LOOP-ENERGY
25.7.2022 12:32:07 CEST | Business Wire | Press release
Loop Energy TM (TSX: LPEN) announces Mobility & Innovation (M&I) has purchased an additional 10 fuel cell systems to meet the growing demand for its hydrogen-electric city bus. The order sees Loop Energy progress to the Scale-Up Phase with a second bus manufacturer.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220725005200/en/
Upon delivery of the additional S300 (30 kW) fuel cell systems, Loop Energy will aim to support M&I in increasing the production of its 8-metre city bus and monitor operational performance. Previously, the two companies partnered to develop the prototype bus, complete field testing and achieve EU homologation.
Following launch in March 2022, M&I showcased the bus across various European markets. Throughout the tour, the bus demonstrated increased fuel efficiency, allowing it to achieve further range with less onboard fuel storage. This has been a standout feature for fleet operators looking for a zero-emissions solution to electrify transit bus fleets.
“We now have the opportunity to deliver our hydrogen-electric city bus to some of Europe’s largest and most progressive markets for hydrogen-electric vehicles,” said Mobility & Innovation Co-Owner and CEO, János Onódi. “We offer a solution to decarbonizing urban transit, and with Loop Energy’s technology and support, we hope to deploy our buses in cities around Europe in the near future.”
“Mobility & Innovation has made tremendous inroads into the market over the last few months, and we are proud to be their fuel cell partner as they continue their journey,” said Loop Energy Chief Commercial Officer, George Rubin. “The accelerated growth in order volume for our fuel cell engines is a direct reflection of rapid expansion of demand for hydrogen-electric vehicles in our core markets.”
M&I’s progression to the Scale-Up Phase builds upon Loop Energy’s recent success of entering the Full Production Phase with Tevva Motors after finalizing a multi-year fuel cell supply agreement with delivery commitments in excess of US$12 million. Due to the accelerated adoption of its technology and the strong growth of its customers, Loop Energy will provide an update on its purchase order guidance during its Q2 2022 financial results on August 4. For dial-in details, visit: https://loopenergy.com/news/q2-2022-earnings-results-call/ .
About Mobility & Innovation Production s.r.o.
Mobility & Innovation Production s. r. o. is a Slovakian company responsible for the development of composite lightweight, zero-emission city bus platform. M&I’s platform is known for its hydrogen electric powertrain and industry leading GVWR (Gross Vehicle Weight Rating) for a zero-emission transit bus vehicle, while its low curb weight enables greater passenger capacity while still meeting even the most stringent axel load requirements. For more information, please visit http://mobility-inovation.sk/hu.html .
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 expected fuel efficiency and performance of the Company’s products and the Company’s expectation of future orders for its products from Mobility & Innovation. 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 and growth in demand for the Company’s products from Mobility & Innovation and other customers) 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 ability of the Company to execute on its strategy, progress existing and future customers through the Customer Adoption Cycle in a timely way, 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 30, 2021. Loop disclaims any obligation to update these forward-looking statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220725005200/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
Follow-on Order Brings Orders from INNIO Data Center Customer to 1.72 GW, Further Strengthening INNIO’s Data Center Backlog and Revenue Visibility22.10.2026 14:30:00 CEST | Press release
Customer also signs long-term full maintenance agreement for first 500 MW, expanding INNIO’s recurring services base. INNIO N.V. (Nasdaq: INIO) today announced a 620 megawatt (MW) follow-on order from a leading developer and operator of mega-scale data center campuses in the U.S. Together with the customer’s 1.1 gigawatt (GW) order announced in July 2026, the new order brings cumulative orders from the customer to approximately 1.72 GW, further strengthening INNIO’s order backlog and visibility into future revenues. “This follow-on order, coming just months after the customer’s initial 1.1 GW order, underscores the strength of customer demand and continued confidence in INNIO. Our containerized Jenbacher solutions deliver what data centers need most: fast deployment, high power density, fuel efficiency, and the performance to support demanding AI workloads,” said Dr. Olaf Berlien, President and CEO of INNIO. “Repeat orders of this scale, combined with long-term service agreements, stre
European Public Transport Budgets Require 36% Annual Spending Increase by 2035, Arthur D. Little and Polis Research Finds22.10.2026 14:30:00 CEST | Press release
Europe’s public transport sector currently accounts for €130 billion in annual expenditure, yet faces a growing funding gap as demand rises and environmental and resilience requirements intensify. New research from Arthur D. Little (ADL)’s Future of Mobility Lab and POLIS, a network of European cities and regions collaborating to develop innovative and sustainable urban transport solutions, outlines the scale of this financial shortfall and provides radical recommendations for overcoming it. Based on research with senior transport and policymakers, in-depth literature reviews, and real-world data from Paris, London, Amsterdam, Berlin and New York, the report estimates that additional spending will require a 36% increase in overall annual expenditure from now to 2035 onwards. This is made up of a 13% rise in operating expenditure (OPEX) and 56% in capital expenditure (CAPEX), driven by: Hidden debt caused by historic underinvestment in existing infrastructure (6% of additional funding n
Hitachi Report Examines Readiness for Physical AI in Industrial Companies22.10.2026 14:00:00 CEST | Press release
AI adoption progress, trends, and emerging priorities suggest opportunities and challenges for physical AI acceleration Hitachi, Ltd. (TSE:6501, "Hitachi") announced the release of its physical AI survey-based research report, Beyond the Pilot: Industry’s Physical AI Progression. The company surveyed over 200 global decision-makers from organizations operating in mission-critical industrial sectors including energy, manufacturing, transportation and logistics. The report explores how businesses today adopt AI in industrial use-cases, where they see the greatest value, and what it will take to scale toward physical AI deployments. Readers will gain practical insights on how to accelerate AI adoption while improving competitiveness, productivity, and long-term business performance. After successfully transforming knowledge work, AI is now entering the physical systems that form society’s backbone: energy, industrial, and mobility infrastructure, to name a few. Given these systems’ reliab
Datavault AI Signs Non-Binding Letter of Intent to Acquire a 19.9% Equity Stake in DataMEDS AI in Consideration of an Expanded Technology License22.10.2026 14:00:00 CEST | Press release
Expanded healthcare platform would bring together patient-controlled data tokenization, biometric medication verification, and automated delivery technologies Datavault AI Inc. (“Datavault AI” or the “Company”) (Nasdaq: DVLT), an Artificial Intelligence Platform (“AIP”) company providing data monetization, credentialing, and real-world asset (“RWA”) tokenization, today announced that it has entered into a non-binding letter of intent (“LOI”) to acquire a 19.9% equity interest in DataMEDS AI, Inc. (NASDAQ: MEDS) (“DataMEDS”) in consideration of an expansion of its existing technology license with DataMEDS. The proposed transaction is subject to completion of due diligence and negotiation of definitive agreements and will be subject to customary closing conditions for a transaction of this nature. The proposed transaction is structured to provide Datavault AI with the opportunity to obtain an equity interest in DataMEDS while preserving ownership of its underlying intellectual property.
Megaport Expands AWS Connectivity With AWS Interconnect to Simplify How Customers Connect Their Infrastructure22.10.2026 14:00:00 CEST | Press release
As one of a select group of providers, Megaport adds AWS Interconnect to its complete suite of AWS connectivity options. Megaport Limited (ASX: MP1) (“Megaport”), a leading global automated infrastructure platform, today announced support for AWS Interconnect, a new managed connection model from Amazon Web Services (AWS) designed to simplify how businesses connect their infrastructure to AWS. AWS Interconnect from Megaport gives enterprises and AI infrastructure providers an automated connectivity option as their requirements grow beyond traditional AWS Hosted Connections. MACsec encryption and four redundant links across two sites will be included as part of the service at general availability, with customers able to select connection speeds from 1 Gbps to 100 Gbps. Customers can start an order for AWS Interconnect - last mile from either the Megaport Portal or AWS Management Console and complete it from the other. AWS and Megaport then automate the underlying network configuration, i
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