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Loop Energy Targets Strategic Growth with Appointment of Damian Towns as CFO

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  • LPEN.TO

VANCOUVER, British Columbia, November 09, 2021--(BUSINESS WIRE)--Loop Energy (TSX: LPEN), a developer and manufacturer of hydrogen fuel cell solutions, is pleased to announce Damian Towns will join the company as Chief Financial Officer on November 15, 2021.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211109005294/en/

(Photo: Business Wire)

Mr. Towns joins Loop Energy from Photon Control, a Richmond, BC-based optical sensors supplier to the world's largest semi-conductor OEMs. As the Chief Financial Officer and Corporate Secretary, Mr. Towns guided Photon's exponential growth and maximized shareholder revenue through its recent acquisition. He brings deep expertise and technical knowledge in corporate finance, financial planning, accounting, governance, and investor relations. Loop Energy is also excited to draw on Mr. Towns' strategic and financial experience managing organizations with manufacturing operations and research & development activities.

Mr. Towns brings over 25 years of experience in progressive and rapid-growth companies, spending 15 years leading organizations at the executive level. Prior to his role at Photon Control, Mr. Towns served as an Executive Director, CFO and Corporate Secretary at Liberty Defense (TSXV: SCAN), a technology company that provides Active 3D Imaging and AI software to address security challenges. His career also includes over 12 years as CFO and Corporate Secretary at Marimaca Copper (TSX: MARI), formerly Coro Mining. Mr. Towns holds both CPA and CA designations, along with a First-Class Honours degree in accounting and finance from the University of Otago, New Zealand.

The arrival of Mr. Towns continues to strengthen Loop Energy as a leader in hydrogen fuel cell technology. With significant international experience in high-growth companies, he is well-positioned to provide strategic oversight as Loop enters new markets and expands its global footprint. Mr. Towns will also oversee investor relations initiatives.

"I am excited to be joining Loop Energy's world-class team and to augment the existing leadership team already in place," said Damian Towns. "Hydrogen fuel cells have an increasingly important role to play in reducing global carbon emissions and supporting the clean energy transition. l believe Loop's technology, innovation and performance will place it at the forefront of the electrification industry growth curve."

"Damian's experience scaling progressive companies both internationality and in North America will be an important addition as Loop continues to expand in various markets," said Ben Nyland, President & Chief Executive Officer at Loop Energy. "We believe Damian is a tremendous hire and one that will bring strategic value to our executive team as we continue to grow."

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211109005294/en/

Contacts

Loop Energy Media Contact: Ethan Hugh | Tel: +1.604.222.3400 x 304 | ethan.hugh@loopenergy.com
Loop Energy Business Contact: George Rubin | Tel: +1.604.828.8185 | grubin@loopenergy.com

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