The Company has successfully completed the second phase of the Cooperation Agreement and the FOX system will become an approved product for purchase by Deutsche Telekom group companies.
In continuation from the immediate reports published by the Company regarding the Company’s entry into a strategic cooperation framework agreement with Deutsche Telekom AG (“DT”), that sets forth the plan for integrating the Company’s hydrogen fuel cell systems into part of DT’s communications network (the “Cooperation Agreement”), and following the completion of the first phase of the Cooperation Agreement, the Company is honored to announce that the Company has also successfully completed the second phase of the Cooperation Agreement. In this phase the companies carried out a field test of the GenCell FOX™ off-gridpower solution based on the Company’s ammonia-to-poweralkaline fuel cell system (“FOX”).
The FOX was tested in four cycles of rated load from 2KW to 4.5 KW running continuously and performed as required per the Cooperation Agreement. This successful field test of the FOX, which was conducted in Israel to demonstrate system versatility under different test conditions, further validates the value proposition offered by the Company’s zero-emission fuel cell solutions for carbon-neutral powering of DT’s communications off-grid sites, meaning sites that are not connected to an electricity network.
In accordance with the Cooperation Agreement, t the FOX will become an approved product for purchase by any of the DT Group companies around the world.
In the Company’s view, the completion of the first and second phases of the Cooperation Agreement, constitutes a seal of approval for the technology and products developed by the Company, and especially for the FOX product, and increases the potential for global sales of the Company’s products to the DT group. Furthermore, the Company estimates that this success alongside the completion of the field test with Vodafone Telekom2, should position the Company as a provider of hydrogen-to-powerand ammonia-to-powersolutions to the telecom market and enable expansion of the Company’s business activities in the telecom market, all in accordance with the Company’s goals and strategy as detailed in the annual report.
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