Energy Ventures and the Alberta Research Council (ARC) have reached an agreement to jointly develop and create commercial prototypes of EVI’s proprietary Direct Methanol Fuel Cell (DMFC) technology.
The joint development agreement is currently being drafted and is expected to be complete within three weeks. ARC will invest up to $3 million over a three-year period, as well as provide technical and management resources and joint space in the corporation’s Calgary facility. In return, ARC will receive common share equity and warrants in EVI.
EVI expect that their DMFC system will eliminate the need for the expensive and complicated hydrogen infrastructure that is needed by other fuel cells. The DMFC is designed to be much less expensive to build and simpler to put in service, with the result that commercialisation is forecasted to begin in approximately 24 to 30 months.
Last December, EVI entered into a development program with TDM of Flanders, New Jersey to jointly develop graphite flow plate components for use in its DMFCs.