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Toronto, ON – AmmPower Corp. (CSE: AMMP) (OTCQB: AMMPF) (FSE: 601A) (the “Company” or “AmmPower”) is pleased to announce that it’s prototype for the IAMM™ agricultural unit, the Independent Ammonia Making Machine™, is near completion. The prototype is designed to produce 50kg/day of carbon-free ammonia. The IAMM™ unit and its prototype do not rely on any carbon-producing feedstock, meaning they have no reliance on natural gas.
The current war in Ukraine has shown the world that relying on carbon-based energy imports can have devastating consequences. As illustrated in the graph below [source: Doomberg.Substock.com], ammonia prices have recently shot up to over $1,200/ton, and this is a direct result of the instability and increase in natural gas prices. [source: USDA report, “Impact of Rising Natural Gas Prices on U.S. Ammonia Supply”].
Indeed, one of the most important ways for energy independence is for countries to build their own renewable energy infrastructure. The AmmPower IAMM™ unit is designed to produce green ammonia from green hydrogen and any renewable electricity source, rendering it independent from both natural gas and oil prices. The IAMM™ will allow farmers and fertilizer-makers to take control of their own ammonia supply for the first time.
Pictured here is the AmmPower IAMM™ prototype, near completion, next to the rendering of its original vision. The IAMM™ prototype is completely scalable in its technology stack and the sales cycle beginning next quarter will aim to sell IAMM™ units capable of generating 4 metric tons/day of green ammonia at tradeshows and direct to consumers. The company intends to price the units competitively, having regard to maximizing prospective customers’ return on investment and eligibility for carbon credits and similar government incentives.
Eric Kelley, long time industry veteran and fertilizer expert, will oversee sales for the IAMM™ unit. Mr. Kelley states, “Being in the agricultural business for over 30 years, I fully saw the potential of a self-sustained, green ammonia unit. The farming space has always been subject to high volatility due to factors out of its control. The IAMM™ unit allows farmers to take charge of their own ammonia supply. The fact that the ammonia is green, with no reliance on natural gas, is an added bonus for all stakeholders involved. I feel that the IAMM™ will be a critical disruptor in a quickly evolving agricultural market.”
On Behalf of the Board of Directors
Gary Benninger
Chief Executive Officer
About AmmPower
AmmPower is a resource exploration company with an increasing focus on clean energy. The Company is based in Toronto, Ontario, with a research and manufacturing facility in southeast Michigan. The company owns the Whabouchi South lithium exploration property located in the James Bay/Eeyou Istche region of Quebec and holds an option over the Titan Property located in the Klotz Lake area in Northwestern Ontario. In addition, together with its partner, ORF Technologies Inc., based in Toronto, Canada, the Company is working on the development of a proprietary solution to produce green ammonia and green hydrogen, and is also investigating revolutionary catalyst methods to react Nitrogen and Hydrogen together with the aim of creating 100% clean, and cost effective green, turquoise, and blue ammonia.
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Forward-Looking Statements
This news release includes forward-looking statements that are subject to risks and uncertainties, including with respect to the expected completion date of the prototype, and the Company’s ability to produce, market and sell the Independent Ammonia Making Machines, and the anticipated benefits and pricing thereof. All statements within, other than statements of historical fact, are to be considered forward-looking. 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.
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