Alkaline Fuel Cell Power Announces 2023 Priorities

TORONTO, Ontario – Alkaline Fuel Cell Power Corp. (NEO: PWWR) (OTCQB:ALKFF) (Frankfurt: 77R, WKN: A3CTYF) (“PWWR” or the “Company”), a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech, announces 2023 Priorities.

“With the recent launch of Jupiter 1.0 fuel cell prototype, PWWR has the opportunity to greatly reduce our burn and match fuel cell business spend to strategic pilot projects. Coupled with investments in CHP business line- PWWR Flow Streams- PWWR is focused on creating an EBITDA-positive platform within next 4-6 quarters,” stated Frank Carnevale, CEO. “Timing will be based on speed and size of accretive acquisitions and deployment of capital for PWWR Flow projects. We believe that there is greater shareholder value in building out a de-risked alternate asset class platform with a leading-edge proven fuel cell technology to create the future-friendly value for shareholders.”

2023 Priorities

Speed up path to greater revenue and earnings

–         Reduce Fuel Cell cash burn and match to strategic projects

–         Use Fuel Cell Pilots to generate nearer term sales opportunities

–         Source funding pathway to reducing cost of growth capital

Read the most up to date Fuel Cell and Hydrogen Industry news at FuelCellsWorks

ABOUT ALKALINE FUEL CELL POWER CORP. (NEO: PWWR)

PWWR 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.

PWWR operates through two global entities: Fuel Cell Power NV, a wholly owned subsidiary in Belgium, and PWWR Flow Streams (“PWWR Flow”), an PWWR brand in Canada.

• Fuel Cell Power NV is focused on the development, production and commercialization of micro- combined heat and power (“micro-CHP”) systems and off-grid and back-up power generators based on advanced alkaline fuel cell technology that generates zero CO2 emissions. Fuel Cell Power NV is working through milestones to deliver a commercialized alkaline fuel cell in 2024. 
• PWWR Flow is focused on the development, ownership and operations of combined heat and power (“CHP”) assets. PWWR Flow assets deliver efficiency improvements of over 20% with reduced costs to customers in multi-residential and commercial applications. PWWR Flow has contracted existing CHP assets in Toronto, Canada, and has an additional pipeline of potential contracts valued at over $50 million currently in development. 

PWWR 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 under the symbol “PWWR”, the OTC Venture Exchange “OTCQB” under the symbol “ALKFF” and on the Frankfurt Exchange under symbol “77R” and “WKN A3CTYF”.