Technology Update
06/09/2023 07:00
6 September 2023
Hydrogen Future Industries plc
("HFI" or the "Company")
Technology Update
Hydrogen Future Industries plc (AQSE: HFI), a developer of a proprietary
wind-based green hydrogen production system, is pleased to provide the
following update on its testing and development activities, including initial
data which is supportive of wind tunnel results from earlier prototypes.
Wind Turbine
HFI has completed the construction and installation of its latest, upgraded 1
metre diameter wind turbine prototype in Montana, USA, with testing and data
gathering now underway.
The current turbine is the 3rd version of the design since the Company
acquired a suite of relevant patents, as announced on 5 October 2022. The
upgraded wind turbine will be used to measure the energy output over an
extended period before work commences on a larger diameter commercial scale
wind turbine. As announced on 24 May 2023, the data gained from the
performance of the wind turbine will be compared to the wind tunnel results
and used in the design of the larger diameter wind turbines. Initial data from
the limited testing to date is supportive of wind tunnel results from earlier
prototypes. The Board believes that the data is supportive of the system's
capacity to produce low-cost renewable energy and therefore affordable green
hydrogen.
Electrolyser
As announced on 24 May 2023, concept testing of an electrolyser for the
hydrogen production system continues in California where HFI's advisory board
member and quantum-physicist Dr Nicholas Blake is based. The objective of the
testing is to build an Anion Exchange Membrane Water Electrolyser (AEMWE)
without platinum group metal catalysts but with cheaper and more readily
available materials that improves power efficiency and longevity.
Dr Blake has now completed the build of two complete electrolyser test cells.
The series of tests undertaken achieved an exceptional efficiency of up to
97%. Further test results are expected in the coming weeks. To date, HFI has
tested 30 different electrodes, including the current catalysts to demonstrate
the efficiency gains from the Company's design. Following the completion of
the initial test phase, the Company will lodge various patent applications
before proceeding with further development.
Timothy Blake, CEO of HFI Energy Systems, commented:
"We are delighted with the progress of prototype testing in Montana with
limited initial data corroborating wind tunnel results. Historical wind tunnel
data demonstrated a 357% increase in energy generation compared to open rotor
wind turbines of the same diameter. This would put us on course to meet our
goal of producing green hydrogen for under $2 per kilogram.
"The performance improvement of the HFI wind turbine over existing ones is
potentially game changing.
"Alongside the wind turbine test work, Dr Nicholas Blake is making excellent
progress on the concept testing of a critical component of the hydrogen
production system: a novel electrolyser that aims to improve power efficiency
and longevity while achieving a significant cost reduction. The efficiency
recorded from initial testing has been impressive and we look forward to
developing and optimising this exciting IP."
Enquiries:
Hydrogen Future Industries plc
Daniel Maling, Executive Chairman +44 (0)20 3475 6834
Vigo Consulting (Investor Relations)
Ben Simons +44 (0) 20 7390 0230
Peter Jacob
Cairn Financial Advisers LLP (AQSE Corporate Adviser)
Ludovico Lazzaretti Liam Murray +44 (0) 20 72130 880
Peterhouse Capital Limited (Broker)
Duncan Vasey +44 (0) 20 7469 0930
Inside Information
This announcement contains inside information for the purposes of the UK
Market Abuse Regulation and the Directors of the Company accept responsibility
for the contents of this announcement.
About Hydrogen Future Industries
Hydrogen Future Industries was established to invest in projects and companies
focused on the Hydrogen Economy. We are developing a proprietary wind-based
hydrogen production system, incorporating hydrogen compression and storage.
Through this technology, we aim to significantly reduce the cost of hydrogen
production from renewable sources and provide on-demand energy storage in the
form of hydrogen at a fraction of the cost of lithium-ion battery storage.
Click here
(https://hydrogenfutureindustries.com/wp-content/uploads/2022/07/HFI-Flyer-for-Website.pdf)
for more information about Hydrogen Future Industries.
Visit our website: www.hydrogenfutureindustries.com
Follow us on social media:
LinkedIn: @Hydrogen Future Industries
Twitter: @HydrogenFI
Caution Regarding Forward Looking Statements
Certain statements made in this announcement are forward-looking statements.
These forward-looking statements are not historical facts but rather are based
on the Company's current expectations, estimates, and projections about its
industry; its beliefs; and assumptions. Words such as 'anticipates,'
'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar
expressions are intended to identify forward-looking statements. These
statements are not a guarantee of future performance and are subject to known
and unknown risks, uncertainties, and other factors, some of which are beyond
the Company's control, are difficult to predict, and could cause actual
results to differ materially from those expressed or forecasted in the
forward-looking statements. The Company cautions security holders and
prospective security holders not to place undue reliance on these
forward-looking statements, which reflect the view of the Company only as of
the date of this announcement. The forward-looking statements made in this
announcement relate only to events as of the date on which the statements are
made. The Company will not undertake any obligation to release publicly any
revisions or updates to these forward-looking statements to reflect events,
circumstances, or unanticipated events occurring after the date of this
announcement except as required by law or by any appropriate regulatory
authority.
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