Loop Energy Appoints Kent Thexton as Director and Chair of the Board

VANCOUVER, BRITISH COLUMBIA – June 16, 2022 – Loop Energy™ (TSX: LPEN) appoints experienced technology industry leader Kent Thexton as a Director and Chair of the Board with immediate effect. Former Chair, Dr. Andreas Truckenbrodt, will continue as a Director.

Kent brings over 30 years of experience leading and growing a diverse range of technology companies. Most recently, he spent three years as the CEO and President of Sierra Wireless, a global leader in wireless communications solutions. Prior to his tenure as CEO, Kent served Sierra Wireless as a Director and Chair of the Board for a total of 13 years.

Kent is an accomplished senior executive and director in large corporations and entrepreneurial ventures, and he will provide valuable oversight to the management team. Along with his extensive experience navigating public markets, he brings expertise in corporate leadership, growth marketing and technology company operations.

“I am excited to join Loop Energy and share my experience with the board and management team as we continue to grow,” said Kent Thexton. “Andreas has done a tremendous job of guiding the company over the last few years, and I look forward to building on this success with him and the rest of the board.”

“We are incredibly fortunate to welcome Kent as a Director and Chair of the Board,” said Loop Energy President & CEO, Ben Nyland. “He is an experienced leader with a great record of creating value at several successful public companies. I would like to thank Andreas for the eight years he spent as Chair and the guidance he provided to the management team.”

In addition to Sierra Wireless, Kent has contributed to the boards of several public companies, including Redknee Solutions, now known as Optiva (TSE:OPT), a Canadian provider of telecommunication operations software and services, and O2 PLC (NYSE:FTSE), a British telecommunications company. Kent also has extensive experience leading Canadian capital venture companies, including as the Managing Director at OMERs Ventures and the founder of ScaleUP Venture Partners.

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™ is 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.

Source: Loop Energy Inc.

Investor Inquiries:

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