U.S. markets closed
  • S&P Futures

    3,852.50
    +13.50 (+0.35%)
     
  • Dow Futures

    31,616.00
    +151.00 (+0.48%)
     
  • Nasdaq Futures

    12,669.25
    +5.50 (+0.04%)
     
  • Russell 2000 Futures

    2,210.40
    +20.70 (+0.95%)
     
  • Crude Oil

    67.43
    +1.34 (+2.03%)
     
  • Gold

    1,709.00
    +10.50 (+0.62%)
     
  • Silver

    25.73
    +0.44 (+1.73%)
     
  • EUR/USD

    1.1926
    +0.0001 (+0.01%)
     
  • 10-Yr Bond

    1.5540
    +0.0040 (+0.26%)
     
  • Vix

    24.66
    -3.91 (-13.69%)
     
  • GBP/USD

    1.3845
    +0.0017 (+0.13%)
     
  • USD/JPY

    108.4180
    +0.0360 (+0.03%)
     
  • BTC-USD

    51,612.10
    +2,483.91 (+5.06%)
     
  • CMC Crypto 200

    1,041.40
    +98.22 (+10.41%)
     
  • FTSE 100

    6,630.52
    -20.36 (-0.31%)
     
  • Nikkei 225

    29,137.43
    +273.11 (+0.95%)
     

Loop Energy Receives Fuel Cell Range Extender Order for Transit Buses in Nanjing China

·2 min read

Order Follows Receipt of Product Certification for Loop's 50-Kilowatt Fuel Cell Range Extender from CATARC in China

VANCOUVER, April 7, 2020 /PRNewswire/ - Loop Energy, a mobile-power company providing hydrogen fuel cell based solutions for the medium-to-heavy duty vehicle market, announced today that it has received a purchase order from a leading bus manufacturer in China to support the Nanjing municipal government's objective of replacing its existing 7000-unit battery-electric bus fleet with an improved battery-hydrogen hybrid alternative that offers all-season, long-range, and higher passenger-capacity operation.

The multiple-unit range extender order, which represents the start of a long-term commercial agreement with a total estimated value of approximately US$15 million over a three-year period, follows the receipt of product certification for Loop's 50 kW Fuel Cell Range Extender Module series from the China Automotive Technology and Research Center (CATARC), a national independent testing and certification organization for vehicular products in China.

"We are pleased to receive this initial order for Loop's 50 kW fuel cell range extenders immediately following the earning of product certification from CATARC, who is widely recognized as one of the premier vehicle testing organizations worldwide," said Ben Nyland, President and Chief Executive Officer of Loop Energy. "This agreement marks an important milestone for Loop as it signifies a ramp-up of commercial activity, but it is also a testament to the growing market recognition of Loop product's performance and cost advantages. We look forward to building on this momentum as we expand our market footprint in China, Europe and other international markets."

As the company's premier product for heavy-duty trucks and buses, Loop Energy's 50 kW range extenders unlock multiple cost and performance benefits over traditional fuel cell designs including the industry's highest power density which results in substantial fuel cell manufacturing and system integration cost advantages.

Certified to GB/T standards, Loop Energy's range extender is officially listed with the Ministry of Industry and Information Technology of China (MIIT) and approved for vehicle indexing, enabling original equipment manufacturers to select Loop Energy's product for integration into market-ready fuel cell electric vehicles in China. We invite original equipment manufacturers to contact Loop Energy to receive detailed product information on our market-leading fuel cell range extender systems.

About Loop Energy

Loop Energy provides zero-emission power systems for medium to heavy-duty transportation applications. Loop works with engine suppliers and vehicle manufacturers to design and deliver carbon-free motive solutions using both electric and hydrogen fuel cell technologies. For more information about how Loop Energy is driving the future of zero-emissions, visit www.loopenergy.com.

Cision
Cision

View original content to download multimedia:http://www.prnewswire.com/news-releases/loop-energy-receives-fuel-cell-range-extender-order-for-transit-buses-in-nanjing-china-301036319.html

SOURCE Loop Energy