A number of international patents have been secured by Hydrogen Future Industries in connection with the creation of systems for producing hydrogen from wind energy.
Timothy Blake, who joined the firm earlier this year as chief executive of product development unit HFI Energy Systems, designed wind turbines for the patents.
The patent portfolio “significantly enhances IP around HFI’s wind-based hydrogen production system,” according to executive director David Ormerod. It covers topics such as ducted wind turbine rotor configurations, a dynamic telescopic tower to optimize wind farm energy production, a variable hydraulic drive and electro-magnetic clutch to increase efficiency and lower the cost of energy production, and the conversion of stored energy to green hydrogen.
The Aquis-listed company claimed that they could also be able to provide early cash flow generation due to their potential larger commercial uses outside of HFI’s equipment in the wind energy production industry.
By issuing 5.2 million new ordinary shares to HW Power Ltd, where Blake worked and owned stock, as well as by forgiving a US$0.15 million loan made to the company in December to obtain exclusivity rights for the acquisition, £33,000 in cash, and warrants over an additional 2.5 million new ordinary shares in the company with an exercise price of 12p per share and an expiration date of three years from issue, Hydrogen Future acquired HW Power Ltd.
In this quarter, according to Ormerod, the business hopes to begin testing a 1-meter prototype unit in Montana, USA. The testing is expected to extend for many months until the first units of a commercial size are built and tested.
The commercial uses for our patents may not be confined to hydrogen and might be of benefit in the entire wind energy generating industry, he added, given the significant efficiency increases we expect our turbine will bring compared to current open rotor wind turbines in use today.
We will undoubtedly look at broader commercial uses for the patents outside of HFI’s systems, maybe as a way to generate early revenue flow.
