First Hydrogen Corporate Update
First Hydrogen Corp. (FHYDF) is exploring expansion of its hydrogen-as-a-service (HAAS) offering through potential green hydrogen production using Small Modular Nuclear Reactors (SMRs). The company aims to install SMRs in areas with or no grid power to produce hydrogen for refueling stations. SMRs are compact nuclear systems, up to 1/10th the size of traditional reactors, offering scalable, low-carbon energy at approximately $36/MWh. This initiative aligns with First Hydrogen's mission to deliver sustainable energy solutions and support the global energy transition.
First Hydrogen Corp. (FHYDF) sta esplorando l'espansione della sua offerta di idrogeno come servizio (HAAS) attraverso la possibile produzione di idrogeno verde utilizzando Reattori Nucleari Moduli Piccoli (SMRs). L'azienda mira a installare SMR in aree con poca o nessuna connessione alla rete elettrica per produrre idrogeno per le stazioni di rifornimento. Gli SMR sono sistemi nucleari compatti, fino a 1/10 delle dimensioni dei reattori tradizionali, che offrono energia scalabile a basse emissioni di carbonio a circa $36/MWh. Questa iniziativa è in linea con la missione di First Hydrogen di fornire soluzioni energetiche sostenibili e supportare la transizione energetica globale.
First Hydrogen Corp. (FHYDF) está explorando la expansión de su oferta de hidrógeno como servicio (HAAS) a través de la posible producción de hidrógeno verde utilizando Reactores Nucleares Modulares Pequeños (SMRs). La empresa tiene como objetivo instalar SMR en áreas con poca o ninguna conectividad a la red para producir hidrógeno para estaciones de recarga. Los SMR son sistemas nucleares compactos, hasta 1/10 del tamaño de los reactores tradicionales, que ofrecen energía escalable y baja en carbono a aproximadamente $36/MWh. Esta iniciativa se alinea con la misión de First Hydrogen de proporcionar soluciones energéticas sostenibles y apoyar la transición energética global.
퍼스트 하이드로젠 코퍼레이션 (FHYDF)는 소형 모듈 원자로(SMR)를 이용한 친환경 수소 생산을 통해 수소 서비스(HAAS)의 확장을 탐색하고 있습니다. 이 회사는 전력망이 부족하거나 없는 지역에 SMR을 설치하여 연료 보급소를 위한 수소를 생산하는 것을 목표로 하고 있습니다. SMR은 기존 원자로의 1/10 크기인 컴팩트한 원자력 시스템으로, 약 $36/MWh에 스케일 가능하고 저탄소 에너지를 제공합니다. 이 이니셔티브는 퍼스트 하이드로젠의 지속 가능한 에너지 솔루션 제공 및 글로벌 에너지 전환 지원이라는 미션과 일치합니다.
First Hydrogen Corp. (FHYDF) explore l'expansion de son offre de l'hydrogène en tant que service (HAAS) par la production potentielle d'hydrogène vert à l'aide de Réacteurs Nucléaires Modulaires Petit (SMR). L'entreprise vise à installer des SMR dans des zones avec peu ou pas de connexion au réseau électrique pour produire de l'hydrogène pour les stations de ravitaillement. Les SMR sont des systèmes nucléaires compacts, jusqu'à 1/10 de la taille des réacteurs traditionnels, offrant une énergie évolutive et à faible émission de carbone à environ 36 $/MWh. Cette initiative s'aligne avec la mission de First Hydrogen de fournir des solutions énergétiques durables et de soutenir la transition énergétique mondiale.
First Hydrogen Corp. (FHYDF) erkundet die Erweiterung seines Wasserstoff-als-Service-Angebots (HAAS) durch potenzielle grüne Wasserstoffproduktion mithilfe von Kleinen Modulen Kernreaktoren (SMRs). Das Unternehmen plant, SMRs in Gebieten ohne oder mit schwachem Stromnetz zu installieren, um Wasserstoff für Betankungsstationen zu produzieren. SMRs sind kompakte nukleare Systeme, die bis zu 1/10 der Größe herkömmlicher Reaktoren haben, und bieten skalierbare, kohlenstoffarme Energie zu etwa $36/MWh. Diese Initiative steht im Einklang mit der Mission von First Hydrogen, nachhaltige Energielösungen bereitzustellen und den globalen Energiewandel zu unterstützen.
- SMR technology could provide stable power source for hydrogen production at competitive cost of $36/MWh
- Strategic expansion into areas with grid access could create new market opportunities
- Project is still in exploratory phase with no concrete implementation timeline
- Significant capital investment likely required for SMR infrastructure
Vancouver, British Columbia--(Newsfile Corp. - December 2, 2024) - First Hydrogen Corp. (TSXV: FHYD) (OTC Pink: FHYDF) (FSE: FIT) ("FIRST HYDROGEN" or the "Company") is reviewing various projects in effort to expand its hydrogen-as-a-service ("HAAS") offering. The Company is exploring the potential of producing green hydrogen using power supplied by Small Modular Nuclear Reactors (SMRs). Power grids are not able to keep up with increasing energy demand, notably several firms have entered into agreement to expand nuclear power capacity to support the operation of their data centers used to run and train generative AI models.
SMRs are compact, efficient nuclear energy systems that offer a scalable and low-carbon alternative to traditional energy sources. SMRS are much smaller than large-scale traditional nuclear reactor facilities, in some cases as small as 1/10th the size of traditional nuclear reactors (VanEck, November 6, 2024). Nuclear energy is widely recognized as a green energy source by international bodies due to its ability to produce large amounts of electricity with minimal greenhouse gas emissions. First Hydrogen seeks to install these SMRs in areas where grid power is limited or non-existent to produce hydrogen for refueling stations.
SMR-powered hydrogen production aligns with First Hydrogen's commitment to delivering innovative and sustainable energy solutions. These advancements further support the global energy transition and First Hydrogen's mission to play a pivotal role in the clean energy ecosystem.
Balraj Mann, CEO at First Hydrogen commented: "Nuclear energy provides a consistent power source for the production of hydrogen unlike solar or wind power. The cost of electricity from a SMR would be about
The Future with Zero Emission
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First Hydrogen FCEV
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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. First Hydrogen is also developing a 35MW green hydrogen production facility and vehicle assembly factory in Shawinigan, Quebec.
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; and conflicts of interest.
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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