VANCOUVER, BRITISH COLUMBIA, February 19, 2019 – LOOPShare Ltd. (TSX-V: LOOP) (OTC: LPPPF), world’s first fully-integrated electric scooter sharing platform, has announced new safety features for its sit-down Loop™ e-Scooter that it believes will be industry firsts.
“As we launch the global expansion of our Loop e-Scooters rideshare platform, rider safety and education remain our top priority,” noted LOOPShare president and CEO, Anwar Sukkarie. “Our unique scooter design and telematics provide competitive advantages that make our scooters more desirable to ride. However, most important are their passive and active safety features, and particularly these latest innovations we’re announcing today.”
While Loop scooters already have all the industry-standard safety features, like speed limiters and requiring the kickstand to be up before the throttle engages, LOOPShare now takes safety a step further with intelligent sensor technology that requires riders to be securely seated.
Every Loop scooter also features a 7-inch touchscreen dashboard that provides interactive instructions that enhance rider safety, like friendly reminders to be fully seated and wear the provided helmet. These features are now further enhanced by the scooter being able to detect whether the helmet has been removed from the cargo box and requiring the rider to confirm the helmet is on, all before the ride can begin.
As an additional level of safety monitoring that is also unique, the Loop’s wireless telematics communicate this activity to the remote Loop Zone™ Operator. This allows real-time monitoring of safety conditions, like making sure the helmet remains available to the next rider. The scooter’s intelligent telematics can also be set to alert operators about critical events, like low tire pressure, system malfunction, or even if an accident has occurred. Field staff can then be immediately deployed to the scooter’s location via its GPS locator.
“All of these safety features can not only better protect the rider and facilitate more efficient operations, but we believe they can also diminish liability and lower insurance costs,” said Sukkarie. “This is yet another key advantage that can increase profitability for us and our Loop Zone Operators.”
“To be sure, we see these new safety features as just the start,” added Sukkarie. “Supported by our expertise and many years of experience in fleet management and telematics, our technology roadmap outlines the introduction of additional safety features later in 2019 and beyond.”
LOOPShare Ltd. is an emerging global leader in ridesharing, micro-mobility and sustainable transportation. Through its wholly owned subsidiary, Saturna Green Systems Inc., it has commercialized a first generation, wireless ruggedized 7-inch 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 offers connected end-to-end solutions for inner-city transportation vehicles specifically geared toward Transportation-as-a-Service (TaaS). Through Zone Operators worldwide, LOOPShare is implementing TaaS solutions that offer commuter convenience and tourist applications to subscribers based on LOOPShare’s state-of-the-art, wireless electric two-wheel vehicle sharing technology. To learn more, visit www.loopscooters.com.
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Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” concerning anticipated developments and events related to LOOPShare Ltd. (or the “Company”) that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to (i) the availability of, and benefits from, the Company’s various e-Scooter safety features, (ii) the Company’s competitive advantages; (iii) the functionality of the Company’s technology; (iv) the Company or Zone Operators future profitability; and (v) the Company’s growth plans.
In certain cases, forward-looking information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “scheduled”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, or “be achieved” suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the accuracy, reliability and applicability of the Company’s business model; the timely receipt of governmental approvals; the timely receipt of e-scooters by the Company ; the success of existing and future operations; the ability of the Company to implement its business plan as intended; the Company’s ability to access financing necessary to implement its business plan; the regulatory environments of the jurisdictions where the Company will carry on business or have operations; the impact of competition; and the availability of e-scooters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks related to acts of God, the impact of general economic conditions, changing domestic and international transportation industry conditions, increases in operating costs, terrorism, currency fluctuations, interest rates, risks specific to the transportation industry, the ability of management to implement the Company’s operational strategy, the ability to attract qualified management and staff, labour disputes, regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks, including the risk that the financing necessary to fund operations may not be obtained and the additional risks identified in the “Risk Factors” section of the Company’s reports and filings with applicable Canadian securities regulators.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update any forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
Loop is a trademark of LOOPShare Ltd.