Plug Power, FuelCell Energy, Avista and other leading fuel cell producers in the U.S. are expected to see a new formidable competitor from Japan after it decided to expand outside the Asia-Pacific region.

Japan’s giant hydro fuel cell leader Aqua Power Systems (OTCQB: APSI) announced in a press statement in September that it would be taking necessary steps to commence its global market appearance, with particular focus on the North American market in the soonest possible time.

"We are extremely committed to building upon our initial success in our Japan home market through expanding our manufacturing capabilities and establishing new international distribution channels for our current and future products in Europe, Africa, and across North America,” said company president Tadashi Ishikawa.

Ishikawa revealed that the company has been prioritising the acquisition of various certifications from key licensing firms in the U.S. Among which is Illinois-based safety consulting and certification firm Underwriters Laboratories (UL).

UL, which was established in 1894 and has been the key entity in ensuring safety analysis of many of the last century's new technologies, currently has over 40 offices across the globe. Aqua Power Systems believes that getting hold of a certification from the firm would enhance its brand reputation in the country and help widen its brand reach upon its inception on the market. Ishikawa also reiterated that following industry guidelines has been an essential part of the company’s operations and strategies to ensure employees and consumers that its products are safe and non-hazardous to health.

“In order to achieve further wide market acceptance for our products, Aqua Power also intends to submit its fuel cell lantern for safety analysis with the leading certification agencies in the world,” he added.

Aqua Power Systems, Inc., through its wholly-owned subsidiary Aqua Power System Japan Kabushiki Kaisha, is a leading developer, distributor and marketer of magnesium air fuel cell products. Its latest and most popular product to date, the Realistic Magnesium Air Fuel System, is one of the most innovative battery technologies on the market today.

All of the company’s products have earned rave reviews from various market and enterprise leaders in Japan and the rest of Asia for their extraordinary shelf life, unlimited refuelling capabilities, recyclability, environment friendliness, and capacity to power not only small and portable appliances but also giant stationaries and applications.

"As the developers and patent holders of the Realistic Magnesium Air Fuel System technology, we are in a position to continue the expansion of RMAF awareness into new markets around the world with new products specifically designed to utilise the technology's unique advantages,” Ishikawa said.

He emphasised that the company’s success has reached a point that its revolutionary products must not only service the Asian market but also others outside the continent.

Ishikawa said that the company would capitalise on the growing fuel cell market in the U.S. and Canada, which, according to Research and Markets, is expected to grow at a CAGR of 33.14 percent in unit shipment and at 38.59 percent in MW shipment from 2014 to 2019 period. He is confident that the company’s hydrogen-magnesium technology is something that the global market has never seen and utilised before, making it an essential addition to the global fuel cell industry.

According to market and consulting firm Grand View Research, the global fuel cell market is predicted to hit the 664.5 MW mark in 2020 at CAGR of 22.6 percent from 2014 to 2020.

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