Vancouver –– March 28, 2017 –– LOOPShare Ltd. (TSX-V: LOOP) (“LOOPShare”), a global provider of electric scooter shared fleet services and technology location-based fleet Telematics services, has successfully completed the experimental studies of the 30 electric scooter sharing fleet services in Naha, Okinawa. This project was supported by the subsidy (Subsidy Program for Global Innovation Centers) of JETRO, a Japan government-related organization that works to promote mutual trade and investment between Japan and the rest of the world. This subsidy subsidizes the cost of companies from overseas for experimental studies etc., regarding innovative technology and services, in collaboration with Japanese companies and other organizations in Japan.
The goal of this project is to introduce the solution of LOOPShare into the Japanese market. As its first phase, Loop Japan verified whether the operational information of the electric scooter can cooperate with the web application and the mobile application system without any problems. In addition to Japanese, the system is available in three other languages including Chinese (Mandarin and Cantonese), Korean, English, which makes it useful to tourists who come to Okinawa Prefecture and with regard to the collected data, the project aims to lead to the tourism promotion.
“Loop is now in Naha, Okinawa and that is a significant achievement for LOOPShare and Loop Japan”, said Anwar Sukkarie, President and Chief Executive Officer of LOOPShare. “Thanks to JETRO’s subsidy, their vision, and their support, Loop Japan is now a going concern in Japan that will offer our Loop service commercially this summer. LOOPShare is driven by a global vision, and the system in Japan is a proof that our vision is becoming a reality”.
Loop Japan K.K has a local team in Tokyo and has contracted a Zone Operator in Naha to provide the day-to-day operations of the Loop scooters, with future fleet growth in due course. LOOPShare is planning to extend the investment in Japan driven by forecasted demand for the Loop service as Japan moves forward with its plans for the Tokyo 2020 Summer Olympics.
In addition, Loop Japan has been selected for the Ministry of Internal Affairs and Communications’ second supplementary budget for 2017 for the support of the development of IoT service in the sharing economy field. This project will take place in Kamakura this year.
About LOOPShare Ltd.
LOOPShare Ltd. (TSX-V: LOOP) a Vancouver company established in 2009 (formerly Known as Kenna Resources Corp.) and its wholly owned subsidiary Saturna Green Systems Inc. have commercialized a first generation, a wireless ruggedized 7” touchscreen dashboard with Telematics functionality for electric inner-city vehicles. LOOPShare’s highly specialized display enables a broad range of services for consumer, tourism or commercial use.
LOOPShare’s purpose is to develop and deploy connected end-to-end solutions for inner-city transportation vehicles, specifically geared toward Transportation as a Service (“TaaS”). Through Zone Operators worldwide, LOOPShare will implement TaaS solution to offer Commuter Convenience and Tourist applications to subscribers based on LOOPShare’s commuter/tourism/business-focused, unique, state-of-the-art wireless two-wheel electric sharing technology. “Loop” is a trademark of LOOPShare Ltd. For further information, please visit www.loopscooters.com.
Forward Looking Statements
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the Company’s business plans and the outlook of the shared transportation industry. Although the Company believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, its subsidiaries, their securities, or their respective financial or operating results (as applicable).
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