GEI Administration Control Panel


April 2014

http://online.wsj.com/article/PR-CO-20140415-904023.html

FLINT, Mich., April 15, 2014 (GLOBE NEWSWIRE) -- GEI Global Energy Corp. (OTCBB:GEIG), a Nevada based company, announced that the Company has entered into a $10 million common stock purchase agreement with Kodiak Capital Group, LLC, a Newport Beach-based institutional investor. The company has agreed to file a registration statement with the U.S. Securities & Exchange Commission ("SEC") covering the shares that may be issued to Kodiak under the terms of the common stock purchase agreement. After the SEC has declared the registration statement related to the transaction effective, the company has the right at its sole discretion over a period of one year to sell up to $10 million of common stock under the terms set forth in the agreement. Proceeds from this transaction will be used to accelerate the global commercialization of the GEI X5 World Fuel Cell Electric Power Generator.

"We're very excited to partner with Kodiak and welcome their investment with open-arms," commented K. J. Berry, GEI GLOBAL's Chairmen and CEO. "Kodiak recognizes that our product is an industry and technology game changer and furthers acknowledges that our leadership team have built a successful business model focusing on three core areas including licensing for power generation partnerships, sales revenue of units across various sizes deploying a distributed and scalable architecture, and licensing agreements and joint ventures with other manufactures for core vertical markets."

Rakesh Vadyala, Chairman of Kodiak's Advisory Board, said, "The GEI GLOBAL engineering team has made remarkable progress and have positioned their alternative energy technology to overcome several technical barriers that have hindered the mass commercialization of fuel cell power systems. We look forward to our partnership and assisting GEI GLOBAL with their global expansion."

Additional details regarding the financing are included in an 8/K filed on 4/11/2014 by the Company with the Securities and Exchange Commission.

GEI GLOBAL ENERGY CORP., as a young emerging public company trading on the OTC Markets, the OTCBB, Yahoo Finance and other platforms, was originally established in 2007 as a Michigan based high-tech spin-off private Company with a menu of novel and innovative Fuel Cell technologies. GEI's product line is designed to be scalable for green hybrid fuel cell/solar power plants around the world. A multi-trillion dollar market is potentially available and, having recently gone public, has provided additional funding options which allows the Company to not only focus on existing customer demands, but also opens up expansion plans into worldwide markets for clean and inexpensive energy (www.geiglobal.com).

For more information regarding GEI GLOBAL's vision for an energy secure future, please click on the following video link: http://private.geiglobal.com/wp-content/uploads/2013/06/who-is-gei5.mp4.

About Kodiak Capital Group, LLC

Kodiak is an institutional investor headquartered in Newport Beach, CA. Kodiak makes private investments in public and private entities utilizing proprietary equity and debt instruments. These investments provide long-term strategic capital offering companies certainty, flexibility and consistency. Kodiak's investments are in a wide range of industries emphasizing alternative energy, consumer products, life sciences, natural resources, and social media technology. For more information, visit www.kodiakfunds.com.

Notice Regarding Forward-Looking Statements

This document contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mining exploration companies. These forward-looking statements are made as of the date of this document, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

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Innovation: High Temperature PEM Fuel Cells Print E-mail

GEI HIGH TEMPERATURE PEM MEMBRANES AND FUEL CELL STACKSgei_5-cell_stack-2

GEI fuel cell stacks employ high temperature PEM fuel cell membrane assemblies operating at 160C-180C rather than low temperature PEM membranes that traditionally operate at 70C-80C. Our membrane assemblies (MEA), supplied by BASF, are integrated into our proprietary fuel cells stack design and are denoted as the Celtec®-P 1000 MEA. Celtec®-P MEAs are based on the high temperature resistant polymer polybenzimidazole (PBI) acid electrolyte. Today, although PBI is mainly used for fire protection fabrics, Celtec®-P MEA is the basis for a new generation of high temperature PEM fuel cells which are more cost-effective, efficient and reliable than conventional low temperature fuel cell systems with the following features:

• Operation at temperatures between 120 and 180 °C
• No water management necessary
• High tolerance of CO (Carbon Monoxide)
• High tolerance of H2S (Hydrogen Sulfide)
• Excellent long-term stability
• Operational robustness

 

More performance and durability information regarding the high temperature BASF MEA can be located at: http://www2.pemeas.de/home.asp. Due to the HT-PEM high tolerance to CO and H2S, fuel processing of liquid carbon based fuels become very cost effective. It has been shown that low temperature fuel cells require CO concentrations less than 0.001% or 10 PPM (parts per million), while high temperature fuel cells are more tolerate, i.e. 3%-5% or 50,000 PPM. Additionally, low temperature PEM fuel cells require H2S concentrations less than 100 PPB (parts per billion) while high temperature fuel cells require H2S concentrations less than 10 PPM or 100 times more tolerate.

DOE Durability Targets
Additionally, BASF membrane durability testing (www2.pemeas.de) confirms a low degradation rate of 6.0x10-6 Volts/Hr per cell after 18,000 hours operating on pure H2 (or decrease in fuel cell stack efficiency of 20%). Assuming a beginning-of-life cell stack efficiency of 60%, the predicted end-of-life stack efficiency is 40% for a 2kW 24 cell stack after 40,000 hours of operation. While this preliminary "rough" scenario would seem to meet the DOE project objective, predicted operation with reformed fuels will be lower by approximately 5%. However, GEI is working with supplier BASF to evaluate its latest membrane development, i.e. CELTEC P-2000, which has improved transient performance for start/stop operations and improved long-term high temperature durability. The expected fuel cell efficiency degradation over 40,000 hours is 10% or implying a beginning of life efficiency requirement of 50% to meet the DOE end of life target of 40%.

GEI Balance-of-Plant and Integrated Controls
In addition to fuel impurity tolerance, high temperature PEM (HT-PEM) fuel cell membranes do not require humidity of inlet gases as for low temperature (LT-PEM) fuel cells. As such, the overall "system" efficiency is higher with fewer components and simpler controls and more reliable operations. The GEI power system couples both the reformer and high temperature fuel cell stack into an integrated unit. The excess fuel cell stack coolant heat is used to pre-heat the water for the steam reformer, and the stack cathodeair inlet. The unused hydrogen and anodeexhaust CO and CO2 is burned within a tail gas burner and supplies heat for the reformer which reduces the diesel fuel required within the reformer to maintain the catalysts bed temperature. Finally, the anode exhaust water is condensed and used within the reformer to minimize the external make-up water required. This integrated infrastructure design leverages the high-gradeheat attributes of high-temperature PEM fuel cell stacks. As such the overall system is cost effective, compact, thermally efficient and provides high grade heat for combined heat and power applications.

GEI High-Temperature World Fuel Cell Stack
GEI'spatented high temperature fuel cell stack design has flow field channel designs optimized for reformed fuels and incorporates a robust manifold design scalable from 2kw-10kw. This allows a single design for a wide of range of power requirements without re-occurring engineering design cost and provides the scalability necessary for large volume commercialization to reduce manufacturing cost.

Below are IV curves for GEI's 500W HT-PEM fuel cell stack operating on a mixture of 2% and 5% CO/H2 fuel to simulate performance on reformed fuels. Note when operating on 2% CO there is a 4% reduction in stack power at 200 ma/cm2 @ 160C, and a 9% reduction in stack power at 400 ma/cm2. The 2% CO is the confirmed maximum reformer operating characteristics on a dry mass basis. However, the HT-PEM power reduction is off-set by requiring fewer components and a higher "system" efficiency as compared to LT-PEM fuel cell systems.

 

gei_stack_3_iv_curves-gry