Alkaline Fuel Cell Power Corp. Announces Collaboration with Prague University of Chemistry and Technology to Further Support Advancement of Next Generation Fuel Cell System

  • The University of Chemistry and Technology in Prague is a natural center of high-quality education and research in the fields of technical chemistry, chemical and biochemical technologies, materials and chemical engineering.

  • Collaboration with University of Prague provides access to state-of-the-art instrumentation and third-party engineering expertise needed by AFCP to confirm electrode operation without the use of precious metals

  • AFCP positioned to support Europe’s net zero carbon emissions target by 2050 with a hydrogen-powered fuel cell system slated for release in 2024

VANCOUVER, British Columbia, November 30, 2021 (GLOBE NEWSWIRE) – Power Corp. Alkaline Fuel Cell (NEO: PWWR) (Frankfurt: 77R, WKN: A3CTYF) (“AFCP“or the”Society“), an organization that markets next-generation alkaline fuel cell heating and power systems for residential, industrial and commercial markets around the world, today announces that it has entered into a formal collaboration agreement with Prague University of Chemistry and Technology (“UCT Prague“), one of the five Czech universities that ranks in the top 4% of the best universities in the world (2017)1. This strategic collaboration is an important step on AFCP’s path towards the future commercialization and distribution of its innovative Generation 3.0 (Gen 3.0) fuel cell system that will operate without generating GHG emissions.

Strategic collaboration UCT Prague

AFCP has entered into a formal collaboration agreement with UCT Prague whereby AFCP is able to use the state-of-the-art facilities of the university as part of the company’s ongoing efforts to verify the functionality of electrodes made from non-precious materials in its Gen 3.0 systems. As one of the country’s largest educational and research institutions in the field of chemical technologies, the laboratories of UCT Prague are equipped with high-level spectral analysis capabilities as well as other specialized equipment. which AFCP could not access without such a relationship.

“Securing this collaboration with UCT Prague is a crucial step on the road to commercialization of our next generation alkaline fuel cell system. It provides AFCP with access to unprecedented equipment, laboratory capabilities and technological expertise that would be prohibitively expensive for us as a stand-alone entity, ”said Jef Spaepen, CEO of AFCP. “The goal of this collaboration is to reduce manufacturing costs in order to reach a large market. The University will provide us with the necessary equipment and expertise to achieve critical success in this endeavor. “

Fuel cells offer a proven solution for generating both heat and electricity, but traditionally require expensive precious metals such as platinum to form the key components of the electrode, which becomes prohibitively expensive for production. massive. AFCP’s Generation 3.0 technology is designed to overcome this limitation and support wide adoption by residential and commercial customers around the world. Simply put, a fuel cell is made up of two electrodes – a negative electrode (also called an anode) and a positive electrode (also called a cathode) – both of which contain an electrolyte. When a fuel such as hydrogen feeds the anode and air feeds the cathode, a reaction occurs and the electrons pass through an external circuit that creates a flow of electricity. Protons migrate through the electrolyte to the cathode, where they combine with oxygen and electrons, producing clean water and heat.

Publication of Hydrogen Europe’s Clean Hydrogen Monitor 2021 report

Hydrogen Europe is an industry organization that brings together various players, including large companies and small and medium-sized enterprises, all of which support the supply of hydrogen and fuel cell technologies. It supports the adoption of very ambitious climate targets for 2030 and the goal of full carbon neutrality by 2050. With the annual publication of Hydrogen Europe’s Clean Hydrogen Monitor, this year’s updated report represents a baseline benchmark for investment and policy decisions. For Europe to achieve its future goals of large-scale hydrogen production and the implementation of hydrogen technologies as a sustainable GHG solution, it is essential that clean hydrogen becomes competitive with fuels. conventional. AFCP is positioning itself to help the EU meet its ambitious climate targets as the company’s Gen 3.0 alkaline hydrogen fuel cell technology is targeted for commercialization in 2024. There are few other alternative prospects to this advanced stage of development that can deliver as effectively at this scale to displace a significant portion of GHGs.

“The past year has seen an ever-increasing momentum for the hydrogen industry in Europe. Seen as an innovative niche technology, hydrogen has become a key pillar of European Union (EU) energy and climate policy and is recognized as a key catalyst in the EU’s efforts to shift to a climate-friendly society. neutral by 2050 ”, commented Jon André Løkke, President of Hydrogen Europe in the 2021 report of the Clean Hydrogen Monitor. “We cannot achieve climate neutrality without hydrogen. As an energy carrier, hydrogen can unleash the full potential of renewable energies, providing a way to flexibly transfer energy between sectors, time and space. In addition, with hydrogen, we can store excess electricity produced from renewable energies, thus ensuring grid balancing or seasonal storage while making the global energy system of the future more efficient.

About Alkaline Fuel Cell Power Corp.

The Company is focused on the development and production of micro-combined heat and power (“micro-cogeneration”) systems based on alkaline fuel cell technology. A fuel cell is a clean electrical energy conversion / generation system, similar to small power plants that provide electricity and an equivalent amount of heat for a variety of purposes. Based on alkaline hydrogen fuel cell technology, our technology provides an energy source that generates zero CO2 with pure water as the only by-product, making it ideal for residential and small to mid-size electricity markets. We believe that Fuel Cell Power is well positioned to become a positive contributor to the global demand for clean energy, particularly in Europe where demand exceeds supply and current technology remains inadequate to meet market needs. Further information is available on our website at https://www.fuelcellpower.com/ and on our SEDAR profile at www.sedar.com. We encourage investors and other interested stakeholders to follow us on LinkedIn, Twitter, Facebook and Instagram. Our common shares are listed on the NEO Exchange (“NEO”) under the symbol “PWWR” and on the Frankfurt Stock Exchange under the symbols 77R and WKN A3CTYF.

For more information, please contact:

Gerard Sauer

Cindy gray

Eugene Beukman

Chairman of the Advisory Board

Investor Relations

Director

+3214574648

+1 (403) 705-5076

+1 (604) 687-2038

[email protected]

[email protected]

[email protected]

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