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.
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.