- AmmPower (AMMP) has signed a letter of intent (LOI) with Alkaline Fuel Cell Power (PWWR)
- The LOI summarizes a joint venture to test PWWR’s zero-emission hydrogen fuel-cell generator and AmmPower’s ammonia cracking technology, which converts green ammonia into hydrogen
- The parties intend to highlight the value potential of ammonia-to-power technology for off-grid and backup electricity across North America
- AmmPower is a clean energy company active in all facets of green ammonia production
- AmmPower (AMMP) is down by 6 per cent, trading at $0.235 per share
- Alkaline Fuel Cell Power (PWWR) closed unchanged trading at $0.065 per share
AmmPower (AMMP) has signed an LOI with Alkaline Fuel Cell Power (PWWR).
PWWR is a diversified investment platform developing renewable energy assets and clean technology in Canada and Belgium.
The LOI summarizes a joint venture to test PWWR’s zero-emission hydrogen fuel-cell generator and AmmPower’s ammonia cracking technology, which converts green ammonia into hydrogen. The combination holds the potential to deliver affordable, renewable and reliable electricity to customers across North America.
The parties intend to highlight the potential of ammonia-to-power technology for off-grid and backup electricity, thus kickstarting the value chain underpinning a true hydrogen economy.
PWWR’s alkaline fuel cell can be operated with hydrogen that contains up to 3,000 ppm ammonia, which reduces the cost of hydrogen purification after conversion.
Additionally, 1 m3 of liquid ammonia is able to contain 5.5x more hydrogen than simply compressing the gas.
Sites and partners will now be secured for the execution of the joint venture as a definitive agreement is finalized.
“Given North America is years away from being able to deliver free-flowing hydrogen to customers, PWWR is doing everything we can to demonstrate more immediate alternatives designed to accelerate the sale of fuel cells to business and homeowners,” stated Frank Carnevale, CEO of PWWR. “This is why I am 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 the People’ today.”
“The AmmPower team has leading cracking technology that complements PWWR fuel cell innovations, and we look forward to working with the PWWR team on solving the world’s energy needs,” added Gary Benninger, AmmPower’s CEO.
AmmPower is a clean energy company active in all facets of green ammonia production.
AmmPower (AMMP) is down by 6 per cent, trading at $0.235 per share as of 10:43 am ET.
Alkaline Fuel Cell Power (PWWR) closed unchanged trading at $0.065 per share.
