Loop Energy and BayoTech have joined forces to accelerate the deployment of hydrogen-powered vehicles and the supporting infrastructure as part of an effort to push forward the transition to cost-effective, zero emission commercial vehicles and power generator technologies.
The news is a result of a joint market development agreement signed on Wednesday (6th April), through which the two companies will collaborate on the development of market opportunities for deployment of vehicles manufactured by Loop’s customers in combination with on-site hydrogen generation infrastructure provided by BayoTech.
Under agreement terms, initial development activities will focus on materials handling, warehouse and port logistics, including drayage; transit and coach bus service; urban delivery services; and stationary power applications.
“Fleet operators are facing increased pressure to transition to zero emissions and our partnership with Loop Energy creates an ecosystem that removes many of the barriers to adoption of hydrogen fuel cells as a solution,” explained Stewart Stewart, Chief Commercial Officer at BayoTech.
“Both Loop and BayoTech are focused on enabling the lowest cost of ownership solutions to the fleet operator customers. We look forward to building on the foundation of this important strategic partnership as we continue to work together towards mass-market adoption of hydrogen fuel cell technologies.”
“We believe that hydrogen vehicle cost of ownership and easy, economical access to the hydrogen fuel are closely intertwined and are both critical to successful project development,” added George Rubin, Chief Commercial Officer of Loop Energy.
“Our collaboration with BayoTech widens the hydrogen ecosystem, supports our OEM customers in market and sales channel development process, and helps bring down the barriers and the cost of adoption of hydrogen electric solutions by commercial vehicle operators. This is yet another progressive chapter in the global acceleration of hydrogen adoption.”