Alkaline Fuel Cell Power Corp. Provides Milestones to Commercialization
19 Agosto 2021 - 02:00AM
Alkaline Fuel Cell Power Corp. (NEO: PWWR)
(Frankfurt: 77R, WKN: A3CTYF) ("
AFCP" or the
"
Company"), a company engaged in the development
and production of alkaline fuel cell heat and power systems for
residential, industrial and commercial markets worldwide, today
provides shareholders the milestones and objectives to
commercialization of a micro-combined heat and power (“Micro-CHP”)
system (the “New System”) being built within a 4kW system prototype
that features a lower cost with higher energy density, and is
adaptable for deployment across new applications.
AFCP’s New System is expected to be delivered in
a compact, containerized format that will allow for ease of
scalability to accommodate higher output capacities and represents
a cleaner alternative energy source for domestic and commercial
buildings across Europe.
With hydrogen serving as the power source,
AFCP’s New System offers benefits to decarbonise industrial
processes, reduce greenhouse gas emissions and offer a cleaner
energy solution. Hydrogen has the potential to serve as a
feedstock, a fuel or energy, offering numerous potential uses with
zero CO2 emissions. These factors also make hydrogen essential to
support the European Union’s commitment to reach carbon neutrality
by 2050 while striving to achieve zero pollution.
AFCP Milestone Summary
- AFCP intends to
apply for six patents in connection with its new, Micro-CHP
alkaline fuel cell technology over the coming 12 months;
- Completion of
the first electrode and stack production for the prototype system
is expected by the end of March, 2022;
- Completion of
the first full 4kW system in a laboratory configuration is
anticipated by the end of 2022;
- Receipt of
Conform European (CE) accreditation (a European Union product
traceability system) along with the installation of the first of
two 4kW prototype systems is forecast by the end June, 2023;
and
- Achieving
commercialization of the New System is targeted for the end of
2024.
While the Company actively strives to advance
commercial production of the New System and meet the milestones
outlined above, work will steadily continue on ongoing design,
development, assembly and testing of lab-scale systems. Following
refinement of the overall system design based on results from
lab-scale testing, AFCP can move to development, assembly and
testing of field trial systems, which feature regular monitoring
and support. The Company will then undertake regulatory testing and
refinement of the system design and continue with development of
ancillary equipment such as system enclosure options, with the
final phases including confirmation of shipping, installation,
commissioning and final support documentation in concert with
commercialization.
About Alkaline Fuel Cell Power
Corp.
The Company is focused on the development,
production and commercialization of micro-combined heat and power
(“micro-CHP”) systems based on alkaline fuel cell technology. A
fuel cell is a clean electrical power conversion/generation system,
akin to small power stations that provide electricity and an
equivalent amount of heat for various purposes. Based on hydrogen
powered alkaline fuel cell technology, our technology offers an
energy source that generates zero CO2 emissions with pure water as
the only by-product, making it ideally suited for residential and
small- to medium-sized power markets. We believe Fuel Cell Power is
well positioned to become a positive contributor to the global
demand for clean energy, particularly in Europe where demand
outpaces supply, and current technology remains inadequate to meet
market needs. Further information is available on our website at
https://www.fuelcellpower.com/ and we encourage investors and other
interested stakeholders to follow us on LinkedIn, Twitter,
Facebook, Instagram and YouTube. Our common shares are listed for
trading on the NEO Exchange (“NEO”) under the symbol “PWWR” and on
the Frankfurt Exchange under symbol 77R and WKN A3CTYF.
For further information, please
contact:
Gerard SauerChairman of the Advisory
Board+3214574648info@fuelcellpower.com |
Cindy GrayInvestor Relations+1 (403)
705-5076info@5qir.com |
Eugene BeukmanDirector+1 (604)
687-2038info@fuelcellpower.com |
Forward-Looking Information
This news release contains forward‐looking
statements and forward‐looking information within the meaning of
applicable securities laws. These statements relate to future
events or future performance. All statements other than statements
of historical fact may be forward‐looking statements or
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or statements that certain actions, events or results “may”,
“could”, “would”, “might”, “occur” or “achieve”. Forward-looking
statements may include, but are not limited to, statements with
respect to the Company’s technology, intellectual property,
business plan, objectives and strategy.
Forward-looking statements and information are
provided for the purpose of providing information about the current
expectations and plans of management of the Company relating to the
future. Readers are cautioned that reliance on such statements and
information may not be appropriate for other purposes, such as
making investment decisions. Since forward‐looking statements and
information address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Actual
results could differ materially from those currently anticipated
due to a number of factors and risks. Accordingly, readers should
not place undue reliance on the forward‐looking statements and
information contained in this news release. Readers are cautioned
that the foregoing list of factors is not exhaustive. The
forward‐looking statements and information contained in this news
release are made as of the date hereof and no undertaking is given
to update publicly or revise any forward‐looking statements or
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forward-looking statements or information contained in this news
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ADEQUACY OR ACCURACY OF THIS RELEASE.
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