Most Recent News:
–In partnership with Cellula Robotics, we created a joint venture (JV) company to market and distribute our marine fuel cell power systems globally. (See details below).
–We achieved an initial funding tranche from this commercial joint venture partner for initiation of product development.
–We were selected by a major commercial space partner as their supplier for an upcoming NASA procurement and we signed a teaming agreement with them for new generation technology to meet these emerging low earth orbit needs.
–We signed a new NASA Glenn Research Center (NASA GRC) contract to deliver new Regenerative Fuel Cell (RFC) stacks incorporating recent advances in support of NASA GRC’s ongoing lunar RFC work.
–We successfully completed work on a contract with a major commercial space customer also aimed at lunar RFC energy storage applications.
–We completed discussions with Plug Power (NASDAQ: PLUG) on accessing their larger water electrolysis technology to be used in our larger scale green hydrogen regenerative energy storage systems.
–We substantially increased our sales funnel with multiple bids now pending on multi-million-dollar projects.
Other highlights:
–We successfully completed a previous NASA lunar RFC contract and delivered a test article stack to NASA GRC for testing at NASA facilities.
–Under the same contract we successfully completed a 2600-hour in-house test of a second lunar RFC.
–Earlier in the year we signed a new contract with a leading commercial space company related to a lunar regenerative power system based on our NASA work.
–Our larger fuel cell test stacks, recently delivered to a U.S. Navy Test UUV program, met requirements and performed successfully.
–Through our R&D efforts we advanced next generation fuel cell and electrolyzer designs aimed at major cost reductions, confirming the ability of these designs to reduce peak $/kW by at least 50% while increasing performance, and reducing lead times.
–Also under R&D and contract efforts we continued successful integrated in-house system life testing of Beta versions of our marine fuel cell systems. This testing is vital to proving out the long term durability of complete customer product solutions.
Marine Products: Joint Distribution Venture Formed
During Q3 we negotiated and signed a major joint venture agreement with Cellula Robotics for marketing, development, and distribution of our marine products. Under this agreement Infinity grants the new joint venture company, Nautigen, exclusive rights to sell and market Infinity’s marine fuel cell power systems while Nautigen agrees to exclusively buy fuel cell systems from Infinity. Under this agreement Infinity develops and manufactures the fuel cell systems, retains all fuel cell related IP and sells directly to Nautigen for distribution to the marine market.
The agreement guarantees, with contingencies, a minimum of $13 million in funding to Infinity over the length of the agreement. The deal is structured so Infinity will retain all profits from direct fuel cell sales to Nautigen while also receiving a share of the JV profits. The anticipated rapid growth of the global market for unmanned underwater vehicles suggests that much higher revenue is possible. The JV company will be located right here in Windsor, CT USA.
Financing:
Finally, in 2025 we closed on our most recent Reg CF round bringing our total fundraising from two Reg CF rounds to $5.7 million. This funding is especially important to our R&D activities by complementing and supplementing funded contract awards.
Thank you for your continued support and belief in Infinity’s mission to revolutionize energy systems for Earth and beyond. We look forward to sharing more exciting developments as we continue to execute our 2026 plans and achieve new milestones.
Best regards,
Bill Smith
CEO, and Founder
Infinity Fuel Cell and Hydrogen Inc.
Infinity® is a registered trademark of Infinity Fuel Cell and Hydrogen, Inc.
