Posted on 04 Aug 2023
Toronto-listed hydrogen fuel cell company Loop Energy announced its fuel cell products will be used in a two-year government project executed by hydrogen electric bus manufacturer KAR in Ulju-gun, South Korea.
The deal was made through Loop Energy’s strategic partner NGVI, which is mainly engaged in providing compressed natural gas fuel storage and supply system module for automobiles in South Korea.
The pilot bus will be ready in 2024 as part of the South Korean government’s long-term plan for hydrogen mobility. By 2040, it plans to have 60,000 such buses in total. To achieve this goal, it offers benefits of up to 85% for each hydrogen electric bus, Kallanish learns from Loop Energy.
“Korea is advancing its electrification for buses at an accelerated pace. As a fuel cell company, having early design wins in the selection process is critical to gaining entry in the market and a key step towards scalability,” comments Loop Energy’s chief commercial officer George Rubin. “By working closely with our partner NGVI, we have demonstrated an effective partnership to securing more fuel cell supply contracts in South Korea.”
The first hydrogen-powered bus featuring Loop Energy’s fuel cells in South Korea was launched in September 2022, also through a partnership with NGVI. The companies now vow to continue pursuing other commercial opportunities in the country.
Details on the new supply contract for the Ulju project are yet to be disclosed.
Source:Kallanish
