Vancouver, British Columbia - February 16, 2022 - (Newsfile Corp.) (Investorideas.com Newswire) First Hydrogen Corp. (TSXV: FHYD) (OTC Pink: FHYDF) (FSE: FIT) ("FIRST HYDROGEN" or the "Company") is pleased to announce its' subsidiary First Hydrogen Limited has entered into a Research and Collaboration Agreement for an initial 5-year period with the University of Cambridge (the "University") in the United Kingdom. The collaboration with the University of Cambridge has as its centrepiece, the joint development of hydrogen related technologies to unlock the hydrogen economy with particular focus on the automotive industry, hydrogen production and fuel distribution industries.
The University of Cambridge team will be led by Professor Seamus Higson of the Department of Chemical Engineering and Biotechnology, a world leading institution in energy transition and the department that first developed the hydrogen fuel cell, which was subsequently used in the Apollo moon missions.
The initial project, which First Hydrogen will be developing with the University, is an AI software learning tool to harvest user and supplier information related to hydrogen usage to better inform hydrogen business cases and help direct the significant investments into hydrogen mobility and related infrastructure. This dynamic tool is expected to be a source of additional revenues for First Hydrogen and to give the Company a unique data advantage to help it develop its own technology and infrastructure in the hydrogen sector.
Professor Higson said: "I am delighted to have reached an agreement to work with First Hydrogen in a field where we see huge growth and a conversion of the automotive industry to full scale adoption of hydrogen as a primary fuel source. This collaboration between my university and First Hydrogen also contributes to the United Kingdom leading the way to decarbonisation and reaching our ambitious net zero targets."
Nicholas Wrigley, Chairman of First Hydrogen UK said: "We are very pleased to announce this industrial and commercial partnership with Professor Higson and such a prestigious and world-renowned university as the University of Cambridge. The engineering teams within the University are leading the way to decarbonising our futures and their World class researchers will help First Hydrogen become a leading player in the hydrogen automotive and technology businesses."
Professor Clemens Kaminski, Head of the Department of Chemical Engineering and Biotechnology at the University of Cambridge, says: "This partnership exemplifies the opportunities that can arise when academia combines with commercial entities. The hydrogen economy is rapidly evolving, and this project offers an excellent opportunity to solve industrial problems and reduce impact on the environment. I am absolutely delighted that this venture is going ahead."
About First Hydrogen Corp.
First Hydrogen Corp. is a Vancouver and London UK based company focused on zero-emission vehicles and supercritical carbon dioxide extractor systems. The company is designing and developing a hydrogen-fuel-cell-powered light commercial demonstrator vehicle under two agreements with AVL Powertrain and Ballard Power Systems Inc. The LCV will have a range of 500+ kilometres. First Hydrogen is developing refueling capability working with FEV Consulting GmbH, the internal automotive consultancy of FEV Group of Aachen Germany.
On behalf of the Board of Directors of
FIRST HYDROGEN CORP.
Chairman & Chief Executive Officer
First Hydrogen Corp.
First Hydrogen Limited
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.
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