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Ammpower Corp. Completes Acquisition Of 50.05% Of The Common Shares Of Progressus Clean Technologies, Inc.

Jan 09, 2023•almost 3 years ago

Acquiring Company

AmmPower Corp.

Acquired Company

50.05

TorontoRenewable EnergyAgriculture and FarmingManufacturingEnergy

Description

AmmPower Corp. (CSE:AMMP, OTCQB:AMMPF, FSE:601A) (the "Company" or "AmmPower") is pleased to announce, further to its news release dated December 30, 2022, that it has completed the acquisition (the “Acquisition”) of 50.05% of the issued and outstanding common shares of Progressus Clean Technologies, Inc. (“Progressus”), from certain former shareholders of Progressus (the “Vendors”).

Company Information

Company

AmmPower Corp.

Location

5 HAZELTON AVENUE

Toronto, Ontario, Canada

About

AmmPower is a clean energy company focused on the production of green ammonia. The Company is based in Toronto, Ontario, with a research and manufacturing facility in Southeast Michigan. The Company is active in all facets of green ammonia production, including the production of green fertilizers, carbon free shipping fuel, and the ‘cracking’, or moving of green hydrogen as ammonia. The Company is working on the development of proprietary technologies to produce green ammonia and green hydrogen at scale, including the investigation of unique catalytic reactions to bring down costs and to take advantage of carbon credits in the renewable energy space. AmmPower currently holds several LOIs with ports in Brazil, the United States, and is currently completing its IAMMTM prototype to create green ammonia for the agricultural industry. The Company also holds a lithium exploration property in the James Bay/Eeyou Istche region of Quebec and an option on the Titan Property located in Klotz Lake area in Northwestern Ontario.

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M&A Insights

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Integration timeline
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Post-acquisition investment
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