Alkaline Fuel Cell Power Corp. enters into LOI with Koben System
Alkaline Fuel Cell Power Corp. (“PWWR” or the “Company”), a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech, is pleased to announce that the Company has entered into a non-binding letter of intent (the “LOI”) with Koben Systems Inc. (“Koben”), a licensed distributor of GENIUS, the only hybrid solid-state energy enterprise breaker panel.
The LOI summarizes the intentions of the Company and Koben to enter into a Joint Venture (“JV”) for the integration of the GENIUS Energy Hub with PWWR’s fuel cell (the “Pilot”).
“The integration of this GENIUS Energy Hub breaker panel would enable PWWR fuel cell systems to automatically shift any/all power resources based on time, price, and availability, thus allowing PWWR fuel cell systems to function as the quarterback for all on-site power sources,” stated Frank Carnevale. “This pilot is about improving the value proposition to customers in delivering Power to the People, and the use of AI would add another win for consumers.”
“This decade kicked off the adoption of clean energy and the need to electrify everything to accelerate emission reduction within our built environment. We are pleased to align with Alkaline Fuel Cell Corp. to advance our vision to bring innovation to the energy and the prop-tech industry,” stated Vic Burconak. “We see this collaboration between Alkaline Fuel Cell Power Corp. and GENIUS Energy Hub as a mission-critical step in making energy consumers aware of their energy use and providing user-specific control with AI.”
PWWR and Koben will seek to integrate GENIUS Energy Hub with Jupiter 1.0 or 4 kW fuel cell generator at a customer’s site to provide power for back-up, peaking and/or Demand Energy Resources (“DER”) circumstances. The scope of work will be defined in the definitive agreement relating to the JV. There are several items required to execute the JV to Identify a mutually agreeable pilot project site and also to integrate the GENIUS Energy Hug with Jupiter 1.0 and/or a 4 kW fuel cell generator at the customer’s site, thus providing proof-of-concept in a business case.
