- FuelPositive Corp. is a Canadian-based growth-stage company focused on providing commercially viable and sustainable clean energy solutions
- The company’s primary strategy currently is to commercialize its patent-pending IP for the carbon-free production of ammonia for use across a broad spectrum of industries and applications
- Traditional ammonia is a carbon-intense industry that supplies the 200 million metric tonnes consumed primarily by the agricultural sector each year, but its potential green energy uses include a solution with an energy density by volume that is nearly double that of liquid hydrogen
- Ammonia is more easily transportable than hydrogen and its molecular composition of hydrogen atoms makes it potentially convertible for hydrogen gas or renewable electricity
- The International Energy Agency reported this month that renewable energy sources are growing worldwide but are not keeping pace with rising demand, which means carbon-based fuels will need to cover the gap, in turn leading to expectations of record-level CO2 emissions this year
- André Mech named as Strategic Carbon Credit and Emissions Reduction Specialist
A recent report issued by the International Energy Agency (“IEA”) notes that the use of renewable energy sources is rising worldwide, but not fast enough to meet a strong rebound in global electricity demand this year as national economies begin to recover from the unexpected devastation of the COVID-19 pandemic. That portends a potential sharp rise in the use of polluting coal power for electricity generation (https://ibn.fm/fcdEU
Renewables such as hydropower, wind and solar photovoltaic technology are on track to grow over the next two years by 8 per cent in 2021 and by more than 6 per cent in 2022, but despite the strong growth they will only be able to meet around half the projected increase in global electricity demand, which will leave fossil fuel-based electricity generation to cover 45 per cent of additional demand in 2021 and 40 per cent in 2022, with nuclear power accounting for the rest (https://ibn.fm/OWmT7
Clean energy solutions innovator FuelPositive (TSX.V: NHHH) (OTCQB: NHHHF)
has made its mission the development of manufacturing, licensing, partnership and acquisition opportunities that build on energy-efficient technologies, and in a July 15 webinar CEO Ian Clifford addressed questions about the company’s patent-pending first-of-its-kind carbon-free ammonia (“NH3”) technology that FuelPositive is working to commercialize as a more efficient alternative to existing “sustainability” efforts.
“The environmental imperative for scalable and economically viable replacements for fossil fuel and other highly polluting materials has never been more important, certainly not in my lifetime,” Clifford said in the June investor presentation (https://ibn.fm/ujM7a
), reflecting a rising sense of global urgency for using energy in a sustainable way that doesn’t compromise the needs of future generations for the sake of current conveniences — a concern intensified by increasing reports of climate change worldwide.
Note: A recording of the webinar is available on the company’s website (https://share.hsforms.com/1bO66RLJhSDeg8kbX9nh7bg4h2fj
According to the IEA report, the inability of renewable energy sources to keep pace with current demand portends an increase of 3.5 per cent in 2021 and by 2.5 per cent in 2022 of CO2 emissions from the electricity sector globally, resulting in an all-time high output of those emissions next year.
FuelPositive’s excitement about the potential of ammonia, also known as hydrogen nitride, is in part because the compound comprising one nitrogen atom bonded to three hydrogen atoms has an energy density by volume that is nearly double that of liquid hydrogen — a more commonly pursued green energy fuel — and it is easier to ship and distribute (https://ibn.fm/aBSfZ
Ammonia production is already a multi-billion-dollar industry, primarily to supply agricultural needs, but FuelPositive’s solution would improve production methods at an affordable, modular and commercial scale to eliminate the need for “dirty ammonia.”
“It’s an entirely carbon-intense industry,” Clifford said. “In fact, I just read a really interesting report of one large ammonia refining facility in the Southern states that is interested in converting to green ammonia, but they don’t have any source of green electricity or sustainable electricity so they’re going to have to end up buying carbon credits to offset their energy consumption to produce green ammonia. … Sometimes the producers of the technology aren’t looking at the overall impact of what they’re doing and we believe that’s a very, very important part of the equation and something that we’re focused on heavily as we move forward.”
Clifford said the successful commercialization of the company’s IP involves a strategy to manufacture FuelPositive’s Phase 2 Hydrogen-Ammonia Synthesizer commercial prototype systems through an agreement with National Compressed Air Canada Ltd. to roll out the first demonstration systems early next year (https://ibn.fm/i8n0h
), eventually leading to revenues from end user purchases and licensing.
FuelPositive’s recent announcement that experienced industry adviser André Mech has been named its Strategic Carbon Credit and Emissions Reduction Specialist establishes its leadership for the strategy (https://ibn.fm/5gDkD
“We’re exploring many different ways of going to market, and we will refine that strategy in the coming months,” Clifford said. “It’s really important to us to become a thought leader in this space and to make sure that our message, our values, our solutions are well known at the top of the knowledge chain as it relates to carbon-free ammonia and of course a carbon-free society. … It’s a complex message but I think when it’s simplified down to the core elements, it’s actually a very easy-to-understand solution and we want people around the world to really understand the viability of this and its potential profound effect on positive environmental change.”
For more information, visit the company’s website at www.FuelPositive.com
NOTE TO INVESTORS:
The latest news and updates relating to NHHHF are available in the company’s newsroom at https://ibn.fm/NHHHF
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