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B.C. merger to tackle crane decarbonization on Port of Vancouver
February 16, 2024 By CHC Staff
(Photo credit: Tycrop) VANCOUVER – Hydrogen fuel-cell supplier Loop Energy and industrial equipment developer H2 Portable Power Corp. have entered into an amalgamation agreement, with the goal of replacing diesel equipment on several Lower Mainland projects.
Among these projects, all expected to launch around mid-2024, is a campaign to decarbonize gantry cranes used at the Port of Vancouver.
“This transaction provides what the hydrogen sector in Canada and around the world is missing – the integration of fuel cells into transformative equipment the market can begin adopting now, not in another five or 10 years,” said Scott Mason, CEO of H2.
This new merged organization will be called and traded on the Toronto Stock Exchange under the name H2P and operate as a subsidiary of Loop. This amalgamation is supported by a strategic relationship with Chiliwack’s Tycrop Manufacturing.
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