Global Technologies, Ltd has provided an update on Tersus Power’s hydrogen production and dispensing station.
As Tersus Power Inc. looks to roll out its first of its kind 1250 Kg/day, hydrogen production & dispensing station can produce and dispense hydrogen onsite at a significantly lower price. It also lowers the entry barrier to the market by reducing the initial capital investment required to deploy a hydrogen fuelling station. Tersus is reducing the operational cost by reducing the total maintenance and feedstock requirements and extending the active life span of its modular system to over 15 years.
Michael Rosen, CEO and President of Tersus Power, said billions of dollars of hydrogen trucks and cars are expected to enter the market over the next 24 -36 months from incumbents (Toyota, Daimler/Volvo, Hyundai, Hyzon) and upstart Nikola. The US hydrogen market is expected to reach $130 billion by 2030 and create over 700k jobs. The lack of hydrogen fuelling stations in the US, with less than 70 stations, is a huge infrastructure opportunity, with 1,000s needed in the next 3-5 years.
Last week, Global Technologies informed shareholders that it entered into a Letter of Intent to acquire Tersus Power, Inc. Tersus Power Inc. was founded in 2020 as a contract manufacturer to build and deliver modular hydrogen fueling stations across the US and Canada. It bases its Gen3 Modular Hydrogen Fueling Station on the PowerTap PT50.