REPEAT -- Alkaline Fuel Cell Power Highlights First Half 2022 Milestones and Provides Second Half 2022 Outlook
TORONTO, June 20, 2022 (GLOBE NEWSWIRE) -- 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 highlight our first half 2022 milestones and provide our outlook for the second half of the year and beyond.
“In addition to ongoing success in the development of our alkaline fuel cell technology, AFCP is prudently diversifying into assets offering more immediate revenue potential to support its eventual transition to sales of alkaline fuel cells,” commented Frank Carnevale, Chief Executive Officer. “I’m pleased to announce that AFCP is advancing its acquisitions, investments and scaling of our energy asset business activities over the second half of 2022.”
Highlights for the First Half of 2022
Through the first six months of 2022, the Company successfully announced and achieved the following milestones:
Diversification and Strength in Focus for Second Half of 2022 and Beyond
For the balance of 2022 and over the longer-term, AFCP has identified numerous targets and goals we are striving to realize across multiple lines of our business. In addition to enhancing our stable revenue stream, we are focused on 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. Outlined below are a few of our objectives:
Ongoing Growth of PWWR Flow Streams
Continue to Progress Commercialization of Fuel Cell Power NV
Studies indicate that North America’s CHP industry is projected to reach over US$800 million, propelled by favorable regulatory policies toward net energy metering, combined with rising demand for captive power generation and growing consumer inclination toward sustainable energy. Increasing concerns about GHG emissions coupled with improved efficiency, reliability and safety across cogeneration units are expected to further propel product adoption1. Globally, the CHP market is expected to grow from an estimated US$26.6 billion in 2021 to US$35.2 billion by 2026, at a CAGR of 5.8%.2 The combination of these macro factors represents a supportive environment for AFCP to continue deploying our PWWR Flow systems to customers across North America, which provides a stable revenue stream while we continue to develop our advanced hydrogen fuel cell technology and bring ‘PWWR to the People’.
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.
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