VANCOUVER, BC – Loop Energy (TSX: LPEN), a developer and manufacturer of hydrogen fuel cell-based solutions, announces the addition of Jacques Esculier to the company’s advisory council. Mr. Esculier was the Chairman and Chief Executive Officer of WABCO Holdings Inc., the leading global supplier of braking control systems and other advanced technologies that improve the safety, efficiency and connectivity of commercial vehicles.
In his advisory role, Mr. Esculier will leverage decades of experience in the commercial vehicle industry to provide guidance and insight to Loop Energy’s executive management team with respect to the effective commercialization of the Company’s technologies and products.
Prior to this, Mr. Esculier held the position of Vice President of American Standard Companies Inc. and President of its Vehicle Control Systems business. His wealth of management experience also includes the role of Business Leader for American Standard’s Trane Commercial Systems’ Europe, Middle East, Africa, India & Asia Region; leadership positions at AlliedSignal/Honeywell; Vice President and General Manager of Environmental Control and Power Systems Enterprise; and Vice President of Aftermarket Services—Asia Pacific. Mr. Esculier also served on the board of directors of Pentair PLC until May 2020.
“I am very pleased to support Loop’s commercialization strategy, offering a unique counsel position during this stage of rapid development for the company,” said Jacques Esculier. “Loop’s team, technology, and products are industry-leading, and I am convinced that the company is well positioned to be a leading provider of fuel cell technology and products globally over the coming years. I am looking forward to working with management to accelerate Loop’s market penetration.”
“Jacques’ experience leading WABCO for well over a decade gives him an unparalleled understanding of the business needs of the global commercial vehicle market and an extensive network to aid Loop in establishing key relationships in our emerging markets,” said Ben Nyland, President and Chief Executive Officer of Loop Energy. “We are very excited that Jacques has chosen to work with Loop to help us establish our global footprint in the commercial automotive supply chain.”
Mr. Esculier joins Loop Energy’s advisory council along with two other recently appointed members, Lord John Browne and Lance Uggla. Mr. Browne previously served as the Group Chief Executive for BP (British Petroleum). Mr. Uggla is the Founder and CEO of IHS Markit, a global leader in information, analytics and solutions for major global industries, and previously served as the Vice Chair for CIBC World Markets and TD Securities. Together, they bring a vast array of expertise and decades of experience to Loop Energy’s advisory council.
About Loop Energy Inc.
Loop Energy is a leading designer 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 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 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, which could cause actual results and events to differ materially from those that are disclosed in 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 final long-form prospectus of the Company dated February 18, 2021. Loop disclaims any obligation to update these forward-looking statements.