FuelPositive Receives Government Support and Funding for Manitoba-based Project

Rhea-AI Summary

FuelPositive Corporation (NHHHF) has secured CA$300,000 from the Canadian Agricultural Partnership to develop three onsite green ammonia demonstration systems. These systems aim to eliminate carbon emissions in ammonia production while stabilizing nitrogen fertilizer prices for farmers. Partnering with local farmers, the initial system will be tested over a year, covering various seasonal conditions. The project supports Canadian agricultural producers in reducing their carbon footprint and enhancing competitiveness in the market.

Positive

• Approved CA$300,000 funding for green ammonia systems from the Canadian Agricultural Partnership.
• Eliminates carbon emissions during ammonia production, promoting sustainability.
• Increases supply and price certainty for nitrogen fertilizer, reducing risks for farmers.
• Potential to enhance farmers' competitive edge by marketing sustainable products.

Negative

• None.

TORONTO, Dec. 14, 2022 (GLOBE NEWSWIRE) -- FuelPositive Corporation (TSX.V: NHHH) (OTCQB: NHHHF) (“FuelPositive” or the “Company”) is pleased to announce it has been approved to receive CA$300,000 through the Canadian Agricultural Partnership towards building the first of its three at-scale demonstration systems. The onsite, containerized green ammonia production systems will not only eliminate carbon emissions from the production of ammonia, but the onsite model also provides farmers with control over supply and timing and stabilizes the price of nitrogen fertilizer in their operations. FuelPositive has partnered with Tracy and Curtis Hiebert to pilot up to all three versions of the FuelPositive demonstration systems on their 11,000-acre crop farm, southwest of Winnipeg, Manitoba, Canada. The system will produce green anhydrous ammonia from water and air, using sustainable electricity from Manitoba’s low-cost, renewable electrical grid. The green ammonia will be used as fertilizer on the farm in the spring of 2023. Ultimately, it will also be used as a clean fossil fuel replacement for farm machinery, heating and grain drying.

“Investments in clean technology are helping producers stay competitive and become more resilient to environmental stressors and climate change,” said the Honourable Marie-Claude Bibeau, federal Minister of Agriculture and Agri-Food. “This investment in FuelPositive builds on innovations already being adopted by Manitoba’s producers to reduce their carbon footprint while sustainably feeding the world.”

“Our government strives to provide greater cost certainty and to reduce risk for agricultural producers, and if proven effective, Fuel Positive’s technology for generating anhydrous ammonia at farms would assist in meeting these objectives,” said Manitoba Agriculture Minister Derek Johnson. “The production of hydrogen fuel for farm equipment would also help to reduce greenhouse-gas emissions. We are pleased to invest in the testing of this technology in Manitoba’s winter conditions.”

“We are absolutely thrilled and encouraged to be receiving this support from the Governments of Canada and Manitoba for our disruptive technology, our onsite business model, and the pilot project to demonstrate our first on-farm system,” said Ian Clifford, FuelPositive CEO and Board Chair. “We chose to start off in Manitoba because of its clean electrical grid, the large crop farms there, and the need for an affordable and stable carbon-free fertilizer supply for its farmers and for food security. It’s the ideal environment for us.”

Once on the Hiebert’s farm, the first demonstration system will be heavily monitored for a full year, which will provide results under dramatically different operational and weather conditions – from the frigid temperatures of the winter, through the potentially heavy floods of spring, to the blistering heat of the summer. Those ongoing results will shape future systems being built concurrent with the initial demonstration system.

In a letter to FuelPositive supporting the project, Manitoba Agriculture, who delivers Canadian Agricultural Partnership funding in that province, summarized the benefits of the FuelPositive system as:

• Eliminating greenhouse gases from the production of ammonia for fertilizer and transport of ammonia from the point of manufacturing to farms
• Increased certainty of nitrogen supply and prices for farmers, thus reducing external pressures (e.g., geopolitical risk, supply shortages and price risk)
• Clean fuels for farm machinery, heating and grain drying
• Positive momentum for innovation at the farm level to put more control in the hands of farmers to reduce their carbon footprint
• Increased competitiveness for farmers to position products as more sustainable in the marketplace, with the potential for premiums
• Increased public trust in agriculture from a carbon footprint perspective.

FuelPositive’s onsite, containerized green ammonia production system offers Canadian-made, clean technology to decarbonize farms in Canada and around the world. The demonstration system will be fully validated and farm-ready before being moved to the Hiebert’s farm. The demonstration system will be housed in three 20-foot containers and will require a bulk ammonia storage tank, as well as a rigorous safety system of barriers, fencing, lighting and surveillance cameras. Training will be delivered for safe handling of ammonia, system operation, as well as system maintenance, all following the standard code of practice for anhydrous ammonia as published by Fertilizer Canada. Municipal approval for the on-farm system has already been secured.

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 change the course of 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 supply security while eliminating carbon emissions from the production process. The first customers will be farmers. Farmers use 80% of the traditional 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/.

About the Canadian Agricultural Partnership

The Canadian Agricultural Partnership is a five-year, $3-billion commitment by Canada's federal, provincial and territorial governments that supports Canada’s agri-food and agri-products sectors. This includes a $2-billion commitment that is cost-shared 60% federally and 40% provincially/territorially for programs that are designed and delivered by provinces and territories.

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

FAQ

What is the funding amount FuelPositive received for its green ammonia systems?

FuelPositive received CA$300,000 from the Canadian Agricultural Partnership.

When will the green ammonia demonstration systems be operational?

The systems will begin production in the spring of 2023.

What are the benefits of the green ammonia production system for farmers?

The system will stabilize nitrogen supply and prices, reduce carbon emissions, and enhance competitiveness.

How does the green ammonia technology impact carbon emissions?

It eliminates carbon emissions from ammonia production, contributing to environmental sustainability.

Where is FuelPositive implementing its first green ammonia production system?

The first system will be implemented on an 11,000-acre farm southwest of Winnipeg, Manitoba.