Go big or go home. AmmPower Corp (CSE: AMMP) appears to be taking the cliche to heart, announcing this morning they have begun development on an ammonia production unit that can produce 4 metric tons of green ammonia on a daily basis.
The unit, referred to as the IAMM, or independent ammonia making machine, will be targeted towards distributors and retails of anhydrous ammonia, which is used within fertilizer markets. The company is currently targeting a price tag between $3.0 million and $3.5 million per unit, with the first such units expected to be available by late in the third quarter of this year.
Furthermore, discussions with potential customers have already begun, with the firm highlighting that it brings control of the production process closer to the end user.
““The market has been extremely receptive to the concept of distributed ammonia production. The targeted pricing of the unit is intended to be disruptive and will represent an economically feasible solution for our intended customer base,” stated Eric Kelley, whom is Director of Sales and Marketing, Agriculture for the company.
The development of the product comes as the firm nears the final assembly of its demonstration unit for green ammonia synthesis, which has a capacity of 50 kilograms a day. The tech behind the unit is said to be scalable, and will be implemented into the larger IAMM product being developed.
AmmPower Corp last traded at $0.54 on the CSE.
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