The first system from HPS Home Power Solutions, picea, is the first solar hydrogen system for homes and the first year-round power storage system on the market. Picea offers power supply, energy storage, heating support, and home ventilation in one compact product. Based on its own efficient energy management system, picea completely covers the electrical energy needs of a single-family home throughout the year.
In addition, the waste heat generated is supplied to the house as heating energy, thus reducing heating costs. Thanks to the use of hydrogen, picea offers a hundred times more storage capacity than standard batteries. Thus, picea enables energy-efficient, self-sufficiency, and independence from the grid.
The energy generated on sunny days with a photovoltaic system can either be used immediately or converted into hydrogen and thus stored. The stored energy can be retrieved at night or during the winter months when there is little sunshine because the integrated fuel cell converts the chemical energy stored in the hydrogen back into electrical energy and heat as needed.
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Enormous market potential for CO2-free home storage systems based on hydrogen
The market for energy storage solutions in the building sector is growing, driven by the desire for independence and a truly CO2-free energy supply. The German government’s national hydrogen strategy, the EU hydrogen strategy and the European Green Deal have also contributed to a very positive development of the market environment. Picea brings green hydrogen to the building sector and makes hydrogen technology and energy carrier usable for the home.
Hydrogen is increasingly seen as a key technology for the energy turnaround. Not only political support is growing. Public perception has improved significantly and has reached the energy customer in the home: hydrogen is increasingly becoming a symbol for a CO2-free, climate-friendly future.
“Picea offers households the opportunity to take control of their own electricity supply all year round and independent of the grid, and completely emission-free,” Mr. Abul-Ella continued. “In Germany alone, 36% of the population lives in single or two-family homes. If we add other European markets, we estimate that there is a potential of up to 1.5 million storage systems in the private household segment”.
The direct sale of picea has now started
HPS was able to establish partnerships in all other planned distribution channels. Marketing and sales as well as the operative business with manufacturing, installation and service including the corresponding infrastructure were initially established and will be successively expanded.
“Despite the renewed lockdown, our operative business continues to run. The first operational teams are already setting up picea systems at end customers throughout Germany,” explained Mr. Abul-Ella. “We have digitized our sales processes to prepare them for future growth. As a first mover, we have a clear advantage in the market. We have further secured our lead with new, international patent applications and will continue to expand it.”
In the production of the picea system HPS cooperates with well-known companies and has thus established a crisis-proof supply chain: For example, the Bavarian-based company Zollner Elektronik AG has been won over for the serial production of piceaThe Canadian company Ballard Power Systems supplies the stacks for hps’ own fuel cell modules. picea is already installed at several locations. Previously, pilot plants in various German regions provided valuable data and practical experience in several field tests.
HPS launched a crowdfunding campaign
In order to finance further growth, HPS launched a crowdfunding via the GLS Crowd platform on November 3rd. There, private investors have the opportunity to support a pioneer in the market of hydrogen-based energy supply systems for private households with their investment and receive a lucrative return of 7% on the capital provided.
A total volume of $4.72 million (€4 million) is planned for the current crowdfunding campaign, of which more than $2.12 million (€1.8 million) were subscribed after only 6 days. HPS intends to use the raised capital to strengthen sales, marketing, and production capacity.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in DGAP.DE, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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