Cleantech

Tantalus Systems (TSX: GRID) ("Tantalus" or the "Company"), a smart grid technology company focused on helping build sustainable utilities for the future, is pleased to announce that the Company will release its second quarter 2022 financial results on Tuesday, August 9, 2022, after the market closes. The Company will hold a conference call and webcast to discuss the financial results on Wednesday, August 10, 2022, at 11:00 am Eastern Time.

Conference Call

Participant Dial In (Toll Free) 1-844-854-4410

Participant International Dial In 1-412-317-5791

Participants, please ask to be joined to the Tantalus Systems call.

Webcast

https://event.choruscall.com/mediaframe/webcast.html?webcastid=nEEOr7AX

Replay Information

A conference call replay will be available until August 17, 2022. The webcast will be available until August 10, 2023 at the link set out above.

To access the conference call replay, please see details below:

US Toll Free: 1-877-344-7529

International Toll: 1-412-317-0088

Canada Toll Free: 1-855-669-9658

Replay Access Code 3817309

About Tantalus Systems Holding Inc. (TSX: GRID)

Tantalus is a smart grid technology company that transforms aging one-way grids into future-proofed multi-directional grids that improve the efficiency, reliability and sustainability of public power and electric cooperative utilities and the communities they serve. Our solutions are purpose-built to allow utilities to restore power quickly after major disruptions, adapt to rapidly shifting consumer expectations and population shifts, innovate new solutions based on the adoption of distributed energy resources and evolve their grid infrastructure at their own pace without needless cost or complexity. All this gives our user community the flexibility they need to get the most value from existing infrastructure investments while planning for future requirements. Learn more at www.tantalus.com.

Forward-Looking Information:

This news release includes information, statements, beliefs and opinions which are forward-looking, and which reflect current estimates, expectations and projections about future events, and other statements that contain words such as "believe," "expect," "project," "should," "seek," "anticipate," "will," "intend," "positioned," "risk," "plan," "may," "estimate" or, in each case, their negative and words of similar meaning. By its nature, forward-looking information involves a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking information. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. Readers should not place undue reliance on forward-looking information, which is based on the information available as of the date of this news release and Tantalus disclaims any intention or obligation to update or revise any forward-looking information contained in this new release, whether as a result of new information, future events or otherwise, unless required by applicable law. The forward-looking information included in this new release is expressly qualified in its entirety by this cautionary statement.

Contact Tantalus:
Jacquie Hudson
Marketing Communications Manager
613-552-4244 | jhudson@tantalus.com

Deborah Honig
Investor Relations
647-203-8793 | deborah@adcap.ca

Website: www.tantalus.com
LinkedIn: LinkedIn/company/tantalus
Twitter: @TantalusCorp

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/131207

News Provided by Newsfile via QuoteMedia

GRID:CA
"smart grid"

Tantalus Systems


Keep reading...Show less
Tantalus Systems Holding Inc. Reports Financial Results for Q2 of 2022

Tantalus Systems Holding Inc. Reports Financial Results for Q2 of 2022

Tantalus Systems (TSX: GRID) ("Tantalus" or the "Company"), a smart grid technology company focused on helping build sustainable utilities for the future, is pleased to announce its financial and operating results for the second quarter ended June 30, 2022.

"We are pleased with the progress our team continues to make in 2022 despite operating in a challenging business environment. In addition to delivering revenue growth of approximately 13% in the quarter as compared to last year, we also had 5 new utilities join our user community during Q2," stated Peter Londa, President & CEO of Tantalus. "In addition to expanding our user community, we delivered a new milestone for converted orders from our sales pipeline for the first six months of a calendar year at $24.7 million, reflecting 44% growth year-over-year. We also set a new high-water mark for our Annualized Recurring Revenue1 which now stands at $9.0 million."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Tantalus Systems Publishes Inaugural ESG Report

Tantalus Systems Publishes Inaugural ESG Report

Sets goals and commitments to key initiatives across the organization

Tantalus Systems (TSX: GRID) ("Tantalus" or the "Company"), a smart grid technology company focused on helping build sustainable utilities, is pleased to announce the publication of its inaugural Environment, Social and Governance (ESG) Report. The report is published in alignment with the Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-related Financial Disclosures (TCFD), both of which are widely recognized global sustainability reporting frameworks. The inaugural ESG Report covers the period ending December 31, 2021, and highlights the ways in which Tantalus is working to create a sustainable and equitable future internally as well as for its growing user community of utilities.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Tantalus Systems Announces Voting Results for Annual General and Special Meeting

Tantalus Systems Announces Voting Results for Annual General and Special Meeting

Tantalus Systems (TSX: GRID) ("Tantalus" or the "Company"), a smart grid technology company focused on helping build sustainable utilities for the future, today announced the voting results of the Company's annual general and special meeting of shareholders held on June 10, 2022 (the "Meeting").

Election of Directors

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Tantalus Systems Holding Inc. Reports Financial Results for Q1, 2022

Tantalus Systems Holding Inc. Reports Financial Results for Q1, 2022

Tantalus Systems (TSX: GRID) ("Tantalus" or the "Company"), a smart grid technology company focused on helping build sustainable utilities for the future, is pleased to announce its financial and operating results for the first quarter ended March 31, 2022.

"We are pleased with our financial results and operating performance despite navigating through a challenging business environment. Revenue contributions from our software and services business segment continue to improve our financial performance and increased to 36% of our total revenue profile in the quarter. Revenue from our Connected Devices and Infrastructure segment also grew as supply chain challenges began to stabilize throughout the quarter. Additionally, we witnessed our Gross Profit Margin increase to 48% as compared to 45% a year ago," stated Peter Londa, President & CEO of Tantalus. "Beyond our financial results, the feedback we continue to receive regarding our acquisition of Congruitive is extremely favorable, as the combined capabilities deliver a differentiated and secure smart grid platform that empowers utilities to connect devices deployed at the edge of the grid, where people live and work, directly to mission-critical systems that utilities rely upon every day to deliver power. While the current business environment remains fluid, we continue to witness strong momentum as utilities seek to digitize distribution grids to improve their resiliency and prepare for the broad adoption of electric vehicles, solar installations and distributed storage."

Consolidated Financial Highlights1:

  • Revenue for the Company increased by 16% to $9.3 million as compared to the prior year, reflecting the momentum witnessed across Tantalus' target market. Utility Software Applications and Services revenue increased by 28% to $3.4 million and represented 36% of total revenue as compared to 33% for the same period last year. The increase from software and services is tied to the increasing number of connected endpoints that drives software licenses and recurring maintenance and support agreements. Congruitive's software and services contributed approximately $290,000 in the quarter. Connected Devices and Infrastructure revenue increased by 10% as COVID-19 pandemic restrictions subsided allowing utilities to accelerate deployments. A portion of delayed shipments in 2021 also materialized in the quarter.

  • Gross Profit2 Margin increased to 48% as compared to 45% for the same period last year. The Company was able to increase Gross Profit Margin despite inflationary pressures across its supply chain. The increase in Gross Profit Margin tied to the Company's continued focus on expanding revenue contributions from software and services and managing its supply chain effectively. Moving forward, the Company initiated a price increase that went into effect on April 15, 2022, to further offset inflationary cost pressures.

  • Adjusted EBITDA3 was ($0.7 million) compared to $0.1 million in the prior year. The decline in Adjusted EBITDA was primarily due to targeted investments in research and development to accelerate key projects, integrating the team from the acquisition of Congruitive, bolstering sales and marketing activities given the continued momentum in the market, and the Company's continued absorption of costs associated with going public.

  • The loss for the period was ($1.8 million) compared to ($2.9 million) in the prior year, an improvement of 38%. The loss per share in the quarter was $0.04 compared to $0.08 in the prior year.

  • The Balance Sheet remained strong with total assets amounting to $40.0 million, inclusive of $12.0 million in cash, compared to $31.0 million of total assets and $14.2 million in cash as at December 31, 2021. The cash balance remained strong despite investing $3.5 million of cash as part of the consideration in acquiring Congruitive on January 31, 2022.

  • Adjusted Working Capital4 was $9.0 million compared to $13.6 million as at December 31, 2021. The decline in Adjusted Working Capital is primarily due to the cash consideration of $3.5 million and corresponding fees and expenses incurred as a result of the acquisition of Congruitive.

Continued Strong Momentum

  • Tantalus secured 5 new utilities in the quarter through its ongoing sales activity. Coupled with over 40 utilities within Congruitive's user community, the combined business now supports over 250 utility customers, including several of the largest investor-owned utilities ("IOUs") in the United States.

  • The Company continues to anticipate growing revenue year-over-year by 20% to 25%, targeting approximately $38.6 to $40.2 million in 2022. This guidance includes revenue contributions from the recent acquisition of Congruitive.

  • Tantalus is actively leading an effort to support current and prospective utility customers with the submission of applications to access funding across several programs being offered by the US Federal government, including the ARPA and BRIC programs. For more information, please go to the Company's website (https://www.tantalus.com/resources/funding/).

"Due to our team's ongoing commitment to adapt to changes and the continued execution of our plan, we are in the fortunate position to make prioritized investments in our next-generation TRUSense™ Fiber Gateway and our AI-enabled data analytics, both of which further position Tantalus as a market leader," noted Mr. Londa. "The TRUSense Fiber Gateway will allow utilities to backhaul consumption and power quality data across a fiber network, gain direct access to and control of EV chargers and inverters for solar panels and battery walls deployed behind the meter, and deliver broadband services to customers. Coupled with the expanding portfolio of AI-enabled data analytics, this one-of-a-kind offering will propel Tantalus forward as a market leader to truly build sustainable utilities. We remain optimistic as market dynamics remain favorable and believe Tantalus remains well positioned for the future."

The Company will hold a conference call and webcast to discuss the financial results on Wednesday, May 11, 2022 at 11:00 am Eastern Time.

Conference Call
Participant Dial In (Toll Free) 1-844-854-4410
Participant International Dial In 1-412-317-5791
Please ask to join the Tantalus Systems earnings call.

Webcast
https://services.choruscall.com/mediaframe/webcast.html?webcastid=5gmBWvNT

Replay Information
A conference call replay will be available until May 18, 2022. The webcast will be available until May 17, 2023 at the link set out above. To access the conference call replay, please see details below:

US Toll Free: 1-877-344-7529
International Toll: 1-412-317-0088
Canada Toll Free: 1-855-669-9658
Replay Access Code: 1750619

Financial Statements and Management Discussion & Analysis

Please see the consolidated financial statements ("Financial Statements") and related Management's Discussion & Analysis ("MD&A") for more details. The consolidated financial statements for the quarter ended March 31, 2022, and related MD&A have been reviewed and approved by Tantalus' Audit Committee and Board of Directors. For a more detailed explanation and analysis, please refer to the MD&A that has been filed on SEDAR at www.sedar.com and is also available on the Company's website at www.tantalus.com.

Non-IFRS and Other Financial Measures
This press release refers to the following non-IFRS measures:

"EBITDA" is comprised as income (loss) less interest, income tax and depreciation and amortization. Management believes that EBITDA is a useful indicator for investors, and is used by management, in evaluating the operating performance of the Company. See "Reconciliation of Net (Loss) / Income to Adjusted EBITDA" for a quantitative reconciliation of EBITDA to the most directly comparable financial measure. "Adjusted EBITDA" is comprised as income (loss) less interest, income tax, depreciation, amortization, stock-based compensation, foreign exchange gain (loss) and other income / expenses not attributable to the operations of the Company. Management believes that EBITDA is a useful indicator for investors, and is used by management, in evaluating the operating performance of the Company. See "Reconciliation of Net (Loss) / Income to Adjusted EBITDA" for a quantitative reconciliation of Adjusted EBITDA to the most directly comparable financial measure.

"Gross Profit" is comprised as the Company's revenues less cost of sales. Management believes that Gross Profit is a useful indicator for investors, and is used by management, in evaluating the operating performance of the Company. See "Gross Profit Reconciliation" for a quantitative reconciliation of Gross Profit to the most directly comparable financial measure. This press release refers to "Gross Profit Margin" which is a non-IFRS ratio. Gross Profit Margin is comprised of Gross Profit expressed as a percentage of the Company's revenues. Management believes that Gross Profit Margin is a useful indicator for investors, and is used by management, in evaluating the operating performance of the Company.

"Adjusted Working Capital" is comprised as current assets less current liabilities exclusive of the Company's bank loan. Management believes Adjusted Working Capital is a useful indicator for investors, and is used by management, for evaluating the operating liquidity to the Company. See "Adjusted Working Capital Reconciliation" for a quantitative reconciliation of Adjusted Working Capital to the most directly comparable financial measure.

Such non-IFRS measures and non-IFRS ratio do not have a standardized meaning under IFRS and may not be comparable to a similar measure disclosed by other issuers.

Gross Profit Margin Reconciliation

  Three months ended March 31, 2022 Three months ended March 31, 2021
Revenue$9,291,478 $ 8,011,331
Cost of sales 4,870,365 4,409,319
Gross Profit 4,421,113 3,602,012
Gross Profit Margin 48% 45%

 

Reconciliation of Net (Loss) to Adjusted EBITDA

  Three months ended March 31, 2022 Three months ended March 31, 2021
Loss for the period $(1,789,383)$(2,908,432)
Finance expense (a) 236,986 166,329
Income taxes - -
Depreciation and amortization 493,169 434,957
EBITDA (1,059,228) (2,307,146)
Stock-based compensation (b) 203,056 195,769
Foreign exchange (c) (385,050) 14,068
Congruitive acquisition related costs (d) 586,960 -
RiseTech reverse acquisition listing expense (e) - 1,188,175
Reverse acquisition legal, professional and related costs (e)  - 964,484
Adjusted EBITDA $(654,262)$55,350

 

(a)Finance expense comprised of interest and related finance expense on bank loans and lease liabilities. 
(b)Share-based non-cash compensation expense. 
(c)Foreign exchange comprised of unrealized (gain) / loss from non-functional currency assets and liabilities. 
(d)General and administrative expenses pertaining to the Company's acquisition of Congruitive.
(e)Reverse acquisition listing expense comprised of excess purchase price over RiseTech net assets acquired and costs. 

Adjusted Working Capital Reconciliation

  March 31, December 31,
Adjusted Working Capital  2022 2021
Total current assets$25,494,272$26,427,657
Less current liabilities (25,730,784) (20,953,001)
  (236,512) 5,474,656
Add Bank loans - current portion 9,200,000 8,100,000
Adjusted Working Capital $8,963,488$13,574,656

 

About Tantalus Systems Holding Inc. (TSX: GRID)

Tantalus is a smart grid technology company that transforms aging one-way grids into future-proofed multi-directional grids that improve the efficiency, reliability and sustainability of public power and electric cooperative utilities and the communities they serve. Our solutions are purpose-built to allow utilities to restore power quickly after major disruptions, adapt to rapidly shifting consumer expectations and population shifts, innovate new solutions based on the adoption of distributed energy resources and evolve their grid infrastructure at their own pace without needless cost or complexity. All this gives our user community the flexibility they need to get the most value from existing infrastructure investments while planning for future requirements. Learn more at www.tantalus.com.

Forward-Looking Statements:

This news release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words "believes", "may", "plans", "will", "anticipates", "intends", "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions. Forward-looking information in this news release includes statements such as those relating to: continuing extremely favorable feedback regarding our acquisition of Congruitive, strong momentum going forward as utilities seek to digitize distribution grids to improve their resiliency and prepare for the broad adoption of electric vehicles, solar installations and distributed storage, growing revenue year-over-year by 20% to 25% and targeting approximately $38.6 to $40.2 million in 2022, the development of our next-generation TRUSense Fiber Gateway and our AI-enabled data analytics, both of which further position Tantalus as a market leader, and Tantalus being well positioned for the future.

To the extent any forward-looking information in this news release constitutes a "financial outlook" within the meaning of securities laws, such information is being provided because management's estimate of the future financial performance of Tantalus is useful to investors, and readers are cautioned that this information may not be appropriate for any other purpose and that they should not place undue reliance on such information.

In connection with the forward-looking information contained in this news release, Tantalus has made numerous assumptions, regarding, among other things: the expected impact of COVID-19, the expected impact of supply chain constraints, the expected impact of inflationary pressures on costs and the expected timing of new product introductions. While Tantalus considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause Tantalus' actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein.A complete discussion of the risks and uncertainties facing Tantalus is disclosed under the heading "Risk Factors" in the Tantalus' Annual Information Form dated March 23, 2022, as well as those risk factors included with Tantalus' continuous disclosure filings with Canadian securities regulatory authorities available at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and Tantalus disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

Contact Tantalus:
Linda Armstrong
Investor Relations
647-456-9223 | larmstrong@tantalus.com

Website: www.tantalus.com
LinkedIn: LinkedIn/company/tantalus
Twitter: @TantalusCorp

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Kandiyohi Power Cooperative Validates Integration of Tantalus' TUNet Technology with Neptune's R900 System Data

Kandiyohi Power Cooperative Validates Integration of Tantalus' TUNet Technology with Neptune's R900 System Data

Utility generates incremental revenue stream by providing billing data to the neighboring utility operated by the City of Oliva, MN

Tantalus Systems (TSX: GRID) ("Tantalus" or the "Company"), a smart grid technology company focused on helping build sustainable utilities, is pleased to announce that Kandiyohi Power Cooperative has deployed and validated the capability of the Tantalus Utility Network (TUNet®) to capture, integrate and present consumption and flow data from licensed Neptune R900® water endpoints.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Applied UV to Host Second Quarter 2022 Conference Call on August 16, 2022

Applied UV to Host Second Quarter 2022 Conference Call on August 16, 2022

Applied UV, Inc. (NasdaqCM: AUVI ) ("Applied UV" or the "Company"), a pathogen elimination technology company that applies the power of narrow-range ultraviolet light ("UVC") for surface areas and catalytic bioconversion technology for air purification to destroy pathogens safely, thoroughly, and automatically, announced that the Company will be hosting an investor conference call and live webcast on Tuesday, August 16, 2022 at 9:00 am ET to review its financial results. Second quarter 2022 financial results will be released after market close on Monday, August 15 th and will be available through the Investor Relations section of the company's website at https://irdirect.net/AUVI .

Conference Call/Webcast Information

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Avricore Grants Options

Avricore Grants Options

Avricore Health INC. (TSXV: AVCR) (the " Company " or " AVCR ") is pleased to announce that the Company's board of directors has approved the granting of stock options (the "Options") exercisable for a total of 2,725,000 common shares to its directors, officers, and consultants at an exercise price of CAD$0.15 per common share.

All Options were granted pursuant to the Company's stock option plan and are subject to the terms of the applicable grant agreements and the requirements of the TSX Venture Exchange.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Nanalysis Announces Second Quarter 2022 Conference Call

Hosting Call at 5:00 pm ET on Thursday , August 25th

European Q&A Session on August 26 th at 8:30am ET

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
REPEAT -- Alkaline Fuel Cell Power Announces Development of Fuel Cells for Off-Grid and Back-Up Generator Markets

REPEAT -- Alkaline Fuel Cell Power Announces Development of Fuel Cells for Off-Grid and Back-Up Generator Markets

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 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.

  • 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 (647) 531- 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.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Alkaline Fuel Cell Power Announces Development of Fuel Cells for Off-Grid and Back-Up Generator Markets

Alkaline Fuel Cell Power Announces Development of Fuel Cells for Off-Grid and Back-Up Generator Markets

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 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.

  • 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 (647) 531- 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.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Greenlane Renewables Announces Second Quarter 2022 Financial Results

Greenlane Renewables Announces Second Quarter 2022 Financial Results

~Company reports record revenue with consistent gross margins~

 Greenlane Renewables Inc. (" Greenlane '' or the " Company ") (TSX: GRN) (FSE: 52G) (OTC: GRNWF) today announced financial results for the second quarter ended June 30, 2022 . For further information on these results please see the Company's Condensed Consolidated Interim Financial Statements and Management's Discussion and Analysis filed under the Company's profile on SEDAR at www.sedar.com . All amounts are in Canadian dollars unless otherwise stated and in accordance with International Financial Reporting Standards (" IFRS ").

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×