Sprintex to support hydrogen fuel cell market with clean energy business, partners with global player Aeristech
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Sprintex has made rapid progress in China, and the agreement with Aeristech is a major transformative step towards its entrance into the hydrogen and clean air markets.
Sprintex Limited (ASX: SIX) has just flagged an expansion into hydrogen fuel cells in electric vehicles and fuel cell power generators, with its new electric compressor business in China.
The company also announced a strategic collaboration agreement with leading global tech firm, Aeristech.
This new development in China follows the opening of its 1,500 sq metre manufacturing facility in the country, announced in June.
Since opening the facility, Sprintex has rapidly developed several electrical compressor (eCompressor) platforms.
These air compressors will feature both Aeristech and Sprintex’s proprietary IP-protected designs, and can be used on hydrogen fuel cell electric vehicles.
“An air compressor is an essential part of the fuel cell system to boost adequate oxygen into stack and makes the system more efficient for generating electricity” explained Jay Upton, CEO of Sprintex.
They can also be utilised in industrial turbo blowers for clean air supply and wastewater treatment aeration, as well as multi-stage industrial compressor sets.
The agreement with Aeristech will facilitate Sprintex’s penetration into the high-growth and lucrative hydrogen energy and clean air markets.
Under the deal, Sprintex will utilise its expertise in turbomachinery and air bearing to fast-track development of a range of eCompressors, based on Aeristech’s advanced electric motor and controller technology.
It will then manufacture and supply these eCompressor products to Aeristech under a sales agreement.
“This strategic collaboration will stimulate the excellent synergy between the two companies on product development, global resources for supply chain and sales,” Upton commented.
“Sprintex aims to offer the most competitive products to the surging electrification, hydrogen fuel cell and next-gen industrial compressor market.”
“Sprintex and Aeristech are confident that under this collaboration, both parties will accelerate the expansion of market coverage and the realisation of revenues leading to profits.”
Richard Wall, Executive Chairman of Aeristech, said: “We are delighted to initiate this partnership with Sprintex.
“The addition of the engineering resources of Sprintex to our team will help to accelerate product development in key power ranges.
“Sprintex commercialisation resources will bolster our revenue growth particularly in the Asian markets. We are very excited with this opportunity to boost our revenue growth in the fast growing hydrogen fuel cell market, key to achieving global emissions reduction and the deceleration of climate change.”
Sprintex’s eCompressors feature contactless air bearings, carbon fibre and ceramic rotor, as well as a water-cooled unibody motor.
They will possess numerous attractive product features, which are anticipated to be highly sought after by customers.
Amongst the many features, the new compressor is able to spin from idle to maximum speed of 160,000rpm in less than 1 second.
It has also achieved a 30% reduction in size and weight compared with other high-speed current compressors in the market.
As announced in June, the Suzhou facility in China is currently being built, and when completed will be able to handle an annual capacity of up to 50,000 eCompressor units.
First production samples are scheduled for October, and will coincide with the opening of the facility.
Sprintex will supply the 6kW, 10kW and 25kW models to Aeristech in Q4 2021. These eCompressors will be delivered to several leading automotive customers via Aeristech by the end of 2021.
Aeristech will order products under an agreed price structure for quantities from 100 units to over 10,000 units, but there is no agreement on future purchase orders.
“Sprintex has committed to launch and produce 6kW to 25kW eCompressors by the end of 2021, covering the majority of fuel cell systems in the market ranging from 30kW to 150kW,” says Upton.
“This product range is ideal for passenger and commercial fuel-cell electric vehicles, non-road machinery and stationary generator sets.”
In addition, Sprintex will collaborate with Aeristech’s industrial air division to produce industrial turbo blowers for clean air supply.
These turbo blowers are to be used in manufacturing, food and medicine, ventilation, and environmental applications such as wastewater treatment.
The blowers will be powered by Aeristech’s state-of-the-art motor controller, and will feature advanced cooling and soundproofing.
They will also include monitoring and software control to deliver great efficiency and user-friendly features for the user.
These high-speed turbo blowers typically save over 30% of electricity cost for the end users, when they upgrade from traditional blowers, according to Sprintex.
This article was developed in collaboration with Sprintex, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.