Loop Energy signs multi-year fuel cell supply agreement with Tevva

In Canada, Loop Energy has signed a multi-year fuel cell supply agreement with Tevva Motors Ltd, which includes delivery commitments in excess of $12 million thru 2023. As a result of the agreement, which extends through to 2024, Tevva becomes the first customer to move into the Full Production Phase of Loop Energy’s Customer Adoption Cycle. Details to join the analyst conference call on July 5 are at the end of release.

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.