- Pilot challenge to supply in-field proof of idea and operational knowledge
- Advancing a possible resolution for international utility firms to mix hydrogen and pure fuel
- JV structured to help potential future progress and extra partnerships
TORONTO, Sept. 20, 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 execution of a letter of intent (“LOI”) with Progressus Clean Technologies Inc. (“Progressus”) executed on September 12, 2022, to finish a three way partnership (“JV”) pilot challenge that goals to supply an answer for pure fuel utilities to straight energy each residential and industrial companies. Progressus is a venture-stage inexperienced know-how firm growing options for hydrogen era and separation, that are complementary to AFCP’s gas cell applied sciences. The JV is meant to supply proof of idea for every firm’s applied sciences and assess the flexibility to mix numerous Progressus applied sciences with AFCP gas cells to serve residential and small constructing clients throughout North America.
Figure 1- Channce Fuller, President and CEO of Progressus and Frank Carnevale, CEO of Alkaline Fuel Cell Power Corp. shake palms upon finalizing the LOI.
“Alkaline Fuel Cell Power is pleased to be working with the talented team at Progressus to combine our respective technologies and accelerate the ability for utility companies to utilize natural gas pipelines for the distribution of hydrogen for residential and commercial customers, more immediately,” mentioned Frank Carnevale, Chief Executive Officer of AFCP. “This JV pilot project is a key milestone in our goal of making zero emission fuel cells widely available, handing ‘power to the people’ so that individuals can both save on energy costs while positively contributing to global emission reduction targets.”
“The missions and combined vision of AFCP and Progressus are very complementary to one another. By leveraging the strengths of both organizations, we can more efficiently and effectively solve the growing need for innovative hydrogen solutions. The proposed JV pilot project with AFCP is an active step towards progressing hydrogen innovation and combining the suite of technologies that will ultimately be needed for global hydrogen solutions in the future.” mentioned Channce Fuller, Chief Executive Officer of Progressus.
Summary of the JV
To scale back the CO2 emissions around the globe, fuel distribution firms and municipalities are setting-up initiatives to inject hydrogen into the native fuel distribution grid. This fuel combination typically goals to include as much as 20% hydrogen and its use is focused for residential and industrial buildings.
AFCP and Progressus will work collectively to execute a JV pilot challenge using applied sciences from every firm to supply in-field proof-of-concept, generate operational knowledge that may inform continued improvement and market alternatives, and set up a platform to help future potential progress and extra partnerships. The actual location of the JV pilot challenge stays into account however initially, North America would be the focus with secondary precedence given to potential future pilots in Europe.
Progressus applied sciences allow the extraction of dilute hydrogen from fuel streams, a essential element as utility firms globally more and more attempt to inject hydrogen into pure fuel streams. Progressus represents an answer that may extract the hydrogen at excessive efficiencies, complementing AFCP’s low-cost mixed warmth and energy (“CHP”) alkaline gas cell and generator improvement.
The JV pilot challenge is designed to make use of the Progressus hydrogen separation know-how to effectively extract hydrogen at excessive purities from the prevailing pure fuel grid, after which convert the purified hydrogen utilizing both AFCP’s 4 kW Micro-CHP or 4 kW generator to provide electrical energy, and probably warmth. This challenge could possibly be put to speedy use in a residential dwelling or industrial constructing, offering actually zero-emission energy. AFCP has already recognized curiosity from pure fuel and electrical utilities and municipalities to pilot the idea.
By accelerating the distribution of hydrogen by way of pure fuel transportation networks, significantly in North America, gross sales of AFCP’s alkaline gas cell CHP models and generator methods could possibly be quickly scaled. Combining AFCP’s and Progressus’ applied sciences affords a super potential resolution to help the era of low carbon power that contributes to the world’s clear power transition.
Figure 2- AFCP’s conceptual designs for the 4 kW Micro-CHP and 10 kW Fuel Cell Generator methods
Background to the JV
The power sector at the moment contributes roughly three-quarters of international greenhouse fuel emissions and is due to this fact concurrently succesful of averting the worst results of local weather change1. To scale back CO2 emissions, fuel distribution firms and municipalities are advancing initiatives that facilitate the injection of hydrogen into the native fuel distribution grid as a cleaner power supply.
In the final two years alone, greater than two dozen hydrogen injection initiatives have been introduced within the U.S., with extra commitments outlined in early 20222. With the passing of the Inflation Reduction Act (IRA), there may be large momentum constructing for extra funding in clear hydrogen options. Beyond the U.S., the most important international fuel utilities (together with SoCalGas, Enbridge, ATCO Gas, Snam SpA, Enagas S.A., and Open Grid Europe, to call just a few) are all actively engaged on initiatives to inject hydrogen into their pure fuel grids3.
The proposed pilot challenge would initially cowl one extraction system linked to 1 4 kW Micro-CHP or generator system, with enlargement to a bigger scale in future pilots designed to supply clear hydrogen and energy for a number of residential customers or industrial purposes.
As the Company disclosed on August 26, 2002, AFCP is anticipating to have six prototype gas cells to make the most of inside pilots, globally.
Outlook for Second Half of 2022
On June 20, 2002, the Company supplied an outlook for the steadiness of 2022 and over the longer-term. As an instance, the Company indicated that it’s going to additional speed up and ramp up efforts to carry gas cells to market, globally. The Company additionally indicated that it’s going to look to safe extra strategic partnerships for the piloting and deployment of gas cells in North America.
With this announcement, AFCP is happy to proceed to satisfy its outlook aims for the second half of 2022.
ABOUT PROGRESSUS CLEAN TECHNOLOGIES
Progress Clean Technologies (previously AES-100 Inc.) is a enterprise stage inexperienced know-how firm centered on the event of novel hydrogen era and separation applied sciences. Progressus Clean Technologies owns the unique rights and mental property pertaining to the Advanced Electrolyzer System for the manufacturing of hydrogen from dilute syngas.
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 carry ‘Power to the People’ right this moment, combining a secure income stream with a future- ahead imaginative and prescient to commercialize our superior hydrogen gas cell know-how to satisfy the large international market want, and in the end generate compelling returns for traders.
AFCP operates by way of two international entities: Fuel Cell Power NV, an entirely owned subsidiary in Belgium, and PWWR Flow Streams (“PWWR Flow”), an AFCP model in Canada.
- Fuel Cell Power NV is targeted on the event, manufacturing and commercialization of micro- mixed warmth and energy (“micro-CHP”) methods and off-grid and back-up energy mills based mostly on superior alkaline gas cell know-how that generates zero CO2 emissions. Fuel Cell Power NV is working by way of milestones to ship a commercialized alkaline gas cell in 2024.
- PWWR Flow is targeted on the event, possession and operations of mixed warmth and energy (“CHP”) belongings. PWWR Flow belongings ship effectivity enhancements of over 20% with lowered prices to clients in multi-residential and industrial purposes. PWWR Flow has contracted present CHP belongings in Toronto, Canada, and has a further pipeline of potential contracts valued at over $50 million at the moment in improvement.
AFCP is nicely positioned to ship ‘Power to the People’ within the international power transition whereas providing a diversified cleantech progress platform for traders.
Further data is obtainable on the Company web site at https://www.fuelcellpower.com/, and the Company encourages traders and different stakeholders to observe it on:
LinkedIn, Twitter, Facebook, Instagram and YouTube. Common shares are listed for buying and selling on the NEO Exchange (“NEO”) below the image “PWWR”, the OTC Venture Exchange “OTCQB” below the image “ALKFF” and on the Frankfurt Exchange below image “77R” and “WKN A3CTYF”.
For additional data, please contact:
Frank Carnevale
Chief Executive Officer
+1 (647) 531-8264
[email protected]
Forward-Looking Information
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1 https://www.un.org/en/climatechange/net-zero-coalition
2 https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/gas-utilities-get-to-work-piloting-hydrogen-use-in-distribution-systems-69302367
3 https://www.reuters.com/business/cop/europes-gas-firms-prime-pipelines-hydrogen-highway-2021-11-18/
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