LOOP SAYS NEW HYDROGEN FUEL CELL BETTER THAN DIESEL LOOP SAYS NEW HYDROGEN FUEL CELL BETTER THAN DIESEL
- National Post
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Hydrogen fuel cell maker Loop Energy jumped more than five per cent Monday after the company said its latest cell system can deliver better fuel economy than a diesel engine at current price levels. The Burnaby, B.c.-based company said Sunday that — based on a pan-european diesel cost of US$1.91 per litre on Sept. 5 and US$10 per kg of hydrogen — a truck could travel just over 111 miles (179 kilometres) on US$100 worth of fuel using its new S1200 hydrogen fuel cell system versus a little over 109 miles for an equivalent diesel truck. “This brings the future forward,” Loop Energy chief executive Ben Nyland, pictured, told Reuters. “This product delivers the economics that are needed for adoption today.” The company’s biggest shareholder is U.S. engine maker Cummins, with about 20 per cent in Loop Energy.