The new hydrogen electric fire truck will be equipped with two Loop Energy T505 fuel cell systems

Seville, August 9, 2023 - Loop Energy™ (TSX:LPEN), a leading manufacturer of hydrogen fuel cells, is pleased to announce that it has been selected to supply fuel cell systems for a new fire truck platform. by an established specialty vehicle OEM with a significant global presence operating in 14 countries with over 1,400 employees. The new hydrogen electric fire truck will be powered by two Loop Energy T505 fuel cell systems. In the first phase of the deployment plan, a pilot project will put a vehicle into operation at an airport in Spain. In later phases, the OEM intends to scale up production for use elsewhere, with production expected to start in Q4 2023. With this new partnership, Loop Energy enters the specialty vehicle market, featuring a significant opportunity for hydrogen fuel cell electrification due to its unique operational requirements, including high uptime and power needs. Luigi Fusi, Loop Energy's Vice President of Sales and Business Development EMEAR, stated: " Specialty vehicles like fire trucks have their own challenges when it comes to electrification.Fuel efficiency and storage capacity play a critical role in determining vehicle range and ability to run longer without the need to refuel, which is critical as these vehicles are designed to service many mission-critical situations. We are excited to see Loop Energy fuel cells being used in a new category of vehicles, and look forward to a successful pilot project." Loop Energy fuel cells were selected for their high fuel efficiency compared to conventional products. from the competition, a key differentiator of the patented eFlow™ technology. About Loop Energy Inc. Loop Energy™ is a leading designer and manufacturer of hydrogen fuel cell systems for the electrification of commercial vehicles, including transit buses and medium and heavy trucks Loop Energy products incorporate the company's proprietary eFlow™ technology into the bipolar plates of the fuel cell eFlow™ technology enables commercial customers to achieve superior performance and increased fuel efficiency fuel, with lower cost of ownership and faster time to market Loop Energy works closely with OEMs and major vehicle subsystem suppliers to enable the production of hydrogen fuel cell electric vehicles. For more information on how Loop Energy is moving towards a zero emissions future, you can visit www.loopenergy.com Issuer: Loop Energy

ContactContact name: Ethan HughContact phone: 1.604.222.3400