“Alkaline Fuel Cell Power is proud to announce the unveiling of the prototype of our much-anticipated alkaline fuel cell system,” commented
On
Figure 1- PWWR’s Save the Date sent out to investors and industry peers on
Innovation of the Alkaline Fuel Cell System
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. PWWR has been working to optimize innovation for hydrogen-powered fuel cells that operate in an alkaline environment. As a result, this technology requires fewer components compared to conventional fuel cells and also eliminates the need for expensive, precious metals such as platinum which have traditionally been required in the electrodes. These systems will therefore be more cost-effective to build and offers a competitive advantage over existing systems.
PWWR’s planned commercialized units include the micro-combined heat and power (“micro-CHP”) assets, and the off-grid and back-up power generators (“fuel cell generators”) systems. PWWR’s prototype launch of this 4kW alkaline fuel cell unit marks an important milestone for the continued success of the Company and brings PWWR closer to offering its cleantech solutions to a global market.
Management Update
The Company also announces that as
Achieving Second Half 2022 Target and Goals
As per PWWR’s
ABOUT ALKALINE FUEL CELL POWER CORP.
The Company is a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech. We bring ‘Power to the People’ today, combining a stable revenue stream with a future-forward vision to commercialize our advanced hydrogen fuel cell technology to meet the massive global market need, and ultimately generate compelling returns for investors.
The Company operates through two global entities:
- Fuel Cell Power NV is focused on the development, production and commercialization of micro-combined heat and power (“micro-CHP”) systems and off-grid and back-up power generators based on advanced alkaline fuel cell technology that generates zero CO2 emissions.
Fuel Cell Power NV is working through milestones to deliver a commercialized alkaline fuel cell in 2024. - PWWR Flow is focused on the development, ownership and operations of combined heat and power (“CHP”) assets. PWWR Flow assets deliver efficiency improvements of over 20% with reduced costs to customers in multi-residential and commercial applications. PWWR Flow has contracted existing CHP assets in
Toronto, Canada , and has an additional pipeline of potential contracts valued at over$50 million currently in development.
The Company is well positioned to deliver ‘Power to the People’ in the global energy transition while offering a diversified cleantech growth platform for investors.
Further information is available on the Company website at https://www.fuelcellpower.com/, and the Company encourages investors and other interested stakeholders to follow it on:
LinkedIn, Twitter, Facebook, Instagram and YouTube. Common shares are listed for trading on the NEO under the symbol “PWWR”, the
For further information, please contact:
Frank Carnevale
Chief Executive Officer
+1 (647) 531-8264
fcarnevale@fuelcellpower.com
www.fuelcellpower.com
Forward-LookingInformation
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 information. In certain cases, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “achieve”. Forward-looking statements in this news release may include, but are not limited to, the topics for discussion at the upcoming event, , the technology and innovations relating to the Alkaline Fuel Cell System, the commercialization of micro-CHP and fuel cell generators, including PWWR’s prototype launch of this 4kW alkaline fuel cell unit, expected results relating to PWWR’s technology and proposed products.
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 information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
NEITHER THE NEO EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE NEO EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
A graphic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4ac6639b-594b-4606-942e-774d2eb4740b
Figure 1
PWWR’s Save the Date sent out to investors and industry peers on November 17, 2022
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