Vancouver, British Columbia--(Newsfile Corp. - June 26, 2023) - First Hydrogen Corp. (TSXV: FHYD) (OTC Pink: FHYDF) (FSE: FIT) ("FIRST HYDROGEN" or the "Company") announces that the Company's hydrogen-fuel-cell powered vehicle (FCEV) has been delivered to UK utility, SSE Plc (SSE). The FCEV will begin real-world trials at SSE's operational site at Aberdeen, Scotland and surrounding areas, which features some of the UK's best hydrogen infrastructure. This infrastructure will enable SSE to experience easy and fast refuelling within 5-7 minutes, showcasing a significant advantage of the Company's FCEV over battery electric vehicles (BEV), which typically take hours to recharge.
As the UK's largest low-carbon energy infrastructure company, SSE currently operates one of the largest vehicle fleets in the UK and, in recognition of the crucial role decarbonization of transport plays in meeting net zero, has already pledged to switch 2,500 of its vehicles to electric. Data will be collected from onboard instruments analyzing fuel consumption, usage and efficiency. The information will be used towards calculating the Total Cost of Ownership, a key consideration for fleet operators when purchasing vehicles.
SSE is the first utility to trial the Company's FCEV, coordinated through the Aggregated Hydrogen Freight Consortium (AHFC). The organization works with large UK fleet operators to accelerate the adoption of hydrogen transport through vehicle deployment and refuelling infrastructure development. The trials will see 16 major fleet operators who have expressed interest in trialling First Hydrogen's vehicle, including grocery, utilities, parcel delivery and healthcare companies.
Steve Gill, CEO Automotive at First Hydrogen says: "We're delighted to be working with energy giant SSE, which is already making great strides in switching to clean energy and decarbonizing its operations. Transitioning to fossil-fuel-free transport is a major step along the road to net zero and we are pleased to help SSE become the first utility company to explore hydrogen vehicle performance alongside other alternative fuels to power its maintenance and utilities vehicles. We're also thrilled to take our vehicle to Aberdeen, where so much work is already underway to champion hydrogen and know that the City Council sees this trial as an important test for promoting commercial FCEVs in the area too."
Ronnie Fleming, Chief Procurement Officer at SSE, says: "As part of our commitment to achieving net zero and in addition to our leading EV100 pledge, we are keen to explore all alternative fuels for our fleet. We're looking forward to seeing the vehicles in action, for our drivers to experience how they operate in practice and for our fleet managers to evaluate how hydrogen vehicles could fit into our future fleets."
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 has designed and built 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. These vehicles are currently being trialed with an initial 16 fleet operators in the United Kingdom. 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.
About SSE plc (www.sse.com)
SSE's purpose is to provide the energy needed today while building a better world of energy for tomorrow, by developing, building, operating and investing in world-class electricity infrastructure that is vital to the clean energy transition. This includes onshore and offshore wind farms, hydro, electricity transmission and distribution networks, power stations, carbon capture and hydrogen storage, solar and batteries, as well as providing energy products and services for businesses and other customers.
A FTSE-100 company headquartered in the UK, SSE has a growing presence in international markets in Europe, Asia and North America. Employing c.12,000 talented and skilled people and are a proud 'real Living Wage' and 'Living Hours' employer and accreditee of the 'Fair Tax Mark'. SSE, also, is the first company in the world to develop a 'Just Transition Strategy' aimed at ensuring the benefits of the clean energy transition are shared by workers and communities.
On behalf of the Board of Directors of
FIRST HYDROGEN CORP.
"Balraj Mann"
Chairman & Group CEO
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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