Alkaline Fuel Cell Power Corp announced its plans to change its name to Cleantech Power Corp.
In a statement, CEO Frank Carnevale told investors that the move is more consistent with its messaging.
The Toronto-based company is a diversified investment platform that develops affordable, renewable, and reliable energy assets and clean technology.
Earlier this year, it revealed a series of strategic priorities for the coming year, including speeding up the path to greater revenue and earnings; reducing fuel cell cash burn; using fuel cell pilots to generate nearer-term sales opportunities, and sourcing funding to reduce the cost of growth capital.
The firm recently inked a prospective joint venture to pilot its Jupiter 1.0 fuel cell prototype, supporting ammonia cracking and artificial intelligence electrical panel clean technology.
“Cleantech and Power are synonymous with our approach to deliver affordable, renewable and reliable power to the people,” Carnevale said.
The name change will be effective by May 4, 2023, subject to stock exchange approval.
Contact Angela at angela@proactiveinvestors.com
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