Peter Johansson Joins Board of Directors at Loop Energy Inc.

VANCOUVER, British Columbia--(BUSINESS WIRE)--Loop Energy (TSX: LPEN), a developer and manufacturer of hydrogen fuel cell solutions, announces that Peter Johansson has joined the Company’s Board of Directors. Johansson brings an extensive range of experience to Loop Energy, with a successful 35-year career across the aerospace, automotive and industrial sectors.

Previously he was EVP, Strategy, Business Development and Marketing at Accudyne Industries, where he was responsible for the formulation and execution of the growth, business development and M&A strategies for an extensive portfolio of industrial compressors, pumps and valves. Prior to Accudyne, Mr. Johansson led the product, market, and M&A strategy for IDEX Corporation. He has also held senior business and commercial management and engineering roles with ITT Corporation, Trane Technologies, WABCO, and AlliedSignal. Mr. Johansson is currently a consultant providing strategic and technical advice to highly engineered industrial product companies to drive their value creation and market development efforts.

“Hydrogen is a critical pathway in the clean energy transition, and I believe Loop Energy has the right combination of technology, people and products to become a leading player in this transition,” said Peter Johansson. “I am looking forward to working with the Loop Energy team, fellow board members and strategic advisors to support its successful expansion into markets around the world.”

“Peter is a true leader in the industry, with unique vision and expertise that will add tremendous value to the Company as we continue to expand globally across many sectors,” said Ben Nyland, President & Chief Executive Officer at Loop Energy. “We are thrilled to work with Peter, and we look forward to leveraging his experience in order to accelerate Loop Energy’s growth.”

About Loop Energy Inc.

Loop Energy is a leading designer and manufacturer of fuel cell systems targeted for the electrification of commercial vehicles, including, light commercial vehicles, transit buses and medium and heavy-duty trucks. Loop’s products feature the Company’s proprietary eFlow™ technology in the fuel cell stack’s bipolar plates. eFlow™ was designed to enable commercial customers to achieve performance maximization and cost minimization. Loop works with OEMs and major vehicle sub-system suppliers to enable the production of hydrogen fuel cell electric vehicles. For more information about how Loop is driving towards a zero-emissions future, visit www.loopenergy.com.

This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflect management’s current expectations and projections regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control and could cause actual results and events to vary materially from those that are disclosed, or implied, by such forward-looking information. Such risks and uncertainties include, but are not limited to, the ability of the Company to execute on its strategy and the factors discussed under “Risk Factors” in the Company’s Annual Information Form dated March 30, 2021. Loop disclaims any obligation to update these forward-looking statements.