WATERLOO, Ontario, March 27, 2023 (GLOBE NEWSWIRE) -- FuelPositive Corporation (TSX.V: NHHH) (OTCQB:NHHHF) (“FuelPositive” or the “Company”), a leading Green Ammonia company, is thrilled to announce the success of its Pre-Order Sales Initiative. The Company has received commitments for the first production target batch of five systems. Since the implementation of the Pre-Order Sales Initiative, FuelPositive’s team has been systematically vetting each inquiry to select the best end-users for one of the Company’s FP300 systems. FuelPositive provides a dedicated solution to fit each individual requirement, through the process of educating the customer and building a value-based relationship. This strategy has resulted in a high conversion rate.
As a result of this initiative, FuelPositive has been able to expand its initial target from a batch of five to 30 systems, with many systems already assigned. This expansion of the target batch numbers emphasizes the confidence that customers have in FuelPositive and its technology.
In addition to the impressive sales figures, the Company is receiving at least one enquiry per day for its Containerized Green Ammonia Systems from all around the world. This global interest in FuelPositive's modular systems is a tribute to the company's mission and values, the necessity of its solutions, and their game-changing nature in the Green Ammonia technology sector.
"We are excited to see such positive results from our preorder sales initiative, and we are grateful for the confidence and support of our customers from around the world," said Ian Clifford, FuelPositive’s CEO and Board Chair. "Our team has worked tirelessly to create a technology that not only benefits our company but also redefines the status quo in the highly carbon-intense and dysfunctional global ammonia market. This achievement is a confirmation of FuelPositive’s dedication to dramatically reduce greenhouse emissions."
FuelPositive continues to progress towards commercial manufacturing of its products, with the sales pipeline well-positioned to drive growth and success. By focusing on data-driven insights and customer engagement, the company is poised to become a leader in the ammonia market, disrupting traditional business models and offering innovative solutions to meet the evolving needs of end-users.
For more information about FuelPositive's new Pre-Sales initiative or to place a pre-sales order, please contact sales@FuelPositive.com
About FuelPositive
FuelPositive is a Canadian technology company committed to providing commercially viable and sustainable, “cradle to cradle” clean technology solutions, including an on-farm/onsite, containerized Green Ammonia (NH3) production system that eliminates carbon emissions from the production of Green Ammonia.
By focusing on technologies that are clean, sustainable, economically advantageous and realizable, the Company aims to help mitigate climate change, addressing unsustainable agricultural practices through innovative technology and practical solutions that can be implemented now.
The FuelPositive on-farm/onsite, containerized Green Ammonia production system is designed to produce pure, anhydrous ammonia for multiple applications, including fertilizer for farming, fuel for grain drying and internal combustion engines, a practical alternative for fuel cells and a solution for grid storage. Green Ammonia is also considered a key enabler of the hydrogen economy. FuelPositive systems are designed to provide for Green Ammonia production on-farm/onsite, where and when needed. This eliminates wildly fluctuating supply chains and offers end-users clean fertilizer, energy and Green Ammonia supply security while eliminating carbon emissions from the production process. The first customers will be farmers. Farmers use 80% of the traditional grey ammonia produced today as fertilizer.
The Company began accepting pre-sale inquiries in August 2022. See pre-sale details here: https://fuelpositive.com/pre-sales/.
Cautionary Statement
Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) that are based on expectations, estimates and projections as of the date of this news release. The information in this release about future plans and objectives of the Company, including the expected expenditures of the proceeds of the private placement, are forward-looking statements.
These forward-looking statements are based on assumptions and estimates of management of the Company at the time they were made and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect.
Many of these uncertainties and contingencies can directly or indirectly affect and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Forward-looking information is provided for the purpose of providing information about management’s expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking information or to explain any material difference between subsequent actual events and such forward-looking information, except to the extent required by applicable law.
For Investor enquiries, please contact:
Ian Clifford
Chief Executive Officer and Board Chair
info@fuelpositive.com
www.fuelpositive.com
Investor Relations (United States)
RBMG – RB Milestone Group LLC
Trevor Brucato, Managing Director
fuelpositive@rbmilestone.com
www.rbmilestone.com
For Media enquiries, please contact:
Oliveah Numan
Sussex Strategy Group
519-770-2991
onuman@sussex-strategy.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/999c9dc2-6bbd-43f1-97fc-d3f4869337c5
