GreenCore and Loop Energy Partner to Develop Hydrogen-Powered EV Charging Stations
GreenCore and Loop Energy announce entry into a partnership focusing on the design and development of hydrogen-powered fast-charging stations.
GreenCore EV Services LLC is renewable energy and an environmentally-focused company that aims to provide the world with an updated electric vehicle (EV) charging infrastructure. GreenCore uses a proprietary “universal” infrastructure system to develop, deliver, and manage EV charging sites.
The company’s system was developed to deliver EV charging sites more expediently to meet the demand incurred by the rise in EVs. Last month, both GreenCore and a developer of clean energy transportation systems, Loop Energy, announced their entry into a partnership to develop and construct hydrogen-powered EV charging stations. Loop Energy specializes in the development of hydrogen fuel cell systems for vehicle original equipment manufacturers (OEMs) and power generation system manufacturers.
Image used courtesy of GreenCore
The Future of EVs
Across the globe, over 2.1 million cars were reported to be sold in 2019. Sales in 2019 exceeded what were record sales in 2018. During the coronavirus pandemic, automakers have been hit hard by the semiconductor chip shortage, and production of electric vehicles of all kinds has been slowed down or halted altogether. The EV market is still growing, as companies use their ingenuity and create new models and make new deals to get business back on track. Electric vehicles are a critical part of a global goal of reaching carbon neutrality in the near future. Concerning this, EV vehicle stock (excluding two/three-wheelers) has been projected to grow by 36% annually, reaching 245 million vehicles in 2030 – more than 30 times above today’s level. The world will need a well-distributed, accessible EV charging infrastructure.
A Partnership for Hydrogen-Powered EV Charging Stations
With Loop Energy’s fuel cell technology, GreenCore will work with the former company to create hydrogen-powered direct current (DC) fast-charging stations. GreenCore’s new charging stations are expected to be grid-independent, cost-effective, quick to deploy, and generate a small footprint. The stations will store compressed hydrogen for conversion into electricity when required. GreenCore and Loop Energy hope that the technology will help solve the challenges concerning peak energy pricing and access to energy in remote areas. BayoTech will be providing hydrogen to GreenCore for all of its EV charging and hydrogen refueling stations.
Image used courtesy of Loop Energy
In a news release, the CEO of GreenCore, Frank Baumann, commented: "Loop Energy is the perfect partner to work alongside GreenCore in building better, faster, and greener EV charging stations.” Baumann added: "Together, we will be able to cut peak energy costs and deliver charging points in previously unimaginable locations."
In the same news release, the CCO of Loop Energy, George Rubin, said: "As the electrification of personal and commercial transportation is going into overdrive, the timing for GreenCore's hydrogen-powered DC fast-charge solution is perfect.” Rubin added: "Easily overlooked during the early going, limited grid infrastructure capabilities present a serious issue. We are very excited to support our partners at GreenCore as they roll out their solution."