AMMPF - AmmPower Corp. Announces Patent Award for Pioneering Small-Scale Ammonia Synthesis Converter Design and Engages Transcend Capital to Strengthen Investor Relations Team
(TheNewswire)
August 23, 2023 – TheNewswire - Toronto, Ontario – AmmPower Corp.(CSE: AMMP )(OTC: AMMPF )(FSE: 601A ) (the “Company” or “AmmPower”) an industry leader in innovative green ammoniasolutions, is pleased to announce that a new ammonia synthesis converter technologydesigned for small production units has been granted a utility patentby the United States Patent and Trademark Office (USPTO).
Development of this advanced reactor technology,specifically targeted to provide small-scale and modular greenammonia production with unmatched efficiency, was managed by AmmPowerChief Technologist Dr. Zhenyu Zhang in cooperation with SANsycoConsulting, LLC and a group of experienced ammonia industry experts. Assignment of patent rights for the reactor technology to AmmPoweris expected to be completed in September of 2023. In combinationwith AmmPower’s know-how in product development and manufacturing,the modular Independent Ammonia Making Machine (IAMM™) is set todeliver reliable and cost-effective green ammonia production solutionsand revolutionize the ammonia supply model worldwide.
“The successful issue of this patent is a testamentto AmmPower’s commitment to staying at the forefront oftechnological advancements, says Dr. Gary N. Benninger, CEO ofAmmPower Corp. “It represents a pivotal step in our journey toreshape ammonia production on a small scale, ensuring greatersustainability and efficiency.”
The ammonia synthesis converter technology is also thesubject of an international Patent Cooperation Treaty (PCT)application eligible to secure IP rights in PCT member states. Thesuccessful USPTO patent award and the PCT patent filing will furtherstrengthen AmmPower’s leading IP positions at a global scale inresponse to worldwide customer inquiries of the IAMM units.
Investor Relations Agreement
AmmPower Corp. is also pleased to announce that it hasengaged Transcend Capital Inc. to expand its investor relations andcommunications services throughout Canada.
Transcend Capital is a Vancouver-based full-serviceinvestor relations company, is well-known for its successful marketawareness campaigns that help micro, small and mid-cap publiccompanies gain valued industry exposure through its extensive networkof retail and institutional clients.
AmmPower is delighted to have Mr. Etienne Moshevich,the principal of Transcend, perform shareholder communicationsservices as well as serve as a key point of contact between itsCanadian investors and the Company.
"I am honoured to be joining the AmmPower team andexcited about the opportunities ahead," says Etienne Moshevich,President of Transcend Capital. “I think AmmPower has reached animportant inflection point where substantial milestones can be met andI want to make sure that the Company is exposed to a much broaderaudience as it continues to progress.”
In consideration for its services, Transcend will bepaid a monthly fee of $18,750 per month for a twelve-month periodstarting immediately and ending on July 25th 2024. The Company hasalso granted 1,500,000 options to Transcend priced at $0.15 per shareand exercisable until July 24th, 2028.
More information about Transcend Capital can be foundon their website at: https://www.transcendcapitalinc.com/
About Ammpower
Ammpower is a clean energy company focused on theproduction of green ammonia. The company is based in Toronto, Ontario,with a research and manufacturing facility in Southeast Michigan. Thecompany is active in all facets of green ammonia production, includingthe production of green fertilizers, carbon free shipping fuel, andthe 'cracking', or moving of green hydrogen as ammonia. The company isworking on the development of proprietary technologies to producegreen ammonia and green hydrogen at scale, including the investigationof unique catalytic reactions to bring down costs and to takeadvantage of carbon credits in the renewable energy space. Ammpowercurrently holds several LOIs with ports in Brazil, the United States,and is currently completing its IAMM(TM) prototype to create greenammonia for the agricultural industry.
On Behalf of the Board of Directors
Gary Benninger
Chief Executive Officer
Investor Relations
512-850-7711
invest@ammpower.com
F orward-Looking Statements
This news release includesforward-looking statements that are subject to risks anduncertainties, including with respect to the expected timing of itsname and ticker symbol changes. All statements within, other thanstatements of historical fact, are to be considered forward-looking.The Company provides forward-looking statements for the purpose ofconveying information about current expectations and plans relating tothe future and readers are cautioned that such statements may not beappropriate for other purposes. By its nature, this information issubject to inherent risks and uncertainties that may be general orspecific and which give rise to the possibility that expectations,forecasts, predictions, projections or conclusions will not prove tobe accurate, that assumptions may not be correct and that objectives,strategic goals and priorities will not be achieved. These risks anduncertainties include but are not limited those identified andreported in the Company’s public filings under the Company’s SEDARprofile at www.sedar.com. Although the Company has attempted toidentify important factors that could cause actual actions, events orresults to differ materially from those described in forward-lookinginformation, there may be other factors that cause actions, events orresults not to be as anticipated, estimated or intended. There can beno assurance that such information will prove to be accurate as actualresults and future events could differ materially from thoseanticipated in such statements. The Company disclaims any intention orobligation to update or revise any forward-looking information,whether as a result of new information, future events or otherwiseunless required by law.
The Canadian Securities Exchange(CSE) has not reviewed, approved or disapproved the contents of thispress release.
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