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Loop Energy Appoints Experienced CleanTech Executive Brad Miller to Board of Directors
Tuesday, January 31, 2023Company Profile | Follow Company
Burnaby, BC, January 30, 2023--(T-Net)--Loop Energy (TSX: LPEN), a designer and manufacturer of hydrogen fuel cells for commercial mobility, announced the addition of Brad Miller to its Board of Directors.
Miller's appointment is the next step to evolving Loop Energy's board, an effort which began last year with the appointment of Kent Thexton as Board Chair and Paul Cataford as Director, Corporate Secretary and CFO.
Loop Energy says it continues to strengthen its leadership and expertise at the board level as it focuses on the next stage of growth and develops a path to profitability.
Miller brings a wealth of experience and success as a leader who has built and scaled multiple clean technology manufacturing businesses to profitability.
Miller's AdvanTec Global Innovations expanded into developing reformers for stationary hydrogen-electric generators and hydrogen fuelling station equipment. Previously Miller founded IMW Industries, a manufacturer of compressed natural gas (CNG) equipment, and he grew the business to over $100 million in revenue and 700 employees worldwide.
In conjunction with this appointment, Neil Murdoch has resigned from the board.
"We are excited to welcome Brad and look forward to drawing on his extensive experience in the hydrogen and cleantech manufacturing sectors," said Loop Energy Chairman, Kent Thexton. "Brad's knowledge and expertise in scaling manufacturing operations is a key value-add at the board level as we grow Loop Energy and leverage its proprietary technology. We'd like to extend our gratitude to Neil Murdoch for his dedication and contribution to the board."
Ben Nyland, President and CEO, Loop Energy
"Brad's experience scaling manufacturing operations and driving profit margins will be beneficial to Loop Energy and our team" said Loop Energy President & CEO, Ben Nyland. "More focus on emerging and profitable market segments and an emphasis on sizing our operation to current market conditions will drive profitability and shareholder value appreciation sooner. Management and the Board are aligned on a vision and a direction forward."
About Loop Energy Inc.
Loop Energy is a leading designer and manufacturer of hydrogen fuel cell systems targeted for the electrification of commercial vehicles, including light commercial vehicles, transit buses and medium and heavy-duty trucks. Loop Energy's products feature the company's proprietary eFlow™ technology in the fuel cell stack's bipolar plates. At the core of this innovation is its modified geometry that delivers improved uniform current density across the entire active area and increases gas velocity throughout the plate to enhance performance and water management. This innovative design provides OEMs and fleet operators with new levels of fuel efficiency, peak power and durability.
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Forward Looking Information This press release may contain forward-looking statements with respect to us and the fuel cell industry. Such statements reflect our 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. [ MORE ] |
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