Alkaline Fuel Cell Power Corp. (NEO:PWWR.AQN) (AFCP) has announced the launch of PWWR Flow Streams, a brand of its combined heat and power (CHP) division, following its April 22, 2022, acquisition of the CHP assets of the AI group of companies.
The company said PWWR Flow’s assets target the delivery of improved energy efficiency of more than 20% with lower costs to customers, whether in multi-residential or commercial applications.
It has contracted to deploy its existing CHP assets in Toronto and is advancing a robust pipeline of future potential contracts wo=orth over $50 million, Alkaline Fuel Cell Power added.
READ: Alkaline Fuel Cell Power completes acquisition of AI group's combined heat and power generation business
"PWWR Flow offers a tremendous value proposition to multi-residential and commercial customers, and our new corporate tag line of 'PWWR to the People', encapsulates our unique approach to providing efficient and cost-effective energy sources," Alkaline Fuel Cell Power CEO Frank Carnevale said in a statement.
"AFCP is developing energy assets on the back of the spark spread and associated increased power costs to customers, and more importantly, diversifying our revenues while de-risking our platform at the same time,” he added.
The company said the new tag line, “PWWR to the People”, is in keeping with the notion of providing power directly to customers on their sites, and aligns with its belief that the energy transition to a zero-carbon economy must empower people to take control of their energy needs.
It said the concept of PWWR Flow is based on:
- Direct "Power" to customers;
- Utilization of the company's NEO exchange ticker symbol, PWWR;
- "Flow", representing the ability to leverage Canadian flow-through CRCE credits for projects; and
- "Streams" for the cash flow streams to be generated by the assets from stable long term power purchase contracts with customers.
In an accompanying corporate update, Alkaline Fuel Cell Power said it has granted 600,000 stock options to an arm's length consultant. Each stock option is exercisable for five years at an exercise price of $0.15 per common share of the company.
Alkaline Fuel Cell Power is a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech. The company brings 'Power to the People' today, combining a stable revenue stream with a future-forward vision to commercialize our 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, an AFCP brand in Canada.
Contact the author at stephen.gunnion@proactiveinvestors.com