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Canadian Fuel Cell Company Forms China JV
Canada’s Loop Energy has formed a joint venture with China’s In-Power to develop fuel cell range extenders for trucks and buses in China.
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British Columbia-based Loop Energy has formed a joint venture with China’s In-Power, which specializes in power electronics equipment, to develop fuel cell-powered range extenders for trucks and buses in China.
The deal includes a non-exclusive licensing agreement for the venture to use Loop’s fuel cell technology. Financial terms weren’t disclosed.
China aims to have one million fuel cell cars and commercial vehicles on the road by 2030. To support the vehicles, the government plans to have more than 1,000 hydrogen fuel stations installed.
Loop claims its proprietary “eFlow” system provides improved power density and cost benefits over other fuel cells. Beijing-based In-Power will contribute its manufacturing capability and power electronic expertise, including its DC/DC fuel cell inverter system.
Loop, which was formed 15 years ago as PowerDisc Development, received an unspecified investment from Cummins Inc. last month. As part of that deal, Loop will supply Cummins with a fuel cell stack for use in demonstration trucks.
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