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Florida company grants first license for hydrogen power tech to MarineMax
A company headquartered in the Kennedy Space Center has granted its first license for its hydrogen power production technology to a Clearwater boat retailer.
A company headquartered in the Kennedy Space Center has granted its first license for its hydrogen power production technology to a Clearwater boat retailer.
MarineMax will have the exclusive rights to develop, manufacture and sell propulsion and auxiliary boat power systems capable of running on hydrogen extracted from seawater using Joi Scientific's Hydrogen 2.0 technology. The hydrogen production process is based on the clean extraction of hydrogen directly from untreated seawater, on-demand, at the point of use, according to a release. No financial terms were released.
The power can be used in many ways, including auxiliary power for lighting, heating, cooling and cabin services.
MarineMax (NYSE: HZO), headquartered in Clearwater, is one of the Tampa Bay area's largest public companies, with $1.05 billion in 2017 revenue according to Tampa Bay Business Journal research.
William McGill Jr., chairman and CEO of MarineMax, said the Hydrogen 2.0 tech “provides three major advantages to the marine industry. It uses seawater as the base fuel stock that is very readily available. It derives power from a safe and reliable conversion process that is sustainable; involves no combustion of hydrocarbons; emits no carbon; and when used with fuel cells, produces no noise. It is also highly versatile and can potentially scale from auxiliary power for boats at anchor to powering the main propulsion system of pleasure and commercial yachts and ships.”
The development of on-board power systems using Hydrogen 2.0 will be a joint effort between MarineMax, Joi Scientific and co-development partners who will work with vendors across the industry, the release said.
Traver Kennedy, CEO of Joi Scientific, said MarinexMax is an ideal partner to develop the Hydrogen 2.0 technology. Before co-founding Joi Scientific, Kennedy was chief strategist at Citrix (NASDAQ: CTXS).
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