H2i Technology is pleased to announce it has manufactured its first 10 commercially-ready hydrogen injection kits locally in Victoria, which it will use to run field testing with potential customers over the next six months.
The hydrogen enhancement system H2i Technology has developed has the hardware and proprietary software to manage the injection of hydrogen into a diesel engine to significantly reduce emissions and cut fuel costs.
The Company is currently running final tests and calibrations, which are anticipated to be completed in the next 2-4 weeks.
Following this, H2i Technology will be working full steam ahead towards executing trials with five potential customers across the steel manufacturing, agriculture, construction, mining and hospitality/tourism industries.
“This is an important step forward for H2i Technology,” says H2i Technology's Chairman, David Vinson. “With potential customers from major industries already engaged, the Company is on track to secure its first revenues and deliver strong growth over the next six months.”
“Once the field trials with potential customers are complete, we are confident we will be able to convert these field testing agreements into sales contracts and begin working with customers to reduce emissions across their diesel value chain.”
The Company says successful commercial trials showed its novel technology can be retrofitted onto an engine to extend its operational life, significantly reduce emissions (up to 30%), decrease particulate matter (50%), cut fuel costs (up to 20%), and optimise efficiencies.
“We believe we can achieve commercialisation quickly as the companies we are speaking with are looking for a cost-effective, right now solution to meeting the increasingly stringent carbon emission requirements — our hydrogen injection system delivers on this.”
“We have seen a strong response from our pricing model, which is built off a 1.5-year return on investment from fuel savings. From what we have seen, this is a disruptive proposition to the market, which is a reflection of our mission to provide a commercially-viable, right now solution to the carbon challenge.”
H2i Technology believes this large market is underserviced. Since March 2022, it has had over 200 enquiries across Africa, Asia, India, the Middle East, Europe, New Zealand, and Australia, which shows there is a significant demand for its product. Research by Gordon Capital also shows there are 20 million diesel generators globally that are suitable for H2i Technology's system.
“Initially, we will be conducting field testings with clients in Australia and the Middle East, while we are also exploring other opportunities in Asia, India and North America.”
Moving forward, the Company says its key focus will be to secure more field testing opportunities and convert them to sales agreements.
Once customers have been secured, H2i Technology will begin to seek a listing on a favourable exchange to finance increasing its global expansion.
The Company has also opened a capital raise, so please reach out if wanting to participate.