Vancouver, British Columbia--(Newsfile Corp. - October 16, 2023) - First Hydrogen Corp. (TSXV: FHYD) (OTC Pink: FHYDF) (FSE: FIT) ("FIRST HYDROGEN" or the "Company") is pleased to announce it will be hosting its first ever track day for major UK fleet managers to showcase its unique hydrogen fuel cell vehicles (FCEV). The event will provide an exclusive opportunity to test drive the Company's hydrogen-fuel-cell powered light commercial vehicles (FCEVs) on the track at HORIBA MIRA, UK.
Taking place at the end of October, First Hydrogen is set to welcome members from some 20 UK fleet operators that collectively own and manage more than a quarter of a million fleet vehicles. All attendees will have hands-on access to the first-of-their-kind 3.5-tonne FCEV and the chance to drive them. Complete with technical presentations and a vehicle walkaround to showcase the under-the-hood technology, the day will also provide attendees with the opportunity to discuss the practicalities of introducing the FCEVs into their own zero-emission fleets.
The vehicles have already undergone road trials with fleet management company Rivus and energy company SSE and are currently undertaking operations with major parcel delivery companies. First Hydrogen has already created an appetite for the vehicles with more than 15 major fleet operators who are on the waiting list to trial the vehicles in their own fleets. The track event enables First Hydrogen to demonstrate the vehicles' capabilities to multiple organizations in one day. This includes showcasing their impressive range of more than 630km (400 miles) on a single refuelling, ease of driving and, thanks to efficient powertrain technology, the ability to carry large payloads without compromising on the range in any weather conditions.
In anticipation of its popularity, the invitation-only event targets major UK LCV fleet operators including members of the UK Aggregated Hydrogen Freight Consortium (AHFC). The AHFC is a partnership of leading UK hydrogen industry and mobility companies which is led by Element Energy with input from global industrial members of UK H2Mobility. AHFC works with large fleet operators and the government to accelerate the commercial roll-out of FCEVs and hydrogen refuelling infrastructure to decarbonize high-mileage and heavy-duty van and truck fleets. Allied Market Research reported the global light commercial vehicle market is projected to reach US$786.5 billion by 2030 and First Hydrogen's vehicles will help the sector meet its zero emission targets.
Steve Gill, CEO for First Hydrogen Automotive, says: "We have been bowled over by the interest we've received from fleet operators in trialling our vehicles, with more than 15 companies on the waiting list. The race is on for fleets to meet emissions targets and this event gives these fleet managers the opportunity to get behind the wheel and understand the range, use cases and benefits of FCEVs compared to other alternative fuel vehicles. Our aim is for attending fleet managers and operational specialists to leave with a clearer view on the capabilities of First Hydrogen our hydrogen fuel cell vehicles, which will inform decision making on the purchase of zero emissions fleets.
"If we see sustained interest from prospective customers, there is potential for us to use this format as a template for a series of similar track events in the future, with the ambition for us to take the vehicles into Europe and North America."
ENDS
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 has a range of 630+ kilometres. These vehicles are being trialled 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.
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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