First Hydrogen Reports Stellar Performance of Its Hydrogen-Powered LCV Under Real-World Conditions

Vancouver, British Columbia--(Newsfile Corp. - May 15, 2023) - First Hydrogen Corp. ("FIRST HYDROGEN" or the "Company") (TSXV: FHYD) (OTC: FHYDF) (FSE: FIT) confirms its hydrogen-fuel-cell powered light commercial vehicles (LCV) are performing even better than predicted. In the first phase of commissioning, the Company's LCVs accumulated 6,000km on UK roads, including mileage around London's M25 motorway. The data logging supports vehicle range simulations, which exceed a 500km range. The vehicle is currently performing with excellent efficiency, including both urban, extra-urban (which includes driving at higher speeds) and highway operations. First Hydrogen's LCV fuel consumption figures seen in many driving scenarios are under 2kg/100km, and in mostly urban driving this is 1.5kg/100km.

First Hydrogen's LCV demonstrates how hydrogen fuel can provide fleet managers with zero-emission vehicles that deliver the range, payloads, and fast refuelling times they require. The initial road tests confirm that the hydrogen powertrain, which has a maximum power of 100kW, is powering the vehicle to continuously run on UK public roads at the maximum speed limit.

Steve Gill, CEO of First Hydrogen Automotive, says: "We're thrilled that initial road testing has shown that the vehicle is not only meeting performance requirements but exceeding the early expectations we set for real world driving. The efficient fuel consumption means that our vehicle can go further on a single tank of fuel. This will save drivers time with fewer refuelling stops and lower running costs, reducing Total Cost of Ownership, which will make our LCVs more attractive to fleet operators and potential customers."

First Hydrogen's vehicle route around London and the South East of England
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8330/166027_74da59ef5401c828_001full.jpg

Evaluation is continuing during operational trials, which have commenced with fleet management provider, Rivus. This is the first of a series of operator trials that will continue for the rest of the year with other blue-chip UK-based fleets. Mileage accumulation is enabling First Hydrogen to gather performance data, including information on fuel consumption, to validate different vehicle operating parameters.

Rivus' drivers are testing the vehicle's performance with different payloads around roads in Birmingham, the West Midlands, and South Yorkshire. The trials will also draw direct comparisons between battery electric and diesel or petrol-powered vehicles. Safety and security features installed in the vehicle enable First Hydrogen's team to monitor its location and ensure the vehicle can be maintained when required. There is also reporting technology on board, so drivers and fleet managers can keep track of refuelling frequency and record any damage or road incidents that may occur, providing added reassurance to fleet operators and drivers during the trials.

First Hydrogen's vehicle performance during journey around London and the South East of England
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8330/166027_74da59ef5401c828_002full.jpg

Onboard telematics and a GPS tracker upload vehicle data to the cloud, providing First Hydrogen's engineers with close to real-time analysis, enabling them to monitor vehicle performance, prevent potential issues and ensure it is secure. These instruments will remain onboard throughout the commissioning process, which includes the programme of operational trials established with members of the UK Aggregated Hydrogen Freight Association (AHFC) including Rivus. The trials provide fleet operators with the opportunity to evaluate fuel cell electric vehicles (FCEV) alongside their own fleets in real-world operations.

About First Hydrogen Corp. (FirstHydrogen.com)

First Hydrogen Corp. is a Vancouver and London UK-based company focused on zero-emission vehicles, green hydrogen production and distribution and supercritical carbon dioxide extractor systems. The Company has designed and built hydrogen-fuel-cell-powered light commercial demonstrator vehicles ("LCV") under two agreements with AVL Powertrain and Ballard Power Systems Inc. The LCV will have a range of 500+ kilometres. These vehicles are currently being trialed with an initial 16 fleet operators in the United Kingdom. At the same time, the company has launched its bespoke vehicle design phase which will develop its fleet of proprietary zero-emission vehicles. First Hydrogen is also developing refueling capability working with FEV Consulting GmbH, the automotive consultancy of FEV Group of Aachen Germany. The Company is also pursuing opportunities in green hydrogen production and distribution in the UK, EU and North America.

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; 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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/166027