- Developing a new hydrogen-powered alkaline fuel cell technology system
- Technology offers an energy source with zero CO2 emissions and pure water
- Cost-competitive product due to fewer operating inputs
What Alkaline Fuel Cell does:
Alkaline Fuel Cell Power Corp is developing a new hydrogen-powered alkaline fuel cell technology system targeting residential and small-to-medium-sized power markets in Europe and around the world.
The Vancouver-based company’s technology offers an energy source with zero CO2 emissions and pure water as the only by-product. Its smaller, but scalable, fuel cell system has fewer ‘operating’ inputs and no high-cost precious metals, which it believes will result in a cost-competitive product.
As governments tighten CO2 emission regulations, Alkaline Fuel Cell Power is preparing to respond with a fuel cell technology for the mass market.
How is it doing:
Alkaline Fuel Cell Power, which is focused on the design, development, and commercialization of alkaline fuel cell heat and power systems, said it is “exceptionally well-positioned” to target the residential and small to medium-sized power markets in Europe and around the world.
In an August 12 statement, CEO Jef Spaepen said Alkaline Fuel Cell Power’s hydrogen-powered alkaline fuel cell technology is being positioned to offer all of Europe an energy source that generates zero CO2 emissions with pure water as the only by-product.
With technology originally derived from nuclear research and considered also for deployment by the European Space Agency, Alkaline Fuel Cell Power, has been able to develop a fuel cell that is smaller in size and scalable because of fewer operating inputs and the absence of noble metals, which include high-value, high-cost platinum-group metals.
While providing a technology and market overview, Spaepen told investors that as governments tighten CO2 emission regulations, the company is preparing to respond with a fuel cell technology for the mass market.
With the European Union (EU) having put forward a 2030 Climate Target Plan that includes a proposal to cut GHG emissions by at least 55% by 2030, and a goal of becoming climate neutral by 2050, Alkaline Fuel Cell Power’s technology solution offers economic and environmental advantages, which can help consumers transitioning from traditional energy to a cleaner alternative, thereby helping countries in achieving their net-zero emissions goals.
A week later, on August 19, Alkaline Fuel Cell Power provided shareholders with the milestones and objectives to commercialize its micro-combined heat and power (Micro-CH) system being built within a 4kW system prototype.
The company said the system also features a lower cost with higher energy density and is adaptable for deployment across new applications.
Alkaline Fuel Cell Power said its new system is expected to be delivered in a compact, encased format that will allow for ease of scalability to accommodate higher output capacities and represents a cleaner alternative energy source for domestic and commercial buildings across Europe.
With hydrogen serving as the power source, the company noted that the new system offers benefits to decarbonise industrial processes, reduce greenhouse gas emissions, and offer a cleaner energy solution.
Hydrogen has the potential to serve as feedstock, fuel or energy, offering numerous potential uses with zero carbon dioxide emissions. These factors also make hydrogen essential to support the EU’s commitment to reach carbon neutrality by 2050 while striving to achieve zero pollution.
Meanwhile, the company has been strengthening its commercial team, announcing on August 6 that Stephan Laux has joined its subsidiary Fuel Cell Power NV, as the business development director.
Laux will report to chief operating officer Jo Verstappen, who also serves as the CEO of the company's subsidiary.
Alkaline Fuel Cell Power noted that Laux, who will be based in Belgium, will play an “integral role” as it and its subsidiary companies expand their market reach, “secure commercial arrangements with retail sales outlets of conventional energy installations” and establish technical and industry collaborations. He will be responsible for all global business development activities, including the development and execution of the company’s sales, commercial and customer strategy, as well as focusing on margin optimization.
Laux will provide strong commercial and sales leadership to the company and its subsidiaries, striving to ensure the delivery of near-term product needs as well as helping to shape the longer-term market and business development, said the company. A key area of focus for him will be to establish strategic partners for the company, including real estate developers and master planners, who build integrated communities that function ‘off the grid’ and could rely on its micro-combined heat and power (micro-CHP) systems based on alkaline fuel cell technology and powered by hydrogen.
Alkaline Fuel Cell Power said that it also retained First Marketing GmbH, a leading investor relations, and marketing firm based in Heidelberg, Germany, to provide marketing services focused on the European markets. Under the agreement, First Marketing GmbH will provide content distribution, translation, and advertising services in Europe. It has agreed to pay up to €1.5 million over a nine-month period for digital, online, and traditional media content, graphics, and artwork. It will also launch market awareness programs across the European Union.
Inflection points:
• Cleaner alternative energy source for domestic and commercial buildings across Europe.
• Positioned to benefit as governments tighten CO2 emissions regulations
• Strengthened commercial team and retention of leading investors relations and marketing firm
What the boss says:
"Our hydrogen-powered alkaline fuel cell technology is being positioned to offer all of Europe an energy source that generates zero CO2 emissions with pure water as the only by-product," CEO Jef Spaepen said in a statement on August 12.
"With technology originally derived from nuclear research and considered also for deployment by the European Space Agency, AFCP has been able to develop a fuel cell which is smaller in size and is scalable as a result of fewer ‘operating’ inputs and the absence of noble metals, which include high-value, high-cost platinum-group metals.
“As a result, AFCP’s technology will benefit from cost-effective supply chains and production representing a highly competitive product to generate both electricity and heat for residential and small commercial locations across Europe."
Contact the author at stephen.gunnion@proactiveinvestors.com
