Hydrofuel Canada and Ontario Tech University have signed a letter of intent to sponsor research projects and negotiate commercial rights to a specialized portfolio of ammonia-related technologies at the University.
Hydrofuel has raised $500,000 in capital investments to support this initiative. In addition to the investment, Hydrofuel has closed a non-brokered private placement offering for $1.3 million.
“Under the terms of the January 27, 2021 letter of intent outlining an exclusive option to sponsor ammonia related research projects at Ontario Tech University, Hydrofuel’s investment of a minimum $500,000 (with or without matching government funding) will be used to begin negotiations with Ontario Tech University regarding the terms of an exclusive commercial license agreement.”
Greg Vezina, Hydrofuel CEO.
Hydrofuel is committed to raising all the funds needed to commercialize several ammonia technologies along with any additional technologies developed as a result of working with Ontario Tech University.
Under this collaboration, the NH3 technologies that will be developed within one year will include and are not limited to the following:
- Ammonia Power and Heat Engine
- Ammonia as Sustainable Fuel and Hydrogen production
- Ammonia Fuel Cells
- Diesel and gasoline engine conversion systems
- Solar Ammonia Synthesis
Based on the continued success of our collaboration with Ontario Tech University further areas of collaboration may include:
- Electrochemical ammonia synthesis
- Hydrocarbon ammonia synthesis without emitting the carbon or CO2
- Waste Heat Engine and Waste Waters to Ammonia
- Plastics to ammonia
- Direct sequester of CO2 into elemental carbon
Hydrofuel has previously invested $50,000 with matching Mitacs funding for six research projects with Ontario Tech University covering many aspects of the production and use of ammonia fuel and energy.
Currently, a three-part “Sectoral use of ammonia as a clean solution” project is well underway, including the development and experimental testing of an ammonia-fueled power generator, the investigation of the ammonia economy starting from production to last-use in various sectors, and finally, a review of the ammonia economy with a cradle-to-grave pollution and emissions approach.
