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Teralta acquires Loop Energy to advance its clean H2 strategy
Teralta Hydrogen Solutions Inc. (Teralta), a leader in clean H2 and e-natural gas production within North America, announced the acquisition of 100% of the issued and outstanding common shares of Loop Energy Inc., a developer and manufacturer of H2 fuel cell systems targeted for the electrification of commercial vehicles such as buses and trucks, as well as stationary power applications.
Headquartered within Greater Vancouver’s H2 hub in Burnaby, Loop Energy was instrumental in positioning the district as the fuel cell design capital of the world. The company provided an unmatched combination of fuel efficiency, power density, and fuel durability with proprietary designs and technological advancements, including its patented Loop Energy eFlow technology.
“Loop Energy’s mission is to design and commercialize H2 fuel cell technology to drive zero-emissions,” stated Simon Pickup, CEO of Teralta. “The two companies combined will advance the mission, evolving the business model by combining Loop technology with Teralta’s clean H2 production, storage and delivery infrastructure.”
Fuel cell technology is essential to Teralta’s line of business for zero emission mobile and portable energy. While the company has active projects and established fuel cell partnerships, the acquisition of Loop Energy enables Teralta to extend its reach to support additional use cases such as for data centers, mining, and construction.
Loop Energy’s Burnaby location will become Teralta’s new head office, serving as a technical base for the company to test and integrate partner fuel cells during project implementation. Existing H2 infrastructure at the Burnaby location will be leveraged to store and distribute clean H2 in support of Teralta projects within the greater Vancouver area.
“Teralta is excited to join other H2 and clean energy innovators in Burnaby,” said Pickup, “especially the Clean H2 Hub at Simon Fraser University, renowned for its active support of the clean energy transition. Some of our existing partners are now our neighbors. It’s like we’ve come home.”
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