LOOP-ENERGY/METTEM-M
8.9.2021 14:02:07 CEST | Business Wire | Press release
Loop Energy (TSX: LPEN), a developer and manufacturer of hydrogen fuel cell-based solutions, announces their partnership with METTEM-M Ltd. , a developer of vehicle control systems and systems integrator, to provide hydrogen electric powertrain solutions to commercial vehicle OEMs across Russia, the Commonwealth of Independent States (CIS), and greater Europe. The companies’ first joint project — a hydrogen electric transit bus for GAZ Group , a leading global commercial vehicle OEM provider — is presently on display at the International Commercial Vehicle Show 2021 (COMTRANS) in Moscow, Russia. The 12-meter passenger bus vehicle is expected to enter regular city transport service in Moscow, in early 2022, after completing customary road testing and vehicle level certification requirements.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210908005445/en/
Under this agreement, METTEM will use Loop’s eFlow™ powered fuel cell modules to develop and supply hydrogen electric subsystems, powertrains, and complete vehicle solutions for a variety of applications including transit buses, logistics vehicles, and rail transport.
The hydrogen electric transit bus, currently showcased by its OEM at COMTRANS 2021, marks the first commercial achievement between Loop Energy and METTEM. The vehicle’s hydrogen electric control system was developed by METTEM under the contract with GAZ Group — a leading manufacturer of light commercial and medium-duty vehicles, buses, powertrain and automotive components, and special-use vehicles headquartered in Russia. The solution is using GAZ Group’s existing battery electric passenger bus platform, Loop Energy’s high efficiency fuel cell modules, and METTEM’s fully integrated hydrogen electric fuel cell system.
“Partnering with Loop was a natural next step for METTEM as we look to supply our OEM customers with mobility solutions that meet the growing demand in Russia and beyond for electric and hydrogen fuel cell vehicles over the next decade,” said Jan Drewitz, CEO of METTEM. “With Loop’s innovative fuel cell modules and our extensive powertrain and vehicle integration expertise, we foresee hydrogen electric solutions, and the benefits of extended range, peak power performance, and fuel efficiency, becoming the gold standard in the commercial vehicle market.”
“Collaborating with METTEM is a key milestone for both the adoption of hydrogen electric solutions for commercial vehicles, as well as expanding Loop’s footprint in both Russian and greater European markets,” said George Rubin, Chief Commercial Officer of Loop Energy. “METTEM’s market knowledge and technical expertise bring an invaluable contribution to this partnership. We are seeing a steady demand for clean energy alternatives across the globe and are eager to work with a leading player in the commercial vehicle industry to provide sustainable solutions.”
About METTEM
METTEM-M, Ltd. is a company of the METTEM TRANSPORT Group. It is also a Russian enterprise that develops, integrates, and produces in series digital E/E control systems, onboard equipment for navigation and other purposes, as well as solutions for both vehicle manufacturers (buses, trucks, special vehicles, passenger cars) and transport operators. METTEM TRANSPORT Group is focused extremely on innovations to improve its products continuously and release new items. Cooperation with Loop Energy will make it possible to implement projects in a trendy area of hydrogen transportation. Applying its experience and competences, METTEM-M is designing hydrogen vehicles as effective and safe for use as possible. https://mettem-m.ru/
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 and projections 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 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 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/20210908005445/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
Biocytogen Announces Clinical Milestone with First Patient Dosed in Phase 1 Trial of IDEAYA’s First-in-Class B7H3/PTK7 Bispecific TOP1 ADC IDE03428.2.2026 01:00:00 CET | Press release
IDE034 is a B7H3/PTK7 bispecific TOP1 ADC designed to target tumor cells expressing both B7H3 and PTK7 preferentially, and is being evaluated as monotherapy and in combination with IDEAYA’s PARG inhibitor IDE161. IDEAYA has dosed the first patient in its Phase 1 trial of IDE034, initially evaluating safety, tolerability, and PK. First dosing triggers a $5 million milestone payment to Biocytogen under the companies’ option and license agreement. Biocytogen Pharmaceuticals (Beijing) Co., Ltd. (Biocytogen, SSE: 688796; HKEX: 02315), a global biotechnology company that drives the research and development of novel antibody-based drugs with innovative technologies, today announced that its partner IDEAYA Biosciences, Inc. (“IDEAYA”; Nasdaq: IDYA) has dosed the first patient in IDEAYA’s Phase 1 dose-escalation/expansion clinical trial of IDE034, an investigational B7H3/PTK7 bispecific TOP1 ADC. Pursuant to the companies’ option and license agreement, first patient dosing triggers a $5 million
IQM and Real Asset Acquisition Corp. to Host Conference Call/Webcast to Discuss Proposed Transaction27.2.2026 13:00:00 CET | Press release
IQM Finland Oy, a global leader in full-stack superconducting quantum computers (“IQM”, “IQM Quantum Computers” or the “Company”), and Real Asset Acquisition Corp. (Nasdaq: RAAQ), a special purpose acquisition company (“RAAQ”), announced that they will host a conference call to discuss their recently announced business combination, including certain transaction highlights. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260227472716/en/ IQM Radiance quantum computer As previously disclosed, on February 23, 2026, IQM and RAAQ announced they have entered into a definitive business combination agreement, which will result in IQM becoming a public company and listing American Depositary Shares on one of the two leading U.S. stock exchanges. The transaction provides funding with the aim to accelerate IQM’s technology and commercial development towards fault-tolerance quantum computing, further advancing its position as a leading p
HighRadius Launches $0 Implementation Fee, $0 Subscription Fee via Outcome Based Pricing for oCFO Software27.2.2026 12:00:00 CET | Press release
HighRadius launches Office of the CFO first Outcome Based Pricing with $0 Implementation fee and $0 Subscription until Go-Live. Customers only pay a fraction of realized gains based on P&L impact. Chapter 1: Outcome Based Pricing (OBP)Introduction of OBP: HighRadius, a provider of 190+ AI agents for Order-to-Cash, Accounts Payable, Record-to-Report, and Treasury introduces Outcome Based Pricing (OBP). Three Components of OBP: Customers pay a) $0 in Implementation fees, b) $0 in Subscription fees until Go Live, c) HighRadius earns a fraction of the actual savings realized by the client. Chapter 2: US GAAP & ASC 606 ConstraintsNot Designed for Innovation: The traditional ASC 606 model requires companies to standardize and recognize revenue based on contractual obligations. For a traditional SaaS subscription, the obligation is access to software over time. AI agents are designed to deliver quantifiable, real-time Business Outcomes that do not fit the traditional accounting framework. Cha
Kioxia Appoints Yoshihiko Kawamura as Chief Financial Officer27.2.2026 09:15:00 CET | Press release
Kioxia Holdings Corporation (TOKYO:285A), a world leader in memory solutions, today announced the appointment of Yoshihiko Kawamura as Chief Financial Officer (CFO), effective April 1, 2026. Mr. Kawamura brings extensive international experience to Kioxia, having held assignments at Mitsubishi Corporation’s U.S. headquarters, served as General Manager of its Chicago office, and completed a tenure at the World Bank. At Hitachi, Ltd., he held senior leadership positions, including Chief Strategy Officer (CSO), Chief Financial Officer (CFO), and Chief Risk Management Officer (CRMO), where he was instrumental in leading the company’s management reforms. Since joining Kioxia as Executive Vice President in June 2025, Mr. Kawamura has worked closely with the executive team to advance the business through strategic capital and financial planning. Following its initial public offering on the Prime Market of the Tokyo Stock Exchange in December 2024, Kioxia is entering a new phase of growth char
DNP Invests in Rapidus to Support the Establishment of Mass Production for Next-Generation Semiconductors27.2.2026 08:18:00 CET | Press release
Will accelerate the development and mass production of EUV lithography photomasks Dai Nippon Printing Co., Ltd. (DNP, TOKYO:7912) today announced that it has participated in Rapidus Corporation’s funding round as one of the round investors. This strategic funding initiative supports Rapidus’ plan to steadily progress from its current R&D phase to mass production of 2nm (10⁻⁹ meters) logic semiconductors by 2027. Through this initiative, DNP will advance the development and mass production of EUV lithography photomasks and support Rapidus as it establishes a mass production system for 2nm & next-generation semiconductors. Background In recent years, the rise in energy consumption, in line with increased data generation, has become a challenge, driving demand for next-generation semiconductors capable of improving device performance and reducing power consumption. Next-generation semiconductors manufactured using EUV lithography enable the formation of finer patterns on silicon wafers co
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