First Hydrogen On-Road Trial Update
First Hydrogen has announced positive progress in their fourth hydrogen fuel cell vehicle (FCEV) trial. The trial, which started earlier in the month, is on track and a detailed report is expected soon. Additionally, the company is collaborating with several firms from a recent event and engaging with a major industrial fleet operator in Mexico to upgrade fleets to hydrogen fuel cells and establish a comprehensive hydrogen refueling infrastructure.
Mexico's hydrogen industry is expanding, with around 15 projects worth $20 billion USD in development, potentially adding nearly 7 GW of green hydrogen. First Hydrogen's FCEVs have demonstrated strong performance, achieving outputs of 60kW and a range of 630 km, suitable for demanding tasks.
Moreover, First Hydrogen has partnered with Martin City Studios to produce and air audio interviews featuring their senior management on multiple platforms. The cost for these services is $6,500 USD.
- Fourth hydrogen fuel cell vehicle (FCEV) trial is progressing well.
- Detailed report on the trial expected soon.
- Collaboration with multiple companies from the HORIBA MIRA track day.
- Initiated discussions with a major industrial fleet operator in Mexico.
- Plan to upgrade fleets in Mexico to hydrogen fuel cells and establish a country-wide hydrogen refueling infrastructure.
- Mexico has 15 hydrogen projects under development, valued at $20 billion USD.
- First Hydrogen's FCEVs achieved a power output of 60kW and a range of 630 km.
- New marketing initiative with Martin City Studios to produce and air audio interviews.
- No common shares held by Martin City Studios, ensuring unbiased content.
- No specific data on financial performance or revenue reported in the press release.
- Marketing expense of $6,500 USD for audio interviews without clear metrics on ROI.
- Lack of details on the timeline and potential challenges for the Mexican fleet upgrade and refueling infrastructure project.
Vancouver, British Columbia--(Newsfile Corp. - May 14, 2024) - First Hydrogen Corp. (TSXV: FHYD) (OTC Pink: FHYDF) (FSE: FIT) ("FIRST HYDROGEN" or the "Company") is pleased to announce that its fourth hydrogen-fuel-powered vehicle (FCEV) trial (see news release of May 6, 2024) is proceeding well, a report will be ready later this month. The Company is working with more companies, that attended the HORIBA MIRA track day, on finalizing details of FCEV trials.
The Company has also started discussions with a country-wide industrial fleet operator in Mexico, to update their fleets to hydrogen powered fuel cells as well as adding additional FCEVs to their fleet and to deploy a country-wide Hydrogen Refueling Stations (HRS) infrastructure. Mexico's hydrogen trade body, Asociación Mexicana de Hidrógeno (AMH) states there are at least 15 projects under development in Mexico, worth a total capex investment of US
First Hydrogen has demonstrated how its fuel cell's powertrain delivers power when needed, achieving outputs of 60kW in transient accelerations, and in previous trials the vehicle has achieved a peak range of 630km (400 miles). This indicates the vehicle can manage more demanding duties, such as carrying heavier payloads, driving over hilly terrain or powering auxiliary equipment (onboard power).
Marketing
The Company has entered into an agreement with Martin City Studios LLC ("Martin Studios"), where Martin Studios will produce two audio interviews with First Hydrogen's senior management with Ellis Martin to be aired on Money Talk Radio and The Ellis Martin Report (ellismartin.com). Martin Studios is a company headquartered in New Mexico, United States, dedicated to audio interviews. The cost of the services is
A recording of the interview can be found at: https://youtu.be/sFPxV0cE6ws
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https://www.youtube.com/watch?v=sFPxV0cE6ws
The Future with Zero Emission
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First Hydrogen FCEVs
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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 hydrogen-fuel-cell-powered light commercial vehicles ("FCEV") in partnership with AVL Powertrain and Ballard Power Systems Inc. The FCEV has a range of 630+ kilometres. These vehicles are being trialled 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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