Alkaline Fuel Cell Power Corp. Announces Launch of Corporate Video Series Highlighting Benefits of Hydrogen Fuel Cells in Fighting Rising Energy Costs, The Canadian Business Journal

TORONTO, OCTOBER 11, 2022 (GLOBE NEWSWIRE) — Alkaline Fuel Cell Power Corp. (NEO: PWWR) (OTCQB:ALKFF) (Frankfurt: 77R, WKN: A3CTYF) (“AFCP” or “Company) is a diversified investment platform that develops affordable, renewable and reliable energy assets and cleantech, helping to raise both consumer and investor awareness of its hydrogen fuel cells. We are pleased to announce the launch of a new corporate video series designed to Very cost competitive compared to existing power alternatives in North America and Europe.

A number of factors underscore the need for hydrogen fuel cells as an alternative for consumers. Lack of consumer advocacy for affordable energy supply. The fact that hydrogen is a key factor in meeting our carbon neutral commitments. AFCP is actively pursuing solutions to these problems, including piloting hydrogen supply to customers via natural gas pipelines and creating short-term revenue opportunities to complement the future development of AFCP’s fuel cell business. I’m here.

“In the current environment where consumers are facing dramatic increases in energy costs, AFCP is encouraged by expectations that green hydrogen could cost as low as current alternative fuels. We are launching an awareness program highlighting how cost-effective our fuel cells are expected to be compared to. $1 per kilo by 2031” Alkaline Fuel Cell Power Corp Chief Executive Officer Frank Carnevale said:Short videos are used as part of a business communication plan to showcase the benefits of AFCP’s fuel cell technology, increasing audience size by nearly 9.5x. We truly empower the people by taking care of our consumers, enabling them to control their everyday spending and provide cost competitiveness. ”

Affordable Green Hydrogen Supports Carbon Neutrality

Green hydrogen production technologies are witnessing a new wave of interest driving progress in hydrogen production away from fossil fuel sources. Green hydrogen is produced by electrolysis, which splits water into hydrogen and oxygen.As industry continues to develop low-cost, high-capacity electrolysers, the cost of producing clean hydrogen could reach $1 per kilogram by 2031^Me According to the U.S. Department of Energy. Further supporting the development of green hydrogen are forecasts by organizations such as Global Markets Insight Inc., which show that the green hydrogen market could reach a valuation of US$119 billion by 2030. .^Ⅱ

Low cost power with alkaline fuel cell technology

The average cost of natural gas delivered to residential customers in the US in March 2022 was about US$0.046 per kWhⁱⁱⁱAlmost half of the calculation is for supply^ivAssuming green hydrogen production reaches US$1/kg by 2031, the equivalent cost of hydrogen would be about US$0.06/kWh (1 kg of hydrogen is equivalent to about 33 kWh of energy). increase). Hydrogen’s economics match the current cost of compressing natural gas and delivering it to customers, but hydrogen is also very clean as it is not a fossil fuel source. Carbon-free green hydrogen is more cost-effective than natural gas or grid alternatives and is on pace to meet backup and peak power demand.

On September 20, 2022, the company announced a pilot project with an entity developing hydrogen separation technology. The aim is to demonstrate the potential of each company’s technology to supply hydrogen through natural gas pipelines. We continue to promote multiple solutions aimed at getting hydrogen to our customers faster and more efficiently. Over the next few quarters, the AFCP will provide further insight into projected fuel cell unit prices and levelized operating costs.

Significant rise in electricity bills

Today, Toronto Hydro residential rate payers are paying $0.20 per kWh, and in some cases more, for a variety of power requirements throughout the day. With expected electricity price increases, customers could end up paying more than $0.30 per kWh by 2030. Achieve net zero emissions by 2050. Capital spending could increase rates for Toronto Hydro’s residential customers by 8-9% annually from 2025 to 2029, according to the report. Between 2030 and 2034, rates will average between 5 and 6 percent per annum.^v

These challenges are not unique to North America. As shown in Figure 1 below, European electricity prices have risen dramatically from the previous highs achieved in 2020. This is due to restrictions on the availability of natural gas caused by the war in Ukraine and European goals on the energy transition.

shape 1– 2020 European electricity prices from highest to lowest

The power from AFCP’s fuel cell unit is designed to meet the demands of backup and peak power requirements. This power source is affordable, renewable and reliable compared to existing options.

corporate video series

See what AFCP can do in practice.Empower the people #PWWRtothePeople with the first three videos of the ongoing series:

1. go up

2. Affordable, Renewable, Reliable

3. Commitment to Carbon Neutrality

Company videos can be found on the company website and YouTube channel. As AFCP approaches the demonstration of its 4 kW fuel cell combined heat and power (“CHP”) unit, the company plans to roll out a comprehensive social media campaign over the next few weeks and months to raise investor awareness. is.

about alkalinity fuel cell power Ltd. (Neo: PWWR)

AFCP is a diversified investment platform that develops affordable, renewable and reliable energy assets and cleantech. Today, we combine a stable revenue stream with a future-oriented vision to bring “power to the people”, commercialize advanced hydrogen fuel cell technology to meet the vast needs of the global market, and ultimately to investors. Attractive profit.

AFCP operates through two global companies: Fuel Cell Power NV, a wholly owned Belgian subsidiary, and PWWR Flow Streams (“PWWR Flow”), a Canadian AFCP brand.

• fuel cell Power NV It focuses on the development, manufacture and commercialization of micro combined heat and power (“micro CHP”) systems and off-grid and backup generators based on advanced alkaline fuel cell technology with zero CO2 emissions. Fuel Cell Power NV is working on a milestone to deliver a commercial alkaline fuel cell in 2024.
• Flow of PWWR It focuses on developing, owning and operating combined heat and power (“CHP”) assets. PWWR Flow assets deliver efficiency improvements of 20% or more while reducing costs for multi-family and commercial application customers. PWWR Flow has contracted his existing CHP assets in Toronto, Canada and currently in development he has an additional pipeline of potential contracts worth over $50 million.

AFCP is well-positioned to empower the people in the global energy transition while providing investors with a diverse cleantech growth platform.

For more information, visit the company’s website at: https://www.fuelcellpower.com/, and we encourage investors and other interested stakeholders to follow us on LinkedIn, Twitter, Facebook, Instagram, and YouTube. The ordinary shares are listed on the NEO Exchange (“NEO”) under the symbol “PWWR”, on the OTC Venture Exchange “OTCQB” under the symbol “ALKFF” and on the Frankfurt Exchange under the symbol “77R”.” and “WKN A3CTYF”.

for further away information, please contact:

Frank Carnevale
chief Executive board member
+1 (647) 531-8264
[email protected]

Foresight information

This news release contains forward-looking statements and forward-looking information. of Applicable Securities law. these are statement connection To future event Also future performance. all statements other than statement of historic fact May Become Positive statement Also information. specific Case, Positive statement can Become Identified To of use of words like that that’s why “schedule”, “anticipates” or “does not expect”, “anticipates”, “estimates”, “predicts”, “intends”, “predicts”, “believes” or variations of like that words When phrase Also statement that identification action, event Also result “May”, “could”, “would”, “might”, “occur”, or “achieve”. Forward-looking statements in this news release may include, but are not limited to, warrant amendments and related timelines, optional amendments and related timelines, special meetings and statements . When Respect To of Company’s technology, intellectual property, work schedule, Purpose When strategy.

Positive statement When information that is sponsored for of Purpose of offer information about our management’s current expectations and plans for the future; Readers are cautioned that reliance on such statements or information may not be appropriate for other purposes, such as investment decisions. Forward-looking statements and information, by their nature, are subject to inherent risks and uncertainties, as they address future events or circumstances.the actual result is to differ greatly from Them Current is expected Deadline To a number cause When risk. Accordingly, the reader should do it No put too much trust in upon of Positive statement When information include in this news release.reader Note that the previous list of factors does not apply. Comprehensive.forward-looking statement When information include of this news release that is make that’s why of of date this book When no promises teeth Given the To update publicly Also revision Any Positive statement Also information, whether a result of new information, future event Also Other than that, otherwise so requirement To Applicable Securities law. Any forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

NEITHER NEO EXCHANGE NOR ITS REGULATORY SERVICE PROVIDERS (AS THAT TERM IS DEFINED IN THE NEO EXCHANGE POLICY) ARE RESPONSIBLE FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

A photo accompanying this announcement is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/962da027-d680-40f4-880a-75370d9a0d6e

https://www.globenewswire.com/NewsRoom/AttachmentNg/bd447527-3f2b-4cc6-a914-e2af98203c75

https://www.globenewswire.com/NewsRoom/AttachmentNg/2fcb7a30-4ce9-4fc6-b7b8-712e5c619472

https://www.globenewswire.com/NewsRoom/AttachmentNg/16f0a019-dd6a-4bc6-a710-5e912d72f880

^MeAnalysis | US Releases Draft National Clean Hydrogen Strategy and Roadmap – 3 Key Priorities Recharge (rechargenews.com)
^ⅡGreen Hydrogen Market Worth US$119 Billion By 2030: Global Market Insights Inc. (yahoo.com)
ⁱⁱⁱGlobal Natural Gas Prices, March 2022 | GlobalPetrolPrices.com
^ivWhat makes up the price of gas | Business Juice Energy
^vHigher hydroelectric tariffs, expanded toll roads and free transportation are all part of Toronto’s “aggressive” plan to combat climate change.star

CBJ Newsmaker