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Loop Energy

Hydrogen Economy
Product stageSegments
Early
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Hydrogen Fuel Cells
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Loop Energy is a Canadian company developing hydrogen fuel cell modules and stacks for vehicle OEMs and power generation system manufacturers. The company’s patented proton exchange membrane (PEM) fuel cell architecture, called “eFlow”, features uniquely designed bipolar plates that the company says ensure uniform power density across the active area while increasing gas velocity to provide superior fuel efficiency.

The company has two production facilities in Burnaby, Canada and Shanghai, China, and an operational presence in North America, the UK, Asia-Pacific, and Europe.

In February 2024, Loop Energy completed the acquisition of H2P Portable Power Corp, a developer of hydrogen-powered industrial equipment, with whom it partnered in February 2023 to develop zero-emission generators.

Key customers and partnerships

The company targets commercial vehicles, such as light commercial vehicles, transit buses, and medium- and heavy-duty trucks. In July 2022, Loop Energy signed up Tevva as its first customer, and in the same month, partnered with a second bus manufacturer, Mobility and Innovation (M&I) , to supply 10 S300 (30 kilowatt) fuel cell systems to expand M&I’s city bus platform. In October 2022, Loop Energy signed up Rampini Carlo as the third bus manufacturer to launch a hydrogen-electric bus platform, following the addition of addition of Opex, a Colombian systems integrator; Avia Ingeniería, a Spanish electric powertrain provider; and Aluminium Revolutionary Chassis Company, an Australian manufacturer of lightweight bolted aluminum city bus chassis, as customers. 

In August 2021, Loop Energy announced the first order placement for its eFlow hydrogen fuel cell systems through an agreement with South Korea-based Natural Gas Vehicles International (NGVI). The company has also partnered with Tecnicas Reunidas to expand hydrogen mobility in Spain, Hydrogen In Motion for hydrogen-powered rail transportation in Canada, METTEM-M to provide hydrogen electric powertrains for commercial vehicles in Russia, and Drabpol as a value-added reseller in Poland.

In March 2022, Loop Energy partnered with Innotest AG, a Switzerland-based developer of stationary power systems, to integrate eFlow into its Home Power Energy System for residential and commercial buildings. In May 2023, the company partnered with MYNT First Element (Australia), a power generator manufacturer, to produce hydrogen electric power generators. And in September 2023, Loop Energy was one of two companies selected to provide a hydrogen electric solution for the global supply chain leader DP World’s pilot project to decarbonize its fleet of rubber-tired gantry cranes at the Port of Vancouver.

Funding and financials

In May 2022, Loop Energy was awarded USD 9.75 million by the Government of Canada through Pacific Economic Development Canada’s (PacifiCan) Jobs and Growth Fund. In March 2020, the company raised an undisclosed amount from Cummins, a US-based multinational company that manufactures engines and power generation products. The proceeds were to be used to expand the production capacity of Loop Energy’s hydrogen fuel cell stacks at its facility in Burnaby.

The company reported revenues of CAD 3.3 million (USD 2.4 million) and a net loss of CAD 37.5 million (USD 27.7 million) in 2022.

Hydrogen Economy

Hydrogen Economy

Key stats
Featured companies
66
Total funding (USD)
9.5 Bn
Total addressable market (USD)
128.7 Bn
Key competitors
 
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Recent Updates

Feb 12, 2024
Loop Energy merges with H2 Portable Power to provide hydrogen-enabled equipment
Hydrogen Economy
Partnerships
Jun 28, 2023
Loop Energy signs up third European bus manufacturer to supply hydrogen fuel cells
Hydrogen Economy
Partnerships
Feb 24, 2023
Loop Energy partners with H2 Portable to develop hydrogen gensets
Hydrogen Economy
Earnings/results
Nov 2, 2022
Loop Energy Q3 2022 results: revenue up by 600% YoY and achieves 61 POs out of 100
Hydrogen Economy
Partnerships
Oct 12, 2022
Loop Energy signs up a third bus manufacturer, Rampini Carlo, to supply hydrogen fuel cells
Hydrogen Economy
Management news
Oct 6, 2022
Loop Energy gains Opex and Avia Ingeniería as customers
Hydrogen Economy

Company Brief


HQ location:
200-4664 Lougheed Hwy Burnaby BC CAN
Founded year:
2000
Employees:
11-50
Total Funding:
USD 15.1 million
Last Funding
USD 7.6 million, May 2022

Funding


Investors


No investor data is available

Funding data are powered by Crunchbase
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