Ammonia-Fueled Combustion Engines are Coming
A while back, Jeff, one of our readers pointed me to an announcement on ammonia fuelled irrigation pumps. Late last week, Jeff sent me another link to Market Watch's coverage of the Ammonia Conference in Algona, Iowa.
In the article, Ted Hollinger, President of Hydrogen Energy Center (HYEG.OB), outlines the company's efforts to produce ammonia fueled engines. From the article:
HEC projects their ammonia-fueled engines will produce 2.33 times more horsepower than a gasoline-fueled engine and plan to have finalized systems ready for sale in 2008.
"Ted Hollinger's presentation was one of the highlights of the conference. If the Hydrogen Engine Center ammonia fueled commercial internal combustion engines are as high in efficiency (50%) as Ted Hollinger indicates, it will be difficult for fuel cells to compete," commented Norm Olsen, P.E., Manager of Iowa State University's BECON (Biomass Energy Conversion) Facility in Nevada, IA.
That certainly is very interesting and presents a great opportunity for the company if his projections are correct.
I had a look at 1-year performance of the stock and it has just been hammered since June of this year with a precipitous drop since late August. Does anyone have an explanation to that recent performance?