Alkaline Fuel Cell Power Corp. (NEO: PWWR) (OTCQB:ALKFF) (Frankfurt: 77R, WKN: A3CTYF) ("AFCP" or the "Company") a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech, is pleased to update investors on the development of its low-cost fuel cell technology, including a conceptual image of its recently announced 10 kW fuel cell generator, timing for deployment of six fuel cell units for pilot projects globally, and update of the Company's webpage and investor presentation. www.fuelcellpower.com
"AFCP is looking forward to deploying its four additional CE-certified low-cost fuel cell generator prototype units in 2024 and 2025, on top of the two 4kW combined heat and power ("CHP") prototypes that were already scheduled for the end of 2023," c ommented Frank Carnevale, Chief Executive Officer. " Since our technology does not require precious metals, costs are substantially lower relative to other fuel cells in the market, and is driving excitement within AFCP about bringing our line of fuel cells to market more quickly."
Accelerating AFCP's Revenue Opportunity with Expandable 10 kW Fuel Cell Generator
As announced on August 10, 2022, AFCP is developing a range of fuel cells that target more immediate revenue opportunities within the off-grid and back-up generator markets, commencing with a 4kW generator, followed by a 10kW generator. The fuel cells are expected to be integrated into larger configurations of 10kW fuel cell stacks, which range in generator size from 10kW up to 100kW.
Figure 1 – 10kW fuel cell generator conceptual image https://www.globenewswire.com/NewsRoom/AttachmentNg/32f0e46e-11e7-44b2-a74a-db87da9af5b8
Updated Timeline for CE-Certified Prototype Units
The Company is developing two prototype units for each configuration (4kW CHP, 4kW genset and 10kW genset) with the objective of ensuring a wider range of applications will be in the pilot phase to demonstrate the versatility and robust nature of the Company's alkaline fuel cell technology. All prototypes will already have complete CE-certification, a regulatory standard that verifies certain products are safe for sale and use in the European Economic Area (EEA), which will allow the Company to rapidly enter the market after its successful pilot implementation.
AFCP is expecting to build a total of six fully CE-certified prototype units in phases commencing with the following:
These upcoming prototype catalysts are complemented by the Company's PWWR Flow Stream business line, which features near-term revenue potential, including through the recently announced $2.2 million combined heat and power ("CHP") capital project for a condominium in mid-town Toronto, Canada expected to generate $16 million in revenue over the life of the service agreement.
Building upon the success AFCP has realized to date with our active CHP operations and the ongoing development of our Micro-CHP units, the Company has been actively identifying and nurturing agreements to deploy these fuel cell generator prototype units in pilot projects across Europe and North America. AFCP is engaged in ongoing discussions for pilots with municipalities, natural gas distribution companies, electric utilities, hydrogen separator companies, and generator integrators.
The Company is also actively involved in several hydrogen associations, such as Hydrogen Europe, Waters of Net, North American Hydrogen Council, and Canadian Hydrogen and Fuel Cell Association, which are instrumental at profiling and promoting the broader industry to governments, capital providers and the general public.
AFCP expects to provide further announcements as developments unfold through Q3 and Q4 2022.
Outlook to Sales and Revenue
With this update, AFCP is pleased to build on its news release dated June 20, 2022, in which the Company provided an outlook for the balance of 2022 and over the longer-term. As outlined above, AFCP is on track to have two 4kW fuel cell CHP units ready by the end of the year which are expected to receive the CE-Certification in the six months following. In addition to this certification, AFCP will also continue working on advancing its pilot programs and increasing the speed with which its fuel cells will be broadly available for sale to individuals seeking a low-cost alternative for heat and power that is accessible behind the meter.
ABOUT Alkaline Fuel Cell Power CORP. (NEO: PWWR)
AFCP is a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech. We bring ‘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.
AFCP operates through two global entities: Fuel Cell Power NV, a wholly owned subsidiary in Belgium, and PWWR Flow Streams ("PWWR Flow"), an AFCP brand in Canada.
AFCP 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 the Company 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 Exchange ("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 ".
For further information, please contact: Frank Carnevale Chief Executive Officer +1 (647) 531-8264 fcarnevale@fuelcellpower.com
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "achieve". Forward-looking statements may include, but are not limited to, statements with respect to the Company's technology, intellectual property, business plan, objectives and strategy.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
NEITHER THE NEO EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE NEO EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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The electrification revolution is well underway, but will solar and wind power alone help us reach the carbon-neutral emissions goals set by governments worldwide? It’s unlikely, as we’re already seeing a dwindling supply of necessary metals, but integrating hydrogen-based technologies may help cover the gap. It’s estimated that hydrogen cleantech could meet 24 percent of the world’s energy demand by 2050 and reach annual sales of approximately €630 billion.
Current clean energy storage technology costs are prohibitive to widespread adoption, but hydrogen-based technologies are more affordable. Affordability is vital to the worldwide adoption of clean energy, and hydrogen may even compete with conventional options soon. Interest in hydrogen tech is surging, and it is estimated that the cumulative investments in renewable hydrogen in Europe alone could reach between €180-470 billion by 2050, with an additional €3-18 in low-carbon fossil-based hydrogen. It’s clear that hydrogen should not be overlooked by those looking to invest in the clean energy transition.
The company’s PWWR Flow Streams (“PWWR Flow”) solution is presently on the market and offers cost-effective combined heat and power (CHP) for multi-residential and commercial applications. Its natural gas-powered CHP systems are cost-efficient, and can reduce air emissions and maintain grid connection for peak usage times and backup power.
Alkaline Fuel Cell Power’s long-term goal, with Fuel Cell Power NV, is to develop advanced hydrogen-powered alkaline fuel cell technology that does not require a combustion process. These in-development fuel cells have already operated successfully in laboratory settings. The fuel cells are virtually silent, produce no vibrations, and the only by-product is pure water. Additionally, the Alkaline Fuel Cell Power fuel cells primarily use nickel, graphite and plastic, creating a significant cost advantage over the platinum and palladium used by its competitors.
The company is diversifying and future-proofing its revenue streams by working towards indirect micro-CHP systems sales, direct sales of CHP systems, parts production and sales, and supportive services. Its CHP business line is actively generating revenue with 33 active targets and a pipeline of 23 proposals. PWWR presently has a pipeline of ~$50 million in project capital.
Alkaline Fuel Cell Power is led by a team of managers and financial experts with decades of experience in corporate management, investor relations, and the utility sector. The diverse expertise of the management team gives confidence in its ability to achieve its near-term and long-term goals
The company’s long-term goal is the full development and commercialization of its cost-effective hydrogen-powered alkaline fuel cell. Due to proprietary research and leveraging cheaper raw materials, this fuel cell technology is poised to become the most cost-effective power solution on the market for mass adoption of clean energy.
PWWR Flow CHP systems is actively generating revenue with a pipeline of proposals to increase its profitability further. The total asset value of PWWR Flow sales pipeline is an estimated US$51.6 million. Its CHP units provide a cost-effective solution to producing electricity alongside heating and cooling.
Frank Carnevale is the Chief Executive Officer of Alkaline Fuel Cell Power Corp. (NEO:PWWR) Over the past two decades, he has developed and managed several investments in cleantech and PropTech platforms, including originating over $2.5 billion in transactions in energy and utility sectors. Carnevale is passionate in his defense of underserved energy customers- residential and small/medium, industrial, commercial and institutional customers. In delivering in the global energy transformation, he bridges investors with opportunities to deliver customer-centric solutions. Carnevale previously served as Chief Growth Officer and Chief Operating Officer of a TSXV-listed company delivering design and build thermal energy systems, HVAC and Building Controls in Canada. Prior to that, he was Founder and Chief Executive Officer of a boutique consulting, advisory and development firm where he originated and developed energy and infrastructure transactions, including the development of a large wind farm, distributed energy and retrofit contracts, and mergers and acquisitions of several electric utilities. . Carnevale previously served on the Executive Board of the Energy Council of Canada among several industry organizations.
Jo Verstappen has shifted his focus and experience towards hydrogen and fuel cell technology over the last five years because of the huge market potential and opportunities. He has vast experience in production methodology, organization, and business development for new products. His experience is key to structuring the Company and personnel, as well as making sure the Company will have a sizable footprint in the hydrogen market.
Joel Dumaresq has 30 years of experience in the financial sector, and for the last 12 years he has been the Managing Director of the Vancouver-based private equity firm Matrix Partners Inc. Dumaresq also has Oil and Gas executive management experience in the United Kingdom, East Africa and Asia, and has been instrumental in raising over $100M for Oil and Gas ventures from public markets and industry farm-downs. He has extensive expertise in mergers and acquisitions and previously worked in a financial and investment banking role with RBC Dominion Securities. He is also the Corporate Secretary, CFO and Director of the Company.
Carmine advises governments, utilities and cleantech startups across the Middle East, North America and the Caribbean. From 2013 to 2015, Carmine served as Chief Executive Officer of Hydro One Inc., one of Canada’s largest transmission and distribution companies, with a market cap of over $20 billion and over $23 billion in assets. He served in numerous executive roles from 2003, including Asset Management and Strategy and Planning.
Anthony Durkacz has served as a director and the Executive Vice-President of First Republic Capital Corporation (“FRCC”) since 2014. Prior to co-founding FRCC, Durkacz was President of Capital Ideas Investor Relations. He previously served as the Chief Financial Officer and a director of Snipp Interactive Inc., a global marketing solutions company that provides a modular software-as-a-service technology suite. Durkacz was instrumental in the financing and public listing of Snipp Interactive Inc. with operations in Canada, the United States of America, Mexico, and India. From 2006 to 2009, he served as Chief Operating Officer and Chief Financial Officer of MKU Canada Inc. and engaged in mergers and acquisitions of companies around the world. . Durkacz also served as the Chief Financial Officer and a director of Astris Energi Inc., a dual-listed public company in the United States and Canada, which was acquired by an international conglomerate. Durkacz began his career at TD Securities Inc. on the capital markets’ trading floor. He holds an Honors Bachelor of Business Administration from Brock University with a major in both accounting and finance.
Alkaline Fuel Cell Power Corp. (NEO: PWWR) (OTCQB:ALKFF) (Frankfurt: 77R, WKN: A3CTYF) ("AFCP" or the "Company") a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech, is pleased to update investors on the development of its low-cost fuel cell technology, including a conceptual image of its recently announced 10 kW fuel cell generator, timing for deployment of six fuel cell units for pilot projects globally, and update of the Company's webpage and investor presentation. www.fuelcellpower.com
"AFCP is looking forward to deploying its four additional CE-certified low-cost fuel cell generator prototype units in 2024 and 2025, on top of the two 4kW combined heat and power ("CHP") prototypes that were already scheduled for the end of 2023," c ommented Frank Carnevale, Chief Executive Officer. " Since our technology does not require precious metals, costs are substantially lower relative to other fuel cells in the market, and is driving excitement within AFCP about bringing our line of fuel cells to market more quickly."
Accelerating AFCP's Revenue Opportunity with Expandable 10 kW Fuel Cell Generator
As announced on August 10, 2022, AFCP is developing a range of fuel cells that target more immediate revenue opportunities within the off-grid and back-up generator markets, commencing with a 4kW generator, followed by a 10kW generator. The fuel cells are expected to be integrated into larger configurations of 10kW fuel cell stacks, which range in generator size from 10kW up to 100kW.
Figure 1 – 10kW fuel cell generator conceptual image https://www.globenewswire.com/NewsRoom/AttachmentNg/32f0e46e-11e7-44b2-a74a-db87da9af5b8
Updated Timeline for CE-Certified Prototype Units
The Company is developing two prototype units for each configuration (4kW CHP, 4kW genset and 10kW genset) with the objective of ensuring a wider range of applications will be in the pilot phase to demonstrate the versatility and robust nature of the Company's alkaline fuel cell technology. All prototypes will already have complete CE-certification, a regulatory standard that verifies certain products are safe for sale and use in the European Economic Area (EEA), which will allow the Company to rapidly enter the market after its successful pilot implementation.
AFCP is expecting to build a total of six fully CE-certified prototype units in phases commencing with the following:
These upcoming prototype catalysts are complemented by the Company's PWWR Flow Stream business line, which features near-term revenue potential, including through the recently announced $2.2 million combined heat and power ("CHP") capital project for a condominium in mid-town Toronto, Canada expected to generate $16 million in revenue over the life of the service agreement.
Building upon the success AFCP has realized to date with our active CHP operations and the ongoing development of our Micro-CHP units, the Company has been actively identifying and nurturing agreements to deploy these fuel cell generator prototype units in pilot projects across Europe and North America. AFCP is engaged in ongoing discussions for pilots with municipalities, natural gas distribution companies, electric utilities, hydrogen separator companies, and generator integrators.
The Company is also actively involved in several hydrogen associations, such as Hydrogen Europe, Waters of Net, North American Hydrogen Council, and Canadian Hydrogen and Fuel Cell Association, which are instrumental at profiling and promoting the broader industry to governments, capital providers and the general public.
AFCP expects to provide further announcements as developments unfold through Q3 and Q4 2022.
Outlook to Sales and Revenue
With this update, AFCP is pleased to build on its news release dated June 20, 2022, in which the Company provided an outlook for the balance of 2022 and over the longer-term. As outlined above, AFCP is on track to have two 4kW fuel cell CHP units ready by the end of the year which are expected to receive the CE-Certification in the six months following. In addition to this certification, AFCP will also continue working on advancing its pilot programs and increasing the speed with which its fuel cells will be broadly available for sale to individuals seeking a low-cost alternative for heat and power that is accessible behind the meter.
ABOUT Alkaline Fuel Cell Power CORP. (NEO: PWWR)
AFCP is a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech. We bring ‘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.
AFCP operates through two global entities: Fuel Cell Power NV, a wholly owned subsidiary in Belgium, and PWWR Flow Streams ("PWWR Flow"), an AFCP brand in Canada.
AFCP 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 the Company 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 Exchange ("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 ".
For further information, please contact: Frank Carnevale Chief Executive Officer +1 (647) 531-8264 fcarnevale@fuelcellpower.com
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "achieve". Forward-looking statements may include, but are not limited to, statements with respect to the Company's technology, intellectual property, business plan, objectives and strategy.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
NEITHER THE NEO EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE NEO EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
News Provided by GlobeNewswire via QuoteMedia
Alkaline Fuel Cell Power Corp. (NEO: PWWR) (OTCQB:ALKFF) (Frankfurt: 77R, WKN: A3CTYF) ("AFCP" or the "Company") a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech, is pleased to announce that PWWR Flow, the combined heat and power ("CHP") brand of the Company, is advancing a CHP project of approximately $2.2 million in capital for a condominium in mid-town Toronto, Canada (the " CHP Project "). The CHP Project is expected to generate more than $16 million in total revenue for PWWR Flow over a 25-year Energy Service Agreement ( "ESA ") timeframe.
"Our PWWR Flow brand is positioned to deliver more immediate revenue and contribute to earnings for AFCP as a complement to our longer-term, hydrogen-powered alkaline fuel cells ", commented Frank Carnevale, CEO. "We are actively moving through our $50 million sales pipeline of CHP projects, and we have already begun discussions to grow beyond it."
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9e37fddf-d43f-43ca-97a4-0387efe92307
PWWR Flow Mid-town Toronto CHP Project
As outlined within the PWWR Flow acquisition closing press release dated April 22, 2022, the Company has officially notified the applicable Condo Corporation (" Condo Corp ") that PWWR Flow is moving ahead with development of the estimated $2.2 million CHP Project, targeting a July 2023 Commercial Operation Date. The ESA was signed with the Condo Corp on April 21, 2021. The CHP Project would produce electricity and heat on a 24/7 basis for the baseload of the condominium. The electricity produced will be sold to the Condo Corp at up to 20 percent discount to the market price that the Condo Corp would otherwise pay to their local electricity distribution company, which brings them significant savings. The heat produced will be sold at the price equivalent to the condominium's current heating cost. It is a high-efficiency CHP system with estimated annual efficiency of approximately 75 percent.
AFCP is immediately commencing the connection impact assessment study, required to connect in Toronto Hydro service territory, as well as the final engineering design. The Company expects to order the CHP engine in Q4 of 2022, and the Company does not anticipate any supply chain issues with delivery.
As reported in the Company's Q2 Financials on August 12, 2022, AFCP had approximately $3.1 million in cash at quarter end. To supplement this cash balance, the Company anticipates securing project debt on CHP systems, AI 2191 Yonge Ltd., and this latest project, by Q4 2022. In the interim, AFCP will continue to allocate its current cash toward further projects development.
As detailed within our June 20, 2002 press release, the Company has provided an outlook for the balance of 2022, a key component of which includes continuing to progress growth of the PWWR Flow Streams business. AFCP intends to expand the Company's asset installation base by leveraging the ongoing revenue and earnings generated through PWWR Flow as we continue to develop the $50 million worth of PWWR Flow projects in our pipeline over the next few years.
ABOUT Alkaline Fuel Cell Power CORP. (NEO: PWWR)
AFCP is a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech. We bring ‘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.
AFCP operates through two global entities: Fuel Cell Power NV, a wholly owned subsidiary in Belgium, and PWWR Flow Streams ("PWWR Flow"), an AFCP brand in Canada.
AFCP 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 the Company 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 Exchange ("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 " .
For further information, please contact:
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "achieve". Forward-looking statements may include, but are not limited to, statements with respect to the Company's technology, intellectual property, business plan, objectives and strategy.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward- looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
NEITHER THE NEO EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE NEO EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
News Provided by GlobeNewswire via QuoteMedia
Alkaline Fuel Cell Power Corp. (NEO: PWWR) (OTCQB:ALKFF) (Frankfurt: 77R, WKN: A3CTYF) ("AFCP" or the "Company") a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech, is pleased to announce that PWWR Flow, the combined heat and power ("CHP") brand of the Company, is advancing a CHP project of approximately $2.2 million in capital for a condominium in mid-town Toronto, Canada (the " CHP Project "). The CHP Project is expected to generate more than $16 million in total revenue for PWWR Flow over a 25-year Energy Service Agreement ( "ESA ") timeframe.
"Our PWWR Flow brand is positioned to deliver more immediate revenue and contribute to earnings for AFCP as a complement to our longer-term, hydrogen-powered alkaline fuel cells ", commented Frank Carnevale, CEO. "We are actively moving through our $50 million sales pipeline of CHP projects, and we have already begun discussions to grow beyond it."
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9e37fddf-d43f-43ca-97a4-0387efe92307
PWWR Flow Mid-town Toronto CHP Project
As outlined within the PWWR Flow acquisition closing press release dated April 22, 2022, the Company has officially notified the applicable Condo Corporation (" Condo Corp ") that PWWR Flow is moving ahead with development of the estimated $2.2 million CHP Project, targeting a July 2023 Commercial Operation Date. The ESA was signed with the Condo Corp on April 21, 2021. The CHP Project would produce electricity and heat on a 24/7 basis for the baseload of the condominium. The electricity produced will be sold to the Condo Corp at up to 20 percent discount to the market price that the Condo Corp would otherwise pay to their local electricity distribution company, which brings them significant savings. The heat produced will be sold at the price equivalent to the condominium's current heating cost. It is a high-efficiency CHP system with estimated annual efficiency of approximately 75 percent.
AFCP is immediately commencing the connection impact assessment study, required to connect in Toronto Hydro service territory, as well as the final engineering design. The Company expects to order the CHP engine in Q4 of 2022, and the Company does not anticipate any supply chain issues with delivery.
As reported in the Company's Q2 Financials on August 12, 2022, AFCP had approximately $3.1 million in cash at quarter end. To supplement this cash balance, the Company anticipates securing project debt on CHP systems, AI 2191 Yonge Ltd., and this latest project, by Q4 2022. In the interim, AFCP will continue to allocate its current cash toward further projects development.
As detailed within our June 20, 2002 press release, the Company has provided an outlook for the balance of 2022, a key component of which includes continuing to progress growth of the PWWR Flow Streams business. AFCP intends to expand the Company's asset installation base by leveraging the ongoing revenue and earnings generated through PWWR Flow as we continue to develop the $50 million worth of PWWR Flow projects in our pipeline over the next few years.
ABOUT Alkaline Fuel Cell Power CORP. (NEO: PWWR)
AFCP is a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech. We bring ‘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.
AFCP operates through two global entities: Fuel Cell Power NV, a wholly owned subsidiary in Belgium, and PWWR Flow Streams ("PWWR Flow"), an AFCP brand in Canada.
AFCP 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 the Company 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 Exchange ("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 " .
For further information, please contact:
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "achieve". Forward-looking statements may include, but are not limited to, statements with respect to the Company's technology, intellectual property, business plan, objectives and strategy.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward- looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
NEITHER THE NEO EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE NEO EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
News Provided by GlobeNewswire via QuoteMedia
Alkaline Fuel Cell Power Corp. (NEO: PWWR) (OTCQB:ALKFF) (Frankfurt: 77R, WKN: A3CTYF) ("AFCP" or the "Company") a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech, is pleased to announce today that the Company has filed its financial and operating results for the three and six month periods ended June 30, 2022. Select financial and operational information is outlined below and should be read in concert with AFCP's consolidated financial statements and management's discussion and analysis ("MD&A") for the second quarter and first half 2022, available on SEDAR at www.sedar.com and on AFCP's website at www.fuelcellpower.com .
"AFCP is diversifying its investments into more immediate revenue generating investments such as its CHP assets, and improving its ability to bring its fuel cells to market, quicker," commented Frank Carnevale, Chief Executive Officer. "Investors want a more de-risked investment platform, and we're on our way to delivering."
AFCP realized significant progress and advancements during the second quarter of 2022, including the following highlights:
As reported on June 20, 2022, the Company provided an outlook for the for balance of 2022 and over the longer-term. The Company will continue to update on the success over the coming months. Outlined below are a few of the objectives:
Ongoing Growth of PWWR Flow Streams
Continue to Progress Commercialization of Fuel Cell Power NV
ABOUT Alkaline Fuel Cell Power CORP. (NEO: PWWR)
AFCP is a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech. We bring ‘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.
AFCP operates through two global entities: Fuel Cell Power NV, a wholly owned subsidiary in Belgium, and PWWR Flow Streams ("PWWR Flow"), an AFCP brand in Canada.
AFCP 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 the Company 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 Exchange ("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 ".
For further information, please contact:
Frank Carnevale Chief Executive Officer +1 (647) 531-8264 fcarnevale@fuelcellpower.com
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "achieve". Forward-looking statements may include, but are not limited to, statements with respect to the Company's technology, intellectual property, business plan, objectives and strategy.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward- looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
NEITHER THE NEO EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE NEO EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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Alkaline Fuel Cell Power Corp. (NEO: PWWR) (OTCQB: ALKFF) (Frankfurt: 77R, WKN: A3CTYF) ("AFCP" or the "Company") a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech, is pleased to announce that the Company is supplementing the ongoing development of our 4 kW Combined Heat and Power (" CHP ") fuel cell by developing a range of fuel cells that target more immediate revenue opportunities within the off-grid and back-up generator markets.
"A number of global pressures are driving rapid growth and accelerating the revenue potential of the generator market at a pace that exceeds the mass home market, and AFCP is ideally positioned to use our cost-effective alkaline technology to meet this growing demand," commented Frank Carnevale, Chief Executive Officer of AFCP. "By leveraging our existing staff and resources in Belgium and Czech Republic, we anticipate being able to generate revenue earlier by selling our fuel cells into the burgeoning generator market."
Off-Grid and Back-up Generator Systems In 2021, the global portable generator market had a value estimated at US$4.6 billion with that figure expected to grow to US$6.7 billion by 2027, representing a CAGR of 6.5% over the period 1 . AFCP is developing fuel cells of varying power output capacities to satisfy these off-grid and back-up generator markets, including fuel cell configurations with an expected stacked range between 40kW and 100kW generator systems. These configurations build on AFCP's current design for the 4kW CHP system, incorporating different membrane technology into larger fuel cells suitable for servicing the generator market.
Discussions with integrators are ongoing and AFCP will collaborate with them to gain access to assembly, sales, marketing, and maintenance capabilities for customers, with the goal of targeting systems that have a power capacity of between 40kW and 100kW with our alkaline fuel cell, including the following:
Global players currently operating within the above segments provide diesel generators which feature a significant carbon footprint compared to the zero-emission alternative offered by AFCP's fuel cells.
Key Advantages of AFCP's Alkaline Technology Alkaline fuel cell technology offers a number of meaningful advantages compared to other fuel cell types, including:
Emerging Trends in the Off-Grid Generator Segment The construction sector is a large market and accounts for 36% of global energy use and 38% of energy-related CO 2 emissions. This sector has a large demand for off-grid power generation that is currently being met by diesel power generators and aligns with the heavy transportation sector given both sectors use diesel fuel as the main energy carrier 2 .
As a result, there will be significant challenges adhering to future CO 2 and pollution regulations. For example, in April of 2022, the UK changed its legislation to restrict the use of tax free diesel in generators, which renders hydrogen powered generators as an interesting alternative both ecologically and economically. Across Europe and the UK, the power generation market shows annual sales of nearly 1 billion EUR, while globally that figure is estimated at 20 billion EUR. The market segment being targeted by AFCP represents 65% of this figure and the Company expects that demand for zero emission power generators will grow rapidly driven by the increasing emission restrictions 3 .
The growth potential of this new market is not limited to the sale of new generators; it also includes the replacement of installed generators that no longer meet stricter emission regulations. The anticipated installed base of old diesel generators is forecast between 15 and 20 billion EUR in Europe and the UK and 400 billion EUR world-wide 4 .
Diversification Lends Strength for Second Half of 2022 and Beyond On June 20, 2022, the Company released an outlook for the second half of 2022, and AFCP's expansion into the back-up and off-grid generator markets is consistent with our drive to further accelerate and ramp up efforts to bring fuel cells to market globally. The Company's inclusion of fuel cells for the generator market enables AFCP to generate revenue in the near term while the distribution system for hydrogen to be delivered to homes continues to advance, supporting our long-term goal of providing micro-CHP Alkaline Fuel Cell Power systems to the market. Off-grid and back-up fuel cell generators can operate using tanks of hydrogen that are stored on site, thus eliminating the need for hydrogen to be distributed directly to local sites.
ABOUT ALKALINE FUEL CELL POWER CORP. (NEO: PWWR) AFCP is a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech. We bring ‘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.
AFCP operates through two global entities: Fuel Cell Power NV, a wholly owned subsidiary in Belgium, and PWWR Flow Streams ("PWWR Flow"), an AFCP brand in Canada.
AFCP 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 the Company 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 Exchange ("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 ".
For further information, please contact:
Frank Carnevale Chief Executive Officer +1 (647) 531- 8264 fcarnevale@fuelcellpower.com
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "achieve". Forward-looking statements may include, but are not limited to, statements with respect to the Company's technology, intellectual property, business plan, objectives and strategy.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward- looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
NEITHER THE NEO EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE NEO EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
1 Research and Markets : Portable Generator Market, Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027 2 BBC Article on Zero-Emission Construction Sites , June 22, 2021 3 Internal AFCP Market research 4 European non-road mobile machinery directive
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Playground Ventures Inc. (CSE: PLAY) (the "Company" or "Playground") announces that further to its press release of June 17, 2022, due to unforeseen circumstances, Ms. Kaylee Whitcroft is unable to continue her tenure as the Chief Financial Officer of the Company. Mr. Whitcroft will continue as the Company's Operations Accounting Manager. The Company and the board of directors have begun the search to find Ms. Whitcroft's replacement. The board of directors have approved the appointment of Mr. Jon Gill as the Company's Interim Chief Financial Officer.
In addition, the Company announces that it has issued secured promissory grid notes (the "Bridge Notes") to certain lenders (the "Lenders") of the Company for available proceeds to the Company of up to $70,000 (the "Loan"). The Loan has a term until December 31, 2022 (the "Term"), and is secured against all of the assets of the Company. The Corporation may draw on the available proceeds of the Loan from time to time during the Term, and any amounts outstanding under the Bridge Note shall bear interest of 8% per annum, payable with any outstanding principal at the end of the Term.
The Loan contains certain other customary financial and other covenants, and will be used for general working capital purposes. The Bridge Notes are intended to provide immediate capital to the Company while it seeks additional sources of capital, which may include the future issuance of other debt or equity securities, including, without limitation, a formal credit facility, whether with the Lenders or otherwise, to meet the Company's long term capital needs.
One of the Lenders is a director, officer and a shareholder (the "Insider Subscription") of the Company. The Insider Subscription is considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements contained in 5.5(b) and 5.7(1)(e) of MI 61-101, as the Company is not listed on a specified market and the Company is in financial hardship. The Company did not file a material change report more than 21 days before issuing the Bridge Notes as the details of the above mentioned Insider Subscription were not settled until shortly prior to closing, and the Company wished to close on an expedited basis.
The Loan was approved by the members of the board of directors of the Company who are independent for the purposes of the Loan, being all directors other than Mr. Gill. No special committee was established in connection with the Bridge Notes, and no materially contrary view or abstention was expressed or made by any director of the Company in relation thereto.
For further information, please contact:
Jon Gill, Chairman and Interim Chief Financial Officer
This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/135093
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New Bloom lab in the Chicago area will serve as a foothold in the midwestern United States
Bloom Health Partners Inc. (CSE: BLMH) (OTCQB: BLMHF) (FSE: D84) ("Bloom" or the "Company"), a leading provider of operational health and health technology, announces the opening of a new location in the Chicago area.
The new location provides expanded laboratories for operational health services and diagnostic testing to meet continued demand. As part of this expansion, Bloom has also added a local team. The Chicago location will serve film/TV productions in addition to new opportunities with Fortune 500 and organizations in the surrounding area.
"Our Chicago presence will support our growth plans in one of America's busiest business regions," said Andrew Morton, CEO of Bloom. "We're focused on growing occupational health-tech for our clients. With supporting facilities in key hub cities like Dallas, Atlanta and now Chicago, Bloom is well-positioned to support current and future clients in strategic markets."
Bloom also announces it has closed the third and final tranche of its previously announced non-brokered private placement offering (the "Offering") and has issued 375,000 units (the "Units") at $0.20 per Unit for gross proceeds of C$75,000. Combined with the first and second tranche of the Offering, the Company has issued 8,295,000 Units for aggregate gross proceeds of C$1,659,000. The Units are comprised of (i) one (1) common share in the capital of the Company ("Common Shares"); and (ii) one-half (1/2) of a transferable common share purchase warrant (each whole warrant, a "Warrant" and collectively, the "Warrants"). Each Warrant entitles the holder thereof to acquire one (1) additional Common Share (each, a "Warrant Share") in the capital of the Company at a price of $0.30 per Warrant Share until December 26, 2023. The net proceeds of the Offering will be used by the Company for ongoing working capital and corporate development.
In connection with closing the third tranche of the Offering, the Company paid C$4,500 and issued 22,500 Warrants, exercisable at a price of $0.30 per Warrant Share until December 26, 2023 to an arms-length party who assisted in introducing subscribers to the Offering. All securities issued in connection with the Offering are subject to a statutory hold period until December 26, 2022 in accordance with applicable securities laws.
About Bloom Health Partners Inc. Bloom Health Partners Inc. (CSE: BLMH) (OTCQB: BLMHF) (FSE: D84) is a global platform for healthcare security, diagnostic testing and occupational health-tech. Our mission is to ensure that "unstoppable is possible" for businesses and their employees through innovative, customized healthcare models. Bloom offers a system for businesses and organizations that helps engage employees and creates strategies to manage health and safety. Our stable, scalable system is an integrated health-tech platform that securely manages data while delivering comprehensive workplace health and safety outcomes.
For more information: info@bloomhealthpartners.com
On behalf of the board of directors,
Andrew Morton, Chief Executive Officer
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in the Company's forward-looking statements include the potential that milestones may not be satisfied, acquisitions may not achieve expected benefits, financing requirements, and the other risk factors described in the Company's filings with Canadian securities regulators on www.sedar.com. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S.
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Nanalysis Scientific Corp. ("the Company", TSXV: NSCI OTCQX: NSCIF FRA: 1N1 ), a leader in portable NMR machines and MRI technology for healthcare and industrial applications, releases its second quarter results ending June 30, 2022. Chief Executive Officer, Sean Krakiwsky and Interim Chief Financial Officer, Randall McRae will host a conference call at 5 P.M. Eastern Time today to discuss the results. A second call will be held for European investors at 8:30am ET on Friday August 26 th . All interested parties are invited to join these calls.
"We continue to record substantial year over year revenue growth," said Sean Krakiwsky, Founder and CEO of Nanalysis. "With that being said, we are not satisfied with our Q2 revenue results, and a lot of focus is being given to regain our previous trajectory. In the second quarter a lot of time, focus, and resources were given to closing the $160 million CATSA contract, which we did on May 25 th . Additionally, we underestimated certain operational challenges associated with scaling our benchtop NMR sales organization which impacted our Q2 revenue. We have redoubled our efforts in this area, which is going well, as are other important areas of our business, and are seeing improvments in the current quarter."
Financial highlights for the three months ended June 30, 2022:
Recent strategic and operational highlights during and subsequent to the second quarter of 2022 include:
For the six months ended June 30, 2022 , the Company reported consolidated revenue of $10,741K , an increase of $3,129K or 41% from the comparative period in 2021. The increase from Q2 prior year can be attributed to the shipment of more units of the 100MHz, coupled with revenue from the recent acquisition, K'Prime.
Gross profit for the six months ended June 30, 2022 , was $6,577K (a margin of 61%) compared to gross profit of $5,037K (a margin of 66%) for the six months ended June 30, 2021 .
The Company's net loss for the six months ended was $(4,024K) , as compared to the six-month loss June 30, 2021 , of $(253K) . The increased loss was due to higher costs, specifically sales and marketing expenses, increased general and administration expenses and increased research and development expenses, both in the Nanalysis segment and from the new acquisitions. In addition, there were business acquisition costs from the two transactions completed, increased depreciation and amortization expense, increased finance expense partially offset by no RS2D earnout in the quarter and increased revenues.
"Our main objective through next year is to capitalize on our recent acquisitions and CATSA service contract. This means we are restructuring and refocusing our benchtop NMR salesforce; we expect to launch the full multi-module high-field NMR product at Quad Systems, and are successfully executing on a methodical rollout of coverage across Canada's airports for the CATSA project," said Sean Krakiwsky .
"We do believe that by the end of 2022, it will become clear that Nanalysis is well positioned for solid growth for years to come, with a strong economic moat, and a motivated team energized for the future. Operational excellence still remains our most important mantra, as we will continue to leverage existing customer relationships, along with our technologies, to fuel growth. So, the rest of 2022 is about consolidation, execution and capitalizing on synergies. We are confident that we will deliver the value we've created by our recent acquisitions to our shareholders," concluded Mr. Krakiwsky.
Investors interested in participating on the live call can dial 1-888-664-6392 or 416-764-8659 from abroad. Investors can also access the call online through a listen-only webcast here: https://app.webinar.net/32l7RdQB0Zw , or on the investor relations section of the Company's website HERE . The webcast will be archived on the Company's investor relations webpage for at least 90 days and a telephonic playback will be available for seven days after the conference call by calling 1-888-390-0541 or 416-764-8677, conference ID # 484317.
Additionally, the Company will be hosting a Q&A session for it's European investors tomorrow, Friday, August 26 th at 8:30am ET which can be accessed by the following link: Click here to join the meeting ,or call in (audio only) +1 437-703-4522, Phone Conference ID: 636 080 139#.
Nanalysis trades on the TSX Venture Exchange (TSXV) in Canada with ticker symbol 'NSCI', OTC and the Frankfurt exchange under the ticker symbol '1N1'. The company's business is what we term "MRI and NMR for industry". The company develops and manufactures portable Nuclear Magnetic Resonance (NMR) spectrometers or analyzers for laboratory and industrial markets. The NMReady-60™ was the first full-feature portable NMR spectrometer in a single compact enclosure requiring no liquid helium or any other cryogens. The company has followed-up that initial offering with new products and continues to have a strong innovation pipeline. Nanalysis recently announced that it has begun selling a 100MHz device in 2020. The Company's new device will be the most powerful and most advanced compact NMR device ever brought to market.
Nanalysis devices are used in many industries (oil and gas, chemical, mining, pharma, biotech, flavor and fragrances, agrochemicals, law enforcement, and more) as well as numerous government and university research labs around the world. The Company continues to exploit new global market opportunities independently and with partners.
With the recent acquisition of K'Prime, the company maintains a North American sales and service company of over 40 individuals who cover scientific instrumentation for pharma, food, chemical and oil & gas customers, as well as imaging systems for security applications.
Additionally, the Company has a 43% ownership in Quad Systems AG ("Quad Systems"), with an option to purchase the remaining shares. Quad Systems is a Zurich-based Nuclear Magnetic Resonance (NMR) company focused on high-field NMR for pharmaceutical and other vertical markets.
This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "anticipates", "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed", "positioned" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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dynaCERT Inc. (TSX: DYA) (OTCQX: DYFSF) (FRA: DMJ) ("dynaCERT" or the "Company") is pleased to announce that the Chief Program Development and Innovation Officer of Verra signed an agreement engaging Earthood Services Private Limited (Earthood") to provide independent third-party verification services related to dynaCERT's application under Verra's Verified Carbon Standard ("VCS") programme.
In summary, dynaCERT and Verra have achieved the following steps in regard to dynaCERT's Carbon Credit initiatives:
dynaCERT , Earthhood, Verra and, dynaCERT's consultant, International Environmental Partners Limited are now currently engaged in completing the VCS process with a view to dynaCERT's Carbon Credits achieving Verra's Verified Carbon Standard.
Dr. Kaviraj Singh, Managing Director of Earthood, stated, "It is a pleasure to be associated with dynaCERT through Verra for this methodology validation. We will put in our absolute best efforts to review the methodology as proposed and come up with quality results. If done right, we believe that this could be a game changer for the sector and we are looking forward to finishing this assessment in quick time, as we understand that this has been much awaited."
Archit Srivastava, General Manager, Strategic Business of Earthood, stated, "Having done several such assignments with Verra on the front of methodology validations, I am confident that Earthood will carry out a just assessment with transparency and accuracy. We have been known in the carbon markets for delivering many ‘first-of-its-kind' projects, and this one is another opportunity to retain and enhance the brand image that Earthood has built over the years."
Monika Wojcik, CEO of Global Environmental Partners, dynaCERT's consultant for the VCS application, stated, "Most sectors can use alternative technologies and processes to reduce the emissions from their operations and supply chains as well as the emissions associated with the products they sell, but some activities are hard to decarbonize. Innovation and policy developments will enable progress and must be developed at speed, but additional solutions to help tackle emissions in the short term are needed. The carbon credits earned by dynaCERT's users of its HydraGEN™ Technology will help businesses, that are turning to voluntary carbon markets to increase their decarbonization efforts."
Jim Payne, President and CEO of dynaCERT stated, " dynaCERT is very pleased to have now reached this point where Verra has approved the engagement of Earthood to verify our application under the Verified Carbon Credit Standard and we thank them both for this important milestone. Our HydraLytica™ software collects data on the vehicles with the integrated HydraGEN™ technology. This telematics device software displays fuel savings and carbon emission reports. HydraLytica™ allows truck drivers or vehicle owners to monitor on their computers automatically calculated diesel fuel savings and emission reduction reports with the HydraGEN™ Technology, in real-time. Our Technology is being marketed globally and is designed to offer the benefits of reducing fuel consumption in internal combustion engines. In addition, HydraGEN™ Technology reduces Greenhouse gases (GHG's) and allows users to significantly lower their Carbon Footprint and contribute to the Net-Zero goals of mankind."
dynaCERT Inc. manufactures and distributes Carbon Emission Reduction Technology for use with internal combustion engines. As part of the growing global hydrogen economy, our patented technology creates hydrogen and oxygen on-demand through a unique electrolysis system and supplies these gases through the air intake to enhance combustion, resulting in lower carbon emissions and greater fuel efficiency. Our technology is designed for use with many types and sizes of diesel engines used in on-road vehicles, refrigerated trailers, off-road construction, power generation, mining and forestry equipment, marine vessels and railroad locomotives. Website: www.dynaCERT.com .
READER ADVISORY Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to, the information contained herein by Verra and Earthood Services Private Limited which cannot be independently verified. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance of achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: uncertainty as to whether our strategies and business plans will yield the expected benefits; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; the uncertainty of the emerging hydrogen economy; including the hydrogen economy moving at a pace not anticipated; our ability to secure and maintain strategic relationships and distribution agreements; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com . Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
Neither The Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of The Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of the release.
On Behalf of the Board
View source version on businesswire.com: https://www.businesswire.com/news/home/20220825005203/en/
Jim Payne, CEO & President dynaCERT Inc. #101 – 501 Alliance Avenue Toronto, Ontario M6N 2J1 +1 (416) 766-9691 x 2 jpayne@ dynaCERT .com Investor Relations dynaCERT Inc. Nancy Massicotte +1 (416) 766-9691 x 1 nmassicotte@ dynaCERT .com
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Graphene Manufacturing Group Ltd. (TSXV: GMG) ("GMG" or the "Company") is pleased to provide an update to the composition of the Company's board of directors and company secretary roles which will support the Company as it proceeds into its next phase of development.
GMG's CEO Craig Nicol stated, "I'm looking forward to Frederick's and Anj's additional contributions following their displays of high quality leadership and professionalism in their roles."
Guy Outen, GMG's Chair added, "I'm delighted to welcome Frederick to the board and Anj as a Company Secretary. Their past successes in various companies in these respective roles and recent contributions to GMG give me confidence that they will be great assets to the board and in supporting GMG's significant aspirations."
GMG is a clean-technology company which seeks to offer energy saving and energy storage solutions, enabled by graphene, including that manufactured in-house via a proprietary production process.
GMG has developed a proprietary production process to decompose natural gas (i.e. methane) into its elements, carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high quality, low cost, scalable, 'tuneable' and low/no contaminant graphene suitable for use in clean-technology and other applications. The Company's present focus is to de-risk and develop commercial scale-up capabilities, and secure market applications.
In the energy savings segment, GMG has focused on graphene enhanced heating, ventilation and air conditioning ("HVAC-R") coating (or energy-saving paint), lubricants and fluids. In the energy storage segment, GMG and the University of Queensland are working collaboratively with financial support from the Australian Government to progress R&D and commercialization of graphene aluminium-ion batteries ("G+AI Batteries").
For further information, please contact: - Craig Nicol, Chief Executive Officer and Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223 - Leo Karabelas at Focus Communications, info@fcir.ca, +1 647 689 6041
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/134697
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TSX:NANO)(OTC PINK:NNOMF)(Frankfurt:LBMB
nano one® Materials Corp. ("nano one") is a clean technology company with patented processes for the low-cost, low-environmental footprint production of high-performance cathode materials used in lithium-ion batteries. nano one is pleased to highlight the granting of two (2) more patents in Japan and the receipt of approximately C$1.8 million in non-dilutive, non-repayable contributions from Sustainable Development Technology Canada ("SDTC") and the British Columbia Innovative Clean Energy ("BC-ICE") fund toward the fourth and final milestone of the Scaling Advanced Battery Materials project, as outlined in nano one's Management's Discussion & Analysis for June 30, 2022, filed on August 4, 2022.
"nano one has seen tremendous growth during this SDTC project," said nano one CTO Dr. Stephen Campbell, "and this has helped us transition to the final milestone. We have advanced our technology and added to our partnerships, made a significant acquisition, and landed an important strategic investment. With these recent patent issuances, we continue to execute successfully on the expansion and value of our Intellectual Property portfolio. This latest project contribution from SDTC and BC-ICE is a strong endorsement of our progress, goals, and path to commercialization."
nano one previously tripled the footprint of its innovation hub in Burnaby B.C. and during this third milestone of 10 months, nano one has grown its team by approximately sixty percent (60%) to over sixty (60) people, acquired significant pieces of equipment and scaled its third-party sampling capabilities for lithium iron phosphate ("LFP") and lithium nickel manganese cobalt oxide ("NMC").
During this period, nano one made patent applications, process and equipment improvements, and added LFP its metal to cathode active material activities ("M2CAM®"). Coupled with third-party engineering studies and extensive economic modeling, nano one has demonstrated, in confidence to existing and potential partners, competitive reductions in its cost estimates and an advantageous environmental footprint for future commercial scale plant and operations.
Furthermore, nano one added a strategic investment by Rio Tinto, and co-development programs with BASF, Johnson Matthey, CBMM, Euro Manganese, and several undisclosed automotive OEMs and materials companies, all relating to LFP and NMC cathodes, and supporting the SDTC project objectives. Further to this, nano one's pending acquisition of Johnson Matthey Battery Materials Canada and their LFP business in Candiac, Québec, will help fast track commercialization efforts.
Support for the Scaling Advanced Battery Materials project from SDTC and BC-ICE was previously announced on May 31, 2019 and May 6, 2020, respectively, and this is the third installment towards $8.2M in project contributions over 4 milestones.
The two Japanese patents relate to the One-Pot formation of niobium coated spinel (lithium nickel manganese oxide, "LNM") and to a method of forming lithium mixed metal oxides such as lithium nickel manganese cobalt oxide ("NMC"). Development of these patents has been supported in part by advisory services and research and development funding from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) and brings nano one's granted patents to a total of twenty-four (24) with approximately forty-seven (47) patents pending in various jurisdictions around the world.
About Sustainable Development Technology Canada (SDTC)
At SDTC, we support companies attempting to do extraordinary things.
From initial funding to educational support and peer learning to market integration, we are invested in helping our small and medium-sized businesses grow into successful companies that employ Canadians from coast to coast to coast. We are relentlessly focused on supporting our companies to grow and scale in an increasingly competitive marketplace.
The innovations we fund help solve some of the world's most pressing environmental challenges: climate change, regeneration through the circular economy, and the well-being of humans in the communities they live in and the natural environment they interact with.
Since its inception, SDTC has invested nearly $1.4 billion in more than 450 companies, creating nearly 17,000 jobs. Our companies have reduced greenhouse gas emissions by an estimated 22.4 megatons annually. For more information, please visit sdtc.ca
The ICE Fund is a Special Account, funded through a levy on certain energy sales, designed to support the Province's energy, economic, environmental and greenhouse gas reduction priorities, and to advance B.C.'s clean energy sector. Since 2008, the ICE Fund has committed approximately $110 million to support pre-commercial clean energy technology projects, clean energy vehicles, research and development, and energy efficiency programs. On March 13, 2017, the Province announced a joint call partnership with Sustainable Development Technology Canada to support the development of pre-commercial clean energy projects and technologies.
nano one® Materials Corp (nano one) is a clean technology company with a patented, scalable and low carbon intensity industrial process for the low-cost production of high-performance lithium-ion battery cathode materials. The technology is applicable to electric vehicle, energy storage, consumer electronic and next generation batteries in the global push for a zero-emission future. nano one's One-Pot process, its coated nanocrystal materials and its Metal to Cathode Active Material (M2CAM®) technologies address fundamental performance needs and supply chain constraints while reducing costs, complexity and environmental footprint. nano one has received support and funding from various government programs including the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP), Sustainable Development Technology Canada (SDTC) and Innovative Clean Energy Fund of the Province of British Columbia ("BC-ICE"). For more information, please visit www.nanoone.ca
Company Contact: Paul Guedes info@nanoone.ca (604) 420-2041
Certain information contained herein may constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking information in this news release includes but is not limited to: the results of any milestones achieved within the "Scaling Advanced Battery Materials" project jointly funded by SDTC and the British Columbia ICE fund, current and future collaboration engineering, and optimization research projects; closing of the pending acquisition of the Candiac facility in Québec; the execution of the nano one's plans, development of materials, methods of production and study for pre-pilot, pilot and scaled up manufacturing on the path to commercialisation which are contingent on support and grants; successful collaboration with Rio Tinto; and the commercialization of the nano one's technology and patents. Generally, forward-looking information can be identified by the use of terminology such as 'believe', 'expect', 'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may', 'will', 'should', 'ongoing', ‘target', ‘goal', ‘potential' or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the current opinions and estimates of management as of the date such statements are made are not, and cannot be, a guarantee of future results or events. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of nano one to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including but not limited to: the ongoing and any potential future collaborations with SDTC, the British Columbia ICE Fund and any of the consortium partners and the ability to complete the remaining milestones to access the remaining funds, closing of the pending acquisition of the Candiac facility in Québec; the execution of the nano one's plans, development of materials, methods of production and study for pre-pilot, pilot and scaled up manufacturing on the path to commercialisation which are contingent on support and grants; successful collaboration with Rio Tinto; and the commercialization of the nano one's technology and patentsand other risk factors as identified in nano one's MD&A and its Annual Information Form dated March 28, 2022, both for the year ended December 31, 2021, and in recent securities filings for nano one which are available at www.sedar.com. Although management of nano one has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. nano one does not undertake any obligation to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.
SOURCE: nano one materials corp.
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