Vancouver, British Columbia--(Newsfile Corp. - November 15, 2022) - First Hydrogen Corp. (TSXV: FHYD) (OTC Pink: FHYDF) (FSE: FIT) ("FIRST HYDROGEN" or the "Company") is pleased to announce its first hydrogen fuel cell-powered van (FCEV) have commenced performance tests at the HORIBA MIRA Proving Ground, located near Birmingham, UK. These track tests will confirm the safety and performance of the light commercial vehicles (LCV) prior to the handover from powertrain specialists AVL to First Hydrogen. Last month, the vehicles were certified for UK road use ahead of a series of road trials with major UK operators, which start in January 2023. The vehicles will undertake final testing designed to fine-tune operational performance before they are available for fleet operator trials to commence in the New Year.
The Company's inaugural vehicles have more than five times more range capability than their battery electric equivalent - achieving 400-600km range on a single fuelling compared to the 115km range of the battery electric van running at the same maximum speed1. With a refuelling time of approximately five minutes, the time required to power First Hydrogen's FCEVs dramatically undercuts the 5 hours and 20 minutes it takes to recharge a battery electric van2.
Created to encourage adoption and whet the market appetite, the Company's vehicle demonstrator program will inform development for future vehicle trials in European Union, United States and Canada. Feedback and high-level purchase commitments will also support the design and development of First Hydrogen's next generation of vehicles, which it plans to bring to market in the next few years. The global light commercial vehicle market is projected to reach $786.5 billion by 20303. These vehicles, together with First Hydrogen's complete Hydrogen-as-a-Service (HaaS) solution, which supplies green hydrogen fuel, distribution and complementing vehicle management services, will help the sector meet zero emission targets.
Side-view
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First Hydrogen Limited and AVL Teams
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Rear view
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Front view
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First Hydrogen installed hydrogen fuel systems into the First Hydrogen LCV vans. The fuel stack was supplied by Ballard Power Systems, the leading global provider of energy fuel cell solutions, and the vehicles have been fitted out at AVL's facility in Basildon. The van has also been wrapped in First Hydrogen branded blue and white livery, designed with a nod to the vehicle's hydrogen-propulsion system.
Steve Gill, CEO of Automotive for First Hydrogen Limited, says: "The team has been working tirelessly to reach this monumental achievement. It has been phenomenal to watch the performance on the test track and really brought our vision into reality. These vehicles enable us to demonstrate how hydrogen fuel cell systems can serve the LCV market; delivering the range and providing the operational flexibility commercial fleets require."
Nicholas Wrigley, Chairman of First Hydrogen Limited, comments: "We are delighted with the initial performance of the First Hydrogen fuel cell van. There is growing pressure on the transport sector to achieve zero emission targets, which means operators, governments and investors are eager to see the power of hydrogen mobility in action. Using donor vehicles has enabled us to bring our first demonstrator vans to market quickly. This approach also allows customers to see, feel and experience the operational benefits of hydrogen propulsion in a familiar set up."
1 Based on the Worldwide Harmonised Light Vehicle Test Procedure (WLTP)
2 Charging time when using a cable charge at a rate of 7.2 kW
3Allied Research
About First Hydrogen Corp. (FirstHydrogen.com)
First Hydrogen Corp. is a Vancouver and London UK-based company focused on zero-emission vehicles, green hydrogen production and distribution and supercritical carbon dioxide extractor systems. The Company is designing and building hydrogen-fuel-cell-powered light commercial demonstrator vehicles ("LCV") under two agreements with AVL Powertrain and Ballard Power Systems Inc. The LCV will have a range of 500+ kilometres. At the same time, the company has launched its bespoke vehicle design phase which will develop its fleet of proprietary zero-emission vehicles. First Hydrogen is also developing refueling capability working with FEV Consulting GmbH, the automotive consultancy of FEV Group of Aachen Germany. The Company is also pursuing opportunities in green hydrogen production and distribution in the UK, EU and North America.
On behalf of the Board of Directors of
FIRST HYDROGEN CORP.
"Balraj Mann"
Chairman & Chief Executive Officer
Contact:
Balraj Mann
First Hydrogen Corp.
604-601-2018
investors@firsthydrogen.com
Cautionary Note Regarding Forward-Looking Statements: This news release contains information or statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Forward-looking information may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, milestones, strategies and outlook of First Hydrogen, and includes statements about, among other things, future developments and the future operations, strengths and strategies of First Hydrogen. Forward-looking information is provided for the purpose of presenting information about management's current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. These statements should not be read as guarantees of future performance or results.
The forward-looking statements made in this news release are based on management's assumptions and analysis and other factors that may be drawn upon by management to form conclusions and make forecasts or projections, including management's experience and assessments of historical trends, current conditions and expected future developments. Although management believes that these assumptions, analyses and assessments are reasonable at the time the statements contained in this news release are made, actual results may differ materially from those projected in any forward-looking statements. Examples of risks and factors that could cause actual results to materially differ from forward-looking statements may include: the timing and unpredictability of regulatory actions; regulatory, legislative, legal or other developments with respect to its operations or business; limited marketing and sales capabilities; early stage of the industry and product development; limited products; reliance on third parties; unfavourable publicity or consumer perception; general economic conditions and financial markets; the impact of increasing competition; the loss of key management personnel; capital requirements and liquidity; access to capital; the timing and amount of capital expenditures; the impact of COVID-19; shifts in the demand for First Hydrogen's products and the size of the market; patent law reform; patent litigation and intellectual property; conflicts of interest; and general market and economic conditions.
The forward-looking information contained in this news release represents the expectations of First Hydrogen as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. First Hydrogen undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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