Alkaline Fuel Cell Power Corp. Announces Memorandum of Understanding for Joint Venture with AmmPower Corp. for Green Ammonia Fuel Cell Generator Pilot, The Canadian Business Journal

TORONTO, November 22, 2022 (GLOBE NEWSWIRE) — Alkaline Fuel Cell Power Corp. (NEO: PWWR) (OTCQB:ALKFF) (Frankfurt: 77R, WKN: A3CTYF) (“PWWR” or “Company), a diversified investment platform developing affordable, renewable and reliable energy assets and cleantech, is pleased to announce on November 3rd.^rdin 2022, we will enter into a non-binding consent form (“Roy”) AmmPower Corp. (“Amphawa) is a company developing technology to convert green ammonia into green hydrogen. The LOI summarizes the intent of the Company and He AmmPower to enter into a joint venture (“JVs”) Development of a pilot project to test PWWR’s off-grid fuel cell generator and AmmPower’s ammonia cracking technology (“pilot”).

“Given that North America will be years away from being able to provide free-flowing hydrogen to customers, PWWR is a faster, more rapid, hydrogen-based technology designed to accelerate the sale of fuel cells to businesses and homeowners. We are doing everything we can to present a viable alternative.” Alkaline Fuel Cell Power CEO Frank Carnevale said: “This is why we are so excited to partner with AmmPower as we aim to successfully demonstrate that green ammonia is an energy carrier that can bring clean ‘power’ to people today.” AmmPower technology converts green ammonia to hydrogen, combined with PWWR’s robust alkaline fuel cell technology, to bring affordable, renewable and reliable power to customers who deserve a better choice than they do today. It would be a great potential solution to offer. ”

AmmPower CEO Dr. Gary Benninger said: “AmmPower is pleased to join the joint venture with PWWR to take advantage of the many opportunities in the alternative energy space. We look forward to working with the PWWR team to solve the world’s energy needs.”

Joint venture details

AmmPower is focused on developing technology to convert green ammonia to green hydrogen. This is a process called “cracking” of ammonia. With this cracking technology, hydrogen can be safely stored, transported around the world as ammonia, and converted to hydrogen upon arrival at its destination for cleaner, more efficient end uses. PWWR develops low-cost hydrogen fuel cell systems for the global market that can convert hydrogen into electricity with zero CO.₂ emissions.

The goal of this joint venture is to showcase the potential market opportunity and ultimate value of advancing such ammonia power generation technology for off-grid and backup power across North America. Specifically, the pilot will demonstrate the ability to convert green ammonia into hydrogen using AmmPower’s ammonia cracking technology and convert that hydrogen into clean energy using PWWR’s 4kW fuel cell power generation system. is designed to Ammonia power plants provide a completely carbon-free power generation process.

PWWR and AmmPower will work together over the next few months to identify suitable sites and partners to execute the JV. PWWR has identified and initiated discussions on a number of goals to demonstrate the ability of combined technologies to provide affordable, renewable and reliable power to support operations and requirements. .

The obligations of both parties shall be subject to customary conditions after due diligence has been satisfactorily completed, including the approval of the proposed transaction by each party’s board of directors and the execution of a definitive agreement by both parties. .

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/34c65ea9-98b6-42db-9b31-3c49ba948070.

Benefits of Ammonia

PWWR’s alkaline fuel cell technology offers a more cost-effective solution, especially when the available hydrogen is not up to ultrapure PEM (Proton Exchange Membrane) fuel cell grade specifications. The introduction of this robust alkaline technology eliminates the need for common purification procedures that competitors use to upgrade their hydrogen.

This alkaline fuel cell can operate with hydrogen containing up to 3000 parts per million (“ppm”) of ammonia, reducing post-conversion hydrogen purification costs.

One cubic meter (“m3”) of liquid ammonia contains 119 kg of hydrogen. By comparison, compressed hydrogen at 300 bar(g) pressure is 22 kg/m3 and liquid hydrogen at -253°C is 71 kg/m3. As an overview, one small 1 m3 ammonia tank at 10 bar(g) pressure and ambient temperature holds 5.5 times more than 20 cylinders of compressed hydrogen at 300 bar(g) pressure. Contains hydrogen.

Accelerating growth of the fuel cell market

Emphasizing the availability of green hydrogen is the catalyst needed to start the value chain that underpins a true hydrogen economy. AmmPower’s green ammonia technology will accelerate the availability of hydrogen, enabling production where renewable infrastructure is already available, and bringing hydrogen to where it needs to serve as a green, zero-emission fuel. enable transportation.

As previously announced in PWWR’s June 20, 2022 press release, the company continues to make progress to meet its goals for the second half of 2022, including:

• Further accelerate and strengthen efforts to bring fuel cells to market globally.When
• Secure additional strategic partnerships for fuel cell pilots and deployments in North America.

About Amphawa

AmmPower is a clean energy company focused on producing green ammonia. The company is headquartered in Toronto, Ontario, with research and manufacturing facilities in Southeast Michigan. The company is active in all aspects of environmentally friendly ammonia production, including the production of environmentally friendly fertilizers, carbon-free transportation fuels, and the “cracking” or transfer of environmentally friendly hydrogen as ammonia. The company is committed to developing proprietary technology for large-scale production of green ammonia and green hydrogen. This includes investigating unique catalytic reactions to reduce costs and leverage carbon credits in the renewable energy sector. AmmPower currently holds multiple of his LOIs with ports in Brazil and the US and has completed his IAMM™ prototype for producing green ammonia for the agricultural industry. The company also owns a lithium exploration facility in the James Bay/Eyuische region of Quebec and also holds an option on Titan’s property in the Crotz Lake region of northwestern Ontario.

about alkalinity fuel cell power Ltd.

The company 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.

It operates through two global entities: its wholly-owned Belgian subsidiary, Fuel Cell Power NV, and its Canadian company brand, PWWR Flow Streams (“PWWR Flow”).

• 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.

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

For more information, please visit the company’s website at https://www.fuelcellpower.com/.

LinkedIn, Twitter, Facebook, Instagram, YouTube. Ordinary shares are represented by the symbol “PWWR“, OTC Venture Exchange “OTC QB“Below the symbol”ALKFF” and the Frankfurt Exchange symbol “77R” When “WKN A3CTYF”.

for further away information, please contact:

Frank Carnevale
chief Executive board member
Alkaline Fuel Cell Power Co., Ltd.
+1 (647) 531-8264
[email protected]
www.fuelcellpower.com

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 include the signing of definitive agreements for the JV, the development of pilots, the delivery of power to customers, and the conversion of green ammonia to hydrogen using AmmPower’s Ammonia Cracking. , but not limited to: technology, the conversion of hydrogen into clean energy using PWWR’s 4kW fuel cell power system, and the availability of hydrogen.

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