ticker symbol “IQMX”. The listing marks a major milestone for IQM establishing the company as the first European quan
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom