It’s being called the “fuel of the future” in the new age of electric vehicles, but this common household chemical was already being used as a fuel nearly 80 years ago.
With a massive diesel shortage set to disrupt Belgium during World War 2, the bus system was on the verge of shutting down.
This would have left millions of people without transportation while the world was in a state of complete chaos.
But engineers responded, producing a state-of-the-art combustion system using an ingredient you’d never expect: ammonia.
And for a time, over 100 buses raced through the streets of Belgium powered by the common gas now produced using just electricity, water, and air.
Today, ammonia is mostly being used as fertilizer for crops, refrigerant to keep your freezer cold, and for household cleaning supplies.
But the 80-year-old idea to use ammonia as fuel is finally making its way back to the mainstream amid the huge boom in green energy enthusiasm.
For example, ammonia was used to fuel a pickup truck all the way from
Detroit to San Francisco.
And the truck only needed to refuel once along the way.
That’s because the colorless fuel is said to be up to 9x more powerful than today’s lithium-ion batteries.
At a time when owners of battery-powered EVs are worried about getting more than 200 miles without recharging…
Imagine being able to drive 2,400 miles and only filling up once.
This is opening up a new corner of the EV market most aren’t expecting.
And that’s why
AmmPower Corp. (
CSE:AMMP
;
OTC:AMMPF
)
, a small energy company out of Canada, is so excited about the prospects of their new technology.
The Heavy Side of the EV Boom
AmmPower
is currently developing proprietary technology that would help produce cleaner ammonia more efficiently.
That’s a huge deal when trillions of dollars are now flowing into ESG funds, and the green energy revolution is touching seemingly every industry.
AmmPower is building modular units to produce ammonia, and their flexible design could make it easy for anyone from farmers to giant cargo freight operators to produce and store as much fuel as they need.
That’s because their modular units will be scalable and stackable, so customers can buy larger models or stack more together to scale up production.
And AmmPower’s
technology could be a huge boon for the
$14 trillion shipping industry
, as they could help deliver more of this green fuel to drive massive cargo ships on long journeys.
But it may also go far beyond that, as ammonia could soon be used to power everything from cars to vans, trucks, forklifts, and jets.
And with over 120 ports already equipped with ammonia terminals today, the transition to this “fuel of the future” may be coming sooner than we imagined.
AmmPower Corp. (
CSE:AMMP
;
OTC:AMMPF
)
plans to begin Phase 1 of production this year, creating units that could produce between half a ton to a ton of ammonia in Phase 1 every single day.
But in Phase 2, they’ll be scaling up, and the larger units are expected to produce up to 25 tons per day. At this level of production, AmmPower will be ready to service the lucrative shipping market providing the much needed green fuel for the industry.
This technology could be exactly what the shipping industry needs to make a huge transition over to ammonia fuel cell vehicles.
And with the International Marine Organization now mandating that the marine industry accomplish a goal of zero carbon emissions by 2040…
the switch to ammonia is an obvious choice for this enormous industry.
And it’s only boosting enthusiasm more as many are already seeing the revenue potential from other green energy companies in the EV space.
Billion-Dollar Companies Paving the Path
While ammonia has been picking up momentum recently in the EV markets, another green gas has been paving the way forward in recent years.
Hydrogen companies have been riding this wave to multiple billion dollar valuations even as the switch to green energy is still relatively early.
For example, FuelCell Energy is now sporting a market cap of $3.2 billion.
Ballard Power Systems has seen its market cap climb to $5.3 billion.
And the name ripping across headlines, Nikola, now has a market cap of $6.6 billion even before producing a single hydrogen fuel-cell vehicle.
But despite the buzz we’re seeing about hydrogen in the media today, it also comes with a massive downside.
Because of the chemical qualities of the fuel, it can be extremely expensive to move it from one place to another.
That’s because the hydrogen needs to be kept at -253 degrees Celsius, which requires either high-pressure tanks or cryogenic dewars.
Ammonia, on the other hand, only needs to be kept at -33 degrees Celsius, making it both easier and much cheaper to transport.
Plus, ammonia (or NH3) can be used to capture, store, and transport hydrogen (H2) since ammonia can be broken down into hydrogen for fuel as well.
That means that not only can ammonia be used for fuel on its own. It can also be turned into hydrogen, which opens the market up to power both ammonia and hydrogen fuel cell vehicles.
But now, action is starting to pick up for companies in the ammonia fuel cell space.
Yara International is now planning to install electrolyzers to make up to 3,500 tons per year at its plant in Pilbara, Australia.
Air Products & Chemicals could spend up to $2 billion to help move ammonia worldwide to different specialized plants. That would be enough to fuel nearly 15,000 hydrogen fuel cell trucks and buses.
And CF industries, the world’s largest ammonia producer, is now saying there’s a fundamental shift happening in the industry.
Where ammonia used to be sold primarily for its utility as a fertilizer, they’re now seeing a huge surge in interest for ammonia as a fuel.
Which is why
AmmPower (
CSE:AMMP
;
OTC:AMMPF
)
is picking up the pace on pushing its new proprietary technology forward.
Surging Ahead to Produce the “Fuel of the Future”
AmmPower
is now in the process of
securing
its state-of-the-art manufacturing facility in Michigan.
Production is moving along quickly. By the end of the year, the company expects to have its prototype up and running…
Then it will be time to scale up the size to meet the needs of both the smaller-scale farmers and large-scale industrial freight operators.
And AmmPower is being led by an all-star team, helping them push ahead toward that goal.
And their CEO, Gary Benninger has a track record of success that few can match in the tech industry.
After starting as a research scientist at NASA, he went on to hold leadership positions at Ford and Magna International.
And from there, he served on the Board of Directors for several companies and led as CEO of a tech-based NASDAQ-traded company.
Now, he’ll plan to bring up this innovative new tech company to grab a portion of the $14 trillion global shipping industry as it transitions toward a new eco-friendly fuel.
Compared to industry giants like Air Products & Chemicals, with a market cap of $68 billion, AmmPower is trading at a relative bargain and has loads of upside potential.
And at a modest market cap of around $120 million at the moment, it’s in a prime position to blaze a path forward in this new ammonia fuel market.
With ammonia set to play a massive role in fueling vehicles both on land and overseas, this is creating an incredible blue-sky opportunity for
AmmPower (
CSE:AMMP
;
OTC:AMMPF
)
to dominate this market in the months ahead.
Other companies looking to capitalize on this new power shift:
S
uncor (TSX:SU)
is a world leader in renewable energy innovations. Recently, the company invested $300 million in a wind farm located in Alberta. Additionally, as Canada moves away from oil, Suncor is well positioned to take advantage of another one of the country’s resource reserves; Lithium.
Though Suncor isn’t a lithium play at its core, it does provide a unique opportunity for the company to diversify even more into the booming green energy industry. Lithium isn’t going away anytime soon, and that’s good news for the oil giant.
Westport Fuel Systems (TSX:WRPT)
isn’t a resource play, but it is an important company to watch in the global energy transition. Especially as the world races to leave behind traditional gasoline and diesel-powered vehicles. Because it is a manufacturing play at heart, it is a unique way to get in on the boom in the alternative fuel auto industry.
Westport Fuel has been making major moves in the market over the past year, and its efforts are finally coming to fruition. Since February 2020, the company has seen its stock price rise by more than 300%, and with more potential deals like the one it has just sealed with Amazon to provide natural gas-powered trucks to its fleet, Westport could continue to rise.
Lithium Americas Corp. (TSX:LAC)
is one of Canada’s most important and successful pure-play lithium companies. With two world-class lithium projects in Argentina and Nevada, Lithium Americas is well-positioned to ride the wave of growing lithium demand in the years to come. It’s already raised nearly a billion dollars in equity and debt, showing that investors have a ton of interest in the company’s ambitious plans, and it will likely continue its promising growth and expansion for years to come.
It’s not ignoring the growing demand from investors for responsible and sustainable mining, either. In fact, one of its primary goals is to create a positive impact on society and the environment through its projects. And it’s really beginning to pay off.
Teck Resources Limited (TSX:TECK.B)
is one of Canada’s largest and most diversified resource companies, with operations across the globe. While its primary mining and mineral development plays focus on steelmaking coal, copper and zinc, Teck also has a major stake in renewable energy ventures.
In a release on Teck’s website, the company explains why this investment is so important: “Flow batteries – such as the zinc-air battery developed by ZincNyx, with its flexible and low-cost scaling, long-term storage properties and the ability to separate the energy storage function from the power generation source – could provide a more efficient alternative for large-scale energy storage.”
Over 10 years ago,
Magna International (TSX:MG)
was already making major moves in the battery market, investing over half a billion dollars in battery production while the market was still in its infancy. At the time, electric vehicles as we know them had barely hit the scene, with Tesla launching its premiere car just two years prior.
Magna’s massive investment has paid if in a big way, however. Since its battery bet, the company has seen its valuation soar by tens of billions of dollars, and it has solidified itself as one of the leaders in the business. It will be a key company to watch as the global energy transition accelerates.
By: Nicholas Moore
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