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BOSTON, September 15, 2022–(BUSINESS WIRE)–Introduction Applied sciences Holdings, Inc. (NASDAQ: ADN) (“Introduction” or the “Firm”), an innovation-driven chief within the gasoline cell and hydrogen expertise house, right this moment introduced it has signed a Memorandum of Understanding (“MoU”) with Hydrogen Techniques, Inc. (“Hydrogen Techniques”), a hydrogen vitality options firm based mostly in Riyadh, Saudi Arabia, to supply built-in hydrogen options and value-added help to industrial and renewable vitality markets within the Center East.
Underneath the MoU, Hydrogen Techniques goals to make the most of an unlimited variety of current relationships within the telecom and hydrogen vitality market within the Kingdom of Saudi Arabia, and elsewhere all through the Center East to market, promote, distribute, set up and repair Introduction’s full line of high-temperature proton change membrane (“HT-PEM”) gasoline cells and hydrogen manufacturing merchandise. Concurrently, Introduction and Hydrogen Techniques intend to collaborate and discover potential large-scale growth alternatives for hydrogen gasoline cell energy purposes throughout the area.
Introduction’s household of merchandise, together with the Serene and M-ZERØ® gasoline cell techniques, notice a big carbon benefit over typical diesel distant energy technology expertise. HT-PEM gasoline cells can function with a spread of low or zero-carbon hydrogen fuels and allow extra environment friendly warmth administration. Such gasoline cells can produce energy in excessive ambient temperatures (from -40°C to as much as +55°C) and situations akin to excessive air air pollution and low humidity, leading to an extended lifetime and decrease complete price of possession.
Dr. Vasilis Gregoriou, Introduction’s Chairman and Chief Government Officer, acknowledged, “We stay up for a profitable partnership with Hydrogen Techniques to help the trouble within the Center East to decarbonize quicker by adopting hydrogen and HT-PEM gasoline cells to interchange typical and polluting vitality sources. Hydrogen Techniques’ business data and attain present a bonus in bringing disruptive, rising gasoline cell options to a mature utility.”
Sattam Alsuwailem, Chief Government Officer of Hydrogen Techniques, added: “We’re excited to have Introduction as our new business companion and really consider that this new collaboration can play a significant function in dashing up the Center East’s transition to scrub vitality applied sciences. All of us at Hydrogen Techniques are related by means of a shared mission to proceed offering our clients with probably the most dependable, environment friendly, and cost-effective hydrogen options. We stay up for additional strengthening this mission by bringing Introduction’s extremely differentiated expertise to the Center East market.“
About Introduction Applied sciences Holdings, Inc.
Introduction Applied sciences Holdings, Inc. is a U.S. company that develops, manufactures, and assembles full gasoline cell techniques in addition to supplying clients with vital elements for gasoline cells within the renewable vitality sector. Introduction is headquartered in Boston, Massachusetts, with workplaces in California, Greece, Denmark, Germany, and the Philippines. With greater than 150 patents issued, pending, and/or licensed for gasoline cell expertise, Introduction holds the IP for next-generation HT-PEM that permits varied fuels to perform at excessive temperatures and beneath excessive situations, conferring the virtues of a versatile gasoline possibility for the automotive, aviation, protection, oil and gasoline, marine, and energy technology sectors. For extra info, go to www.introduction.vitality.
About Hydrogen Techniques, Inc.
Hydrogen Techniques is a Saudi Arabia based mostly firm devoted to delivering probably the most complete and cost-effective hydrogen gasoline options to its clients within the better GCC area. Hydrogen Techniques was based in 2009 and has grown steadily over the past 10 years by offering precious options and companies to their clients. With the institution of the Hydrogen Vitality Heart of Excellence, Hydrogen Techniques is dedicated to the localization and growth of hydrogen vitality and decarbonization options to fulfill the rising demand within the area.
Cautionary Observe Relating to Ahead-Wanting Statements
This press launch consists of forward-looking statements. These forward-looking statements usually might be recognized by means of phrases akin to “anticipate,” “count on,” “plan,” “might,” “might,” “will,” “consider,” “estimate,” “forecast,” “aim,” “challenge,” and different phrases of comparable which means. Every forward-looking assertion contained on this press launch is topic to dangers and uncertainties that would trigger precise outcomes to vary materially from these expressed or implied by such assertion. Relevant dangers and uncertainties embody, amongst others, the Firm’s potential to keep up the itemizing of the Firm’s frequent inventory on Nasdaq; future monetary efficiency; public securities’ potential liquidity and buying and selling; influence from the end result of any identified and unknown litigation; potential to forecast and keep an sufficient price of income development and appropriately plan its bills; expectations relating to future expenditures; future mixture of income and impact on gross margins; attraction and retention of certified administrators, officers, staff and key personnel; potential to compete successfully in a aggressive business; potential to guard and improve Introduction’s company status and model; expectations regarding its relationships and actions with expertise companions and different third events; influence from future regulatory, judicial and legislative modifications to the business; potential to find and purchase complementary applied sciences or companies and combine these into the Firm’s enterprise; future preparations with, or investments in, different entities or associations; and intense competitors and aggressive strain from different firms worldwide within the industries during which the Firm will function; and the dangers recognized beneath the heading “Threat Elements” in Introduction’s Annual Report on Kind 10-Ok filed with the Securities and Change Fee (“SEC”) on March 31, 2022, in addition to the opposite info filed with the SEC. Traders are cautioned to not place appreciable reliance on the forward-looking statements contained on this press launch. You’re inspired to learn Introduction’s filings with the SEC, out there at www.sec.gov, for a dialogue of those and different dangers and uncertainties. The forward-looking statements on this press launch converse solely as of the date of this doc, and the Firm undertakes no obligation to replace or revise any of those statements. Introduction’s enterprise is topic to substantial dangers and uncertainties, together with these referenced above. Traders, potential traders, and others ought to give cautious consideration to those dangers and uncertainties.
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Contacts
Introduction Applied sciences Holdings, Inc.
Elisabeth Maragoula / Michael Trontzos
press@introduction.vitality
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