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Loop Energy Reports Third Quarter 2023 Results

Loop Energy Reports Third Quarter 2023 Results

Loop Energy公佈2023年第三季度業績
Accesswire ·  2023/11/10 06:30

VANCOUVER, BC / ACCESSWIRE / November 9, 2023 / Loop Energy (TSX:LPEN) today reported consolidated financial results for the third quarter ending September 30, 2023.

不列顛哥倫比亞省溫哥華/ACCESSWIRE /2023年11月9日/Loop Energy(多倫多證券交易所股票代碼:LPEN)今天公佈了截至2023年9月30日的第三季度合併財務業績。

Commercial Highlights Q3 2023

2023 年第三季度商業亮點

  • On August 1, 2023, we announced that our value-added distributor in South Korea - NGVI Inc., had secured a supply contract for a hydrogen electric bus project with a second municipality in the country. The two-year government project, led by KAR Co. Ltd., will see the hydrogen electric bus put into operation in Ulju-gun, South Korea in 2024.
  • On August 1, 2023, we announced that Loop Energy had been selected to supply fuel cell systems for a new fire truck platform by an established specialty vehicle OEM with significant global presence. The new hydrogen electric fire truck will be fitted with two of Loop Energy's T505 fuel cell systems. In the first stage of the roll-out plan, a pilot project will see a vehicle put into operation at an airport in Spain. In subsequent stages, the OEM is looking to scale production for use in other locations with production expected to begin in Q4 of 2023.
  • On September 12, 2023, we announced that Loop Energy and TYCROP Manufacturing Ltd., had been selected to provide a hydrogen electric solution for the global supply chain leader DP World pilot project to decarbonize its rubber-tired gantry cranes (RTGs) fleet at the Port of Vancouver. The design and manufacturing of DP World's RTG pilot project is led by TYCROP and brings together a consortium of companies in British Columbia, including Loop Energy as fuel cell supplier and HTEC for hydrogen fuel supply.
  • On September 19, 2023, we announced further cost reduction activities and an update on the previously announced review and evaluation of strategic alternatives. Due to challenging capital market conditions the Board determined that was in the best interests of the Company to immediately execute an additional operating cost reduction program, including an approximate 65% global headcount reduction by the end of the year and the closing of production in China. Going forward, the Company will be focusing its staffing and business development efforts on fuel cell stack design, development, production and testing based on the Company's proprietary eFlow technology. Business development efforts will include finding potential partners to support the existing install base and exploring options for its fuel cell modules and systems business.
  • 2023 年 8 月 1 日,我們宣佈,我們在韓國的增值分銷商 NGVI Inc. 已與該國第二個城市簽訂了氫電動巴士項目的供應合同。這個爲期兩年的政府項目,由KAR Co領導。Ltd.,氫電動巴士將於2024年在韓國蔚州郡投入運營。
  • 2023 年 8 月 1 日,我們宣佈,Loop Energy 已被一傢俱有重要全球影響力的知名特種車輛 OEM 選中爲新的消防車平台提供燃料電池系統。新的氫電動消防車將配備兩個Loop Energy的T505燃料電池系統。在推出計劃的第一階段,試點項目將使一輛汽車在西班牙機場投入運營。在後續階段,該OEM正在尋求擴大生產規模,以在其他地區使用,預計將於2023年第四季度開始生產。
  • 2023年9月12日,我們宣佈,Loop Energy和TYCROP製造有限公司被選中爲全球供應鏈領導者DP World試點項目提供氫電解決方案,以實現其在溫哥華港的橡膠輪胎龍門起重機(RTG)車隊脫碳。DP World的RTG試點項目的設計和製造由TYCROP領導,彙集了不列顛哥倫比亞省的公司財團,包括作爲燃料電池供應商的Loop Energy和用於氫燃料供應的HTEC。
  • 2023 年 9 月 19 日,我們宣佈了進一步的成本削減活動以及先前宣佈的戰略備選方案審查和評估的最新情況。由於資本市場條件艱難,董事會認爲立即執行額外的運營成本削減計劃符合公司的最大利益,包括到年底全球裁員約65%,以及關閉在中國的生產。展望未來,公司將把人員配備和業務發展工作重點放在基於公司專有eFlow技術的燃料電池堆設計、開發、生產和測試上。業務發展工作將包括尋找潛在的合作伙伴來支持現有的安裝基礎,以及探索其燃料電池模塊和系統業務的備選方案。

Financial Highlights Q3 2023

2023 年第三季度財務摘要

  • Year to date revenues for the 3 quarters ending September 30, 2023 of $1.7 million compared year to date revenues for the 3 quarters ending September 30, 2022 of $2.6 million
  • Revenues in the 3rd Quarter of 2023 of $0.4 million compared to revenues of $1.4 million for the 3rd Quarter in 2022
  • An Impairment loss of $4.8 million in the 3rd Quarter of 2023
  • Q3/2023 Operating expenses, net of cost recoveries, of $10.7 million (which includes the $4.8 million impairment loss) versus $7.5 million in Q3/2022
  • Q3/2023 Capital expenditures of $0.7 million compared to Q3/2022 Capital expenditures of $2.5 million
  • Q3/2023 Net loss of $14.7 million compared to a Net loss of $9.9 million in Q3/2022
  • Q3/2023 Loss per share of $0.43 compared to Q3/2022 Loss per share of $0.29
  • Q3/2023 cash and cash equivalents of $5.6 million compared to Q2/2023 cash and cash equivalents of $9.9 million
  • 截至2023年9月30日的三個季度的年初至今收入爲170萬美元,而截至2022年9月30日的三個季度的年初至今收入爲260萬美元
  • 3年的收入第三方 2023年季度爲40萬美元,而第三季度收入爲140萬美元第三方 2022年的季度
  • 3年的減值損失爲480萬美元第三方 2023 年季度
  • 2023 年第三季度扣除成本回收後的運營支出爲1,070萬美元(包括480萬美元的減值損失),而2022年第三季度爲750萬美元
  • 2023 年第三季度的資本支出爲 70 萬美元,而 2022 年第三季度的資本支出爲 250 萬美元
  • 2023年第三季度淨虧損爲1,470萬美元,而2022年第三季度的淨虧損爲990萬美元
  • 2023 年第三季度每股虧損爲 0.43 美元,而 2022 年第三季度每股虧損爲 0.29 美元
  • 2023 年第三季度的現金及現金等價物爲 560 萬美元,而 2023 年第二季度的現金及現金等價物爲 990 萬美元

Outlook

外表

  • On October 24, 2023, we announced that the Company had executed its first non-binding letter of intent and is considering other non-binding proposals for the acquisition of components of its module business. It is anticipated that any potential acquirers may become customers of our hydrogen fuel cell stack business.
  • On October 24, 2023, we announced that the Company had responded to a request for proposal to develop a new hydrogen fuel cell stack and is actively in discussions with a number of other parties with respect to fuel cell stack engineering and design services.
  • On October 24, 2023, we announced that the Company was engaged in discussions with potential new investors interested in supporting a smaller and more tightly focused company.
  • On October 24, 2023, we announced that the change in ownership of the Company's financial advisor Credit Suisse and the strategic direction of its new owner had required a termination of its engagement as financial advisor to Loop for the strategic alternative review process.
  • 2023年10月24日,我們宣佈該公司已執行其第一份不具約束力的意向書,並正在考慮收購其組件業務的其他不具約束力的提案。預計任何潛在的收購方都可能成爲我們氫燃料電池堆業務的客戶。
  • 2023年10月24日,我們宣佈,公司已回應開發新的氫燃料電池堆的徵求建議書,並正在與其他各方積極討論燃料電池堆工程和設計服務。
  • 2023年10月24日,我們宣佈公司正在與有興趣支持一家規模更小、重點更緊密的公司的潛在新投資者進行討論。
  • 2023年10月24日,我們宣佈,公司財務顧問瑞士信貸的所有權變更及其新所有者的戰略方向要求終止其作爲Loop財務顧問的聘用以進行戰略另類審查程序。

About Loop Energy Inc.

關於環路能源公司

Loop Energy is a leading designer and manufacturer of hydrogen fuel stacks targeted for the electrification of commercial vehicles such as buses and trucks, as well as stationary power applications. Loop Energy's products feature the company's proprietary eFlow technology in the fuel cell stack's bipolar plates. eFlow technology enables customers to achieve superior performance and higher fuel efficiency when using Loop Energy's fuel cell stacks, which lowers operating cost for end users while enabling OEMs to achieve lower capital cost and faster time to market. Loop Energy works closely with its partners to enable the production of hydrogen electric solutions. For more information about how Loop Energy is driving towards a zero- emissions future, visit .

Loop Energy是氫燃料堆的領先設計師和製造商,其目標是公共汽車和卡車等商用車輛的電氣化以及固定動力應用。Loop Energy的產品在燃料電池堆的雙極板中採用了該公司專有的eFlow技術。eFlow技術使客戶在使用Loop Energy的燃料電池堆時能夠實現卓越的性能和更高的燃料效率,從而降低最終用戶的運營成本,同時使原始設備製造商能夠降低資本成本和縮短上市時間。Loop Energy與其合作伙伴密切合作,以實現氫電解決方案的生產。有關Loop Energy如何邁向零排放未來的更多信息,請訪問。

Forward Looking Warning

前瞻性警告

This press release contains forward-looking information within the meaning of applicable securities legislation, which reflect management's current expectations and projections regarding future events including statements regarding the potential divestitures of its module business, and potential engagements with third-party developers and investors. Forward looking information also includes our assessment of the ability of the Company's eFlowtechnology to maintain uniform operation over time, the impact of such technology on fuel cell durability and the achievement of cost reduction, profitability and revenue targets; our future growth prospects and business outlook including without limitation the expected demand for our products, the allocation of resources and funds, the expected timeline for profitability, the planned growth of our customer base and the expected growth of our operations globally. Forward-looking information is based on a number of assumptions (including without limitation assumptions with respect to negotiations with third parties, the current and future performance of the Company's products, growth in demand for the Company's products and the Company's ability to execute on its current strategy), 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, risks associated with, and uncertainty regarding, the realization of costs savings from implementation of the Company's operating cost reduction program and benefits derived therefrom, the realization of electrification of transportation and hydrogen adoption rates, the elimination of diesel fuel and ongoing government support of such hydrocarbon fuels, the expected growth in demand for fuel cells in the commercial transportation market, our ability to obtain future patent grants for our proprietary technology and the effectiveness of current and future patents in protecting our technology as well as the other risk factors discussed under "Risk Factors" in the Company's Annual Information Form dated March 28, 2023 and in its other disclosure documents. Loop Energy disclaims any obligation to update these forward-looking statements.

本新聞稿包含適用證券立法所指的前瞻性信息,這些信息反映了管理層當前對未來事件的預期和預測,包括有關其模塊業務潛在剝離以及與第三方開發商和投資者的潛在合作的聲明。前瞻性信息還包括我們對公司eFlow能力的評估長期保持統一運營的技術、此類技術對燃料電池耐久性以及實現成本降低、盈利能力和收入目標的影響;我們未來的增長前景和業務展望,包括但不限於對我們產品的預期需求、資源和資金的分配、預期的盈利時間表、客戶群的計劃增長以及全球業務的預期增長。前瞻性信息基於許多假設(包括但不限於與第三方談判的假設、公司產品的當前和未來表現、對公司產品需求的增長以及公司執行當前戰略的能力),並受許多風險和不確定性的影響,其中許多風險和不確定性是公司無法控制的,可能導致實際結果和事件與公司披露或暗示的結果和事件發生重大差異這樣的前瞻性信息。此類風險和不確定性包括但不限於與以下方面相關的風險和不確定性:通過實施公司運營成本削減計劃實現成本節約及其帶來的收益;實現交通電氣化和氫氣採用率;取消柴油燃料以及政府對此類碳氫燃料的持續支持;商業運輸市場對燃料電池的需求的預期增長;我們未來獲得專有專利授予的能力技術以及當前和未來專利在保護我們技術方面的有效性,以及公司2023年3月28日的年度信息表和其他披露文件中 “風險因素” 下討論的其他風險因素。Loop Energy不承擔任何更新這些前瞻性陳述的義務。

Loop Energy Investor and Media Inquiries:

Loop Energy投資者和媒體查詢:

Ben Nyland | Tel: +1 604.222.3400 | investors@loopenergy.com

Ben Nyland | 電話:+1 604.222.3400 | investors@loopenergy.com

SOURCE: Loop Energy Inc.

來源:Loop Energy Inc.


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