Vancouver, British Columbia--(Newsfile Corp. - July 22, 2022) - First Hydrogen Corp. (TSXV: FHYD) (OTC Pink: FHYDF) (FSE: FIT) ("FIRST HYDROGEN" or the "Company") is pleased to announce its subsidiary, First Hydrogen Limited, has been welcomed into the UK Aggregated Hydrogen Freight Consortium (AHFC). The consortium brings together operators of the largest UK fleets of vans and trucks and predominant members of the hydrogen industry, including hydrogen producers, hydrogen state suppliers and vehicle manufacturers. The AHFC is led by Element Energy and includes members: Air Products, Anglo American, Hyundai, Toyota and BOC (a member of The Linde Group). The consortium works together with large UK fleet operators to accelerate the commercial rollout of fuel cell vans and trucks and hydrogen refuelling infrastructure.
First Hydrogen has already received expressed interest from ten (10) fleet operators to trial the company's two demonstrator hydrogen fuel cell-powered light commercial vehicles (LCV). The fleet operators include telecoms, express delivery, national utilities and national infrastructure companies, a national UK supermarket chain, a national vehicle breakdown and recovery association, an ambulance fleet, a national fleet leasing group and a zero-carbon technology group. The fleet trials will operate across multiple UK locations from West London, Birmingham and Sheffield to Tees Valley and Aberdeen. The fleet trials will allow operators to access the real-world operations, experience range and operational flexibility benefits of hydrogen.
The announcement coincides with confirmation that First Hydrogen's two demonstrator hydrogen fuel cell light commercial vehicles (LCV) are scheduled for testing and on-road commissioning starting later this month in the UK. The commissioning integrates two MAN eTGE vehicles with Ballard Power System's Fcgen-LCS hydrogen fuel cell. The vehicles are expected to be road-ready in Q4 2022, allowing for customer real-world usage trials to start in early 2023.
First Hydrogen and Element Energy expect to release more details on the AHFC van program later this year.
Steve Gill, CEO of First Hydrogen Automotive, says, "Our proposal has received quite a response. We are excited to work with Element Energy and to bring our technology directly to fleet companies, demonstrating the benefits of fuel cell powered light commercial vehicles. It is a great opportunity for us to generate customer interest in our vehicles and gain first-hand knowledge and driver feedback to contribute to our bespoke vehicle development program."
William Darby, Principal Consultant, Element Energy, stated, "After hearing about the First Hydrogen van product, we knew this would spark a lot of interest of our van operator group. We are looking forward to working with First Hydrogen to ensure the trial meets the needs of each operator, whilst also providing First Hydrogen with the information and support it needs to continue developing the product."
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.
About Aggregated Hydrogen Freight Consortium (AHFC)
The Aggregated Hydrogen Freight Consortium (AHFC) is an industry led group which aims to solve the chicken-and-egg problem that hydrogen faces in the transport sector. The AHFC brings together operators of the largest UK fleets of vans and trucks and predominant members of the hydrogen industry, including hydrogen producers, hydrogen state suppliers and vehicle manufacturers.
About Element Energy, (www.element-energy.co.uk)
Element Energy is a dynamic and growing energy consultancy, specialising in the intelligent analysis of low carbon energy. With over 20 years of experience with hydrogen and fuel cell technologies, Element has initiated and coordinated many of Europe's largest strategic hydrogen transport deployment projects. Element also lead the UK Aggregated Hydrogen Freight Consortium, which aims to accelerate the roll out of fuel cell vans and trucks and hydrogen refuelling infrastructure.
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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