Burnaby’s Loop Energy is going public on the TSX with plans for raise $100 million in the process.
Loop Energy provides zero-emission power systems for heavy-duty transportation applications. Loop works with vehicle manufacturers to design and deliver carbon-free motive solutions using both electric and hydrogen fuel cell technologies.
Loop sells and services two categories of products: fuel cell stacks and fuel cell modules, which are intended to serve a variety of commercial applications including light commercial vehicles, transit buses, medium and heavy duty trucks, marine, train, mining trucks, material handling vehicles and stationary power.
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Over the last two years Loop has received strategic investments totalling $15 million from Cummins, the power systems giant that wrote the book on high-performance diesel engines. Cummins currently owns 23% of Loop and their stake will be worth over $100 million post-IPO.
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