Applied UV, Inc. (NasdaqCM: AUVI ) ("Applied UV" or the "Company"), a pathogen elimination technology company that applies the power of narrow-range ultraviolet light ("UVC") for surface areas and catalytic bioconversion technology for air purification to destroy pathogens safely, thoroughly, and automatically, announced that the Company will be hosting an investor conference call and live webcast on Tuesday, August 16, 2022 at 9:00 am ET to review its financial results. Second quarter 2022 financial results will be released after market close on Monday, August 15 th and will be available through the Investor Relations section of the company's website at https://irdirect.net/AUVI .
Applied UV's management team will host an investor conference call and live webcast on August 16, 2022, at 9:00 am ET. Investors can access the live webcast via a link on Applied UV's web site or at https://www.webcaster4.com/Webcast/Page/2626/46351 . For those planning to participate on the call, please dial +1-888-506-0062 (for domestic calls), or +1-973-528-0011 (for international calls), passcode 660050. A replay of the conference call will be available online on the Applied UV web site, and a dial-in replay will be available for one week following the call at +1-877-481-4010 (for domestic calls) or +1-919-882-2331 (for international calls), replay passcode 46351.
Applied UV is focused on the development and acquisition of technology that address infection control in the healthcare, hospitality, commercial and municipal markets. The Company has two wholly owned subsidiaries - SteriLumen, Inc. ("SteriLumen") and Munn Works, LLC ("Munn Works"). SteriLumen's connected platform for Data Driven Disinfection™ applies the power of ultraviolet light (UVC) to destroy pathogens safely, thoroughly, and automatically, addressing the challenge of healthcare-acquired infections ("HAIs"). Targeted for use in facilities that have high customer turnover such as hospitals, hotels, commercial facilities, and other public spaces, the Company's Lumicide™ platform uses UVC LEDs in several patented designs for infection control in and around high-traffic areas, including sinks and restrooms, killing bacteria, viruses, and other pathogens residing on hard surfaces within devices' proximity. The Company's patented in-drain disinfection device, Lumicide Drain, is the only product on the market that addresses this critical pathogen intensive location. SteriLumen's Airocide® air purification devices are research backed, clinically proven, and developed for NASA with assistance from the University of Wisconsin. Airocide® is listed as an FDA Class II Medical device, utilizes a proprietary photocatalytic (PCO) bioconversion technology that draws air into a reaction chamber that converts damaging molds, microorganisms, dangerous airborne pathogens, destructive VOCs, allergens, odors and biological gasses into harmless water vapor and green carbon dioxide without producing ozone or other harmful byproducts. Airocide® applications include healthcare, hospitality, grocery chains, wine making facilities, commercial real estate, schools, dental offices, post-harvest, grocery, cannabis facilities and homes. For more information about Applied UV, Inc., and its subsidiaries, please visit the following website: https://www.applieduvinc.com/ .
The information contained herein may contain "forward‐looking statements." Forward-looking statements reflect the current view about future events. When used in this press release, the words "anticipate," "believe," "estimate," "expect," "future," "intend," "plan," or the negative of these terms and similar expressions, as they relate to us or our management, identify forward-looking statements. Such statements include, but are not limited to, statements contained in this press release relating to the view of management of Applied UV concerning its business strategy, future operating results and liquidity and capital resources outlook. Forward-looking statements are based on the Company's current expectations and assumptions regarding its business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. The Company's actual results may differ materially from those contemplated by the forward-looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward-looking statements. Factors or events that could cause the Company's actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company cannot guarantee future results, levels of activity, performance, or achievements. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.
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Applied UV Inc. John F. Andrews CEO/Director john.andrews@applieduvinc.com
Brett Maas, Managing Principal Hayden IR brett@haydenir.com (646) 536-7331
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Back in 2001, the National Human Activity Pattern Survey by the United States Environmental Protection Agency already stated that Americans spend around 90 percent of their time indoors. Author and Stanford University Professor Wayne Ott studied this data from 12 western countries and concluded, “The finding that emerges is that we are basically an indoor species.”
Fast forward to 2020 and the world is hit by a pandemic caused by a highly transmissible, airborne virus that reinforces the need for safe and effective sanitizing solutions to protect facilities, employees and consumers.
Indoor air quality has become an even more important issue as world economies start the recovery process. In 2021, 39 scientists reiterated the need for a "paradigm shift" and called for improvements in, "how we view and address the transmission of respiratory infections to protect against unnecessary suffering and economic losses."
In addition to this, the global air purifier market size is set to grow exponentially. It was valued at USD 9.24 billion back in 2021 and is predicted to hit around USD 22.84 billion by 2030. According to Precedence Research, the immense demand for air purification and sterilization in the US will be driven by the commercial sector.
Applied UV (NASDAQ:AUVI, AUVIP) is poised to benefit from both increased awareness and commercial demand. The company is focused on innovating new products to combat infections with products covering both airborne particles and surface sterilization and designed for a variety of industries, including healthcare, hospitality and other commercial applications.
The union of these companies has helped ensure the success of both ventures. “By joining forces, we can distribute a combined catalog of SteriLumen and Airocide® products through the Applied UV supply chain and accelerate deal flow in the hospitality, hotel, cruise ship, health care, nursing home, grocery, wine, commercial building and retail sectors,” said Applied UV Interim CEO & Director Max Munn in an interview with INN.
SteriLumen’s products do not create byproducts as HEPA filtration systems do and are independently tested to ensure they are continually effective against COVID-19 variants and other harmful pathogens. SteriLumen’s line of products attack harmful in the air, and pathogens on surfaces, plus the SteriLumen app for asset management that provides data-driven disinfection insights.
A strong management team leads Applied UV with experience in R&D, corporate finance, and various healthcare sectors, providing a stable foundation for the company to scale and grow. Interim CEO and Director Max Munn, Mike Riccio Chief Financial Officer, Interim Chief Operating Officer John Hayman III and Chairman Joel Kanter are respected in their specialties and have already demonstrated their expertise by building Applied UV to where it is today.
Airocide® was originally developed for NASA by the University of Wisconsin, and was named a 2014 Gold Edison Award Winner. Has been featured on a number of media such as Fox News, CNN, Maxim and others. Airborne pathogens are a major problem and these two products attack them head-on.
ScientificAir is a larger unit for use in commercial spaces, like venues, airports and nursing homes. Meanwhile, Airocide® is designed for smaller rooms where aesthetics matter. Both products produce no harmful byproducts and are designed to produce safe, clean air.
Lumicide™ has two products that use similar UV technology to attack harmful pathogens on surfaces. The Lumicide™ Ribbon is a long UV light designed to sterilize surfaces and is the only known UVC solution ETL certified for safe operation while people are present in the room. The Lumicide™ Drain complements the Lumicide™ Ribbon and disinfects sinks and drains. Independent scientific not-for-profit testing laboratory CUBRC, Inc., confirmed that the SteriLumen Lumicide™ Ribbon kills SARS-CoV-2 (COVID-19 Virus).
Every modern system should have a dashboard for easy monitoring and asset management, so Applied UV created SteriLumen App to manage all Applied UV devices, including providing smart management and essential reporting solutions.
John F. Andrews has over 30 years of senior leadership experience in telecom and technology companies, both public and private. He has been CEO of several public companies as well as started and founded companies from ground zero. His experience includes leading three (3) companies to strategic exits (two (2) private and one (1) public), raising over one hundred (100) million dollars of public and private capital, managing numerous mergers and acquisitions, leading companies through explosive growth as well as rightsizing, and being recruited to turn around stalled companies. He recently was the CEO and Co-founder of Trinity IT Services LLC and CEO of TrekSecure LLC. A seasoned executive, his experience also includes being Chairman and EVP of ShipXpress which GE acquired, being CEO of Giga (NASDAQ GIGA) where he led the company's sale to Forrester Research (NASDAQ FORR) and being the CEO of e-Medsoft which went public. His fortune 300 corporate experience includes being CIO and SVP of CSX Transportation at CSX (NASDAQ CSX) corporation managing thousands of employees. During his tenure at CSX, he was credited in achieving over five hundred (500) million dollars in operating expense reductions through his visionary and portfolio technology projects. As CIO he received several industry awards to include CIO of the year from Information Week and top industry visionary from Computerworld. While at CSX, Andrews also consulted with Sun Microsystems (NASDAQ SUNW) on the development of JAVA. Prior to CSX Andrews held executive positions with telecom giant GTE, to include division CIO, President Government Information Systems and President Healthcare Information Systems. Andrews has an MBA from the University of Puget-Sound, Seattle WA, and a BA, Business Administration and Finance from Whitworth University, Spokane WA.
Max Munn has held this position at Munn Works for over 20 years. Munn is also Co-chairman of Dieu Donne Inc., a not-for-profit and a leading, world-recognized atelier wherein dimensional, handmade paper is utilized in the making of art. Munn attended MIT from 1961-to 1966, majored in chemistry and architecture; and received a Bachelor of Architecture degree. Munn also attended Columbia University for post-graduate studies from 1966-1968, working toward a Ph.D. in architectural history.
Mr. Riccio is a highly accomplished CFO who brings an extensive array of financial experience to Applied UV, including a background with global public companies in corporate finance, operations management systems, and corporate M&A planning and integration. Riccio joins Applied UV to oversee the company's finance team reporting directly to the Chief Executive Officer.
John Hayman served as Kes Science’s President and CEO for 18 years leading the company’s growth, R&D and new product development. Before Kes, Hayman was an accountant where he earned his COA Certification and ended his tenure as a Certified Public Account with KMPG.
Joel Kanter has served as President of Windy City, Inc., a privately-held investment firm, since July 1986. From 1989 to November 1999, Kanter served as the President, and subsequently as the President and Chief Executive Officer of Walnut Financial Services, Inc., a publicly-traded company (NASDAQ:WNUT).
Monica Woo is a seasoned Fortune 100 Executive and Board member with many years of accomplished experience and is known for her strategic insights and contributions serving in C-suite level positions on numerous Companies; her ability to position new and existing companies for long-term success and her extensive national and international network of senior-level contacts in business, government, and nonprofits will be extremely valuable to Applied UV's growth. Monica Woo's distinguished career brings Applied UV a strong track record in delivering profitable growth for multi-national globally recognized B2B and B2C eCommerce, food & beverage, investment banking and technology companies, including: the former President of 1-800-Flowers.Com, Inc., flagship Consumer Floral Division, the former Chief Revenue & Strategy Officer of FreshDirect (Ahold Delhaize), the former President of Bacardi Global Brands, the former Chief Marketing Officer of Diageo PLC Europe, former Executive Vice President of Nutrisystem's, the former Chief Marketing and Strategy Officer, Deutsch Bank's Online-LATAM, Sao Paulo, Brazil/NY, NY and the former Chief Marketing Officer Citibank Online & Citibank Private Bank. Monica Woo holds an MBA from the Wharton School of Business, University of Pennsylvania.
Alkaline Fuel Cell Power Corp. (NEO: PWWR) (OTCQB:ALKFF) (Frankfurt: 77R, WKN: A3CTYF) ("AFCP" or the "Company") a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech, is pleased to announce today that the Company has filed its financial and operating results for the three and six month periods ended June 30, 2022. Select financial and operational information is outlined below and should be read in concert with AFCP's consolidated financial statements and management's discussion and analysis ("MD&A") for the second quarter and first half 2022, available on SEDAR at www.sedar.com and on AFCP's website at www.fuelcellpower.com .
"AFCP is diversifying its investments into more immediate revenue generating investments such as its CHP assets, and improving its ability to bring its fuel cells to market, quicker," commented Frank Carnevale, Chief Executive Officer. "Investors want a more de-risked investment platform, and we're on our way to delivering."
AFCP realized significant progress and advancements during the second quarter of 2022, including the following highlights:
As reported on June 20, 2022, the Company provided an outlook for the for balance of 2022 and over the longer-term. The Company will continue to update on the success over the coming months. Outlined below are a few of the objectives:
Ongoing Growth of PWWR Flow Streams
Continue to Progress Commercialization of Fuel Cell Power NV
ABOUT Alkaline Fuel Cell Power CORP. (NEO: PWWR)
AFCP is a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech. We bring ‘Power to the People' today, combining a stable revenue stream with a future-forward vision to commercialize our advanced hydrogen fuel cell technology to meet the massive global market need, and ultimately generate compelling returns for investors.
AFCP operates through two global entities: Fuel Cell Power NV, a wholly owned subsidiary in Belgium, and PWWR Flow Streams ("PWWR Flow"), an AFCP brand in Canada.
AFCP is well positioned to deliver ‘Power to the People' in the global energy transition while offering a diversified cleantech growth platform for investors.
Further information is available on the Company website at https://www.fuelcellpower.com/ , and the Company encourages investors and other interested stakeholders to follow it on:
LinkedIn, Twitter, Facebook, Instagram and YouTube. Common shares are listed for trading on the NEO Exchange ("NEO") under the symbol " PWWR ", the OTC Venture Exchange "OTCQB" under the symbol " ALKFF " and on the Frankfurt Exchange under symbol " 77R " and " WKN A3CTYF ".
For further information, please contact:
Frank Carnevale Chief Executive Officer +1 (647) 531-8264 fcarnevale@fuelcellpower.com
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "achieve". Forward-looking statements may include, but are not limited to, statements with respect to the Company's technology, intellectual property, business plan, objectives and strategy.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward- looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
NEITHER THE NEO EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE NEO EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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Avricore Health INC. (TSXV: AVCR) (the " Company " or " AVCR ") is pleased to announce that the Company's board of directors has approved the granting of stock options (the "Options") exercisable for a total of 2,725,000 common shares to its directors, officers, and consultants at an exercise price of CAD$0.15 per common share.
All Options were granted pursuant to the Company's stock option plan and are subject to the terms of the applicable grant agreements and the requirements of the TSX Venture Exchange.
The options are subject to a 1-year vesting period, with ¼ of the options vesting 3 months after the date of the grant and the remaining options vesting on a quarterly basis thereafter. The options expire 5 years from the date of the grant, subject to the optionees continuing to act as directors, officers or consultants of the Company.
HealthTab is a turnkey point-of-care testing solution that combines best-in-class point-of-care technologies with a secure, cloud-based platform for tackling pressing global health issues.
With just a few drops of blood from a finger prick, the system generates lab-accurate results on the spot and data is reported in real time. The test menu includes up to 23 key biomarkers for screening and managing chronic diseases, such as diabetes and heart disease (e.g., HbA1c, Lipid Profile, eGFR). HealthTab has also recently added capabilities for bacterial and viral tests, such as strep and COVID-19.
The HealthTab network model is unlike anything in pharmacy today. It gives knowledgeable and trusted pharmacists a greater role in primary care delivery, while empowering patients to take more control of their health. It also reduces costs and waiting times and provides many potential revenue streams including equipment leasing & consumables, direct access testing, disease prevention & management programs, sponsored health programs, decentralized clinical trials, real world data (RWD) sets, and third-party app integration through API.
To find a location near you, please visit: healthtab.com/locations
Avricore Health Inc. (TSXV: AVCR) is a pharmacy service innovator focused on acquiring and developing early-stage technologies aimed at moving pharmacy forward. Through its flagship offering HealthTab™ (a wholly owned subsidiary), its mission is to make actionable health information more accessible to everyone by creating the world's largest network of rapid testing devices in community pharmacies.
Avricore Health Inc. Hector Bremner, CEO 604-773-8943 info@avricorehealth.com www.avricorehealth.com
Cautionary Note Regarding Forward-Looking Statements Information in this press release that involves Avricore Health's expectations, plans, intentions or strategies regarding the future are forward-looking statements that are not facts and involve a number of risks and uncertainties. Avricore Health generally uses words such as "outlook," "will," "could," "would," "might," "remains," "to be," "plans," "believes," "may," "expects," "intends," "anticipates," "estimate," "future," "positioned," "potential," "project," "remain," "scheduled," "set to," "subject to," "upcoming," and similar expressions to help identify forward-looking statements.
In this press release, forward-looking statements include statements regarding: the completion of the placement and the expected timing thereof and the Company's expected use of proceeds from the placement; the unique features that the HealthTab™ platform offers to pharmacists and patients. Forward-looking statements reflect the then-current expectations, beliefs, assumptions, estimates and forecasts of Avricore Health's management. The forward-looking statements in this press release are based upon information available to Avricore Health as of the date of this press
release. Forward-looking statements believed to be true when made may ultimately prove to be incorrect. These statements are not guarantees of the future performance of Avricore Health and are subject to a number of risks, uncertainties and other factors, some of which are beyond its control and may cause actual results to differ materially from current expectations, including without limitation: failure to meet regulatory requirements; changes in the market; potential downturns in economic conditions; and other risk factors described in Avricore's public filings. These forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy.
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Hosting Call at 5:00 pm ET on Thursday , August 25th
European Q&A Session on August 26 th at 8:30am ET
Nanalysis Scientific Corp. ("the Company", (TSXV: NSCI) (OTCQX: NSCIF) (FRA: 1N1), a leader in portable NMR machines and MRI technology for healthcare and industrial applications announces that on Thursday, August 25, 2022 the Company will put out a press release and Chief Executive Officer Sean Krakiwsky and Interim Chief Financial Officer Randall McRae will host a conference call at 5:00 P.M. Eastern Time to discuss the results for the quarter June 30 2022.
Investors interested in participating on the live second quarter call can dial 1-888-664-6392 or 416-764-8659 from abroad. Investors can also access the call online through a listen-only webcast here: https://app.webinar.net/32l7RdQB0Zw or on the investor relations section of the Company's website HERE .
The webcast will be archived on the Company's investor relations webpage for at least 90 days and a telephonic playback will be available for seven days after the conference call by calling 1-888-390-0541 or 416-764-8677, conference ID #484317.
Additionally, the Company will be hosting a Q&A session for it's European investors at 8:30am ET on Friday , August 26 th which can be accessed by the following link: Click here to join the meeting ,or call in (audio only) +1 437-703-4522, Phone Conference ID: 636 080 139#.
Nanalysis trades on the TSX Venture Exchange (TSXV) in Canada with ticker symbol 'NSCI', OTC and the Frankfurt exchange under the ticker symbol '1N1'. The company's business is what we term "MRI and NMR for industry". The company develops and manufactures portable Nuclear Magnetic Resonance (NMR) spectrometers or analyzers for laboratory and industrial markets. The NMReady-60™ was the first full-feature portable NMR spectrometer in a single compact enclosure requiring no liquid helium or any other cryogens. The company has followed-up that initial offering with new products and continues to have a strong innovation pipeline. Nanalysis recently announced that it has begun selling a 100MHz device in 2020. The Company's new device will be the most powerful and most advanced compact NMR device ever brought to market.
Nanalysis devices are used in many industries (oil and gas, chemical, mining, pharma, biotech, flavor and fragrances, agrochemicals, law enforcement, and more) as well as numerous government and university research labs around the world. The Company continues to exploit new global market opportunities independently and with partners.
With the recent acquisition of K'(Prime) Technologies Inc. (KPrime), the company maintains a North American sales and service company of over 40 individuals who cover scientific instrumentation for pharma, food, chemical and oil & gas customers, as well as imaging systems for security applications.
Additionally, the Company has a 43% ownership in Quad Systems AG ("Quad Systems"), with an option to purchase the remaining shares. Quad Systems is a Zurich-based Nuclear Magnetic Resonance (NMR) company focused on high-field NMR for pharmaceutical and other vertical markets.
This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "anticipates", "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed", "positioned" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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Alkaline Fuel Cell Power Corp. (NEO: PWWR) (OTCQB: ALKFF) (Frankfurt: 77R, WKN: A3CTYF) ("AFCP" or the "Company") a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech, is pleased to announce that the Company is supplementing the ongoing development of our 4 kW Combined Heat and Power (" CHP ") fuel cell by developing a range of fuel cells that target more immediate revenue opportunities within the off-grid and back-up generator markets.
"A number of global pressures are driving rapid growth and accelerating the revenue potential of the generator market at a pace that exceeds the mass home market, and AFCP is ideally positioned to use our cost-effective alkaline technology to meet this growing demand," commented Frank Carnevale, Chief Executive Officer of AFCP. "By leveraging our existing staff and resources in Belgium and Czech Republic, we anticipate being able to generate revenue earlier by selling our fuel cells into the burgeoning generator market."
Off-Grid and Back-up Generator Systems In 2021, the global portable generator market had a value estimated at US$4.6 billion with that figure expected to grow to US$6.7 billion by 2027, representing a CAGR of 6.5% over the period 1 . AFCP is developing fuel cells of varying power output capacities to satisfy these off-grid and back-up generator markets, including fuel cell configurations with an expected stacked range between 40kW and 100kW generator systems. These configurations build on AFCP's current design for the 4kW CHP system, incorporating different membrane technology into larger fuel cells suitable for servicing the generator market.
Discussions with integrators are ongoing and AFCP will collaborate with them to gain access to assembly, sales, marketing, and maintenance capabilities for customers, with the goal of targeting systems that have a power capacity of between 40kW and 100kW with our alkaline fuel cell, including the following:
Global players currently operating within the above segments provide diesel generators which feature a significant carbon footprint compared to the zero-emission alternative offered by AFCP's fuel cells.
Key Advantages of AFCP's Alkaline Technology Alkaline fuel cell technology offers a number of meaningful advantages compared to other fuel cell types, including:
Emerging Trends in the Off-Grid Generator Segment The construction sector is a large market and accounts for 36% of global energy use and 38% of energy-related CO 2 emissions. This sector has a large demand for off-grid power generation that is currently being met by diesel power generators and aligns with the heavy transportation sector given both sectors use diesel fuel as the main energy carrier 2 .
As a result, there will be significant challenges adhering to future CO 2 and pollution regulations. For example, in April of 2022, the UK changed its legislation to restrict the use of tax free diesel in generators, which renders hydrogen powered generators as an interesting alternative both ecologically and economically. Across Europe and the UK, the power generation market shows annual sales of nearly 1 billion EUR, while globally that figure is estimated at 20 billion EUR. The market segment being targeted by AFCP represents 65% of this figure and the Company expects that demand for zero emission power generators will grow rapidly driven by the increasing emission restrictions 3 .
The growth potential of this new market is not limited to the sale of new generators; it also includes the replacement of installed generators that no longer meet stricter emission regulations. The anticipated installed base of old diesel generators is forecast between 15 and 20 billion EUR in Europe and the UK and 400 billion EUR world-wide 4 .
Diversification Lends Strength for Second Half of 2022 and Beyond On June 20, 2022, the Company released an outlook for the second half of 2022, and AFCP's expansion into the back-up and off-grid generator markets is consistent with our drive to further accelerate and ramp up efforts to bring fuel cells to market globally. The Company's inclusion of fuel cells for the generator market enables AFCP to generate revenue in the near term while the distribution system for hydrogen to be delivered to homes continues to advance, supporting our long-term goal of providing micro-CHP Alkaline Fuel Cell Power systems to the market. Off-grid and back-up fuel cell generators can operate using tanks of hydrogen that are stored on site, thus eliminating the need for hydrogen to be distributed directly to local sites.
ABOUT ALKALINE FUEL CELL POWER CORP. (NEO: PWWR) AFCP is a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech. We bring ‘Power to the People' today, combining a stable revenue stream with a future-forward vision to commercialize our advanced hydrogen fuel cell technology to meet the massive global market need, and ultimately generate compelling returns for investors.
AFCP operates through two global entities: Fuel Cell Power NV, a wholly owned subsidiary in Belgium, and PWWR Flow Streams ("PWWR Flow"), an AFCP brand in Canada.
AFCP is well positioned to deliver ‘Power to the People' in the global energy transition while offering a diversified cleantech growth platform for investors.
Further information is available on the Company website at https://www.fuelcellpower.com/ , and the Company encourages investors and other interested stakeholders to follow it on:
LinkedIn , Twitter , Facebook , Instagram and YouTube . Common shares are listed for trading on the NEO Exchange ("NEO") under the symbol " PWWR ", the OTC Venture Exchange "OTCQB" under the symbol " ALKFF " and on the Frankfurt Exchange under symbol " 77R " and " WKN A3CTYF ".
For further information, please contact:
Frank Carnevale Chief Executive Officer +1 (647) 531- 8264 fcarnevale@fuelcellpower.com
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "achieve". Forward-looking statements may include, but are not limited to, statements with respect to the Company's technology, intellectual property, business plan, objectives and strategy.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward- looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
NEITHER THE NEO EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE NEO EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
1 Research and Markets : Portable Generator Market, Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027 2 BBC Article on Zero-Emission Construction Sites , June 22, 2021 3 Internal AFCP Market research 4 European non-road mobile machinery directive
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Alkaline Fuel Cell Power Corp. (NEO: PWWR) (OTCQB: ALKFF) (Frankfurt: 77R, WKN: A3CTYF) ("AFCP" or the "Company") a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech, is pleased to announce that the Company is supplementing the ongoing development of our 4 kW Combined Heat and Power (" CHP ") fuel cell by developing a range of fuel cells that target more immediate revenue opportunities within the off-grid and back-up generator markets.
"A number of global pressures are driving rapid growth and accelerating the revenue potential of the generator market at a pace that exceeds the mass home market, and AFCP is ideally positioned to use our cost-effective alkaline technology to meet this growing demand," commented Frank Carnevale, Chief Executive Officer of AFCP. "By leveraging our existing staff and resources in Belgium and Czech Republic, we anticipate being able to generate revenue earlier by selling our fuel cells into the burgeoning generator market."
Off-Grid and Back-up Generator Systems In 2021, the global portable generator market had a value estimated at US$4.6 billion with that figure expected to grow to US$6.7 billion by 2027, representing a CAGR of 6.5% over the period 1 . AFCP is developing fuel cells of varying power output capacities to satisfy these off-grid and back-up generator markets, including fuel cell configurations with an expected stacked range between 40kW and 100kW generator systems. These configurations build on AFCP's current design for the 4kW CHP system, incorporating different membrane technology into larger fuel cells suitable for servicing the generator market.
Discussions with integrators are ongoing and AFCP will collaborate with them to gain access to assembly, sales, marketing, and maintenance capabilities for customers, with the goal of targeting systems that have a power capacity of between 40kW and 100kW with our alkaline fuel cell, including the following:
Global players currently operating within the above segments provide diesel generators which feature a significant carbon footprint compared to the zero-emission alternative offered by AFCP's fuel cells.
Key Advantages of AFCP's Alkaline Technology Alkaline fuel cell technology offers a number of meaningful advantages compared to other fuel cell types, including:
Emerging Trends in the Off-Grid Generator Segment The construction sector is a large market and accounts for 36% of global energy use and 38% of energy-related CO 2 emissions. This sector has a large demand for off-grid power generation that is currently being met by diesel power generators and aligns with the heavy transportation sector given both sectors use diesel fuel as the main energy carrier 2 .
As a result, there will be significant challenges adhering to future CO 2 and pollution regulations. For example, in April of 2022, the UK changed its legislation to restrict the use of tax free diesel in generators, which renders hydrogen powered generators as an interesting alternative both ecologically and economically. Across Europe and the UK, the power generation market shows annual sales of nearly 1 billion EUR, while globally that figure is estimated at 20 billion EUR. The market segment being targeted by AFCP represents 65% of this figure and the Company expects that demand for zero emission power generators will grow rapidly driven by the increasing emission restrictions 3 .
The growth potential of this new market is not limited to the sale of new generators; it also includes the replacement of installed generators that no longer meet stricter emission regulations. The anticipated installed base of old diesel generators is forecast between 15 and 20 billion EUR in Europe and the UK and 400 billion EUR world-wide 4 .
Diversification Lends Strength for Second Half of 2022 and Beyond On June 20, 2022, the Company released an outlook for the second half of 2022, and AFCP's expansion into the back-up and off-grid generator markets is consistent with our drive to further accelerate and ramp up efforts to bring fuel cells to market globally. The Company's inclusion of fuel cells for the generator market enables AFCP to generate revenue in the near term while the distribution system for hydrogen to be delivered to homes continues to advance, supporting our long-term goal of providing micro-CHP Alkaline Fuel Cell Power systems to the market. Off-grid and back-up fuel cell generators can operate using tanks of hydrogen that are stored on site, thus eliminating the need for hydrogen to be distributed directly to local sites.
ABOUT ALKALINE FUEL CELL POWER CORP. (NEO: PWWR) AFCP is a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech. We bring ‘Power to the People' today, combining a stable revenue stream with a future-forward vision to commercialize our advanced hydrogen fuel cell technology to meet the massive global market need, and ultimately generate compelling returns for investors.
AFCP operates through two global entities: Fuel Cell Power NV, a wholly owned subsidiary in Belgium, and PWWR Flow Streams ("PWWR Flow"), an AFCP brand in Canada.
AFCP is well positioned to deliver ‘Power to the People' in the global energy transition while offering a diversified cleantech growth platform for investors.
Further information is available on the Company website at https://www.fuelcellpower.com/ , and the Company encourages investors and other interested stakeholders to follow it on:
LinkedIn , Twitter , Facebook , Instagram and YouTube . Common shares are listed for trading on the NEO Exchange ("NEO") under the symbol " PWWR ", the OTC Venture Exchange "OTCQB" under the symbol " ALKFF " and on the Frankfurt Exchange under symbol " 77R " and " WKN A3CTYF ".
For further information, please contact:
Frank Carnevale Chief Executive Officer +1 (647) 531- 8264 fcarnevale@fuelcellpower.com
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "achieve". Forward-looking statements may include, but are not limited to, statements with respect to the Company's technology, intellectual property, business plan, objectives and strategy.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward- looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
NEITHER THE NEO EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE NEO EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
1 Research and Markets : Portable Generator Market, Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027 2 BBC Article on Zero-Emission Construction Sites , June 22, 2021 3 Internal AFCP Market research 4 European non-road mobile machinery directive
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Tantalus Systems (TSX: GRID) ("Tantalus" or the "Company"), a smart grid technology company focused on helping build sustainable utilities for the future, is pleased to announce its financial and operating results for the second quarter ended June 30, 2022.
"We are pleased with the progress our team continues to make in 2022 despite operating in a challenging business environment. In addition to delivering revenue growth of approximately 13% in the quarter as compared to last year, we also had 5 new utilities join our user community during Q2," stated Peter Londa, President & CEO of Tantalus. "In addition to expanding our user community, we delivered a new milestone for converted orders from our sales pipeline for the first six months of a calendar year at $24.7 million, reflecting 44% growth year-over-year. We also set a new high-water mark for our Annualized Recurring Revenue1 which now stands at $9.0 million."
Revenue3 in the quarter increased by 13% year-over-year to $9.1 million for the quarter.
Despite inflationary pressures, Gross Profit Margin4 remained relatively constant at 46% for the quarter.
Due to investments being made in R&D to bring new products to market, Adjusted EBITDA was ($1.5 million) for the quarter. These near-term investments in R&D are tied to key growth initiatives for the Company.
The Balance Sheet remained strong with total assets amounting to $37.8 million, inclusive of $9.8 million in cash. Adjusted Working Capital5 was $6.6 million.
"As we continue to witness favorable tailwinds across the utility industry, we are investing heavily in the development of our TRUSense IP Gateway, expanding our AI-enabled data analytics capabilities and integrating the software capabilities of Congruitive, our recently announced acquisition. The combination of the TRUSense IP Gateway and Congruitive's software places Tantalus at the forefront of becoming a market leader in assisting utilities with their preparation for the integration of electric vehicle charging infrastructure and the adoption of distributed energy resources, such as solar, storage and microgrids, and the delivery of broadband services. Our near-term R&D investments are buttressed by the largest qualified sales pipeline in our Company's history. While the current business environment remains fluid, we continue to witness strong momentum as utilities seek to digitize distribution grids to improve their resiliency and prepare for the energy transition."
The Company will hold a conference call and webcast to discuss the financial results on Wednesday, August 10, 2022 at 11:00 am Eastern Time.
Conference Call Participant Dial In (Toll Free) 1-844-854-4410 Participant International Dial In 1-412-317-5791 Please ask to join the Tantalus Systems earnings call.
Webcast https://event.choruscall.com/mediaframe/webcast.html?webcastid=nEEOr7AX
Replay Information A conference call replay will be available until August 18, 2022. The webcast will be available until August 17, 2023 at the link set out above. To access the conference call replay, please see details below:
US Toll Free: 1-877-344-7529 International Toll: 1-412-317-0088 Canada Toll Free 1-855-669-9658 Replay Access Code 3817309
Financial Statements and Management Discussion & Analysis
Please see the Company's consolidated financial statements ("Financial Statements") and related Management's Discussion & Analysis ("MD&A") for more details. The consolidated financial statements for the three and six months ended June 30, 2022, and related MD&A have been reviewed and approved by Tantalus' Audit Committee and Board of Directors. For a more detailed explanation and analysis, please refer to the MD&A that has been filed on SEDAR at www.sedar.com and is also available on the Company's website at www.tantalus.com.
Non-IFRS and Other Financial Measures This press release refers to the following non-IFRS measures:
"EBITDA" is comprised as income (loss) less interest, income tax and depreciation and amortization. Management believes that EBITDA is a useful indicator for investors, and is used by management, in evaluating the operating performance of the Company. See "Reconciliation of Net (Loss) / Income to Adjusted EBITDA" for a quantitative reconciliation of Adjusted EBITDA to the most directly comparable financial measure. "Adjusted EBITDA" is comprised as income (loss) less interest, income tax, depreciation, amortization, stock-based compensation, foreign exchange gain (loss) and other income / expenses not attributable to the operations of the Company. Management believes that EBITDA is a useful indicator for investors, and is used by management, in evaluating the operating performance of the Company. See "Reconciliation of Net (Loss) / Income to Adjusted EBITDA" for a quantitative reconciliation of Adjusted EBITDA to the most directly comparable financial measure.
"Gross Profit" is comprised as the Company's revenues less cost of sales. Management believes that Gross Profit is a useful indicator for investors, and is used by management, in evaluating the operating performance of the Company. See "Gross Profit Reconciliation" for a quantitative reconciliation of Gross Profit to the most directly comparable financial measure. This press release refers to "Gross Profit Margin" which is a non-IFRS ratio. Gross Profit Margin is comprised of Gross Profit expressed as a percentage of the Company's revenues. Management believes that Gross Profit Margin is a useful indicator for investors, and is used by management, in evaluating the operating performance of the Company.
"Adjusted Working Capital" is comprised as current assets less current liabilities exclusive of the Company's bank loan. Management believes Adjusted Working Capital is a useful indicator for investors, and is used by management, for evaluating the operating liquidity to the Company. See "Adjusted Working Capital Reconciliation" for a quantitative reconciliation of Adjusted Working Capital to the most directly comparable financial measure.
"Recurring Revenue" is comprised of the Company's revenues that are recurring in nature and attributable to its analytics software as a service ("SaaS") offering, hosting services and software maintenance and technical support agreement services. "Annual Recurring Revenue" or "ARR" is comprised of the Company's Recurring Revenue as expressed on an annualized revenue basis attributable to its customer agreements at a point in time.
Such non-IFRS measures and non-IFRS ratio do not have a standardized meaning under IFRS and may not be comparable to a similar measure disclosed by other issuers.
Reconciliation of Net (Loss) to Adjusted EBITDA
(a)Finance expense comprised of interest and related finance expense on bank loans and lease liabilities. (b)Share-based non-cash compensation expense. (c)Foreign exchange comprised of unrealized (gain) / loss from non-functional currency assets and liabilities. (d)General and administrative expenses pertaining to the Company's acquisition of Congruitive. (e)Reverse acquisition listing expense comprised of excess purchase price over RiseTech net assets acquired and costs.
About Tantalus Systems Holding Inc. (TSX: GRID)
Tantalus is a smart grid technology company that transforms aging one-way grids into future-proofed multi-directional grids that improve the efficiency, reliability and sustainability of public power and electric cooperative utilities and the communities they serve. Our solutions are purpose-built to allow utilities to restore power quickly after major disruptions, adapt to rapidly shifting consumer expectations and population shifts, innovate new solutions based on the adoption of distributed energy resources and evolve their grid infrastructure at their own pace without needless cost or complexity. All this gives our user community the flexibility they need to get the most value from existing infrastructure investments while planning for future requirements. Learn more at www.tantalus.com.
This news release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words "believes", "may", "plans", "will", "anticipates", "intends", "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions. Forward-looking information in this news release includes statements such as those relating to: favorable tailwinds for the utility industry, the adoption, performance and development of the TRUSense IP Gateway, AI-enabled analytics and Congruitive software leading to Tantalus becoming a market leader, the Company's qualified sales pipeline (and the Company's ability to close sales in the current sales pipeline) and continuing momentum relating to utilities seeking to digitize distribution grids.
To the extent any forward-looking information in this news release constitutes a "financial outlook" within the meaning of securities laws, such information is being provided because management's estimate of the future financial performance of Tantalus is useful to investors, and readers are cautioned that this information may not be appropriate for any other purpose and that they should not place undue reliance on such information.
In connection with the forward-looking information contained in this news release, Tantalus has made numerous assumptions, regarding, among other things: the expected impact of COVID-19, the expected impact of supply chain constraints, the expected impact of inflationary pressures on costs and the expected timing of new product introductions. While Tantalus considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause Tantalus' actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein.A complete discussion of the risks and uncertainties facing Tantalus is disclosed under the heading "Risk Factors" in the Tantalus' Annual Information Form dated March 23, 2022, as well as those risk factors included with Tantalus' continuous disclosure filings with Canadian securities regulatory authorities available at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and Tantalus disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
Contact Tantalus: Deborah Honig Investor Relations 647-203-8793 | deborah@adcap.ca
Website: www.tantalus.com LinkedIn: LinkedIn/company/tantalus Twitter: @TantalusCorp ________________________________
1 See "Non-IFRS and Other Financial Measures."
2 Financial information is reported in United States dollars ("$") unless otherwise stated and in accordance with International Financial Reporting Standards ("IFRS").
3 Unless otherwise stated Q2, 2022 results are compared to the same period in 2021.
4 See "Non-IFRS and Other Financial Measures."
5 See "Non-IFRS and Other Financial Measures."
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/133306
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