Loop Energy has announced plans for its first fuel cell facility in the UK. The company designs and manufactures hydrogen fuel cells for commercial mobility and it currently has facilities in Canada, Italy and China. Roles at the new facility include production support, customer support and inventory.
The company said the facility will be in Grays, Essex, next to a growing group of manufacturers such as hydrogen and electric truck OEM Tevva Motors, which is based in Tilbury. A month ago Loop Energy signed a multi-year fuel cell supply agreement with Tevva, which includes delivery commitments in excess of US$12 million through 2023.
Loop Energy is listed on the Toronto Stock Exchange and has raised C$100 million to target the commercial vehicle sector, including buses and heavy goods vehicles.
Loop Energy President & CEO, Ben Nyland said: “Our investment commitment for the UK market is strategic to serve both UK and the rest of Europe. We expect to service a truck and bus market size upwards of US $15 billion over the next 2 to 3 years, and our UK facility is established as the localized support centre for these vehicles. Our investments to the UK will grow in lock-step with the growth of our local OEM customers, and our investment strategy will align with the timing and volume of our ecosystem partners as the industry ramps up supply to this market,”
“We also believe that the UK’s strong pool of manufacturing and design talent will help take Loop to the next level in its growth story.”