Loop Energy Announces Resignation of Chief Financial Officer

VANCOUVER, British Columbia--(BUSINESS WIRE)--Loop Energy (TSX: LPEN), a developer and manufacturer of hydrogen fuel cell solutions, today announced that Mr. Darren Ready has resigned as the Company’s Chief Financial Officer effective November 30, 2021 to pursue other opportunities. As announced previously, the role of Corporate Secretary was transferred from Mr. Ready to Ms. Wendy Bach on September 13.

"Darren has been an invaluable member of the senior leadership team over the last several years. His entrepreneurial drive has been instrumental in helping the company get to this point and I am confident that this will continue to serve him well in his future endeavors. The board and entire senior management team thank him for his contribution and wish him all the best," said Ben Nyland, Chief Executive Officer. "We have commenced a formal search process and we are confident we will be able to onboard a new CFO in the near future who will bring financial leadership and public company experience to successfully help navigate our next stages of growth.”

“Since joining the company, it's been my goal to help position the company for the next phase of its business plan and utilize its patented eFlow technology in the heavy-duty motive markets,” said Darren Ready. “I am proud of what we have achieved to date and I am excited to watch the company as it continues to grow in this exciting energy transition market.”

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.