HFI Hydrogen Future Industries PLC

 
TIDMHFI 
 
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. 
 
[image] 
 
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                                    +44 (0) 20 72130 880 
 
Liam Murray 
 
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 (https://www.linkedin.com/company/hydrogen 
-future-industries) 
 
Twitter: @HydrogenFI (https://twitter.com/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. 
 
 
This information was brought to you by Cision http://news.cision.com 
 
 
END 
 
 

(END) Dow Jones Newswires

September 06, 2023 02:00 ET (06:00 GMT)

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