B.C. Cleantech Company Drives Fuel Efficiency in Trucking Industry
Sidney, B.C.-based Empire Hydrogen Energy Systems Inc. is sparking interest and sales in North American trucking fleets. The company’s innovative new fuel enhancement system allows large diesel engines to burn fuel 10-25% more efficiently.
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The system consists of a small box of custom-built technology that can be installed in a variety of mechanisms - from long range trucks to electrical power generators to large marine vessels. The system splits water into hydrogen (H2) and oxygen (O2) gases and injects these into the engine through the air intake. These H2/O2 accelerant gases enable the engine to burn fuel more efficiently, increase performance, create cleaner exhaust and increases the life of the engine.
Empire Hydrogen’s technology is a natural fit for the trucking industry, where fuel accounts for 30-50% of operating costs. Fleets across North America have purchased test systems and are reporting consistent fuel economy savings of 15-16%. This validated data combined with positive testimonials are spurring fleet-wide sales in what is a virtually untapped market worth an estimated 100’s of billions of dollars.
In addition to the impressive cost savings in fuel efficiency, the system contributes to the reduction of greenhouse gasses. Recent testing at the British Columbia Institute of Technology showed engines using the system produced a 48% reduction in smog causing nitrogen oxides and dramatically fewer diesel particulates. In January 2017, Empire Hydrogen Energy Systems was awarded the Vancouver Island Business Excellence “Green Business of the Year” award from the Business Examiner newspaper.
As sales increase, the company plans to grow its Sidney, B.C.-based headquarters, which is currently staffed by six full-time employees. All components of the fuel enhancement system are produced locally from companies within ten miles of the headquarters. As Empire Hydrogen grows, increased sales and more full-time positions will be the result for other small businesses in the region. “We need close relationships with our suppliers so we can be adaptable to meet our high quality standards and precise requirements,” says Andrew Evans, Executive Vice President of Empire Hydrogen.
Empire Hydrogen Energy Systems Inc. owes its survival during its early start-up years to the Ministry of Jobs, Trade and Technology’s Small Business Venture Capital Tax Credit program. The program has helped the company to raise over $1 million since 2012 by providing a refundable tax credit to BC-based investors equalling 30% of their investment. The investment helped moved the company’s early research and development to where they are today - poised to change an entire industry.
In 2016, the Small Business Venture Capital Tax Credit Program helped over 250 small businesses raise over $114 million in capital and in 2017 has the capacity to provide $38.5 million in tax credits to support small businesses in BC to raise up to $128.3 million in additional capital financing.
Visit the Investment Capital Branch website for more information about the Small Business Venture Capital Tax Credit program, or contact the branch at 800 665-6597 or InvestmentCapital@gov.bc.ca for assistance registering and to find out how we can help your small businesses access capital.