Pure Extraction Corp.: PURX Hydrogen Powered System Strategy for Net Zero
Pure Extraction Corp. (PURX) has announced plans to implement a net zero emission strategy by introducing a hydrogen fuel cell powered supercritical CO2 extraction system. This system, designed for remote operations, is expected to be available by year-end. The Company is also developing a hydrogen fuel cell powered vehicle in collaboration with AVL Powertrain UK Ltd. and Ballard Power Systems Inc. Additionally, Pure Extraction Corp. intends to change its name to First Hydrogen Corp., pending approval, without requiring shareholder consent.
- Implementation of a net zero emission strategy with hydrogen fuel cell technology.
- Development of a mobile supercritical CO2 extractor, enhancing operational flexibility.
- Collaboration with AVL Powertrain and Ballard Power Systems indicates strong industry partnerships.
- None.
VANCOUVER, BC / ACCESSWIRE / September 27, 2021 / Pure Extraction Corp. ("PURX" or the "Company") (TSX-V:PURX)(OTC PINK:PURXF)(FSE:FIT1) is pleased to announce its move toward a net zero emission plan in its business development. The Company intends to offer a hydrogen fuel cell powered supercritical CO2 extractor system that will be zero-emission, fully mobile and non-grid reliant. The Company is reviewing hydrogen fuel cells that are available on the market today.
The fuel cell powered supercritical CO2 extraction systems will allow users to operate the systems in remote locations where there are no electrical power grids available, or the electrical power is unstable. This already developed supercritical CO2 extraction system is fully operational and can be monitored and supported remotely by the Company's in house fully integrated software operating system. The system can be used for remote online training and commissioning of the supercritical CO2 extraction system including online diagnostics of the fully automated extractor. The Company anticipates to have this new state-of-the-art Hydrogen powered Generation V extraction system available by the end of the year.
The Company is designing and developing a hydrogen fuel cell powered light commercial vehicle under two agreements with AVL Powertrain UK Ltd. and Ballard Power Systems Inc. as announced in our news release of June 11, 2021.
To better define the Company's zero-emission initiative, PURX will change its name to First Hydrogen Corp., subject to TSX-V approval. Pursuant to the provisions of the articles of the company, shareholder approval of the name change is not required, and consequently, the company is not seeking shareholder approval for the name change. There is no consolidation of the company's share capital in connection with the name change. Shareholders are not required to exchange their existing share certificates for new certificates bearing the company's new name.
On behalf of the Board of Directors of
PURE EXTRACTION CORP.
"Balraj Mann"
Director, President, Chief Executive Officer
604-601-2018
Balraj.Mann@firsthydrogen.com / Balraj@pureextraction.ca
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: Pure Extraction Corp.
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