hydrogen

Loop Energy signs fuel cell supply agreement with Tevva Motors

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Loop Energy has signed a multi-year fuel cell supply agreement with Tevva Motors Ltd (Tevva), which includes delivery commitments in excess of US$12 million through 2023, enabling Tevva to become the first customer to move into the Full Production Phase of Loop Energy’s Customer Adoption Cycle.
Loop Energy signs fuel cell supply agreement with Tevva Motors
Loop Energy & Tevva Motors at the Road Transport Expo in Warwickshire, UK.

Tevva will integrate Loop Energy’s fuel cell systems into its manufacturing process as it scales production of its Hydrogen-Electric Trucks to meet demand in 2023. The two companies’ relationship continues to gain momentum after Loop Energy’s eFlow technology won the competitive tender process in 2021, which resulted in Tevva placing initial orders.

Building upon Tevva’s orders for 2022, the significant surge in order volume in 2023 increases Loop Energy’s confidence that it will meet and exceed its previous purchase order guidance. The growth in order volume indicates the commercial mobility sector’s willingness to adopt hydrogen fuel cell technology as a zero-emissions solution.

“The market for zero-emissions commercial vehicles continues to develop quickly, and this supply agreement with Tevva puts Loop Energy on the path to not only technology leadership, but fuel cell market leadership” Loop Energy President & CEO, Ben Nyland said. “This is amongst the largest fuel cell product supply agreements in recent years. The contract with Tevva is indicative of the surge in interest we see in Europe for hydrogen-electric vehicles and the fuel cells that power them. Tevva is quickly establishing itself as a leader in the zero-emission commercial vehicle market in Europe, and we are looking forward to providing the fuel cell systems they need to succeed.”

Tevva Founder & CEO, Asher Bennett, added that the development of Tevva’s Hydrogen-Electric Truck platform has been extremely encouraging and that the company is seeing growing demand for its product line.

“Loop Energy continues to show it can support our production targets and provide a fuel cell solution that will deliver lower costs and improved performance to our customers” said Mr Bennett. “As a result, we are moving closer to our corporate goal of reducing 10 million tonnes of global transportation CO2 emissions by 2030.”

Tevva unveiled its first Hydrogen-Electric Truck alongside Loop Energy at the Road Transport Expo in Warwickshire, UK, on Thursday, June 30. It is anticipated that the first of the trucks will be on the road in 2022. Once deployed, the trucks are expected to rapidly add to the 500,000 kilometres of on-road service Loop Energy’s fuel cells have already powered.

Image: Loop Energy & Tevva Motors at the Road Transport Expo in Warwickshire, UK.

For additional information:

Loop Energy

Tevva

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