Despite substantial losses, Loop Energy sees 2021 revenue grow by 161%

By Will Hall - 2nd May 2022

Canada – Fuel cell manufacturer Loop Energy Inc, based in Vancouver, Canada, has announced its financial results for 2021, highlighting a 161% growth in revenue over 2020.

Full year revenue from 2021 totalled CAD1.4 million, up from 0.5 million in 2020. The firm ended the year with a net loss of CAD25 million, up from 8.9 million in 2020. Loop reported 22 purchase orders for its fuel cell systems in 2021 and hopes to triple this to 60 fuel cell units in 2022.

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