Hydrogen Engine Center, Inc. (HEC) is a designer, manufacturer, and distributor of alternative-fueled internal combustion engines, engine controls, fuel delivery systems and power generation equipment. Headquartered in Algona, Iowa, they are part of the Diversified Machinery industry in the Industrial Goods sector. With a current market capitalization of $11.59M, they provide their products for distributed power, agricultural, industrial, airport ground support, off-road vehicular, business, and home applications. Founded in 2003, they mainly serve the U.S. and Canadian markets.
All of the company’s engines and power generation equipment are capable of running on many fuel types including hydrogen, ammonia, synthetic gas, coal bed methane, gasoline, and ethanol. The company sees great promise for hydrogen. They believe hydrogen has the potential to eliminate carbon-based emissions, with water being the only emission from a hydrogen-fueled engine.
Hydrogen Engine Center sells their engines and engine products under the brand name Oxx Power. Rated power on their engines ranges from 25Hp with their 1.6L engine, to 225Hp using their 7.5L engine. Hydrogen Engine Center’s product line includes a 4.9L, 6-cylinder Oxx Power engine, and a 4.9L, 6-cylinder Oxx Power Hydrogen engine, among others. Their varied engine line finds uses in applications like airport vehicles, forklifts, wood chippers, irrigation pumping equipment, and farm tractors and equipment. They are also a part of delivery vehicles, yard tractors, cranes, construction equipment, mining vehicles, and buses, and even electric power projects.
In April of this year, Hydrogen Engine Center announced that they had finalized a financing commitment of up to $4,000,000 from a private equity institutional investor. This financing, and a recently secured bank line, provides them with the capital necessary to continue the development of their near-zero emission engines and power generating systems. With their Oxx Power™ hydrogen-fueled internal combustion engines, providing two major needs – power and near-zero emissions – Hydrogen Engine Center is working hard to fuel growth for their shareholders.
Let us hear your thoughts below:
