VANCOUVER, BC, March 23, 2021 /CNW/ - Loop
Energy (TSX: LPEN) and Rheintal-Transporte announced
today an agreement for the development and supply of heavy-duty
hydrogen fuel cell range extension solutions for battery electric
trucks in Europe.
As a part of the agreement, Rheintal is looking to use Loop's
industry leading eFlow™ fuel cell modules to expand driving range
capabilities of battery electric trucks to the levels required by
its fleet of long-haul cold-chain logistics vehicles. Rheintal
anticipates orders of eFlow™ fuel cell modules for more than 20
zero-emission hydrogen trucks and trailers over the next 24 months.
In addition to supply of its fuel cell products, the agreement
provides Rheintal with full access to Loop's complementary Total
Customer Care services. This offering provides end-to-end technical
support as well as access to a network of pre-qualified channel
partners specializing in hydrogen electric power train design,
supply of various sub-system components and hydrogen fuel
infrastructure.
Rheintal, based in Germany, is
a recognized industry leader of low-carbon heavy-duty
transportation solutions for its freight forwarding services. The
company's evolution to hydrogen fuel cell electric freight
transport aligns with their goal of enabling emission-free customer
transport deliveries before 2030.
"Over the last two years, Rheintal has evaluated a range of
zero-emission vehicle options and determined that pure
battery-electric solutions alone will not meet either our
operational demands or range requirements," said Wolfgang Normann, Principal of
Rheintal-Transporte. "After a thorough review of next-generation
vehicle powertrain solutions, we chose Loop Energy as our catalyst
for carbon-free power as their eFlow™ fuel cell range extender
system offers a superior blend of benefits from a battery electric
system coupled with a hydrogen fuel engine to augment its range
limitation."
As the transport sector looks to reduce emissions, Loop Energy's
eFlow™ fuel cell solutions are meeting the power, efficiency, and
durability requirements customers demand in heavy-duty
applications.
"On behalf of Loop Energy, we welcome the opportunity to partner
with a progressive company such as Rheintal to help transform their
freight-forwarding business by providing a solution that can
deliver goods with a reduced environmental impact," said
George Rubin, Chief Commercial
Officer of Loop Energy. "This partnership will help pave the way
for enabling a heavy-duty vehicle with a total cost-of-ownership
that is comparable to traditional solutions, and with similar
operational characteristics to diesel engines. We look forward to
growing our relationship with Rheintal further in the years
ahead."
About Rheintal
Rheintal-Transporte GmbH & Co.KG is a leading freight
haulage company for clean transport-services in Germany. Founded in 1934 by the Normann
family, the company is a recognized pioneer in adopting modern
forwarding services and clean power solutions for its long-distance
freight transport trucks, including a sustainable fleet of liquid
natural gas (LNG) haulage vehicles on its path to emission-free
hydrogen transport.
About Loop Energy Inc.
Loop is a leading designer 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 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 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, which could cause actual results
and events to differ materially from those that are disclosed in 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 final long-form prospectus of the Company
dated February 18, 2021. Loop
disclaims any obligation to update these forward-looking
statements.
Source: Loop Energy Inc.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/loop-energy-enters-agreement-with-rheintal-transporte-in-germany-to-provide-loop-eflow-fuel-cell-modules-and-expertise-for-heavy-duty-trucking-applications-301253038.html
SOURCE Loop Energy