- Current Water (WATR) has filed a provisional patent application for its AmmEl-H2 hydrogen generation system
- Its AmmEl-H2 technology generates hydrogen gas while simultaneously removing toxic ammonia from wastewater
- The company hopes to develop a presence in the green hydrogen market, which is expected to reach US$2.3 billion by 2027 (Grand View Research)
- Current Water offers wastewater treatment and pump station manufacturing
- Current Water Technologies (WATR) closed up by 22.22 per cent trading at $0.055 per share
Current Water (WATR) has filed a provisional patent application for its AmmEl-H2 hydrogen generation system.
Its AmmEl-H2 technology generates hydrogen gas while simultaneously removing toxic ammonia from wastewater. This process differs from traditional electrolyzers, which operate for the sole purpose of producing hydrogen gas, thus unlocking an additional revenue stream.
The application with the U.S. Patent and Trademark Office establishes an early effective filing date and allows Current Water to ascribe the phrase “patent pending” to any commercial products, methods or services contemplated by the subject matter therein.
The company plans to submit individual national-stage patent applications in select international jurisdictions.
According to Grand View Research, the global green hydrogen market was valued at US$786.9 million in 2019 and is expected to reach US$2.3 billion by 2027.
Goldman Sachs Global Investment Research, European Commission, estimates that the global green hydrogen market will reach US$13 trillion by 2050.
Dr. Gene Shelp, Current Water Technologies’ CEO, stated,
“During the past year, Current Water has leveraged its technical endowment into pursuing new markets and business opportunities. One of the most exciting opportunities is green hydrogen.
The company’s goal is to convert costly municipal wastewater treatment facilities into profit centers by converting the ammonia into environmentally friendly nitrogen gas and pure fuel-cell-grade hydrogen gas. Due to the ubiquity of wastewater treatment plants around the globe, our vision is to convert these facilities into energy storage centers − vital components in the future electrical grid.
These locally-created energy storage centers would facilitate the transition of municipal fleets from conventional internal combustion engine vehicles to more efficient hydrogen-powered fuel-cell electric vehicles. In contrast to conventional internal combustion engines, fuel-cell electric vehicles do not generate exhaust pollutants and therefore can dramatically improve the poor atmospheric conditions plaguing major cities globally.”
Current Water offers wastewater treatment and pump station manufacturing.
Current Water Technologies (WATR) closed up by 22.22 per cent trading at $0.055 per share.