Jensel is expanding operations in Iceland: will provide energy for emergency communications services – the capital market

Under the agreement, the parties agreed that to the extent that the pilot presents satisfactory results, they will purchase additional systems. Gensel is expected to ship the product by early February, and will install it at one of the communications company’s stations as well as provide maintenance services. It should be noted that the engagement between the parties is supported by the Icelandic government. Accordingly, the company intends to act to obtain an order from the communications company for hundreds of units, as well as to continue testing the product with partners and potential customers and thereafter to allow it to carry out installations commercially.

Jensel, is a research and development company approved by the Innovation Authority, engaged in the design, development, production, marketing, sale and after-sales services of backup and power supply systems, based on the use of low-temperature alkaline fuel cells. The company’s products are based on fuel cells and a chemical reaction takes place between two gases: hydrogen and oxygen. The product of the mentioned chemical process (in which a connection is made between these gases), is electricity, water and heat. The power generation is completely clean and does not create any pollution during the production process.

Gencel is developing fuel cells as a response to the growing need for energy-based energy substitutes to address the supply of “uninterrupted electricity” to critical points in the economy, and stationary power solutions to geographic areas not connected to the grid.

The company, which began trading on the local stock exchange in November, has developed three products. Two of them have already reached technological maturity and are offered to customers, while the latter, is in the final stages of development. In the last month, the company completed a jump of about 27% and is now traded at a market value of about NIS 1.52 billion.

Last month, the company won a tender from the Federal Electric Company of Mexico (CFE), which selected Gencel’s backup systems (GenCell G5rx) as systems that would back up its array of hate stations, serving most of Mexico’s population. The contract is worth $ 6 million over two years, with an option to increase the volume of the deal to $ 12 million.

After winning said Rami Reshef, CEO and founder of the company In an interview with BizPortal, our role as management now is to generate value for the new shareholders who have joined us from the public. I always say that one of the special things about Gensel is that you don’t have many opportunities in life to do good for both shareholders and good for the world. ”