Loop Energy and Morello Launch Strategic Cooperation in the Hydrogen Electric Material Handling Market
The agreement anticipates Loop supplying Morello with its eFlow™ fuel cell modules for integration into hydrogen electric heavy-duty tractors, purpose-engineered for the handling of extra-heavy loads inside industrial plants, including steel and paper mills.
The two companies are targeting design completion within the first half of 2021 followed by construction and deployment of the initial quantity of 10 heavy-duty tractors powered by Loop fuel cells with early adopter customers over the following 18 months.
Loop Energy’s eFlow™ fuel cell modules have quickly gained market traction with customers in Asia, Europe, and North America due to their market-leading characteristics, including fuel efficiency and ease-of-integration.
Loop Energy and Morello intend to pursue additional opportunities within multiple market verticals upon successful completion of the initial product launch.