Element 1 Corp Signs Development Agreement with Chinese Partner

Element 1 Corp (“e1”), a leading developer of hydrogen generation technology, today announced it has signed a Purchase Contract with Blue-G New Energy Science and Technology Corporation (“Blue-G”), a clean energy company based in Beijing.

“This announcement follows July’s announcement to develop a 100 kg per day hydrogen generator for China fuel cell bus refueling stations, and May’s announcement to form a joint venture to commercialize fuel cell systems for China’s telecom market. e1 is committed to China, and their rapidly growing hydrogen economy.”

The Purchase Contract is for e1 to deliver a hydrogen generator designed to provide up to 500 liters per minute of high-purity hydrogen, and because it is operated onboard fuel-cell-powered electric buses and logistic vehicles, there is not a dependency on stationary hydrogen fueling infrastructure. The onboard hydrogen generator, based on e1’s patented technology, converts a mixture of methanol and water to high-purity hydrogen. Blue-G will integrate the hydrogen generator into fuel-cell buses, targeting customers in China. The successful delivery of the first hydrogen generator is expected to lead to a license agreement between e1 and Blue-G in 2018.

e1s’ CEO, Dave Edlund, said, “Fuel cells have become a very important component of China’s five-year plan to invest in clean energy, with Blue-G playing a leading role in fulfilling the vision of China’s Hydrogen Economy. We are impressed with the traction Blue-G is achieving in the China market, and look forward to working closely with the Blue-G team. e1’s innovative technology offers unique and compelling engineering design advantages, while also providing scalability and multiple form factors.” Dr. Edlund concluded, “This announcement follows July’s announcement to develop a 100 kg per day hydrogen generator for China fuel cell bus refueling stations, and May’s announcement to form a joint venture to commercialize fuel cell systems for China’s telecom market. e1 is committed to China, and their rapidly growing hydrogen economy.”

Ronald Lee, CEO of Blue-G, said, “Integrating a methanol hydrogen generator into fuel cell bus systems is another technology challenge with promise to enhance fuel-cell bus applications using an alternative and convenient method of supplying hydrogen fuel. However, sophisticated control technology applied to the system is required. Through a joint collaboration program with e1, we hope to add this innovative technology and products into fuel cell deployments within two years.”