Loop Energy Applauds Skywell and Joint Venture Partner InPower for Inclusion of a Commercial Hydrogen Fuel Cell Electric Bus into China's MIIT New Energy Vehicle Index

Achievement is an important step in expanding Loop's market footprint in the zero-emission vehicle market in China

VANCOUVER, BC, Oct. 5, 2020 /PRNewswire/ - Loop Energy, a hydrogen fuel cell company providing solutions for the commercial vehicle markets, announced today that Skywell New Energy Vehicles Group (Skywell) received index approval from China's Ministry of Industry & Information and Technology (MIIT) for a zero-emission public transport bus powered by Loop Energy's fuel cell engines.

Manufactured with Loop Energy signature eFlow® fuel cell stacks, the engines were supplied to Skywell by InPower Renewable Energy – Loop's partner in a China-based fuel cell engine manufacturing joint venture. InPower has also provided a purpose designed DC-DC solution for the vehicle. This development signifies a major advancement of the previously announced cooperation between Loop Energy, In-Power and Skywell targeting the roll out of hydrogen electric buses as a part of Lishui District, Nanjing transit bus fleet.

Skywell's newly released model NJ6106FCEV 10.5m long bus is manufactured by the company's subsidiary Nanjing Golden Dragon Bus Co., Ltd. The vehicle is equipped with a heavy-duty 50kW fuel cell engine, has a range of 450 kilometres with Loop's signature high fuel efficiency eFlow® technology and can eliminate more than 100 tonnes of CO2 emitted per diesel bus annually. The vehicle can be found in MIIT's Catalogue of Recommended New Energy Vehicles, Batch 9, 2020.

The approval signifies achievement of the mandated National Fuel Consumption Standard required for all new commercial heavy-duty vehicles sold in China. As a result, Skywell hydrogen electric buses with Loop Energy fuel cell engines are now ready for large-scale commercial deployment in China.

"Loop Energy is pleased to congratulate Skywell on this critical step to transforming a significant portion of their Nanjing municipal bus fleet to zero-emission hydrogen fuel cell electric power" said Ben Nyland, President and Chief Executive Officer of Loop Energy. "As China seeks to expand its new national hydrogen program, it is an honor for our joint venture partner be the fuel cell supplier of choice to Skywell and the Nanjing Golden Dragon Bus Co., and we look forward to continued joint successes in the future."

"Loop Energy has developed the most practical and efficient fuel engine solution that will not impact the payload, range, or refueling time of our zero-emission vehicles," said Ms. Zou Ran (Joanna), Director of External Affairs & Brand of Skywell New Energy Vehicles Group. "They will be the obvious first choice as a supply partner as we look to deploy similar sustainable fuel cell solutions across a wide range of our specialty and commercial vehicles including logistics trucks, dump trucks, refuse trucks, port vehicles, transit buses, street cleaners, and emergency vehicles."

"InPower- Renewable Energy has made immense technical progress with the development of our DC-DC unit for heavy-duty fuel cell commercial vehicle applications in China," said John Zhang, Founder and President of IN-Power. "We look forward to intensifying our work with Skywell to expand the success of their fuel cell vehicle programs in China."

Loop Energy's fuel cell stacks incorporate its proprietary eFlow® technology to produce unmatched power and fuel efficiency. Its premier fuel cell engine products for heavy-duty trucks and buses, certified to GB/T standards and listed with the Ministry of Industry and Information Technology of China (MIIT), are approved for vehicle indexing and afford multiple cost and performance benefits over traditional fuel cell designs including the industry's highest power density which results in substantial fuel cell manufacturing and system integration cost advantages.

About Loop Energy Inc.

Loop Energy provides zero-emission power systems for medium to heavy-duty transportation applications. Loop works with engine suppliers and vehicle manufacturers to design and deliver carbon-free motive solutions using both electric and hydrogen fuel cell technologies. For more information about how Loop Energy is driving the future of zero-emissions, visit www.loopenergy.com.

About InPower-Loop Energy Technology (Beijing) Co. Ltd.

Founded in 2019, InPower-Loop Energy Technology Co. is a high-tech joint venture enterprise headquartered in the high-tech industrial park, Zhong Guan Cun, in Beijing. Formed to support China's growing demand for commercially viable zero-emission transport solutions, InPower-Loop Energy has combined the leadership and industry-leading products of Loop Energy's hydrogen fuel cell transport engine systems with InPower's power electronics equipment and manufacturing capabilities. For more information, please visit www.in-power.net

About Skywell New Energy Vehicles Corp.

Skywell New Energy Vehicles Corp., formed in 2011 following the acquisition of Nanjing Jinlong Bus Manufacturing Co., is a leading developer and global supplier of electric vehicles. With headquarters located in the Lishui Airport Economic Development Zone in Nanjing, China, with production factories located  in Wuhan, Shenzhen and Xianyang, Skywell manufactures and markets an extensive range of sustainable vehicles from light-duty automobiles, to medium and heavy-duty buses, commercial and specialty fleet trucks. The company also operates buses in the Lishui district of China. www.skywellcorp.com

SOURCE Loop Energy Inc.