ALKALINE FUEL CELL POWER CORP. (NEO: PWWR) (OTCQB:ALKFF) (Frankfurt: 77R, WKN: A3CTYF) (“AFCP” or the “Firm”) a diversified funding platform growing inexpensive, renewable, and dependable vitality property and cleantech, is happy to spotlight our first half 2022 milestones and supply our outlook for the second half of the yr and past.
“Along with ongoing success within the growth of our alkaline gasoline cell expertise, AFCP is prudently diversifying into property providing extra instant income potential to help its eventual transition to gross sales of alkaline gasoline cells,” commented Frank Carnevale, Chief Govt Officer. “I am happy to announce that AFCP is advancing its acquisitions, investments and scaling of our vitality asset enterprise actions over the second half of 2022.”
Highlights for the First Half of 2022
Via the primary six months of 2022, the Firm efficiently introduced and achieved the next milestones:
- Acquired AI Renewable’s CHP (mixed warmth and energy) enterprise, initially introduced on March 4 and closed on April 22 , gaining a pipeline of potential initiatives together with an estimated $50 million of extra CHP programs that may be introduced into business operation over the following 24-36 months, which has the potential to generate gross income as much as ~$16.6 million, potential EBITDA as much as ~$7.7 million and potential internet revenue as much as ~$1.6 million, ought to all potential CHP programs be introduced into business operations;
- Listed the Firm’s shares on the OTCQB March 28 th underneath the ticker “ALKFF”;
- Appointed new CEO , Frank Carnevale, efficient Might 10 th to drive our international progress in vitality transformation;
- Achieved the primary key milestone within the growth of our hydrogen gasoline cell, introduced on Might 19 th , with the profitable creation of a functioning, bench check, single stack and system operation at working temperature, which helps AFCP’s drive in the direction of commercializing a 4kW Micro-CHP system;
- Rebranded AI Renewable’s CHP enterprise to PWWR Circulate Streams (“PWWR Circulate”) and unveiled a complementary new company tag line, “PWWR to the Folks” on June 8 th consistent with the notion of offering energy on to prospects on their websites, and aligned with our perception that the vitality transition to a zero carbon economic system should empower the plenty to take management of their vitality wants: PWWR to the Folks ; and
- Appointed Carmine Marcello as Advisor on June 16, bringing experience as the previous President and CEO of Hydro One Inc., one in all Canada’s largest electrical transmission and distribution utilities with a market cap of over $20 billion and over $23 billion in property.
Diversification and Energy in Focus for Second Half of 2022 and Past
For the steadiness of 2022 and over the longer-term, AFCP has recognized quite a few targets and objectives we’re striving to understand throughout a number of strains of our enterprise. Along with enhancing our secure income stream, we’re centered on a future-forward imaginative and prescient to commercialize our superior hydrogen gasoline cell expertise to fulfill the large international market want, and in the end generate compelling returns for buyers. Outlined under are a number of of our aims:
Company Initiatives
- Improve monetary flexibility by exploring alternatives to leverage using flow-through shares to reduce AFCP’s fairness necessities for ongoing growth and development of CHP initiatives;
- Determine, nurture and execute on strategic acquisitions of extra enticing vitality property, earnings-positive service firms within the energy and vitality house, and/or synergistic clear expertise property or firms; and
- Supply and safe working capital for acquisitions and progress capital, as could also be required.
Ongoing Progress of PWWR Circulate Streams
- Increase the Firm’s asset set up base leveraging our ongoing income and earnings generated via PWWR Circulate as we proceed to develop the $50 million value of PWWR Circulate initiatives in our pipeline over the following two years.
Proceed to Progress Commercialization of Gasoline Cell Energy NV
- Obtain subsequent important milestone on the trail to reaching a completely functioning 4kW gasoline cell system inside a laboratory configuration;
- Additional speed up and ramp up efforts to deliver gasoline cells to market, globally;
- Develop and implement methods to determine large-scale and cost-effective gasoline cell manufacturing capabilities; and
- Safe extra strategic partnerships for the piloting and deployment of gasoline cells in North America.
Research point out that North America’s CHP business is projected to succeed in over US$800 million, propelled by favorable regulatory insurance policies towards internet vitality metering, mixed with rising demand for captive energy era and rising client inclination towards sustainable vitality. Growing considerations about GHG emissions coupled with improved effectivity, reliability and security throughout cogeneration items are anticipated to additional propel product adoption 1 . Globally, the CHP market is anticipated to develop from an estimated US$26.6 billion in 2021 to US$35.2 billion by 2026, at a CAGR of 5.8%. 2 The mix of those macro components represents a supportive atmosphere for AFCP to proceed deploying our PWWR Circulate programs to prospects throughout North America, which offers a secure income stream whereas we proceed to develop our superior hydrogen gasoline cell expertise and convey ‘PWWR to the Folks’ .
ABOUT ALKALINE FUEL CELL POWER CORP. (NEO: PWWR)
AFCP is a diversified funding platform growing inexpensive, renewable, and dependable vitality property and cleantech. We deliver ‘Energy to the Folks’ at present, combining a secure income stream with a future-forward imaginative and prescient to commercialize our superior hydrogen gasoline cell expertise to fulfill the large international market want, and in the end generate compelling returns for buyers.
AFCP operates via two international entities: Gasoline Cell Energy NV, a completely owned subsidiary in Belgium, and PWWR Circulate Streams (“PWWR Circulate”), an AFCP model in Canada.
- Gasoline Cell Energy NV is concentrated on the event, manufacturing and commercialization of micro-combined warmth and energy (“micro-CHP”) programs primarily based on superior alkaline gasoline cell expertise that generates zero CO 2 emissions. Gasoline Cell Energy NV is working via milestones to ship a commercialized alkaline gasoline cell in 2024.
- PWWR Circulate is concentrated on the event, possession and operations of mixed warmth and energy (“CHP”) property. PWWR Circulate property ship effectivity enhancements of over 20% with decreased prices to prospects in multi-residential and business functions. PWWR Circulate has contracted present CHP property in Toronto, Canada, and has an extra pipeline of potential contracts valued at over $50 million at present in growth.
AFCP is nicely positioned to ship ‘Energy to the Folks’ within the international vitality transition whereas providing a diversified cleantech progress platform for buyers.
Additional data is accessible on the Firm web site at https://www.fuelcellpower.com/ , and the Firm encourages buyers and different stakeholders to observe it on:
LinkedIn , Twitter , Fb , Instagram and YouTube . Frequent shares are listed for buying and selling on the NEO Trade (“NEO”) underneath the image ” PWWR “, the OTC Enterprise Trade “OTCQB” underneath the image ” ALKFF ” and on the Frankfurt Trade underneath image ” 77R ” and ” WKN A3CTYF “.
For additional data, please contact:
Frank Carnevale
Chief Govt Officer
+1 (647) 531-8264
fcarnevale@fuelcellpower.com
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