TORONTO, Feb. 06, 2023 (GLOBE NEWSWIRE) — AmmPower Corp. (CSE: AMMP) (OTCQB: AMMPF) (FSE: 601A) (the “Company” of “AmmPower”) is pleased to announce the appointment of Greg Barranger to the position of Vice President of its Independent Ammonia Making Machine™ (“IAMM™”) Division, effective February 2, 2023.
As General Manager of the IAMM™ Division, Mr. Barranger has led his team to design AmmPower’s innovative, 4 metric ton per day, green ammonia IAMM™ unit (the “IAMM™ Unit”). As part of the process, Mr. Barranger and his team has also designed, built and tested a smaller ammonia production unit in order to validate the small production unit concept. This was accomplished in approximately a year and a half. Creation of the IAMM™ Unit will establish AmmPower as the global leader in small, modular, economically feasible and decentralized green ammonia production products & technology. AmmPower has patents pending for several aspects of the IAMM™ Unit design.
“Mr. Barranger has done an outstanding job of bringing the IAMM™ Unit product to life. The IAMM™ concept of economical, distributed, green ammonia production is a major disruptor in the way ammonia is produced and transported,” stated Dr. Gary Benninger, AmmPower CEO and Executive Chairman.
The target market for AmmPower’s IAMM™ Units are independent distributors and retailers of anhydrous ammonia used for fertilizer. However, AmmPower has recently received numerous inquiries from industry looking for ways to bring the ammonia production in-house. AmmPower is anticipating the delivery of IAMM™ Units later this calendar year.
On Behalf of the Board of Directors
Gary N. Benninger, Ph.D.
Chief Executive Officer
About AmmPower
AmmPower is a clean energy company focused on the production of green ammonia. The Company is based in Toronto, Ontario, with a research and manufacturing facility in Southeast Michigan. The Company is active in all facets of green ammonia production, including the production of green fertilizers, carbon free shipping fuel, and the ‘cracking’, or moving of green hydrogen as ammonia. The Company is working on the development of proprietary technologies to produce green ammonia and green hydrogen at scale, including the investigation of unique catalytic reactions to bring down costs and to take advantage of carbon credits in the renewable energy space. AmmPower currently holds several LOIs with ports in Brazil, the United States, and is currently completing its IAMM™ prototype to create green ammonia for the agricultural industry. The Company also holds a lithium exploration property in the James Bay/Eeyou Istche region of Quebec and an option on the Titan Property located in Klotz Lake area in Northwestern Ontario.
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Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. In certain cases, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “achieve”. Forward-looking statements in this news release may include, but are not limited to, creation of the IAMM™ Unit establishing AmmPower has a global leader, the design of the IAMM™ Unit and delivery of IAMM™ Units.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward- looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cf22c573-7ff0-444f-a171-bdab28255d9a
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