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PowerUp has created UP400 – THE FIRST FUEL CELL-BASED ELECTRIC GENERATOR IN THE WORLD to exploit pure hydrogen gas in the maritime sector. It will be a disruptive innovation. UP400 extremely lightweight, water and corrosion resistant, can run easily in extreme conditions and does not need maintenance. UP400 is specifically designed for the sailing boat industry. However, because of the unique properties, it is possible to expand to many other market segments in the future – refrigerated containers, military, recreational vehicle, electric cars, drones, electric bikes, and off-grid homes.
Still, a great amount of research input is needed to clarify the exact market size and the requirements of the entry market. Also, feasibility and cost analyses need to be performed to develop a solid business plan before we can include bigger investments and take the next step towards bringing our innovative product to high enough maturity level to capture a
considerable market share.
The main goal of this proposal is to perform market research to map out the accessible market size and generate technology and product development roadmap together with investment and financial plan for the market entry and expansion, as well sales development plan. It is extremely important to gather data about current and potential requirements to identify power consumption in all potential market segments.
One of the most important tasks within this project will be the mapping of hydrogen refilling stations for our particular solution and scout the alternative ways for the hydrogen refilling at the marinas.
Other objectives of the proposal are to perform the Freedom to Operate analysis and to map out the necessary certifications needed for each market to get a better overview of the future costs and go-to-market timeline. This is essential for developing a solid business plan. |
