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Loop Energy Awarded $9.75 Million In Funding From Government Of Canada To Scale Production Capabilities

May 02, 2022•over 3 years ago

Amount Raised

$9.75 Million

Vancouver

Description

Loop EnergyTM (TSX: LPEN) announces it has been awarded $9.75 million CAD over three years from the Government of Canada through Pacific Economic Development Canada’s (PacifiCan) Jobs and Growth Fund. Loop Energy will invest the funding into increasing the manufacturing capacities of its hydrogen fuel cell stacks and modules at its Burnaby, Canada, manufacturing facility.

Company Information

Company

Loop Energy

Location

Vancouver, Washington, United States

About

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.