First Hydrogen Establishes First Hydrogen GmbH

March 10, 2025 at 03:05 AM EDT

Vancouver, British Columbia--(Newsfile Corp. - March 10, 2025) - First Hydrogen Corp. (TSXV: FHYD) (OTC Pink: FHYDF) (FSE: FIT) ("FIRST HYDROGEN" or the "Company") is pleased to announce the incorporation of its wholly-owned German subsidiary, First Hydrogen GmbH. The establishment of First Hydrogen GmbH is part of the Company's strategy to expand its presence into the European market and capitalize on the region's growing demand for clean energy solutions. Establishing First Hydrogen GmbH aligns with the Company's broader strategy to leverage Germany's and the European Union's ("EU") leadership in renewable energy and hydrogen technologies. Green hydrogen will be one of Germany's solutions for decarbonizing hard-to-abate sectors like heavy industry and achieving its climate goals.

Parties in talks to form Germany's new government agreed to create a €500-billion special fund to boost the country's infrastructure. Germany has made significant investments in hydrogen infrastructure and a strong policy framework supporting the adoption of green hydrogen. Current domestic production alone cannot meet the country's hydrogen demand, prompting the government to adopt a new import strategy last month. This strategy aims to secure a stable, diversified supply of hydrogen and its derivatives, such as ammonia and methanol, to address an estimated 50 to 70 percent of Germany's projected demand of 95 to 130 terawatt hours (TWh) by 2030. The plan includes expanding import pipelines, shipping infrastructure, and fostering partnerships with exporting countries (newclimate.org).

First Hydrogen's initiative will be to provide a stable, scalable and cost-effective supply of green hydrogen including the application of small modular nuclear reactors ("SMRs"). The Company is evaluating new innovative SMR technologies that meets the company's objectives. The European Union has recognized nuclear with a green label under its taxonomy. Under the EU green taxonomy, European investments will be directed towards activities considered to be sustainable and contribute to climate change. Nuclear energy is an essential component of the decarbonization strategy of countries around the world as it produces low CO₂ levels (70 times less CO₂than coal; 40 times less than gas; 4 times less than solar energy; 2 times less than hydroelectricity; and the same amount as wind energy) (Green Label).

Balraj Mann, CEO of First Hydrogen commented, "Germany has approved plans for a €19 billion, 9,040-kilometer hydrogen network, set to be fully operational by 2032. This core network will connect industrial hubs, such as steel producers, aiming to decarbonize. SMRs offer the flexibility of producing green hydrogen and have the ability to supply electricity, at a low cost."

About First Hydrogen Corp. (FirstHydrogen.com)

First Hydrogen Corp. is a Vancouver, Montreal and London UK-based company focused on zero-emission vehicles, green hydrogen production and distribution. The Company has designed and built two hydrogen- fuel-cell-powered light commercial vehicles ("FCEV"). The FCEV are road-legal in the United Kingdom (excluding Northern Ireland) with 6,000 km of testing completed and have achieved a range of 630+ kilometres on a single refueling. The vehicles have successfully been trialled in real-world conditions with fleet operators in the United Kingdom.

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.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/243825

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First Hydrogen Establishes First Hydrogen GmbH

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