IAMM™ Unit Set to Be Major Disruptor in Green Agricultural Space
TORONTO, ON / ACCESSWIRE / May 18, 2022 / (CSE:AMMP)(OTCQB:AMMPF)(FSE:601A) / AmmPower Corp. (the 'Company' or 'AmmPower') is pleased to announce that its in-house designed, 50 kilogram per day IAMMTM (Independent Ammonia Making MachineTM) demonstration unit is now operational. AmmPower produced its first ammonia using this demonstration unit on May 16, 2022.
'The demonstrated success of our IAMMTM technology is a TRL 6 event, serving as a major milestone for AmmPower. It validates our technology and our approach to IAMMTM modularization. We are proud of what our team has accomplished in just six months,' states Dr. Gary Benninger, CEO of AmmPower.
Pictured here is the AmmPower America Engineering Team and R&D Team, with several Company Executives, standing in front of the now operational IAMMTM Demo Unit.
The technology used in this demonstration unit will be scaled up for use in AmmPower's 4 metric ton per day IAMMTM unit, which is also being designed in-house. The target market for the full-scale units will be the independent distributors and retailers of anhydrous ammonia used for fertilizer. The Company is targeting Q1 of 2023 for first deliveries.
The production team, led by General Manager Greg Barranger and Chief Technologist Dr. Zhenyu Zhang, have begun patent submissions around the IAMMTM process of green ammonia production. The team designed the novel ammonia synthesis reactor and performed months of catalyst research to develop the techniques used to create scalable, safe, and economically viable green ammonia solutions, applicable for farming, fuel, and the cracking of hydrogen for a variety of purposes.
Rene Bharti, AmmPower President, commented, 'the interest in our IAMMTM units has been strong. The concept of economical, distributed production is a major disruptor in the way ammonia is produced and transported for agricultural use. This would put AmmPower in position to be at the forefront of green ammonia production for the agricultural arena.'
AmmPower's head of Agriculture, Eric Kelley, states, 'the IAMMTM unit is something that has been missing in the agricultural world. Allowing for ammonia production, on location, providing fertilizer for dealers and growers, is something that has rarely been seen before in modern farming history. The fact that the IAMM™ unit also comes with carbon credits and allows farmers to take a renewable and green approach to their livelihood is the future of farming.'
On Behalf of the Board of Directors
Gary Benninger, Ph.D.
Chief Executive Officer
AmmPower is a clean energy company focused on the production of green ammonia. The Company is based in Toronto, Ontario, with a research and manufacturing facility in Southeast Michigan. The company is active in all facets of green ammonia production, including the production of green fertilizers, carbon free shipping fuel, and the ‘cracking', or moving of green hydrogen as ammonia. The company is working on the development of proprietary technologies to produce green ammonia and green hydrogen at scale, including the investigation of unique catalytic reactions to bring down costs and to take advantage of carbon credits in the renewable energy space. AmmPower currently holds several LOIs with ports in Brazil, the United States, and is currently completing its IAMM™ prototype to create green ammonia for the agricultural industry. The company also holds a lithium exploration property in the James Bay/Eeyou Istche region of Quebec and an option on the Titan Property located in Klotz Lake area in Northwestern Ontario.
This news release includes forward-looking statements that are subject to risks and uncertainties, including with respect to the Company's ability to scale up its demonstration IAMM™ unit, the Company's ability to further develop IAMM™ units, the Company's ability to produce, market and sell the Independent Ammonia Making Machines™, the approval of the Company's patent submissions around the IAMMTM process of green ammonia production, the development of the target market for IAMMTM units and the Company's ability to position itself as a disruptor in the agricultural industry. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under the Company's SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.
SOURCE: AmmPower Corp.
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