PowerTap Hydrogen Capital Corp said its investee, FusionOne Energy Corp, has continued its efforts to commercialize its HydroPlas plastic to hydrogen reactor and is on track to have the first system operational in the first half of 2022.
In April 2021, PowerTap announced its purchase of a 5% stake in FusionOne, a producer of technologies for the conversion of plastic waste to hydrogen and clean electricity. The privately owned technology company specializes in renewable energy, hydrogen production and thermal processing technologies.
“FusionOne has continued its efforts to commercialize its HydroPlas Reactor with plastic polymer feedstocks and a number of other carbon-based waste feedstocks and is on track to have the first system operational in the first half of 2022 as planned,” PowerTap said in a corporate update.
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It added that the “installation of the first reactor will be in feedstock-rich Detroit, Michigan in the new year” with final components arriving for full system commissioning in late-February 2022.
FusionOne has focused strongly on securing its supply chain within North America and said it is “pleased” to have built strong relationships with key component suppliers able to meet its growth plans over the coming years. “Additional sites are expected to be announced in early 2022,” said the company.
“As we have been finalizing fabrication of the HydroPlas Reactor, we have actively engaged with hydrogen industry leaders, particularly in the US and European hydrogen mobility sectors, to develop key relationships and identify additional sites for deployment of our reactor in strategically significant locations in support of efforts by global governments, which are focused on combatting climate change,” FusionOne CEO Elliott Talbott said in a statement.
“We at FusionOne see ourselves as a key component of these strategies and developing the infrastructure and hydrogen supply chain required to support these governments.”
FusionOne’s patent-pending plastic waste to white hydrogen and electricity is a complementary technology to PowerTap’s Gen3, which produces and dispenses blue hydrogen and provides potential cross-development opportunities.
“While PowerTap is focused on deployment of blue hydrogen production at the moment, we recognize that other forms of hydrogen production may be appropriate in different geographies, based on local context and environment,” said PowerTap CEO Raghu Kilambi.
PowerTap Hydrogen Capital, through its wholly-owned subsidiary, PowerTap Hydrogen Fueling Corp., is focused on installing hydrogen production and dispensing fueling infrastructure in the US.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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