PowerTap Hydrogen announces its subsidiary has executed a LOI with Alkaline Fuel Cell Power for joint venture pilot
by CM Staff
The JV is intended to provide proof of concept for each company's technologies and assess the ability to combine various Progressus technologies with AFCP fuel cells.
VANCOUVER and IRVINE — PowerTap Hydrogen Capital Corp. provided an update and details on Progressus Clean Technologies Inc. entering into a letter of intent with Alkaline Fuel Cell Power Corp. to complete a joint venture pilot project that aims to provide a solution for natural gas utilities to directly power both residential and commercial businesses. AFCP is a diversified investment platform developing energy assets and cleantech. The JV is intended to provide proof of concept for each company’s technologies and assess the ability to combine various Progressus technologies with AFCP fuel cells to serve residential and small building customers across North America. PowerTap owns 49% of Progressus.
“The missions and combined vision of AFCP and Progressus are very complementary to one another. By leveraging the strengths of both organizations, we can more efficiently and effectively solve the growing need for innovative hydrogen solutions. The proposed JV pilot project with AFCP is an active step towards progressing hydrogen innovation and combining the suite of technologies that will ultimately be needed for global hydrogen solutions in the future,” said Channce Fuller, Chief Executive Officer of Progressus.
To reduce CO2 emissions around the world, gas distribution companies and municipalities are setting-up projects to inject hydrogen into the local gas distribution grid. This gas mixture generally aims to contain up to 20% hydrogen and its use is targeted for residential and commercial buildings.
AFCP and Progressus will work together to execute a JV pilot project utilizing technologies from each company to provide in-field proof-of-concept, generate operational data that can inform continued development and market opportunities, and establish a platform to support future potential growth and additional partnerships. The exact location of the JV pilot project remains under consideration but, initially, North America will be the focus with secondary priority given to potential future pilots in Europe.
The JV pilot project is designed to use the Progressus hydrogen separation technology to extract hydrogen at high purities from the existing natural gas grid, and then convert the purified hydrogen using either AFCP’s 4 kW Micro-CHP or 4 kW generator to produce electricity, and potentially heat.
