Most back-up power sources today are reliant on diesel generators – a technology that is decades old. Virtually every market segment that requires back-up power is using diesel generators, however, they are unreliable and cannot endure harsh conditions. Burning one liter of diesel emits around 2,7kg of CO2. There are millions of diesel generators worldwide and they contribute to a great deal of pollution. Diesel generators are often combined with lithium batteries for energy storage, which are heavy, discharge quickly and have long recharging times.
We believe there is a lack of viable (green) alternatives to diesel generators which is why markets have not transitioned to renewable energies, yet. We found out the pain points related to diesel generators and decided to develop a clean energy source that would also tackle most disadvantages of other solutions. To achieve carbon neutrality, it is important to offer clean energy solutions for all markets. This is what we have started by bringing to the market the first fuel cell based generator that works on pure hydrogen gas. Besides being environmentally friendly, it is also silent, compact, lightweight and maintenance-free. It is designed to replace diesel generators and heavy lithium batteries.
The first objective of the project is to gain insight into different target markets and create a pricing strategy for these markets. We need to obtain a better understanding of customer needs. Fuel cell technology has been inefficient and expensive, but this is changing and fuel cells are a viable option for many application these days. The second objective is to map out hydrogen network. Without a decent supply of hydrogen it will be very difficult to sell our generators. There has been a tremendous increase in hydrogen supply and availability worldwide and the pioneering companies are USA, Germany, Japan and South-Korea. Many hydrogen initiatives have been raised throughout Europe such as H2 Mobility, Hydrogen Europe and more. This signifies the importance of hydrogen and fuel cells in our future. The third objective is to perform commercial exploitation study as a preparations for patent filing. There are at least 2 patents that PowerUp plans to file in 2020. The fourth objective is to raise commercial readiness level by performing partner search, market entry strategy, conducting sales development plan and financial plan.
