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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:
- Cell towers / weather stations
- Highways / rail monitoring
- Rescue & military
- Residential
- Datacentre / hospital / industrial
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:
- lower cost, as no precious metals are required, which enables affordable mass production;
- operable with less pure "industrial" hydrogen that may contain up to 10 parts per million of carbon monoxide; a capability not shared by other fuel cell technologies;
- functional at very low temperatures (-35°C); and
- a less complex balance of plant.
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 Â ALKALINE Â FUEL Â CELL Â POWER Â CORP. Â (NEO: Â 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.
- Fuel Cell Power NV is focused on the development, production and commercialization of micro-combined heat and power ("micro-CHP") systems 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.
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 Â (647) Â 531- Â 8264
fcarnevale@fuelcellpower.com
Forward-Looking  Information
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
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/59d57782-be00-4119-92c1-de4c7e33da08
