Independent analysts, Gordon Capital, have reviewed opportunities for H2i Technology's
hydrogen enhancement system and have found a significant addressable market for its product.
Overall, the research showed there are 20 million diesel generators worldwide that are suitable for its attachable kit, which has proprietary software to manage the injection of hydrogen into a diesel engine to significantly reduce emissions and fuel costs.
"H2i made a strategic decision in 2022 to target stationary diesel engines, as it provided the quickest avenue to getting our product to market. We are pleased to see our go-to-market approach validated by independent research and believe we are strongly placed to optimise the significant opportunity at hand," says H2i Technology Chairman, David Vinson.
The Company believes the market for bridging technology is untapped and presents a large opportunity, with demand for H2i's technology reflected in the 200-plus enquiries it has received across Africa, Asia, India, the Middle East, Europe, New Zealand, and Australia, since March 2022.
"It is inevitable that regulations surrounding carbon emissions become increasingly stringent, which will create challenges for businesses that need access to the capital required to manage the transition," says Gordon Capital Director, Michael Gordon. “H2i provides a cost-effective avenue to meeting emissions regulations for an extensive section of the market which is currently underserviced."
H2i Technology is currently manufacturing ten commercial-ready hydrogen enhancement systems via its production partner in Victoria, which it plans to use to run trials with potential customers across the steel manufacturing, agriculture, construction, mining and hospitality/tourism industries.
The units are due to be ready in July, with field testing planned to commence with potential customers over the second half of 2023. Testing showed the system 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.
"Once the on-site testing is completed over the next six months, we are confident we will be able to convert these field testing agreements into sales contracts and begin working with customers to decarbonise their diesel value chain," says David Vinson.
"We believe we can achieve commercialisation quickly as the companies we are speaking with are looking for a right now, cost-effective solution to reducing emissions — our hydrogen enhancement system delivers on this."
With units for stationary generators ready for market, the Company says its system can also be attached to some off-road vehicles, depending on the engine.
As part of its growth strategy, H2i will further develop the technology for on-road vehicles and LPG, LNG, CNG, and petrol engines, which will increase the Company's addressable market and profitability.
The Company is opening a capital raise, so please reach out if wanting to participate.