Business
Technology Update, Board Changes & Establishm...
Technology Update, Board Changes & Establishm....
About this update from Energy B Plc
[{"type":"text","content":"\n\n \n \n\n\n\n\n24 May 2023Hydrogen Future Industries plc (\"HFI\" or the \"Company\") Technology Update, Board Changes & Establishment of Advisory Board Hydrogen Future Industries plc (AQSE: HFI), a developer of a proprietary wind-based green hydrogen production system, is pleased to provide an update on the complementary components of the system under development, alongside other corporate updates. Technology Update As announced on 28 April 2023, HFI expects to shortly commence a third and final testing phase of an upgraded version of the 1 metre diameter wind turbine. The upgraded wind turbine will be used to measure the energy output over an 8 to 12 week period before work commences on a larger diameter commercial wind turbine. The data gained from the performance of the wind turbine will be compared to the wind tunnel results and used in the design of the larger diameter wind turbines. HFI has established a facility in Birmingham, UK, where work is ongoing to incorporate the variable hydraulic drive and/or electro-magnetic clutch, which are part of the patents acquired and announced on 5 October 2022, to increase efficiency and lower the cost of energy production. The concept testing of an electrolyser for the hydrogen production system is currently taking place in California, USA, led by quantum-physicist, Dr Nicholas Blake, a consultant to HFI and brother of Timothy Blake (Chief Executive Officer of HFI Energy Systems Limited, the Company's wholly owned development subsidiary and director of the Company's joint venture subsidiary, HFI IP Holdings Limited). The objective of the testing is to build an electrolyser with cheaper and more readily available materials that improves power efficiency and longevity. Board Changes Effective immediately, Daniel Maling, currently Non-Executive Chairman, will become Executive Chairman, taking on primary managerial responsibility for the Company. David Ormerod, currently Executive Director, will become a Non-Executive Director, allowing him to focus on other commitments while enabling the Company to continue to benefit from his significant energy industry expertise. Advisory Board The Company has formed a new hydrogen advisory board (\"Advisory Board\") to advise HFI's Board of Directors and review additional hydrogen-relat...