AmmPower Corporation (AMMPF)

[ErnieBilco]

This one from Nov 22nd

AmmPower Corp. Announces Letter of Intent for Joint Venture
with Alkaline Fuel Cell Power Corp. for Fuel Cell Generator Pilot
Using Green Ammonia
TORONTO, ON / ACCESSWIRE / November 22, 2022 / (CSE:AMMP, OTCQB:AMMPF,
FSE:601A) / AmmPower Corp. (the "Company" or "AmmPower") is pleased to announce that
on November 3rd, 2022, the Company executed a non-binding letter of intent (the "LOI") with
Alkaline Fuel Cell Power Corp. ("PWWR"), a company developing affordable, renewable, and
reliable energy assets and cleantech. The LOI summarizes the intentions of the Company and
PWWR entering into a joint venture (the "JV") for the development of a pilot project testing
PWWR's off-grid fuel cell generator and AmmPower's ammonia cracking technology (the
"Pilot").
"Given North America is years away from being able to deliver free-flowing hydrogen to
customers, PWWR is doing everything we can to demonstrate more immediate alternatives
designed to accelerate the sale of fuel cells to business and home owners," commented Frank
Carnevale, CEO of PWWR. "This is why I am so excited to partner with AmmPower as we aim to
successfully demonstrate that green ammonia is an energy carrier that can bring clean 'Power to
the People' today. The AmmPower technology is converting green ammonia back into hydrogen
and when combined with PWWR's robust alkaline fuel cell technology, represents a great potential
solution to deliver affordable, renewable and reliable electricity to customers who deserve better
options than what exists today."
AmmPower's CEO, Dr. Gary Benninger, states, "AmmPower is pleased to enter in a Joint Venture
with PWWR to take advantage of the numerous opportunities in the alternative energy space. The
AmmPower team has leading cracking technology that complements PWWR fuel cell innovations,
and we look forward to working with the PWWR team on solving the world's energy needs."
Joint Venture Details
AmmPower is focused on developing technology to convert green ammonia into green hydrogen,
a process called ammonia "cracking". With this cracking technology, hydrogen can be safely
stored and transported around the world as ammonia, and upon arrival at its destination, be
converted back into hydrogen for a cleaner and more efficient end-use. PWWR is developing lowcost hydrogen fuel cell systems for global markets, which can convert hydrogen into electricity
with zero CO2 emissions.
The goal of the JV is to showcase the market opportunities and ultimate value potential of
advancing such ammonia-to-power technology for off-grid and back-up electricity across North
America. Specifically, the Pilot is designed to demonstrate the ability to convert green ammonia
to hydrogen using AmmPower's ammonia cracking technology and then convert that hydrogen
into clean energy using PWWR's 4kW fuel cell generator system. The ammonia-to-power unit will
be a completely carbon-free process for electricity generation.
Both PWWR and AmmPower will work together over the coming months to identify suitable sites
and partners for the execution of the JV. PWWR has already identified and begun discussions with
a number of targets to demonstrate the combined technology's ability to deliver affordable,
renewable and reliable power in support of their operations and requirements.
The obligations of the parties will be subject to customary conditions after satisfactory completion
of due diligence, including the board of directors of each party approving the proposed transaction
and the parties' execution of a definitive agreement.
Advantages of Ammonia
PWWR's Alkaline Fuel Cell technology offers a more cost-effective solution, especially when the
available hydrogen is not at ultra pure PEM (proton-exchange membrane) fuel cell grade
specification. Due to this introduction of robust alkaline technology, the typical purification steps
used by industry peers to upgrade the hydrogen are no longer required.
This alkaline fuel cell can be operated with hydrogen that contains up to 3000 parts per million
("ppm") of ammonia, thus reducing the costs for hydrogen purification after the conversion.
One cubic metre ("m3
") of liquid ammonia contains 119 kg of hydrogen. In comparison,
compressed hydrogen at 300 bar(g) of pressure has 22kg/m3
and liquid hydrogen at -253°C has
71kg/m3
. To put this into perspective, one small 1 m3
tank of ammonia at 10 bar(g) of pressure
and at ambient temperature contains five and a half times more hydrogen than 20 cylinders of
compressed hydrogen at 300 bar(g) of pressure.
Accelerating Fuel Cell Market Growth
The emphasis on availability of green hydrogen is a necessary catalyst to kick-start the value chain
underpinning a true hydrogen economy. AmmPower's green ammonia technology can accelerate
the availability of hydrogen, enabling production at locations where renewable infrastructure is
already available can transporting to locations where hydrogen is required to serve as a green,
zero-emission fuel.
As previously announced in PWWR's June 20, 2022 press release, the Company is making
continued progress on meeting its second half 2022 targets, including to:
• Further accelerate and ramp up efforts to bring fuel cells to market, globally; and
• Secure additional strategic partnerships for the piloting and deployment of fuel cells in
North America.
On Behalf of the Board of Directors
Gary Benninger
Chief Executive Officer
About AmmPower
AmmPower is a clean energy company focused on the production of green ammonia. The
Company is based in Toronto, Ontario, with a research and manufacturing facility in Southeast
Michigan. The Company is active in all facets of green ammonia production, including the
production of green fertilizers, carbon free shipping fuel, and the ‘cracking', or moving of green
hydrogen as ammonia. The Company is working on the development of proprietary technologies
to produce green ammonia and green hydrogen at scale, including the investigation of unique
catalytic reactions to bring down costs and to take advantage of carbon credits in the renewable
energy space. AmmPower currently holds several LOIs with ports in Brazil, the United States,
and is currently completing its IAMM™ prototype to create green ammonia for the agricultural
industry. The Company also holds a lithium exploration property in the James Bay/Eeyou Istche
region of Quebec and an option on the Titan Property located in Klotz Lake area in Northwestern
Ontario.
For More Information please visit www.ammpower.com, or contact AmmPower Investor
Relations at [e-mail]
About Alkaline Fuel Cell Power
PWWR is a diversified investment platform developing affordable, renewable, and reliable
energy assets and cleantech. PWWR 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.
PWWR operates through two global entities: Fuel Cell Power NV, a wholly owned subsidiary in
Belgium, and PWWR Flow Streams ("PWWR Flow"), a company brand in Canada.
• Fuel Cell Power NV is focused on the development, production and commercialization of
micro- combined heat and power ("micro-CHP") systems and off-grid and back-up power
generators based on advanced alkaline fuel cell technology that generates zero CO2
emissions. Fuel Cell Power NV is working through milestones to deliver a commercialized
alkaline fuel cell in 2024.
• PWWR Flow is focused on the development, ownership and operations of combined heat
and power ("CHP") assets. PWWR Flow assets deliver efficiency improvements of over
20% with reduced costs to customers in multi-residential and commercial applications.
PWWR Flow has contracted existing CHP assets in Toronto, Canada, and has an additional
pipeline of potential contracts valued at over $50 million currently in development.
PWWR is well positioned to deliver ‘Power to the People' in the global energy transition while
offering a diversified cleantech growth platform for investors.
Further information is available on PWWR's website at https://www.fuelcellpower.com/, and the
Company encourages investors and other interested stakeholders to follow it on:
LinkedIn, Twitter, Facebook, Instagram and YouTube. Common shares are listed for trading on
the NEO under the symbol "PWWR", the OTC Venture Exchange "OTCQB" under the symbol
"ALKFF" and on the Frankfurt Exchange under symbol "77R" and "WKN A3CTYF"