How a Canadian company is leading the energy transition from a low-carbon to a zero-carbon economy | 2022-06-01 | Investment News
Alkaline fuel cells have been around for over half a century, having been first developed in 1959 by Francis Thomas Bacon, and are integral to the type of fuel cells that exist today.
They are also the most efficient type of fuel cell, as they achieve up to 90% total efficiency and can operate almost immediately without the need for preheating, even in sub-zero temperatures.
As a testament to its importance, NASA and MIR space programs have used alkaline fuel cells to generate electricity and drinking water for space missions. For the past half century or so, alkaline fuel cells have remained essential to electrical power and are considered one of the lowest cost fuel cell technologies available.
In line with the continued future growth of alkaline fuel cells, the aptly named Alkaline Fuel Cell Power Corp. (NEO: PWWR, OTCQB: ALKFFForum) is one of those companies that investors should have on their radar as it positions itself to develop low-carbon energy systems for residential and small-to-medium sized energy markets globally and large ladder.
Based in Vancouver, British Columbia, the company implements two key elements to deliver a low or no carbon economy. It develops and produces alkaline fuel cell (“CHP”) heat and power systems for the residential, industrial and commercial markets, and has reached its first milestone of commercial product delivery. While global markets await the delivery of hydrogen backbones, the company has acquired and is developing cogeneration projects worth $50 million in multi-residential buildings in Canada. The company uses efficient cogeneration systems to provide affordable resilient energy to its customers today.
The company actively reduces investment risk for investors by diversifying immediate income and assets with the longer-term development of advanced fuel cell technology.
From a technology standpoint, alkaline fuel cell technology originally came from the European Space Agency, but the company has now been able to develop a smaller and scalable fuel cell due to less energy. operating inputs and metals such as platinum group metals.
In an interview with Stockhouse Editorial, Frank Carnevale, CEO of Alkaline Fuel Cell Power, said that “the company intends to become one of the leading players in the hydrogen economy space in the over the next few years and in a way that incorporates the End Goals and the transition to them. There is no silver bullet to delivering a zero-carbon economy.”
Hydrogen has enormous potential when it comes to acting as a feedstock, fuel or energy, which consequently offers many use cases with the potential to reduce carbon emissions.
Although headquartered in Vancouver, the company has cogeneration operations in Toronto, a wholly-owned subsidiary in Belgium, called Fuel Cell Power NV, in addition to a wholly-owned subsidiary in the Czech Republic, called Fuel Cell Power sro, which represents a strategic presence of the company in the country.
“Alkaline Fuel Cell Power is targeting European jurisdictions that have recently embraced hydrogen as a critical component to achieving a carbon-free economy, and we are starting to see signs that North American jurisdictions are also embracing hydrogen,” Carnevale said.
To that end, Alkaline Fuel Cell Power believes it is well positioned to be one of the leading contributors to the clean energy space, especially in Europe where demand exceeds supply.
The advantage of alkaline fuel cell technology
Carnevale told Stockhouse Editorial that domestic customers and small and medium-sized businesses are great markets for the company because of its efficient fuel cell system, adding that the system is poised to take a significant share of this market space.
In particular, the company’s technology specifically offers an energy source that generates zero carbon emissions and produces pure water as the only by-product. Additionally, the system, which is a Combined Micro-Heat and Power (Micro-CHP, CHP) system, is built into a prototype 4 kW system that also uses ambient air, hydrogen, and generates 3.2 kWh of heat in addition to clean water. .
Although reducing carbon emissions is undoubtedly a global crisis, the cost of such reduction is enormous and unattainable for many; however, Alkaline Fuel Cell Power makes it achievable – affordable, renewable and resilient energy for the masses.
Currently, other types of fuel cells are being developed and sold, but with hydrogen delivered to customers’ doorsteps in the coming years, the Company plans to supply energy in the form electrical, heating and cooling options.
Carnevale said the system will be affordable for customers and explained that with reduced manufacturing costs, the non-use of precious metals – which he says is the most expensive part of the product – the company can derive party of the product with the market to generate a profit.
Essentially, this means that the company’s technology benefits from cost-effective supply chains, including manufacturing, making it affordable for customers in the retail sector. As such, it positions Alkaline Fuel Cell Power as a competitive producer of electric, furnace, boiler replacement and air conditioning systems, globally.
The main objective of the company
With two separate groups, the goal in Canada is to develop and own a low-carbon, revenue-generating energy system for the company, and the company has purchased a pipeline of $50 million in projects and at various stages of development. Second, Carnevale told Stockhouse Editorial that alkaline fuel cell development remains focused on the European market for now.
According to Carnevale, the continent currently has the greatest advancement for the use of hydrogen networks in addition to having a strong political climate. He said that in Central Europe, there are currently four hydrogen energy networks that enjoy strong political and financial support, which go hand in hand with each other.
For example, the European Union’s 2030 climate targets plan includes a proposal to reduce greenhouse gas emissions by at least 55% over the next decade to become climate neutral by 2050. Along with this, the company’s solution is both economical and environmental, which will benefit consumers switching from gas boilers to cleaner alternatives. In other words, the alkaline fuel cell will play an essential role for the European Union to achieve its objectives in the years to come.
“Once [the company] well established in Europe, and [it has its] manufacturing is complete in the next two to three years — we are developing a version [of the technology] that we can sell to the public, then we will team up with similar manufacturers and suppliers to expand into the US, Canada and other places where there is a realization that we need to reduce carbon emissions, ” he said.
Future steps
May 6e, the company has reached its first key milestone. In a press release, Alkaline Fuel Cell said that it has successfully created operation, test bench, single cell and system operation at working temperature. The company is working on the commercialization of a 4 kW micro-combined heat and power system (“Micro-CHP”).
Other milestones include completing the first complete 4kW system in a lab configuration, which the company expects to complete before the end of 2022, receiving Conform European (CE) accreditation as well as the installation of the first of two 4 kW prototype systems by mid-2023 and, of course, commercialization of the new system which is targeted by the end of 2024.
The management team
The company would not be able to achieve its goals without an experienced management team, which has decades of experience developing power assets in North America, Europe and alkaline fuel cell technology.
Frank Carnevale, Managing Director
Over the past two decades, Mr. Carnevale has developed and managed several investments in cleantech and PropTech platforms, including originating more than $2.5 billion in transactions in the energy and utilities sectors. public services. Mr. Carnevale is passionate in his advocacy for underserved energy customers – residential and small/medium, industrial, commercial and institutional customers. By participating in the global energy transformation, it offers investors opportunities to provide customer-centric solutions. Mr. Carnevale previously served as Chief Growth Officer and Chief Operating Officer of a TSX Venture Exchange listed company offering design-build thermal power, HVAC and building control systems. in Canada.
Jo Verstappen, COO
Jo Verstappen has been working in the hydrogen and fuel cell technology market for five years. Prior to his shift, he had extensive experience in production methodology, organization and business development of new products.
With his vast experience, he played a vital role in structuring the company and pushing it to have a significant footprint in the hydrogen market.
Gerard Sauer, Advisor
Gerard Sauer has extensive experience in the field of fuel cells and hydrogen batteries, having developed a wide range of fuel cell systems and a balance of plant-related applications in static generation, automotive and industrial applications. Sauer is a founding member of the company.
Investment Summary
As of this writing, shares of Alkaline Fuel Cell Power are priced at CA$0.11 and have a market capitalization of $19 million.
The company’s recent investment in cogeneration assets diversifies investments into immediate projects and revenues that balance its strategic investment in delivering a future-ready alkaline fuel cell.
With the European Union’s carbon-free emissions targets for 2030 – and the company’s strong position to help make this a reality – alkaline fuel cell power is undoubtedly an opportunity for investment that is sure to bring results in the years to come.
Carnevale told Stockhouse Editorial that the company’s potential and strategy will only expand its footprint in the cogeneration and fuel cell markets.
To that end, Alkaline Fuel Cell Power remains committed to providing a product that benefits the environment, the consumer and investors’ appetite.
FULL DISCLOSURE: This is a sponsored article produced by Stockhouse Publishing.
