Press release -
Blue World Technologies upgrades production facilities to match growing demand
Dansk version af pressemeddelelsen kan findes som relateret indhold / 请在这里查看相应中文版 / Please find Chinese and Danish versions as related content.
The methanol fuel cell developer and manufacturer has taken over an 8,500 m2 production building on the Port of Aalborg, which has the capacity to commercialise Blue World Technologies’ methanol fuel cell technology.
Ever since Blue World Technologies saw the light of day in 2018, the aim has been to commercialise the methanol fuel cell technology through large-scale production providing a green alternative to combustion engines and generators for industries around the world. Therefore, the company has been on a search for the right production facilities. Several options have been in play, and with an advantageous offer to take over an 8,500 m2 production building at Langerak 15A on the Port of Aalborg, Denmark, the last piece of the puzzle has fallen into place.
“Sometimes opportunities arise that cannot be passed, and this was one of them. We are very pleased that we have now found the right location for us to set up – to our knowledge – the largest methanol fuel cell factory in the world”, says CEO and Co-founder, Anders Korsgaard. “This location does not only provide the space to scale-up our fuel cell component production to match the market demand, especially within the heavy-duty transportation sector, but it also covers the need for all of our project activities”.
In late 2020, when Blue World Technologies announced the closing of a successful investment round, it was also announced that the company was taking over a production building at the Port of Aalborg. This was a newly constructed building of 2,000 m2 that would act as a stepping stone providing the possibility to set up production with an annual capacity of up to 5,000 fuel cell units. With a growing order book, Blue World Technologies knew that more space would be required within a short time frame, so when a last-minute offer came to take over a building four times the size, a lease agreement was quickly finalised.
The upgrade to a production building of 8,500 m2 is a cost-efficient solution as it not only meets Blue World Technologies’ requirements for the first serial production but also for further scale-up that is planned for the coming years all in one location. The building was taken over on 1 February 2021, and production equipment for core fuel cell components such as membrane and electrode for the MEA (membrane electrode assembly) will be installed within the first half of 2021.
Growing demand for green alternatives
The reason for Blue World Technologies’ requirement for a large production building with space for scale-up lies in the companies large order book that holds orders worth a significant double-digit million euro amount. Worldwide, the focus on alternative energy technologies is increasing enormously and this shift towards a more renewable future has a positive impact on the Danish developer and manufacturer of methanol fuel cells in terms of interests from customers around the world within different industries.
The initial production will have a capacity of up to 5,000 fuel cell units per year, and the production in the new production facilities is planned to start in mid-2021 as a pre-series production. Therefrom, Blue World Technologies is expected to continue upscaling the production with an aim to reach a full-scale commercial production capacity of 50,000 fuel cell units per year within the next three years.
Blue World Technologies is an ambitious and visionary developer and manufacturer of methanol fuel cell components and systems for stationary/APU applications and the automotive and heavy-duty transportation sectors around the world. The fuel cells act as a green alternative to combustion engines and diesel generators. As a part of the Power-to-X eco-system the methanol fuel cell technology contributes to solving parts of the green transition which cannot be solved by direct electrification and battery technology alone.
The exclusive fuel for Blue World Technologies’ fuel cell systems is methanol – a renewable liquid fuel that simply and cost-effectively can be stored for years and transported around the world while reusing existing infrastructure.
Blue World Technologies is founded on extensive experience from the fuel cell industry and aims towards commercialising the technology through large-scale production. The company is focused on the High-Temperature PEM-technology combined with methanol-reforming. The combination ensures a simple system design with high conversion efficiency and significant benefits including CO2 reduction, fuel cost savings, and zero harmful emissions.
In December 2020 Blue World Technologies closed its most recent investment round of 6.4 mEUR and is aiming at a future Initial Public Offering.