WINDSOR, CT / ACCESSWIRE / August 27, 2024 / Infinity Fuel Cell and Hydrogen, Inc. announced today it has been awarded a major new fuel cell development contract as a next step to full production of UUV power systems. Under this effort, Infinity will test and deliver complete modular Beta versions of its patented and proprietary power systems suitable for use with varying size underwater applications and missions.
This contract, with an unnamed commercial customer, delivers modular products that will tap into a rapidly growing market. Fortune Business Insight's recent study projects the market for UUVs to grow from $3.2 billion in 2023 to over $8 billion by 2032, at a cumulative annual growth rate (CAGR) of over 13%.
Infinity's patented air-independent UUV fuel-cell systems support extended mission operations before refueling. This provides major advantages in the form of substantial cost savings for extended commercial missions, and tactical and logistical advantages for military missions.
"This represents an important step toward our modular product line in a market that has the potential to be very substantial for us over the next few years," said William F. Smith, CEO and founder of Infinity.
About Infinity: Founded in 2002, Infinity Fuel Cell and Hydrogen, Inc. is a market leader in the design and manufacture of air-independent, zero gravity electrochemical systems including fuel cell systems for space and underwater applications. Infinity is also developing electrolysis technologies that can generate hydrogen and oxygen directly at 2000 psi and above.
Investment Opportunity
Infinity is currently raising capital to commercialize its product line and grow faster. The company has a Regulation CF offering online where even non-accredited investors can participate. To read the company's Offering Circular, and INVEST, CLICK HERE.
For more information contact: Mr. Richard Mullins, rmullins@infinityfuel.com
M (860) 637-4344 or Infinity (860) 688-6500 Web site: http://www.infinityfuel.com
® Infinity is a Registered Trademark of Infinity Fuel Cell and Hydrogen, Inc.
SOURCE: Infinity Fuel Cell & Hydrogen, inc.
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