Introduction Applied sciences Indicators Strategic Joint Growth Settlement with Siemens Vitality to Expedite the Decarbonization of the Maritime Sector

BOSTON, April 04, 2024–(BUSINESS WIRE)–Introduction Applied sciences Holdings, Inc., an innovation-driven chief within the gasoline cell and hydrogen expertise sectors, is happy to announce that its wholly owned subsidiary, Introduction Applied sciences A/S (“Introduction”), has signed a Joint Growth Settlement (“JDA”) with Siemens Vitality, one of many world’s main vitality expertise firms.

The newly signed JDA outlines the collaboration between Introduction and Siemens Vitality, combining Introduction’s HT-PEM gasoline cell 50kW modules using its progressive Ion-Pair™ membrane electrode meeting (MEA) expertise with Siemens Vitality’s electrification and automation options for hybrid and electrical vessels.

The purpose is to develop an built-in 500kW Excessive-Temperature Proton Alternate Membrane (“HT-PEM”) gasoline cell answer for maritime functions after which consider to scale down/up the system to suit with market necessities from motor and Giga Yachts to ferries and container/business ships.

The progressive clear vitality answer ensuing from this multi-year collaboration is anticipated to initially handle the ability wants of enormous yachts. Subsequently, plans are underway to broaden its utility to incorporate ferries and business/container vessels.

The preliminary prototype testing for the HT-PEM gasoline cell module is anticipated to happen at Siemens Vitality’s testing facility in Erlangen, Germany, in 2025, with the testing of the primary gasoline cell module scheduled for completion in 2026. Introduction is presently partaking with world-leading prospects within the maritime business and anticipates signing business time period sheets within the close to time period to pursue upcoming Requests for Proposals (RFPs).

This settlement builds upon the robust collaboration between Introduction and Siemens Vitality, which started in February 2022 with the Sanlorenzo Life Ocean pilot challenge. On this challenge, the businesses collectively developed a marine HT-PEM gasoline cell answer to supply clear energy for resort capabilities aboard a 50-meter Sanlorenzo superyacht. Moreover, in March 2024, Introduction and Siemens Vitality deepened their collaboration by becoming a member of as consortium companions within the RiverCell 3 analysis and growth challenge, which is partially funded by the German Federal Ministry for Digital and Transport as a part of the Nationwide Innovation Programme Hydrogen and Gas Cell Expertise.

Introduction Applied sciences’ HT-PEM gasoline cells using the progressive Ion Pair™ MEA expertise, supply high-temperature operation between 80°C and 240°C. This development extends their lifespan by at the least threefold and doubles the ability density in comparison with earlier Introduction techniques. Moreover, Introduction’s HT-PEM gasoline cell expertise allows the usage of liquid inexperienced fuels like eMethanol, enhancing effectivity by using each warmth and electrical energy, leading to excessive resilience. These gasoline cells can perform with impure hydrogen, impure air consumption, and in excessive ambient temperature and humidity circumstances, making them a really perfect alternative for widespread adoption within the maritime business.

Because the world advances in the direction of in depth inexperienced hydrogen manufacturing, eMethanol emerges as a number one alternative for marine gasoline within the maritime business, promising a possible 100% discount in CO2 emissions. Methanol and its derivatives perform as versatile vitality carriers and storage options, effectively releasing hydrogen catalytically by means of gasoline reformers. With its environment friendly storage capabilities, ease of dealing with, and utilization of present infrastructure for transportation, methanol stands as a safe and economically viable different to fossil fuels.

Introduction’s Chaiman and CEO, Dr. Vasilis Gregoriou, commented: “The Introduction workforce is thrilled to witness Siemens Vitality’s recognition of the immense potential of HT-PEM gasoline cell expertise in maritime functions. After two years of intensive collaboration, we stand ready for the subsequent stage, with the purpose of positioning HT-PEM gasoline cell expertise as a pivotal aspect in international decarbonization initiatives, working in the direction of attaining net-zero emissions within the maritime sector by 2050. We stay up for sustaining our collaborative momentum, combining our in depth gasoline cell experience with Siemens Vitality’s unparalleled expertise in electrification and automation options, to collectively pave the best way for a extra sustainable future in maritime operations worldwide.”

About Introduction Applied sciences Holdings, Inc

Introduction Applied sciences Holdings, Inc. is a U.S. company that develops, manufactures, and assembles full gasoline cell techniques in addition to supplying prospects with important elements for gasoline cells within the renewable vitality sector. Introduction is headquartered in Boston, Massachusetts, with workplaces in California, Greece, Denmark, Germany, and the Philippines. With greater than 150 patents issued, pending, and/or licensed for gasoline cell expertise, Introduction holds the IP for next-generation HT-PEM that permits numerous fuels to perform at excessive temperatures and below excessive circumstances, appropriate for the automotive, aviation, protection, oil and fuel, marine, and energy technology sectors. For extra info, go to www.creation.vitality.

Cautionary Be aware Concerning Ahead-Trying Statements

This press launch contains forward-looking statements. These forward-looking statements typically will be recognized by means of phrases comparable to “anticipate,” “count on,” “plan,” “may,” “might,” “will,” “consider,” “estimate,” “forecast,” “purpose,” “challenge,” and different phrases of comparable that means. Every forward-looking assertion contained on this press launch is topic to dangers and uncertainties that might trigger precise outcomes to vary materially from these expressed or implied by such assertion. Relevant dangers and uncertainties embody, amongst others, the Firm’s means to keep up the itemizing of the Firm’s widespread inventory on Nasdaq; future monetary efficiency; public securities’ potential liquidity and buying and selling; impression from the result of any recognized and unknown litigation; means to forecast and keep an ample charge of income development and appropriately plan its bills; expectations concerning future expenditures; future mixture of income and impact on gross margins; attraction and retention of certified administrators, officers, workers and key personnel; means to compete successfully in a aggressive business; means to guard and improve Introduction’s company repute and model; expectations regarding its relationships and actions with expertise companions and different third events; impression from future regulatory, judicial and legislative adjustments to the business; means to find and purchase complementary applied sciences or companies and combine these into the Firm’s enterprise; future preparations with, or investments in, different entities or associations; and intense competitors and aggressive stress from different firms worldwide within the industries wherein the Firm will function; and the dangers recognized below the heading “Threat Components” in Introduction’s Annual Report on Type 10-Ok filed with the Securities and Alternate Fee (“SEC”) on March 31, 2023, in addition to the opposite info filed with the SEC. Traders are cautioned to not place appreciable reliance on the forward-looking statements contained on this press launch. You’re inspired to learn Introduction’s filings with the SEC, out there at www.sec.gov, for a dialogue of those and different dangers and uncertainties. The forward-looking statements on this press launch converse solely as of the date of this doc, and the Firm undertakes no obligation to replace or revise any of those statements. Introduction’s enterprise is topic to substantial dangers and uncertainties, together with these referenced above. Traders, potential traders, and others ought to give cautious consideration to those dangers and uncertainties.

View supply model on businesswire.com: https://www.businesswire.com/information/house/20240404386697/en/

Contacts

Introduction Applied sciences Holdings, Inc.
Michael Trontzos
press@creation.vitality

Leave a Comment