First Hydrogen Corp Establishes First Hydrogen Energy to Build Green Hydrogen Production and Distribution

Rhea-AI Summary

First Hydrogen Corp. has launched First Hydrogen Energy to focus on green hydrogen production and distribution. The new division aims to secure fixed-price green hydrogen for automotive customers by developing 25 MW production sites in the UK, Italy, Germany, and Canada. Key advisors from Ballard Power and INEOS have joined the team. The initiative aligns with global energy transition efforts towards zero-emission technologies. First Hydrogen is also engaged in developing a hydrogen-fuel-cell-powered commercial vehicle with AVL Powertrain and Ballard Power Systems.

Positive

• Establishment of First Hydrogen Energy to consolidate green hydrogen initiatives.
• Engagement with experienced advisors from Ballard Power and INEOS.
• Development of multiple 25 MW green hydrogen production sites in key markets.
• Strategic alignment with global zero-carbon energy transition.

Negative

• None.

VANCOUVER BC / ACCESSIRE / March 8, 2022 / First Hydrogen Corp. ("FIRST HYDROGEN" or the "Company") (TSXV:FHYD)(OTC PINK FHYDF)(FSE:FIT) is pleased to announce the establishment of First Hydrogen Energy, a division of First Hydrogen Corp. which will consolidate and lead the Group's business in the production and distribution of green hydrogen.

With the additions of advisors and non-executive directors Rob Campbell from Ballard Power and Peter Williams from INEOS, First Hydrogen Energy is currently reviewing and processing new green hydrogen production projects in the UK, Italy, and Canada, where discussions with local partners are ongoing. First Hydrogen is also engaged in discussions with industrial partners for the supply of technology and plant management. First Hydrogen has specifically identified the UK, Italy, Germany, and Canada for the development and construction of several 25 MW sites in each country to provide our potential future automotive customers with a guaranteed supply of green hydrogen over the lifetime of their vehicle ownership at a fixed price.

"Hydrogen production and procurement is a First Hydrogen strategy that is both timely and important in today's environment of worldwide energy needs as we transition away from traditional hydrocarbons to the zero-carbon economy," said Nicholas Wrigley Chairman of First Hydrogen UK.

About First Hydrogen Corp.

First Hydrogen Corp. is a Vancouver and London UK-based company focused on zero-emission vehicles and supercritical carbon dioxide extractor systems. The company is designing and developing a hydrogen-fuel-cell-powered light commercial demonstrator vehicle under two agreements with AVL Powertrain and Ballard Power Systems Inc. The LCV will have a range of 500+ kilometres. First Hydrogen is developing refueling capability working with FEV Consulting GmbH, the internal automotive consultancy of FEV Group of Aachen Germany.

On behalf of the Board of Directors of

FIRST HYDROGEN CORP.

"Balraj Mann"
Chairman & Chief Executive Officer

Contacts:

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

SOURCE: First Hydrogen Corp.

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FAQ

What is First Hydrogen Corp's new initiative announced on March 8, 2022?

First Hydrogen Corp has established a new division, First Hydrogen Energy, to lead its green hydrogen production and distribution efforts.

Which countries are targeted for First Hydrogen's green hydrogen production projects?

First Hydrogen is focusing on the UK, Italy, Germany, and Canada for its green hydrogen production projects.

Who are the new advisors for First Hydrogen Energy?

The new advisors include Rob Campbell from Ballard Power and Peter Williams from INEOS.

What is the aim of First Hydrogen's green hydrogen production?

The aim is to provide automotive customers with a guaranteed supply of green hydrogen at a fixed price.

What is the ticker symbol for First Hydrogen Corp?

First Hydrogen Corp is traded under the ticker symbol FHYDF.