Alkaline Fuel Cell Power Corporation Announces the Finalization of New Credit Arrangements and Provides an Update on the Previously Announced Private Offering

Fuel Cell Power NV Announces New Credit Facilities and Loan

Fuel Cell Power NV, a wholly owned subsidiary of Alkaline Fuel Cell Power Corp based in Belgium, has announced the closing of new credit facilities and a loan of approximately CAD $800,000. The loan was provided by Juno Financial Group Corporation, and a loan bond of a similar amount was provided by Canaccord Genuity Corp in February 2023.

The loan is expected to be used for general corporate purposes, and the repayment schedule is based on a term of 60 months. The loan is repayable in full on February 1, 2028, with an interest rate of 9.51% per annum. As collateral for the loan, the company is required to collateralize certain assets, including the CHP assets held by the company.

PWWR Flow, an Alkaline Fuel Cell Power Corp brand, is focused on the development, ownership, and operations of CHP assets in Canada. The company's CHP assets deliver efficiency improvements of over 20% with reduced costs to customers in multi-residential and commercial applications.

Fuel Cell Power NV is committed to bringing 'Power to the People', combining a stable revenue stream with a future-forward vision to commercialize advanced hydrogen fuel cell technology. The company aims to deliver a commercialized alkaline fuel cell in 2024.

Alkaline Fuel Cell Power Corp is a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech. The company encourages investors and stakeholders to follow it on LinkedIn, Twitter, Facebook, Instagram, and YouTube. Common shares of Alkaline Fuel Cell Power Corp are listed for trading on the NEO exchange under the symbol "PWWR", the OTCQB under the symbol "ALKFF", and on the Frankfurt Exchange under symbol "77R" and "WKN A3CTYF".

The company recently announced the closing of new credit facilities, but it did not proceed with the closing of the private placement previously announced on December 16, 2022. Further information about the company is available on its website at https://www.fuelcellpower.com/.

PWWR Flow has contracted existing CHP assets in Toronto, Canada, and has an additional pipeline of potential contracts valued at over $50 million currently in development. The location of the news announcement is Toronto, Canada.