Loop Energy enters into multi-year contract with ECUBES for fuel cell modules

VANCOUVER — Loop Energy, a developer and manufacturer of hydrogen fuel cell-based solutions, announced the signing of a Memorandum of Understanding and Commercial Agreement with ECUBES – a rapidly growing developer of hydrogen electric systems for stationary power applications based in Slovenia, Europe. The agreement contemplates deliveries in excess of fifty Loop Energy eFlow™ fuel cell modules to ECUBES over a two-year period.

Under the terms of the agreement, Loop’s high fuel-efficient fuel cell modules will be integrated with ECUBES proprietary Thermal Green Hydrogen Energy Storage solution HYDROGENIUM, storing energy in solid matter with no pressurised vessels for hydrogen. Systems are designed to be supplied to a range of European customers including the European Defence Agency’s “RESHUB” project (Defence RESilience Hub Network in Europe), a project that aims to improve energy efficiency in the European defence sector.

“We are very excited about the partnership with ECUBES as it constitutes an important step in Loop’s European expansion strategy, as well as an entry into the rapidly growing zero emission stationary power market,” said Ben Nyland, President and Chief Executive Officer of Loop Energy. “We appreciate ECUBES entrusting Loop to support their go-to-market strategy and look forward to supporting their goal of providing customers with one of the best cost and high-performing solutions on the market.”

ECUBES has a long history developing sector coupling projects between the power, gas, transport, and defense sectors based on hydrogen technologies. Developments include hydrogen powered stationary systems, energy storage, as well as zero emission transport projects around the world including Project Zero Emission Mobility Corridor Slovenia, Pan European defence project RESHUB led by SI-MOD, and the Project Hydrogen Zero Emission Mobility Programme for the Asian Games 2018 organised in Indonesia under the Olympic Committee of Asia and supported by Imperial College London.

Loop Energy and ECUBES intend to pursue additional opportunities once the first projects are initiated. Hydrogen fuel cells are considered one of the cleanest, resilient, and efficient technologies for transforming power generation and transport to sustainable energy systems. When using hydrogen as the fuel, electricity is generated without CO2 emissions.