Pitch
H2MOVE uses hydrogen as a fuel additive in order to reduce the fossil fuel usage in industrial boilers and generators in Cyprus. Hydrogen derives from water electrolysis and results in 30% reduction on fossil fuel consumption and 35% reduction of air pollutants (SO2, CO, CO2 and PM). A fully functional prototype has been successfully implemented in boilers and generators in Cyprus. H2MOVE uses unique materials, requires no hydrogen storage and the electricity demand is negligible. The hydrogen engine costs €55,000 and the customer payback period is 1,5 years. The margin/year is estimated to be €2,2 million covering 25% of the Cypriot market. H2MOVE expects to have more than 1000 customers by 2020 and get into global market in less than 10 years. Collaborations: generator/boiler owners in Cyprus, the Cyprus Shipping Chamber, Louis cruises, MAN Switzerland (confidentiality agreement).
