“The numbers are not that massive,” George Rubin, Loop’s chief commercial officer acknowledged to the Financial Post. “You’re talking about 10 trucks here, 20 trucks there.”
While the market conditions appear favourable, recent weeks have been turbulent for the company with its share price dropping from $17.20 on Mar. 1 to $12.67 as of Friday morning. Of course, unlike battery electric vehicles, where Tesla Inc. has been producing cars that win rave reviews for their quality and craftsmanship, the companies playing in the hydrogen fuel cell space haven’t yet captured the public imagination.
In the past year, the company advanced a joint venture agreement with Weichei Power Co., a Chinese state-owned engine company, where the government has set a target of putting one million fuel cell vehicles on the road by middle of the next decade. Earlier this month, it filed a base shelf prospectus, announcing it may seek to raise an additional $1.5 billion in the coming weeks.Loop’s Rubin extolled hydrogen fuel cells as a functional match for diesel trucks, only with lower emissions.
I would buy one of the 3 hydrogen fuel cells cars if Canada had any refueling infrastructure outside of a few stations in lower mainland BC and one in Quebec City. I have a PHEV. A fuel cell car is the next and best step up. Refuel in 5 minutes at a station after 500mi.
Good news for the oil and gas industry.
william_sw “Fuel cell technology … is in our view, the leading alternative to diesel commercial trucks, particularly in the long-haul cargo segment, and can enable a number of transit bus markets that cannot be replicated by battery electric at this juncture.”