Alkaline Fuel Cell Power Corp. ("AFCP" or the "Company"), a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech, is pleased to announce the launch of PWWR Flow Streams (“PWWR Flow”) a brand of its combined heat and power (“CHP”) division, whose assets target the delivery of improved energy efficiency of more than 20% with lower costs to customers whether in multi-residential or commercial applications. PWWR Flow has contracted to deploy its existing CHP assets in Toronto, Canada, and is advancing a robust pipeline of future potential contracts having a value of over $50 million.
”PWWR Flow offers a tremendous value proposition to multi-residential and commercial customers, and our new corporate tag line of ‘PWWR to the People’, encapsulates our unique approach to providing efficient and cost-effective energy sources,” commented Frank Carnevale, Chief Executive Officer. “AFCP is developing energy assets on the back of the spark spread and associated increased power costs to customers, and more importantly, diversifying our revenues while de-risking our platform at the same time.”
On April 22nd, 2022, the Company acquired the CHP assets and project pipeline, which served to expand the AFCP portfolio and diversify its offerings. Today, the CHP Division is known as PWWR Flow, the concept behind which is based on:
• Direct “Power” to customers;
• Utilization of the Company’s NEO exchange ticker symbol, “PWWR”;
• “Flow” representing the ability to leverage Canadian Flow Through CRCE credits for projects; and
• “Streams” for the cash flow streams to be generated by the assets from stable long term power purchase contracts with customers.
PWWR to the People
In addition, the Company is pleased to unveil a complementary new corporate tag line, “PWWR to the People”, which is in keeping with the notion of providing power directly to customers on their sites, and aligned with the Company’s belief that the energy transition to a zero carbon economy must empower the masses to take control of their energy needs - PWWR to the People.
Corporate Update
Finally, the Company announces that, pursuant to a consulting agreement dated May 27, 2022 (the “Consulting Agreement”), it has granted 600,000 stock options to an arm’s length consultant (the “Consultant”) (“Stock Option”). Each Stock Option is exercisable for a period of five (5) years at an exercise price of $0.15 per common share of the Company.
