As we know, fuel prices are one of today’s most pressing issues in the world economy and are constantly increasing at an eye-popping rate. Loop Energy, a manufacturer of hydrogen fuel cells, has swung into action and presented its latest hydrogen fuel cell system with a claim to be more efficient than conventional diesel engines. In addition to this, the company stated that their fuel cells will operate on an economy-of-scale model, which will be much better and more affordable than operating at the cost of diesel in current times.
According to the estimates by a British Columbia-based company, The Burnaby; a typical diesel truck has the capacity to travel around 109 miles at a cost of $1.91 per liter as per Sept 5 statistics. On the other hand, a truck based on $10 per kg of hydrogen fuel can cover a distance of 111 miles by using its contemporary S1200 hydrogen fuel cell system. This would also contribute toward the goal of achieving “zero energy emissions,”, especially for electric vehicles. In view of this, different freight truck manufacturers like Daimler Truck and Volvo are making efforts to shift to hydrogen fuel cell systems because we know how much these typical batteries cost the trucks in terms of fuel consumption and range parameters while traveling long distances.
The mechanism of these hydrogen fuel cells is based on a catalyst that powers hydrogen through this which in turn provides energy and heat to the battery integrated with a truck. It should be noted that the hydrogen fuel cells power a small battery which is then useful in the functioning of the truck. One of the benefits of using hydrogen fuel cells in trucks is that only water is emancipated as an “emission” from the process. This seems really beneficial for the environment.
According to Loop Energy Chief Executive Ben Nyland, “This brings the future forward. This product delivers the economics that is needed for adoption today. ” Coupled with this, the U.S engine maker company, Cummins (CMI.N), has a dominance of holding up to 20% shares in Loop Energy and is also the biggest shareholder of the company.
