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SOURCE Hydrogen-XT, Inc.
HydrogeNXT's radical new fueling station design and app-based reservation system breaks the "chicken-and-egg" problem
HOUSTON, June 24, 2014 /PRNewswire/ -- Hydrogen-XT, Inc., a Houston-based technology company, is pleased to announce that it is licensing its patent-protected hydrogen refueling solution to its newly formed sister company, HydrogeNXT, Inc., which will sell the stations and operate the network that supports them.
"HydrogeNXT represents the culmination of all our dreams, and holds the promise of a huge leap forward on the cleanest of the green energy options for automobiles," said Robert Wise, Hydrogen-XT's founder and CEO. "After 12 years of research and development on this game-changing idea, we are moving forward faster than ever and I could not be more excited."
HydrogeNXT's formation also signals the opening of the operating company's Angel round as it prepares to formally kick off its Series A financing. For HydrogeNXT investment or M&A inquiries, visit HydrogeNXT.com.
HydrogeNXT's fueling solution relies on a patented, app-based reservation system that allows hydrogen customers to locate nearby stations, see how much fuel is available, reserve any amount they desire, obtain directions to the station, then complete the transaction all on their smartphone or infotainment system. HydrogeNXT's unique reservation system will give tomorrow's drivers the confidence that fuel they need is reserved and waiting.
Another key to HydrogeNXT's solution is its radical new design, allowing the station to be extremely cost effective. HydrogeNXT's hardware is small, estimated to cost about 100 times less than conventional hydrogen stations, with a base mode that holds just enough fuel for about five vehicles while servicing up to 15 to 20 in a day. Its patented, modular design also makes HydrogeNXT's station simple and inexpensive to scale up as the hydrogen economy grows. And with 10 distinct revenue streams built into the system, selling hydrogen isn't the only way owners will see a return on their investment.
"Hydrogen-XT is an innovative young company dear to my heart," said Bob Mann, the FCC's former director of public affairs. "[It] has a potential, not only for success, but to become a national gem when it comes to alternative ways Americans travel in their automobiles… What Hydrogen-XT has already done, and what it hopes to do in the future, leaves me with considerable enthusiasm."
About Hydrogen-XT and HydrogeNXT
Hydrogen-XT and HydrogeNXT are the products of 12 years of research and development by Robert Wise, an energy industry software engineer and member of Al Gore's Climate Reality Leadership Corps, along with energy industry procurement specialist Kenneth Templeton. Journalist Stephen C. Webster, a fellow Climate Reality Leader based in Austin, handles communications for both companies.
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