SYLA Solar Signs a Business Alliance Agreement with ABILITY
SYLA Technologies Co., (NASDAQ: SYT) has announced that its subsidiary, SYLA Solar, has entered into a business alliance agreement with ABILITY The alliance aims to launch a joint demonstration experiment for clean energy supply, combining solar power generation and atmospheric pressure hydrogen cartridges.
The project will utilize solar-generated electricity to produce hydrogen, which will be stored in cartridges and used to operate a fuel cell (FC) generator. The experiment will also explore the utilization of produced oxygen, heat, and electricity from the FC generator. This initiative seeks to promote efficient use of renewable energy and expand hydrogen energy applications, contributing to the creation of a sustainable society.
- Partnership with ABILITY for clean energy innovation
- Potential for new revenue streams in renewable energy sector
- Demonstration of technological capabilities in solar and hydrogen energy
- None.
Insights
The collaboration between SYLA Solar and ABILITY to develop a clean energy supply system combining solar power and hydrogen is an intriguing step towards renewable energy innovation. This joint effort reflects a growing trend among energy companies to diversify their portfolios with sustainable solutions. For investors, this alliance could present potential long-term growth opportunities, especially as the global shift towards renewable energy continues.
One key point of interest is the application of atmospheric pressure hydrogen cartridges, which could improve the safety and efficiency of hydrogen storage compared to traditional high-pressure systems. This technology aligns with the increasing demand for safer, more efficient hydrogen storage solutions that are vital for the viability of the hydrogen economy.
However, it's essential to consider the demonstration stage of this project. While it shows promise, there is inherent risk until the technology proves itself commercially viable. Investors should remain cautious about the timeline and the potential technological hurdles that could arise.
Understanding that renewable energy projects often experience lengthy development phases, investors should view this alliance as a strategic move with potential future payoffs rather than an immediate revenue booster.
This agreement highlights SYLA Technologies' forward-thinking approach in the renewable energy sector. By coupling solar power with hydrogen energy, the company is positioning itself as a player in two rapidly growing markets. The hydrogen economy alone is projected to be worth billions in the coming years.
From a market perspective, such collaborations can enhance SYLA's brand as a sustainable and innovative company, which is increasingly attractive to both consumers and investors. The ability to conduct a demonstration experiment shows that the company is not only investing in theoretical research but is committed to practical, real-world applications.
Nevertheless, it is important to evaluate the commercialization potential of this technology. The success of the experiment and subsequent market adoption will significantly influence SYLA's financial performance. Investors should monitor progress updates and potential regulatory hurdles that could impact the deployment of this technology.
The technical aspect of this alliance between SYLA Solar and ABILITY involves some innovative uses of existing technologies. Utilizing solar power to generate hydrogen and then storing it in atmospheric pressure hydrogen cartridges represents a novel approach that could address some of the current limitations associated with hydrogen storage and transportation.
The process of decomposing hydrogen into oxygen and hydrogen for use in fuel cells also underscores the potential for integrated energy systems. Such developments could pave the way for more efficient and sustainable energy solutions, reducing reliance on fossil fuels and contributing to carbon neutrality goals.
However, technical challenges remain. The efficiency of converting solar energy to hydrogen, the durability of the hydrogen cartridges and the overall cost-effectiveness of the system will be critical factors in determining its success. Investors should watch for technical performance data from the demonstration to assess the practical viability of this technology.
Clean Energy Supply by Combining Solar Power Generation and Hydrogen
TOKYO, July 18, 2024 (GLOBE NEWSWIRE) -- SYLA Technologies Co., Ltd. (NASDAQ: SYT) (“SYLA” or “the Company”), operator of the largest membership real estate crowd-funding platform in Japan, Rimawari-kun, announced that its subsidiary, SYLA Solar Co., Ltd. (“SYLA Solar”) has entered into a business alliance agreement (“the Alliance”) with ABILITY LTD. (“ABILITY”) to launch a joint demonstration experiment for clean energy supply utilizing solar power generation and atmospheric pressure hydrogen cartridges.
The scope of work under the Alliance includes planning, research, development, design, production, and sales operations related to clean energy supply utilizing solar power generation and atmospheric hydrogen cartridges. These activities will be carried out jointly or collaboratively by SYLA Solar and ABILITY.
The project will utilize solar-generated electricity to produce hydrogen, which will then be decomposed into oxygen and hydrogen. The hydrogen will be stored in atmospheric pressure hydrogen cartridges and used to operate a fuel cell (FC) generator. Additionally, the demonstration experiment will commence to explore the utilization of the produced oxygen, as well as the heat and electricity generated by the FC generator.
This joint demonstration experiment aims to promote the efficient use of renewable energy and the expansion of hydrogen energy. SYLA Solar and ABILITY will leverage their combined technological capabilities and expertise to offer innovative energy solutions, contributing to the creation of a sustainable society.
About SYLA Technologies Co., Ltd.
Headquartered in Tokyo, Japan, SYLA Technologies Co., Ltd. (NASDAQ: SYT) (“SYLA” or “the Company”) owns and operates the largest membership real estate crowd-funding platform in Japan, Rimawari-kun, which targets individuals, corporate and institutional investors, as well as high net worth individuals. SYLA’s mission is to democratize real estate investment around the world through technology and asset management through the Rimawari-kun platform. SYLA is engaged in the overall investment condominium business, including planning, development, construction, sales, rental management, building management, repair work, and the sale of properties. Additional information about the Company’s products and services is available at https://syla-tech.jp/en.
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, the Company is using forward-looking statements when it discusses the expected gross proceeds and the closing of the offering. Forward-looking statements are not historical facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management’s expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the Securities and Exchange Commission (“SEC”), including, but not limited to, the risks detailed in the Company’s annual report on Form 20-F, filed with the SEC on May 15, 2024. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.
Contact Information
SYLA Technologies Investor Relations Contact:
Gateway Group, Inc.
John Yi and Steven Shinmachi
SYLA@gateway-grp.com
(949) 574-3860
SYLA Technologies Company Contact
Takeshi Fuchiwaki
Director, Chief Growth Officer
irpr@syla.jp
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c40ed6ad-8fd4-42da-bbec-367cba27bf3e
FAQ
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