Vancouver, British Columbia - April 17, 2023 - (Newsfile Corp.) (Investorideas.com Newswire) First Hydrogen Corp. (TSXV: FHYD) (OTC Pink: FHYDF) (FSE: FIT) ("FIRST HYDROGEN" or the "Company") releases its vision for a zero-emission Recreational Vehicle (RV) as it explores the applications for alternative fuels across different vehicle classes. Designed to have spacious living quarters, a large front windshield and good ground clearance, the campervan concept prioritises driver comfort and experience. The RV concept illustrates how First Hydrogen is exploring how fuel cell electric technology could be applied to larger vehicles.
The concept has been developed in partnership with global mobility experts EDAG Group. The release follows the reveal of First Hydrogen's concept for its Generation II light commercial vehicle (LCV). The Company is also developing concepts for vehicles with a winch or towing capability and that have trailers or cargo boxes.
Benefits of hydrogen for leisure vehicles
Fuel cell electric vehicles (FCEVs) can cover larger ranges and manage heavier payloads loads than equivalent battery electric vehicles (BEVs); attributes that are attractive for the recreational vehicle market. RVs travel long distances, often into the wilderness away from refuelling or charging infrastructure, making long range especially appealing. Refuelling a FCEV takes mere minutes, approximately the same amount of time as a petrol or diesel vehicle, whereas recharging electric vehicles can take hours, which inhibits the freedom that van life demands. Additionally, in the same way that delivery vans might need to run refrigeration units and emergency vehicles power medical equipment; recreational vehicles run auxiliary loads such as cookers and water boilers, applications suited to FCEVs. BEVs require more battery cells to power these loads, adding to overall vehicle weight, depleting the vehicles' energy more quickly.
The recreational vehicle market
The market for recreational vehicles has grown hugely in the past few years, the North American market was valued at US$56.29 billion in 2022 and is anticipated to reach US$107.6 billion by 20321. Similarly, the European leisure market is growing, with record sales of 260,000 new vehicles in 2021 and sustained high demand in 2022, with vehicle sales slightly reduced due to availability and issues in the global supply chain2. Typically, leisure vehicle drivers are more environmentally conscious and already adopting hybrid vehicles or greener fuel alternatives such as biofuels to reduce their carbon footprint. First Hydrogen sees an opportunity for hydrogen-powered vehicles to support this growing market reach zero emissions alongside commercial vehicle sectors.
The news follows the announcement that First Hydrogen is successfully starting 12-18-month-long commercial vehicle trials with its Generation I fuel cell LCV. In collaboration with the UK Aggregated Hydrogen Freight Consortium (AHFC), road trials are commencing with award-winning fleet management company, Rivus.
Steve Gill, CEO of Automotive for First Hydrogen, says: "The First Hydrogen campervan is an example of how we see hydrogen fuel cell and other electric vehicle technologies having wider applications. We are successfully demonstrating the potential fuel cell technology has in the LCV class but are exploring how the technology can benefit other sectors including leisure vehicles. Connecting with nature is incredibly important for recreational vehicle owners and this concept indicates how a hydrogen vehicle could help people preserve the environment while enjoying van life."
Bernat Costa, Design Director at EDAG Spain, comments: "The design for the camper shares similar design principles with the Generation II series; it is a clean, modern look that prioritises function and acknowledges the van's green fuel technology. It also shares the daytime-running light configuration, which makes the campervan instantly recognisable as a First Hydrogen vehicle. Ultimately, it incorporates features that are desirable for leisure vehicles, such as good vehicle lighting, which is especially useful for vehicle visibility when parked on the roadside or as a source of light when camped away from civilisation."
The Company has engaged BTV – Business Television to improve exposure to capital markets. The engagement is for a period of six weeks, as consideration, the Company has agreed to pay a fee of $52,090. BTV is a TV production and Digital Marketing Agency that helps issuers increase their brand awareness to a national retail and institutional investor audience through unique offerings. Services provided under the contract with First Hydrogen include digital marketing on well-known financial online platforms, and national television broadcast on BNN Bloomberg and FOX Business News. To the company's knowledge, BTV does not have any direct interest in the company or its securities.
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 is designing and building 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. 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. As well, the Company is pursuing opportunities in green hydrogen production and distribution in the UK, EU and North America.
About EDAG Group (EDAG.com)
EDAG Group is the world's largest independent engineering service provider to the global mobility industry. We regard mobility as a fully integrated ecosystem, and offer our customers technological solutions for more sustainable, emission-free and intelligently networked mobility. With a global network of some 60 branches, EDAG Group provides engineering services in the Vehicle Engineering, Electrics/Electronics and Production Solutions segments.
With our interdisciplinary expertise in the fields of software and digitalization, we possess the key skills to help actively shape the dynamic transformation process the mobility industry is currently undergoing. Digital features, autonomous driving, artificial intelligence, alternative powertrains, new mobility concepts and the vision of a networked smart city have become an integral part of our portfolio. Embedded in EDAG's own 360° degree approach to the development of complete vehicles and production facilities, we are a competent partner for sustainable mobility projects. It is in the DNA of the company to actively shape the future of mobility and transfer new technologies and concepts into series production. Today, EDAG is one of the TOP 20 IT service providers in the German mobility sector.
Our customers include leading international OEMs, tier 1 suppliers and startup companies from the automotive and non-automotive industries, all of whom we serve globally with our workforce of approximately 8,000 experts in 360-degree engineering.
In 2021, EDAG generated sales of €687 million and at December 31, 2021, EDAG employed a global workforce of 7,880 (including apprentices).
On behalf of the Board of Directors of
FIRST HYDROGEN CORP.
Chairman & Group CEO
First Hydrogen Corp.
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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