A sharing culture has taken the world by storm, maybe not so much in a "one-world-one-love" philosophy, but certainly in a business sense. Transportation is a part of this culture, including the efforts of LOOPShare Ltd. (TSX-V:LOOP), a Vancouver-based provider of electric scooter shared fleet services and technology.
The company is focused on developing and deploying turnkey solutions for inner city transportation, more succinctly Transportation as a Service, or TaaS for short.
LOOP is aiming for worldwide market penetration through what it calls "Zone Operators," which will implement and oversee TaaS solutions in specific regions.
Along with E-Sharing Scooters, its potential Zone Operator in Miami-Dade county, Florida, LOOPShare announced signing a three-month TaaS field trial agreement to deploy the system in Miami.
The field test in Miami marks the very first deployment in the U.S. of LOOPShare technology. The company intends to roll out the program throughout other cities this year with plans for a commercial launch in 2018.
LOOPShare has received a purchase order from E-Sharing Scooters and a down payment for the project. The scooters are not yet ready for deployment and no start date for the trial has been determined.
LOOP only said that an announcement of a probram commencement will come during the third quarter.
Shares of LOOP hit a one-year low of nine cents last week and have edged up from Friday's 10-cent close on today's news to 10.5 cents, although on only about 45,000 in volume.
