Friends and Investors:
Q1 of 2026 was a period of great strides for Infinity. Building on the important developmental progress of 2025, we achieved a breakthrough underwater milestone on the path to the launch of our first off-the-shelf product. And, in the space market, we added a third commercial space company to our ongoing partnerships to provide power and life support products. These include regenerative fuel cell (RFC) systems to power lunar surface missions and electrolyzers to provide life support oxygen aboard low earth orbit space stations. Importantly since the start of 2026 we have received over $5 million in purchase orders.
Specifically:
–Infinity and Cellula Robotics, through our Nautigen joint venture partner, achieved a major UUV milestone powering a 2000 km continuously submerged swim of a Cellula Robotics Envoy class unmanned underwater vehicle (UUV). We believe this is a world record for continuously submerged operation of any fuel cell powered UUV and nearly a world record for any type of continuously submerged UUV operation. We believe it is a major leap forward in UUV capability.
–Under the JV referenced above, Infinity is Nautigen’ s and Cellula’s guaranteed sole source for all fuel cell power plants.
–In other UUV news Infinity received a major fuel cell purchase order from Nautigen in support of Cellula Robotics U.S Navy DIU Camp program. For a different, but related, UUV program Infinity received another fuel cell powerplant purchase order from Cellula Robotics.
–Planning continued for the spend of the $2.2 million first phase of the $13 million JV agreement forming Nautigen. This funding will support further technical advancements, production readiness and cost reduction.
–At NASA, RFCs moved into the spotlight as the NASA Ignition event announced restructuring of the Artemis program. Among the many
changes, NASA is shifting near term power supply from nuclear to non-nuclear surface power, creating an accelerated opportunity for multiple RFC systems. There are limited sources for space flight tested air-independent fuel cells, such as Infinity’s, and we are one of the leaders.
–Also related to space, Infinity received a major technology development purchase order from a leading commercial space partner. This technology development has strategic relevance to future space work. Further, Infinity continued partnering with two other commercial space companies for various potential lunar and LEO energy and life support opportunities.
–Direct NASA funded RFC development and testing continued, aimed at surface and flight power and energy storage systems. Delivery of test articles to NASA is scheduled for later this year
–Finally, in an April 27 procurement filing, NASA said it was planning to increase the maximum value of its Commercial Lunar Payload Services (CLPS) contract from $2.6 billion to $4.2 billion. These CLPS landers present major opportunities for Infinity, and the budget increases illustrate the positive funding environment for future lunar missions.
Looking forward, we see multiple opportunities ahead of us for the rest of 2026 and beyond. Momentum is on our side. Stay tuned for more updates.Thank you for your support,
Bill Smith CEO and Founder Infinity Fuel Cell and Hydrogen Inc.
Infinity® is a registered trademark of Infinity Fuel Cell and Hydrogen, Inc.
