Vancouver, British Columbia--(Newsfile Corp. - August 22, 2022) - First Hydrogen Corp. (TSXV: FHYD) (OTC Pink: FHYDF) (FSE: FIT) ("FIRST HYDROGEN" or the "Company") is pleased to announce that its two demonstrator vehicles have successfully completed initial commissioning trials. The Company's demonstrator vehicles have passed the important vehicle control system tests as part of the commissioning trials. The fuel cell systems, including the stack supplied by Ballard Power Systems, have undergone extensive calibration and testing in Graz, Austria. The testing is run by First Hydrogen's automotive build partner, AVL, one of the world's leading mobility technology companies for development, simulation and testing in the automotive industry and beyond.
The commissioning process ensures that the vehicles meet the highest possible safety standards for hydrogen and high voltage electrical safety systems. As part of the commission, Essex County Fire and Rescue Service inspected the vehicles at AVL's facility in Basildon, UK and were satisfied the control measures put in place have supported the application for use on the county's roads. This important step enables the vehicles to be tested in mixed road and driving conditions and to confirm performance ahead of First Hydrogen's real-world operational trials with major fleet operators in early 2023.
Since announcing the trials, which are coordinated through Element Energy and the UK Aggregated Hydrogen Freight Consortium (AFHC), a further two fleets have expressed interest in participating in the demonstration programme. A total of 12 fleet operators working across a range of industries including telecoms, utilities, infrastructure, delivery, grocery and healthcare have now signed up to participate. They will be able to technically evaluate First Hydrogen's fuel cell vehicles in terms of payload, range and ease of refuelling and compare ease of use with battery electric alternatives. It is expected that First Hydrogen will be able to secure indications of interest for future vehicle orders as a result of these trials.
Steve Gill, CEO at First Hydrogen Automotive, says, "Completion of the first trials is a key milestone in our demonstrators' this takes First Hydrogen to progress in the next stages of development for the vehicle's hydrogen system, filling trials and dynamic road running. We are pleased that Essex Fire and Rescue Service were reassured to see the control measures put in place so have supported the application for use on the county's roads. This also paves the way for future hydrogen fuel cell vehicles to be accepted for UK road testing. With real-world fleet trials due to start early next year, we are moving towards our goal of accelerating the adoption of zero-emission vehicles in the light commercial vehicle market. We are hugely encouraged by the appetite from AHFC members, which includes some of the largest fleet operators in the UK, to trial our hydrogen-powered vehicles. Not only will these trials provide unique proprietary data for our next generation of vehicles, but the trials are also expected to generate future demand and establish a customer base."
Balraj Mann, Chairman of First Hydrogen, says, "With the hydrogen demonstrator vans being near road legal, First Hydrogen is in a position to take part in the various government programs the Canadian and United States' governments have put in place. The Canadian government, in its 2022 Budget, offers $3-billion of incentives for zero-emission vehicles and related infrastructure. The recent US climate, tax and health bill provides a massive US$369-billion to fight climate change. The US bill will reduce the cost of producing green hydrogen allowing for lower operating costs for vehicle owners."
Demonstrator van testing at AVL facility
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Demonstrator van testing at AVL facility
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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 and elsewhere.
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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