AmmPower Corp. announces joint venture agreement with CTEC Energy Sales USA Inc.
by CM Staff
The joint venture will be owned 50/50 between CTEC Energy Sales USA Inc and AmmPower Inc. and will have its own management team.
TORONTO — AmmPower Corp. announces that it has signed a joint venture agreement with CTEC Energy Sales USA Inc. (a private company) to create centers for transforming waste into ammonia using CTEC and AmmPower technology and products.
Gary Benninger, AmmPower CEO, states, “We are very excited about our new relationship with CTEC since it will allow waste materials to be converted into the hydrogen and electricity required for the ammonia synthesis process. It eliminates the need for an electrolyzer to create the hydrogen and in so doing substantially reduces the electric power required for the overall process.”
The joint venture will be owned 50/50 between CTEC Energy Sales USA Inc and AmmPower Inc. and will have its own management team. It should be noted that the CTEC technology is in production in Europe and the United Kingdom in over 25 locations. The hydrogen and electricity produced by the CTEC units will directly feed AmmPower’s IAMM™ ammonia synthesis units.
Peter Wild of CTEC noted, “The relationship with AmmPower is an ideal marriage since it provides a mechanism to convert waste materials into a product with value, and does so without the creation of greenhouse gasses.”
