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Alkaline Fuel Cell Power Corp. (NEO: PWWR) (OTCQB:ALKFF) (Frankfurt: 77R, WKN: A3CTYF) (" PWWR " or the " Company "), a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech, is pleased to announce that its wholly owned Belgium subsidiary, Fuel Cell Power NV (" FCP NV "), has launched the prototype of its micro-combined heat and power (" CHP ") fuel cell, named Jupiter 1.0 .
"Alkaline Fuel Cell Power is proud to present the prototype of our fuel cell system for homes and small buildings - Jupiter 1.0," stated Frank Carnevale, Chief Executive Officer of PWWR. "The Jupiter 1.0 prototype will be piloted with select strategic partners to demonstrate the advantages of delivering green hydrogen to homes and small buildings, globally. We thank staff for their dedication and effort to complete this important milestone on time."
Figure 1- FCP NV development team with completed fuel cell system prototype - Jupiter 1.0
Jupiter 1.0
The planet Jupiter is made up of roughly 90% hydrogen, and similarly, this PWWR fuel cell converts hydrogen to heat and electricity at approximately 90% efficiency. Jupiter 1.0 is built to supply power during peak demand periods and serves as a back-up when required for homes and small buildings.
Jupiter 1.0 has successfully demonstrated its capabilities by powering several appliances and providing hot water within the Company's Belgian facility. At capacity, Jupiter 1.0 is expected to deliver approximately 7kW for the first hour of use, with a 4kW electrical output afterward representing approximately 3.2 kWh equivalent in heating output. The use of internal batteries enables Jupiter 1.0 to deliver higher peak power when called upon in the first hour of use. Over the coming months, additional enhancements will be made to the system prior to submission for CE-certification (a regulatory standard that verifies certain products are safe for sale and use in the European Economic Area) and prior to pilot projects.
PWWR has been working to optimize innovation for hydrogen-powered fuel cells that operate in an alkaline environment, which offer meaningful cost benefits. Such technology, and therefore Jupiter 1.0, requires fewer components compared to conventional fuel cells and also eliminates the need for expensive, precious metals such as platinum which have traditionally been required in the electrodes. PWWR's systems will therefore be more cost-effective to build and offer a competitive advantage over existing fuel cells. Jupiter 1.0 is currently stationed in the FCP NV plant in Belgium.
Figure 2- Jupiter 1.0 delivering power and heat to appliances and a boiler
Pilot Projects
As announced on September 20, 2022 and November 22, 2022 , PWWR is in the process of negotiating two pilot projects which will demonstrate the mutual technologies and business cases with the use of hydrogen extraction from natural gas pipelines, and the use of ammonia converted to hydrogen as a back-up power solution for remote sites. PWWR, in coordination with its partners, continues to narrow down sites for these pilots, and will provide ongoing updates as developments are confirmed.
Management Update
With the launch of Jupiter 1.0, PWWR moves into a more strategic focus on the completion of prototypes for CE-certification and deployment in pilot projects. Jo Verstappen, Managing Director of FCP NV has resigned in his role. The Company offers its gratitude and appreciation for his guidance to launch the prototype. Frank Carnevale, Chief Executive Officer of Alkaline Fuel Cell Power Corp, has assumed management of FCP NV, and is actively reviewing and developing the commercialization strategies and tactics to bring Jupiter 1.0 and fuel cell generator to markets, globally.
ABOUT Â ALKALINE Â FUEL Â CELL Â POWER Â CORP.
The Company 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.
The Company operates through two global entities: Fuel Cell Power NV, a wholly owned subsidiary in Belgium, and PWWR Flow Streams ("PWWR Flow"), a Company brand in Canada.
- Fuel  Cell  Power  NV is focused on the development, production and commercialization of micro-combined heat and power ("micro-CHP") systems and off-grid and back-up power generators based on advanced alkaline fuel cell technology that generates zero CO2 emissions. Fuel Cell Power NV is working through milestones to deliver a commercialized alkaline fuel cell in 2024.
- PWWR Flow is focused on the development, ownership and operations of combined heat and power ("CHP") assets. PWWR Flow assets deliver efficiency improvements of over 20% with reduced costs to customers in multi-residential and commercial applications. PWWR Flow has contracted existing CHP assets in Toronto, Canada, and has an additional pipeline of potential contracts valued at over $50 million currently in development.
The Company 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 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
Alkaline Fuel Cell Power Corp
+1 Â (647) Â 531- Â 8264
fcarnevale@fuelcellpower.com
www.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 in this news release may include, but are not limited to, expectations and intended use of CHP system, Juniper 1.0; efficiencies of the CHP system; the ability to successfully bring the CHP system to market; future pilot projects of the Company and future strategic initiatives and plans of the Company and FCP NV.
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.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/418691fc-3249-4b23-89fd-4d33359eae01
https://www.globenewswire.com/NewsRoom/AttachmentNg/dd7508c7-5de0-4efd-b162-95ac0fb6b44a
