TORONTO -- Alkaline Fuel Cell Power Corp. (NEO: PWWR) (OTCQB:ALKFF) (Frankfurt: 77R, WKN: A3CTYF) (“AFCP” or the “Company”), a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech, is pleased to announce the launch of a new corporate video series designed to help raise both consumer and investor awareness about the Company’s hydrogen fuel cells, which are expected to be highly cost-competitive relative to existing power alternatives in North America and Europe. Numerous factors underscore the need for hydrogen fuel cells as an alternative for consumers, including energy costs that continue to rise with no end in sight; a lack of consumer advocacy around affordable energy supply; and the fact that hydrogen represents a critical component in meeting carbon neutral commitments. AFCP is actively advancing solutions to these issues, including piloting the delivery of hydrogen through natural gas pipelines for customers and building out near-term revenue opportunities that supplement progress on AFCP’s fuel cell business for tomorrow. “Within the current environment which sees consumers facing dramatic increases in energy costs, AFCP is launching an awareness program that highlights how cost-effective our fuel cells are expected to be compared to the current alternative, driven by expectations that green hydrogen costs could be as low as $1 per kg by 2031,” stated Frank Carnevale, Chief Executive Officer of Alkaline Fuel Cell Power Corp. “To showcase the advantages of AFCP’s fuel cell technology, we’re using short videos as part of our business communications plan to increase the scale of our audience by nearly 9.5x. We are truly delivering ‘Power to the People’ by looking out for consumers and enabling them to manage spending in their daily lives and in the delivery of cost-competitive power.”

Affordable Green Hydrogen Supports Carbon Neutrality

Green hydrogen production technologies are seeing a renewed wave of interest propelling advancements in hydrogen production away from fossil fuel sources. Green hydrogen is produced through electrolysis, a process that splits water into hydrogen and oxygen. As industry continues to develop lower cost and higher capacity electrolyzers, the cost to produce clean hydrogen can achieve $1 per kg by 2031i according to US Department of Energy. Further supporting green hydrogen development are forecasts by organizations such as Global Markets Insight Inc. that indicate the green hydrogen market could reach a valuation of USD 119 billion by 2030.ii

Low-Cost Power from Alkaline Fuel Cell Technology

In March 2022 in the United States, the average cost of natural gas delivered to residential customers was USD ~$0.046 per kWhiii. Almost half of the calculation is for the supplyiv. Assuming that green hydrogen production achieves USD $1 per kg by 2031, the equivalent cost of hydrogen would be USD ~$0.06 per kWh (1kg of hydrogen has an energy equivalency of ~33kWh). While the economics for hydrogen are in-line with the current costs to compress and deliver natural gas to customers, since hydrogen is not a fossil fuel source, it is significantly cleaner. With no carbon emissions, green hydrogen is on pace to be more cost-effective than its natural gas and grid alternatives for back-up and to meet peak power demands. On September 20, 2022, the Company announced a pilot project with an entity developing a hydrogen separator technology, designed to demonstrate the potential of each company’s respective technologies to deliver hydrogen through natural gas pipelines. The Company will continue to advance multiple solutions aimed at delivering hydrogen to customers more quickly and efficiently. Over the coming quarters, AFCP will provide further insights into the expected pricing of its fuel cell units and the levelized operating costs.

Significant Escalation in Electricity Pricing

Today, Toronto Hydro residential rate payers pay up to, and sometimes over, $0.20 per kWh all-in, for a range of power requirements throughout the day. With anticipated electricity price increases, customers could be paying over $0.30 per kWh by 2030. In a report submitted to the City of Toronto’s executive committee, Toronto Hydro has stated it will cost up to $10 billion to build the expanded electricity distribution network needed to get to net zero emissions by 2050. According to the report, meeting that capital investment could result in annual rate increases of eight to nine per cent for Toronto Hydro’s residential customers, from 2025 to 2029. Between 2030 to 2034, rates could increase by five to six per cent a year, on average.v Such challenges are not limited to North America. Electricity rates in Europe are dramatically increasing from their previous highs realized in 2020, as shown in figure 1 below, due to limited availability of natural gas caused by the war in Ukraine and Europe’s goals related to the energy transition. [caption id="attachment_109686" align="aligncenter" width="593"] Fuel Cells Works, Alkaline Fuel Cell Power Corp. Announces Launch of Corporate Video Series to Highlight the Benefits of Hydrogen Fuel Cells in Combatting Rising Energy Costs

Fuel Cells Works, Alkaline Fuel Cell Power Corp. Announces Launch of Corporate Video Series to Highlight the Benefits of Hydrogen Fuel Cells in Combatting Rising Energy Costs

Figure 1- Electricity prices in Europe 2020 from highest to lowest[/caption] The power from AFCP’s fuel cell units is being designed to meet the demand for back-up and peaking power requirements. This source of power would be affordable, renewable and reliable compared to existing options.

Corporate Video Series

See how AFCP is truly bringing ‘Power to the People’ #PWWRtothePeople with the first three videos in its ongoing series:

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

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