Element 1 Corp., TYCROP, and H2 Portable Sign MOU to Advance Hydrogen Power Solutions

BEND, Ore.--(BUSINESS WIRE)--Element 1 Corp., a leading developer of advanced hydrogen generation technology, TYCROP Manufacturing Ltd, a North American leader known for bringing to life innovative industrial equipment solutions, and H2 Portable Power Corp., a pioneer in advanced hydrogen-electric solutions for mobile and industrial power applications, are pleased to announce the signing of a Memorandum of Understanding (MOU) to collaborate on the development and commercialization of innovative hydrogen fuel solutions.

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Under the terms of the MOU, the three companies will leverage their respective expertise to accelerate the design, manufacture, and sales of hydrogen-based power generation technologies. Element 1 Corp. will provide its methanol-steam reforming and hydrogen purification processes, while TYCROP and H2 Portable will contribute engineering, product development, and manufacturing capabilities to integrate these technologies into portable and scalable power generation solutions.

Key Objectives of the Collaboration:

1. Development of Portable Power Generation and Hydrogen Fueling Solutions: The partnership aims to create portable hydrogen fuel-cell systems that can be used in a variety of applications, including remote power generation and emergency backup power, as well as mobile hydrogen fueling stations.

2. Accelerate the adoption of hydrogen power solutions: By integrating Element 1’s methanol-steam reforming processes on-board H2P’s hydrogen-electric power solutions, the partnership aims to bridge the gaps in the adoption of hydrogen clean power solutions where gaseous hydrogen is not abundantly or cost effectively available.

3. Commercialization and Market Expansion: The collaboration will focus on bringing these innovative solutions to market, targeting industries such as transportation, construction, stationary power, and emergency services.

4. Sustainability and Environmental Impact: By promoting the use of methanol to hydrogen as a practical and easily adoptable clean energy source, the partnership is positioned to support global sustainability goals.

The partnership envisioned by the MOU will enable H2 Portable to enhance an already existing partnership with TYCROP, in which TYCROP designs, engineers, and manufactures products on behalf of H2 Portable, by incorporating Element 1 Corp. technology as a part of H2 Portable product offering. Specifically, the partnership will enhance and support H2 Portable presence in two vertical markets:

• Rubber tire gantry (“RTG”) cranes; and

• Mobile electrical generators for the movie and construction industries.

By incorporating Element 1 Corp. technology, the collaboration will enable TYCROP to design and manufacture next-generation hydrogen electric generators for H2 Portable, become a contract manufacturer under ‘preferred partner’ status to Element 1 Corp., as well as supplying other 3rd party customers. An already dominant player in the gas-fired power generation system design and manufacturing, TYCROP is uniquely positioned to become a powerhouse in the quickly expanding universe of low carbon and carbon emission-free electrical generator manufacturing space, as more companies travel down the road to decarbonization and seek solutions for clean grid-independent power.

Dr. David Edlund, CEO of Element 1 Corp., stated, “We are excited to partner with TYCROP and H2 Portable to advance the adoption of hydrogen and fuel cell technologies. This collaboration represents a significant step towards a sustainable energy future.”

Scott Mason, President & CEO of TYCROP, added, “At TYCROP, we have always been firm proponents of 'collaboration from the start,' and this partnership between three leading experts in their respective fields is no exception. By integrating Element 1’s proven technology into H2P’s revolutionary product solutions through TYCROP’s established product design and development process, we create significant value for all stakeholders. Most importantly, this collaboration provides customers a practical and viable path towards clean energy solutions.”

George Rubin, Director of Commercial Operations of H2 Portable, commented, “This MOU marks the beginning of a powerful alliance that will drive the commercialization of portable hydrogen fuel systems, providing clean and reliable energy solutions for various industries.”

Element 1’s unique technology, which produces on-site, on-demand, 99.99% pure hydrogen for fuel cells, serves a wide range of applications that are difficult to decarbonize. The cooperation envisioned in the MOU will commence with two projects:

• A pilot hydrogen refueling system for H2 Portable is based on three S-130 hydrogen generators supplied by Element 1. Target completion date is the end of Q4, 2024.

• Development of a North America codes and standards-compliant design for the containerized power generator CPG150 product, for which a CE-compliant model already exists. Target completion date Q4 2024.

Furthermore, the MOU contemplates coordination of go-to-market activities to minimize sales channel conflict, while at the same time protecting each party’s existing investment in product design and current market position.

About Element 1 Corp.

Element 1 Corp. is a leading developer of advanced hydrogen generation technology, specializing in the design and production of on-site, on-demand methanol-based hydrogen generators for fuel cells and electric power generation.

About TYCROP

TYCROP Manufacturing Ltd, established in 1978, is a leading manufacturer of innovative equipment serving diverse industries including industrial electrification, power generation, renewable energy, oil & gas, agriculture, waste & recycling, forestry, shipbuilding, mining, and construction. Committed to the principles of “Clean Air, Clean Water, Clean Energy,” TYCROP is dedicated to advancing sustainable equipment solutions.

About H2 Portable

H2 Portable is trailblazing the frontier in clean energy through hydrogen-electric Advanced Power Systems for industrial markets around the globe seeking to decarbonize their operations. Offering immediate solutions for rubber tire gantry cranes and mobile electrical generators for the movie and construction industries.