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Few people noticed this week when Vancouver-based Loop Energy Inc. announced that a German freight company could order 20 of its hydrogen fuel cells for use in a fleet of electric trucks.
The potential order from German company Rheintal-Transporte GmbH & Co.KG, which is to be phased out over the next two years, hardly suggests a green energy revolution.
“The numbers are not that massive,” said George Rubin, chief commercial officer of Loop at the Financial Post. “You mean 10 trucks here, 20 trucks there.”
But he added: “What you’re seeing right now are kind of the green shoots of this app, the first users coming in, and that’s why the numbers aren’t huge.”
After 20 years of research and development, Loop Energy is finally starting to market its patented eFlow hydrogen fuel cell technology. In February, the company raised $ 100 million in an initial public offering on the Toronto Stock Exchange, which was priced at $ 16 each.