A non-binding letter of intent was signed by Alkaline Fuel Cell Power (PWWR) and AmmPower, a business researching technology to turn green ammonia into green hydrogen.
The letter of intent (LOI) outlines the intentions of the company and AmmPower engaging into a joint venture for the creation of a pilot project evaluating AmmPower’s ammonia cracking technology and PWWR’s off-grid fuel cell generator.
AmmPower is working to create technologies that will allow for the “cracking” of ammonia to produce green hydrogen. With the help of this ground-breaking technology, hydrogen can be safely transported and stored all over the world as ammonia, and then, once it gets there, it can be changed back into hydrogen for a usage that is cleaner and more effective. PWWR is creating affordable hydrogen fuel cell systems that can produce power from hydrogen with no CO2 emissions for international markets.
The Pilot is intended to show how green ammonia can be converted into hydrogen using the ammonia cracking technology of AmmPower and subsequently into clean energy using the 4kW fuel cell generator system of PWWR. The electricity produced by the ammonia-to-power unit will be produced without any emissions of carbon.
In the upcoming months, PWWR and AmmPower will collaborate to find suitable locations and collaborators for the JV’s execution. In order to show the combined technology’s capacity to provide inexpensive, renewable, and dependable power in support of their operations and requirements, PWWR has already selected and started conversations with a number of targets.
After satisfactory completion of due diligence, the parties’ commitments will be subject to customary circumstances, such as the proposed transaction being approved by the boards of directors of both parties and the parties signing a formal agreement.
