Oct 07, 2021, 09:30 ET
CALGARY, AB, Oct. 7, 2021 /CNW/ - Innova Hydrogen Corp. ("Innova" or the "Company") announces that following the successful design, construction and testing of its prototype reactor, the Company has analyzed the outputs and has positive results to report. The Company's Hydrogen by Innova Pyrolysis ("HIP"TM) process has not only molecularly separated natural gas into hydrogen and graphite, but further analysis has confirmed that there is also highly valuable graphene present.
Innova's HIPTM process uses methane and heat inputs along with confidential catalysts and porous materials, while using no water or oxygen inputs. The outputs yield pure hydrogen, graphite and graphene with absolutely NO carbon dioxide emissions.
Following initial testing and analysis of hydrogen samples at the University of Alberta using its gas chromatography equipment, independent third-party results were submitted to a laboratory in Edmonton, Alberta which confirmed that high-purity hydrogen was produced through a permeable barrier.
Analysis of the solid carbon products was recently performed at the University of Alberta using X-ray diffraction, electron microscopes and Raman spectra analysis which confirmed the presence of both graphite and graphene (see figure 1). This has major significance to the value-add chain, including lowering the Company's per unit hydrogen cost when capturing this additional revenue stream. Graphite and graphene are highly valuable materials used in a wide range of applications such as batteries, solar cells, biomedical devices, electronics, superconductors, construction materials, sporting goods, clothing and aerospace, to name just a few.
Figure 1: Innova Sample Graphite and Graphene Molecules at 11,510 Magnification
Plans for Innova's prototype optimization and lab pilot along with the marketing of Innova's technology to strategic financial investors, industry partners and customers continue to advance. Various materials have been procured and modeling is under way to enhance the already successful initial lab prototype. An updated presentation including Innova's path forward will be made available on the Company's website at www.innovahydrogen.com.
Brian Alford, President & CEO, commented, "The results obtained over the past few weeks validate Innova's strategy to become a leader in the pursuit and development of best-in-class, low cost, clean hydrogen technology. We are producing pure hydrogen and valuable graphite and graphene with zero carbon emissions."
About Innova Hydrogen Corp.
Innova's vision is to develop zero-emission, clean energy technologies to produce carbon-free hydrogen energy and high-quality, high-demand by-products.
Innova's revolutionary, proprietary HIPTM technology transcends existing carbon-emission processes currently used within the energy sector by creating valuable products with zero carbon emissions: high-purity hydrogen gas and customizable, tailor-made graphite/graphene.
Innova's current intellectual property includes patent pending technology for hydrogen and graphite/graphene production, which will be relied upon to support a global patent protection strategy, and a roadmap for additional proprietary advancements in clean energy technology.
For more information about the Company, please refer to the Company's profile on SEDAR at www.sedar.com.
Forward-Looking Statements and Information
This news release contains certain forward-looking statements and forward-looking information (collectively, "forward-looking statements"), including forward-looking statements within the meaning of the "safe harbor" provisions of applicable securities legislation, that are based on Innova's current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. All statements other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as "expects", "will", "would", "anticipates", "plans", "estimates", "develop", "intends", "potential", "continue", "could", "create", and similar expressions suggesting future events or future performance.
In particular, this document contains forward-looking statements pertaining to, without limitation: the expected use of the net proceeds of the Private Placement; Innova's vision, operational strategies, future plans and the development of its technologies, including Innova's proprietary HIPTM technology and management expectations related thereto.
These forward-looking statements are based on certain expectations and assumptions that Innova has made in respect thereof as at the date of this news release regarding, among other things: that favourable circumstances continue to exist in respect of planned operations and current and future growth projects, including Innova's HIPTM technology; demand for low-emission technologies; the availability of capital to fund the Company's future capital requirements; prevailing regulatory, tax and environmental laws and regulations; the development of Innova's processes and technologies (including Innova's HIPTM technology) in a manner that is consistent with management expectations in relation thereto; prevailing commodity prices (including with respect to hydrogen and graphene), interest rates and tax rates; future operating costs; the availability of, and ability of the Company to secure, government incentives and grants; and that all required regulatory approvals can be obtained on the necessary terms in a timely manner.
Although Innova believes the expectations and assumptions reflected in these forward-looking statements are reasonable as of the date hereof, there can be no assurance that these expectations and assumptions will prove to be correct. These forward-looking statements are not guarantees of future performance and are subject to a number of known and unknown risks and uncertainties including, but not limited to: the failure to realize the anticipated benefits of Innova's technologies (including Innova's HIPTM technology); material cost-overruns in respect of the development of Innova's technologies (including Innova's HIPTM technology) or any material delay in relation thereto; adverse changes in general economic and market conditions, demand for Innova's products, future hydrogen production rates and/or prices, the prevailing regulatory environment and/or overall industry activity levels; adverse actions by governmental or regulatory authorities; risks relating to the current and potential adverse impacts of the COVID-19 pandemic; a failure to achieve the anticipated results of operations in relation to Innova's business initiatives; and an inability to access various sources of debt and equity capital.
The foregoing list of risk factors should not be construed as exhaustive. Readers are cautioned that events or circumstances could cause results to differ materially from those predicted, forecasted or projected. The forward-looking statements contained in this document speak only as of the date of this news release. Innova does not undertake any obligation to publicly update or revise any forward-looking statements or information contained herein, except as required by applicable laws. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
SOURCE Innova Hydrogen Corp.
For further information: Brian Alford, P Eng, President & CEO, [email protected]; Kamelia Giles, VP Finance & CFO, [email protected]
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