TORONTO, Oct. 11, 2022 (GLOBE NEWSWIRE) — Alkaline Fuel Cell Power Corp. (NEO: PWWR) (OTCQB:ALKFF) (Frankfurt: 77R, WKN: A3CTYF) (“AFCP” or the “Company”), a diversified funding platform growing reasonably priced, renewable, and dependable power belongings and cleantech, is happy to announce the launch of a brand new company video sequence designed to assist increase each client and investor consciousness in regards to the Company’s hydrogen gasoline cells, that are anticipated to be extremely cost-competitive relative to present energy alternate options in North America and Europe.
Numerous components underscore the necessity for hydrogen gasoline cells in its place for customers, together with power prices that proceed to rise for ever and ever; a scarcity of client advocacy round reasonably priced power provide; and the truth that hydrogen represents a important part in assembly carbon impartial commitments. AFCP is actively advancing options to those points, together with piloting the supply of hydrogen by means of pure fuel pipelines for purchasers and constructing out near-term income alternatives that complement progress on AFCP’s gasoline cell business for tomorrow.
“Within the current environment which sees consumers facing dramatic increases in energy costs, AFCP is launching an awareness program that highlights how cost-effective our fuel cells are expected to be compared to the current alternative, driven by expectations that green hydrogen costs could be as low as $1 per kg by 2031,” acknowledged Frank Carnevale, Chief Executive Officer of Alkaline Fuel Cell Power Corp. “To showcase the advantages of AFCP’s fuel cell technology, we’re using short videos as part of our business communications plan to increase the scale of our audience by nearly 9.5x. We are truly delivering ‘Power to the People’ by looking out for consumers and enabling them to manage spending in their daily lives and in the delivery of cost-competitive power.”
Affordable Green Hydrogen Supports Carbon Neutrality
Green hydrogen manufacturing applied sciences are seeing a renewed wave of curiosity propelling developments in hydrogen manufacturing away from fossil gasoline sources. Green hydrogen is produced by means of electrolysis, a course of that splits water into hydrogen and oxygen. As business continues to develop decrease value and better capability electrolyzers, the associated fee to provide clear hydrogen can obtain $1 per kg by 2031i in accordance with US Department of Energy. Further supporting inexperienced hydrogen growth are forecasts by organizations comparable to Global Markets Insight Inc. that point out the inexperienced hydrogen market may attain a valuation of USD 119 billion by 2030.ii
Low-Cost Power from Alkaline Fuel Cell Technology
In March 2022 within the United States, the typical value of pure fuel delivered to residential prospects was USD ~$0.046 per kWhiii. Almost half of the calculation is for the provisioniv. Assuming that inexperienced hydrogen manufacturing achieves USD $1 per kg by 2031, the equal value of hydrogen can be USD ~$0.06 per kWh (1kg of hydrogen has an power equivalency of ~33kWh). While the economics for hydrogen are in-line with the present prices to compress and ship pure fuel to prospects, since hydrogen will not be a fossil gasoline supply, it’s considerably cleaner. With no carbon emissions, inexperienced hydrogen is on tempo to be more cost effective than its pure fuel and grid alternate options for back-up and to fulfill peak energy calls for.
On September 20, 2022, the Company introduced a pilot undertaking with an entity growing a hydrogen separator expertise, designed to display the potential of every firm’s respective applied sciences to ship hydrogen by means of pure fuel pipelines. The Company will proceed to advance a number of options geared toward delivering hydrogen to prospects extra shortly and effectively. Over the approaching quarters, AFCP will present additional insights into the anticipated pricing of its gasoline cell items and the levelized working prices.
Significant Escalation in Electricity Pricing
Today, Toronto Hydro residential price payers pay as much as, and generally over, $0.20 per kWh all-in, for a spread of energy necessities all through the day. With anticipated electrical energy worth will increase, prospects could possibly be paying over $0.30 per kWh by 2030. In a report submitted to the City of Toronto’s government committee, Toronto Hydro has acknowledged it’s going to value as much as $10 billion to construct the expanded electrical energy distribution community wanted to get to internet zero emissions by 2050. According to the report, assembly that capital funding may end in annual price will increase of eight to 9 per cent for Toronto Hydro’s residential prospects, from 2025 to 2029. Between 2030 to 2034, charges may enhance by 5 to 6 per cent a yr, on common.v
Such challenges should not restricted to North America. Electricity charges in Europe are dramatically rising from their earlier highs realized in 2020, as proven in determine 1 beneath, as a consequence of restricted availability of pure fuel attributable to the warfare in Ukraine and Europe’s objectives associated to the power transition.
Figure 1– Electricity costs in Europe 2020 from highest to lowest
The energy from AFCP’s gasoline cell items is being designed to fulfill the demand for back-up and peaking energy necessities. This supply of energy can be reasonably priced, renewable and dependable in comparison with present choices.
Corporate Video Series
See how AFCP is actually bringing ‘Power to the People’ #PWWRtothePeople with the primary three movies in its ongoing sequence:
1. Going Way Up
2. Affordable, Renewable, Reliable
3. Meeting Carbon Neutral Commitments
The company movies could also be discovered on the Company web site and YouTube channels. The Company will roll out a complete social media marketing campaign over the approaching weeks and months to extend investor consciousness, as AFCP will get nearer to the demonstration of its 4 kW Fuel Cell mixed warmth and energy (“CHP”) items.
ABOUT ALKALINE FUEL CELL POWER CORP. (NEO: PWWR)
AFCP is a diversified funding platform growing reasonably priced, renewable, and dependable power belongings and cleantech. We convey ‘Power to the People’ at the moment, combining a secure income stream with a future-forward imaginative and prescient to commercialize our superior hydrogen gasoline cell expertise to fulfill the huge international market want, and finally generate compelling returns for buyers.
AFCP operates by means of two international entities: Fuel Cell Power NV, a completely owned subsidiary in Belgium, and PWWR Flow Streams (“PWWR Flow”), an AFCP model in Canada.
- Fuel Cell Power NV is concentrated on the event, manufacturing and commercialization of micro- mixed warmth and energy (“micro-CHP”) techniques and off-grid and back-up energy turbines primarily based on superior alkaline gasoline cell expertise that generates zero CO2 emissions. Fuel Cell Power NV is working by means of milestones to ship a commercialized alkaline gasoline cell in 2024.
- PWWR Flow is concentrated on the event, possession and operations of mixed warmth and energy (“CHP”) belongings. PWWR Flow belongings ship effectivity enhancements of over 20% with decreased prices to prospects in multi-residential and industrial functions. PWWR Flow has contracted present CHP belongings in Toronto, Canada, and has an extra pipeline of potential contracts valued at over $50 million at the moment in growth.
AFCP is nicely positioned to ship ‘Power to the People’ within the international power transition whereas providing a diversified cleantech development platform for buyers.
Further data is out there on the Company web site at https://www.fuelcellpower.com/, and the Company encourages buyers and different stakeholders to comply with us on: LinkedIn, Twitter, Facebook, Instagram and YouTube. Common shares are listed for buying and selling on the NEO Exchange (“NEO”) beneath the image “PWWR”, the OTC Venture Exchange “OTCQB” beneath the image “ALKFF” and on the Frankfurt Exchange beneath image “77R” and “WKN A3CTYF”.
For additional data, please contact:
Frank Carnevale
Chief Executive Officer
+1 (647) 531-8264
[email protected]
Forward-Looking Information
This information launch comprises forward-looking statements and forward-looking data inside the which means of relevant securities legal guidelines. These statements relate to future occasions or future efficiency. All statements different than statements of historic truth could be forward-looking statements or data. In sure circumstances, forward-looking statements can be recognized by the use of phrases such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” or variations of such phrases and phrases or statements that sure actions, occasions or outcomes “may”, “could”, “would”, “might”, “occur” or “achieve”. Forward-looking statements on this information launch could embrace, however should not restricted to, the Warrant Amendments and timelines related therewith, the Option Amendments and timelines related therewith, the Special Meeting, statements with respect to the Company’s expertise, mental property, business plan, aims and technique.
Forward-looking statements and data are offered for the goal of offering data in regards to the present expectations and plans of administration of the Company regarding the long run. Readers are cautioned that reliance on such statements and knowledge might not be acceptable for different functions, comparable to making funding choices. Since forward-looking statements and knowledge handle future occasions and circumstances, by their very nature they contain inherent dangers and uncertainties. Actual outcomes may differ materially from these at the moment anticipated due to a quantity of components and dangers. Accordingly, readers ought to not place undue reliance on the forward-looking statements and data contained on this information launch. Readers are cautioned that the foregoing listing of components will not be exhaustive. The forward-looking statements and data contained in this information launch are made as of the date hereof and no endeavor is given to replace publicly or revise any forward-looking statements or data, whether or not as a consequence of new data, future occasions or in any other case, except so required by relevant securities legal guidelines. The forward-looking statements or data contained on this information launch are expressly certified by this cautionary assertion.
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i ANALYSIS | US unveils draft nationwide clear hydrogen technique and roadmap — with three key priorities | Recharge (rechargenews.com)
ii Green Hydrogen Market to worth USD 119 Billion by 2030: Global Market Insights Inc. (yahoo.com)
iii Natural fuel costs all over the world, March 2022 | GlobalPetrolPrices.com
iv What Makes Up the Price of Gas | Business Juice Energy
v Hydro price hikes, widespread toll roads, free transit half of Toronto’s ‘aggressive’ plan for combating local weather change | The Star
