Loop Energy announced a cooperative market development agreement with Técnicas Reunidas (TR), a global provider of services to hydrogen infrastructure investors headquartered in Madrid, Spain.

Both parties intend to capitalize on future prospects that will require both TR’s hydrogen expertise and Loop Energy’s fuel cell technology.

This joint market agreement’s initial scope is focused on providing hydrogen-based solutions to several key vertical markets, including transportation agencies, truck, transit, and coach bus fleets, materials handling, warehouse and port logistics, including drayage, urban delivery services, and stationary power applications.

Loop will be able to provide more convenient and cost-effective hydrogen solutions to their global consumers with the support of TR’s on-site production and supply equipment, which generates hydrogen by water electrolysis and steam reforming of natural gas, biogas, or bioethanol. Loop and TR are also exploring collaboration potential to build solutions that combine Loop’s eFlow fuel cell technology with TR’s expertise and experience in hydrogen technologies.

“We are ready to embark on this partnership with Loop Energy and strongly believe our experience in hydrogen technologies, paired with Loop’s proprietary eFlow technology, will aid in building a robust hydrogen electric vehicle market across North America and globally by simplifying the path to FCEV adoption,” said Miguel Angel Vega of Técnicas Reunidas.

“Our collaboration with Técnicas Reunidas is a major milestone in widening the hydrogen ecosystem and supporting our OEM customers in the market and sales channel development process,” said George Rubin, Chief Commercial Officer of Loop Energy. “This is yet another progressive chapter in the global acceleration of hydrogen adoption and we are excited to provide our clients with access to a broad range of the best-in-class hydrogen technology available through partnerships like these.”