With US$10 million investment round led by Australia's Clean Energy Finance Corporation, Siltrax aims to revolutionize the hydrogen industry with its patented silicon bipolar plate technology

SYDNEY, Australia, Sept. 18, 2024 (GLOBE NEWSWIRE) - Siltrax, a pioneering company in fuel cell innovation, today introduced its groundbreaking silicon-based fuel cell technology, which leverages the unique characteristics of silicon to deliver enhanced performance, durability and cost-efficiency. Supported by a US$10 million investment round, including 7 million from Australia's Clean Energy Finance Corporation (CEFC), Siltrax is focused on transforming the hydrogen industry with its cutting-edge technology, designed to revolutionize fuel cell applications across a range of industries.

At the core of Siltrax's innovative fuel cell technology are silicon-based bipolar plates, which take advantage of the material's lightweight and durable nature, mechanical and chemical stability and ability to withstand high temperatures and corrosive environments. Silicon also allows the creation of micro-scale flow channels on the plates' surface. Combined, these attributes directly enhance the power density, durability and performance of Siltrax's fuel cells relative to its peers.

Another key advantage of Siltrax's innovation is the ability to leverage existing photovoltaic (PV) supply chains for raw materials and production equipment. This strategic approach also allows Siltrax to leverage existing process and techniques to further optimize its manufacturing processes but also holds the potential to reduce the overall cost of fuel cell production, making this advanced technology more accessible for widespread adoption.

“We're entering a new era of energy innovation where silicon-based fuel cells have the potential to transform the clean energy landscape,” said Dr. Zhengrong Shi, co-founder of Siltrax. “Silicon's properties enable us to push the boundaries of fuel cell design, creating a low-cost, high-performance product. And, by leveraging resources from the solar industry, we can lower the barriers to mass manufacturing and make clean energy solutions more accessible to the global market.”

The innovative technology was developed by Dr. Shi, a renowned solar entrepreneur, and Dr. Jim Zhu, a semiconductor expert with extensive experience in silicon-based materials research. Together, they bring a wealth of knowledge and expertise to developing Siltrax's silicon-based fuel cell technology.

Siltrax's initial focus is aerospace and stationary power applications. Hydrogen is considered the optimal solution for decarbonizing the aerospace industry, as hydrogen's high energy density makes it a suitable medium for powering aircraft over long distances.

Applications of Siltrax Fuel Cells

• Drones & Aerospace: Lightweight, compact silicon-based fuel cells are advantageous in applications where volume and weight are critical factors. This includes drones, electric vertical take-off and landing aircraft (eVTOLs) and other aerospace technologies that require high energy density without compromising payload capacity.
• Stationary Power Generation: With its durability and low-cost manufacturing, Siltrax fuel cells are also ideal for stationary power applications, providing zero-emission, reliable energy solutions. Additionally, Siltrax's fuel cell solutions can integrate with existing natural gas and methanol infrastructure, reducing the need for high-purity hydrogen gas.
• Transportation: Siltrax's innovative fuel cells can be used for a wide range of transportation applications such as commercial vehicles and passenger vehicles.

With backing from the CEFC and Virescent Ventures, Siltrax is expanding its research and development team in Australia to further advance fuel cell systems engineering and explore local commercialization opportunities. The company is focused on bringing this revolutionary technology to international markets, contributing to the global transition toward a cleaner energy future.

Fuel cells, which directly convert the chemical energy in hydrogen into electricity with only water and heat as byproducts, are crucial in the global transition to cleaner energy. The International Energy Agency (IEA) has identified fuel cells as one of the critical technologies necessary to meet the challenges of energy transition. Siltrax's innovation stands poised to make a significant contribution to this goal.

About Siltrax
Siltrax is a leading innovator in silicon-based fuel cell technology, driving advancements in energy efficiency and sustainability. Based in Sydney, Australia, the company is committed to developing durable, high-performance fuel cells for power generation, transportation, and material handling, with a strong focus on sustainability. By leveraging existing supply chains and cutting-edge research, Siltrax aims to revolutionize clean energy solutions and contribute to the global hydrogen economy. For more information, visit www.siltrax.net.

PR Contact:
Leah Wilkinson
Wilkinson + Associates for Siltrax
leah@wilkinson.associates
+1-703-907-0010

Mitchell Shi
Assistant to CEO for Siltrax
mshi@siltrax.net
+852 5602 1742

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/c862c42a-5a83-49d3-b3cc-fcb028c67fd6

https://www.globenewswire.com/NewsRoom/AttachmentNg/476cb7c8-1ca3-4e89-b89d-7f09534dfbca

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