Loop expects to service a $15bn truck and bus market in the UK and Europe
Loop Energy to open UK manufacturing facility
Firm expects size of hydrogen fuel-cell truck and bus market in UK and Europe to grow to $15bn over next 2-3 years
Canadian fuel-cell firm Loop Energy is to open a manufacturing facility in the UK to meet growing customer demand for fuel-cell electric vehicles in the UK and Europe. The facility will be based in Grays, Essex near the headquarters of UK truck manufacturer Tevva Motors. Loop last month signed a multi-year agreement to supply Tevva with fuel cells for its vehicles. Tevva intends to produce 3,000 trucks per year by 2023 and expects the size of the global electric truck market to grow from $1.15bn in 2020 to $14.19bn by 2027. It has raised $140mn in funding in the past two years to meet these expected demand levels. “We are excited to open a new facility in the UK, where both the private and p
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