Hydrogen Future Industries PLC – Technology & Feasibility Study Update, Board Changes
Hydrogen Future Industries PLC (AQSE: HFI), a developer of a proprietary wind-based green hydrogen production system featuring an advanced aerodynamic wind turbine and a high-performance electrolyser, is pleased to provide the following update on its technology development and feasibility activities, alongside board changes.
Technology & Feasibility Study Update
Wind Turbine & Mining Feasibility Study
Further testing of the 1-metre diameter wind turbine prototype in Montana, USA has been delayed due to a fault with the control unit which requires upgrading, and a shortage of specialist consultants at site in recent months. The replacement parts and requisite personnel are expected to arrive in Whitehall, Montana later this month as the Company looks to maximise testing operational time during the historically windier period in the winter months. The improved testing configuration will enable remote data collection whilst new sensors will provide more reliable automatic yaw and turbine braking control in high winds.
Tim Blake, CEO, has recently returned from an extended site visit to Whitehall having conducted a review of the testing facilities and equipment whilst meeting with key stakeholders. Mr Blake also took delivery of several litres of wastewater from the mine site tailings facility proximate to the wind turbine site. The wastewater has recently been delivered to the University of Bristol for analysis so that the Company can determine the appropriate separation and cleaning process for its use as electrolysis feedstock.
Agreement has also been reached with Schneider Electric (“Schneider”) to provide key software to assist in the flow-sheet and economic analysis to support the mine site feasibility study at Whitehall, and other locations within the major mining company’s international operations. It is expected that the analysis provided by the Schneider software will provide further evidence of the positive carbon and economic benefits the HFI system could deliver in the mining sector.
Electrolyser development
Concept testing of the Company’s novel electrolyser continued throughout the period in California, USA, led by quantum-physicist, Dr Nicholas Blake, a consultant to HFI and Technical Advisory Board member. The series of tests undertaken achieved an exceptional efficiency of over 97%.
The Company is now undertaking to expedite the development of its inaugural commercial scale electrolyser and apply for patents around the new intellectual property, whilst advancing efficiency and cost-reduction strategies. Notably, HFI’s electrolyser operates efficiently without the need for expensive platinum group metals, marking a significant stride towards reduced operational and maintenance cost, one of the project’s primary objectives.
Board Changes
Effective immediately Mr Neil Ritson will assume the role of Executive Chairman. Mr Daniel Maling will transition to the role of Non-Executive Director, enabling him to focus on his executive responsibilities outside of the business. Mr Tim Blake remains as the non-board CEO of the Company responsible for development and commercial activities.
As announced on 1 November 2024, the Board are reviewing potential candidates for a new independent non-executive director.
Tim Blake, CEO, commented:
“Whilst the turbine testing delays are frustrating, I have been encouraged by the feedback and enthusiasm of our local partners in Montana.
The need for new sources of renewable energy and energy infrastructure is compelling. Our relationships in Whitehall are providing us with access to a significant opportunity to unlock a new renewable energy hub utilising our latest generation green hydrogen technology.”
Neil Ritson, Executive Chairman, commented:
“The development of new technology is rarely straightforward, and we have been managing through a period of equipment and resourcing issues.
Whilst the capital markets remain challenging, we believe our project in Montana will attract new sources of non-dilutive investment in the coming months and the Board remains optimistic a
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Hydrogen Future Industries PLC – Technology & Feasibility Study Update, Board Changes, source
