Alkaline Fuel Cell Power Corp. (NEO:PWWR.AQN) (PWWR) said it has entered into an exclusive sales and marketing agreement with Viridian Hydrogen UAE to aid in the development and deployment of its next-generation hydrogen-powered fuel cells.
“PWWR is tremendously excited to gain access to the MENA (Middle East and North Africa) region with such a well-respected partner with a proven track record in providing hydrogen opportunities in the Middle East,” PWWR CEO Frank Carnevale said in a statement.
“We are looking forward to launching the Jupiter 1.0 hydrogen-powered fuel cell in the UAE. As those pilots and strategic opportunities are being developed, PWWR will continue to utilize strategic partners to assist in the acceleration of the production and sales of PWWR’s Jupiter 1.0 and generator fuel cells, globally,” he added.
READ: Alkaline Fuel Cell Power says Belgium subsidiary launches fuel cell system prototype, Jupiter 1.0
Building on the launch of the prototype of the Jupiter 1.0 hydrogen-powered fuel cell, PWWR said Viridian will be able to work with a variety of companies and governmental agencies in the MENA region to maximize the potential of one of the most cost-effective hydrogen-fuel cells developed.
The company noted that the key stakeholders in Viridian have extensive experience in renewable energy production in the Middle East that when coupled with their deep history in the region, will result in a great partnership for PWWR to enter into sales agreements, joint ventures and manufacturing agreements to monetize PWWR’s Jupiter 1.0 and future hydrogen-powered fuel cells.
PWWR said it will join the Viridian Hydrogen Advisory Council (VHAC) to capitalize on the variety of hydrogen-focused projects that are being explored in partnership with numerous governments and Fortune 500 companies as a result of Viridian’s participation in Expo2020 in Dubai.
“We are excited to welcome PWWR into the Viridian family of companies we represent. We are all well aware of the transformative power of hydrogen,” Viridian CEO Saad Khan said. “Utilizing PWWR’s newly developed prototype of the micro-combined heat and power systems, and pending off-grid, backup power generators, will be of tremendous value to our various connections across the region.”
Global leader in hydrogen production
PWWR said the UAE is positioning itself to become a global leader in hydrogen production, distribution and utilization. With the help of both private and public partnerships, it said the collaboration with Viridian will aid in the UAE’s goal of becoming a hub for renewable development and production for the MENA region.
“PWWR & Viridian are honored to continue to help build on the UAE's Founding Father the late Sheikh Zayed Bin Sultan Al Nahyan's visionary leadership to establish the pillars of success for the Arab Emirates,” the company said. “Viridian Hydrogen UAE has been retained to become the exclusive provider of integrated renewable solutions with a focus on the development of hydrogen in the United Arab Emirates and the greater MENA region.
“Through a diverse network of local partners and advisors, Viridian has positioned itself as the trusted resource for governments and multinational corporations wishing to implement their renewable strategies in the region.”
Alkaline Fuel Cell Power Corp is a diversified investment platform. developing affordable, renewable, and reliable energy assets and cleantech. It brings ‘Power to the People’ today, combining a stable revenue stream with a future-forward vision to commercialize its advanced hydrogen fuel cell technology to meet the massive global market need, and ultimately generate compelling returns for investors.
The company operates through two global entities: Fuel Cell Power NV, a wholly-owned subsidiary in Belgium, and PWWR Flow Streams (PWWR Flow) in Canada.
Contact the author at stephen.gunnion@proactiveinvestors.com