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Hydrogen Stock News - First Hydrogen (TSXV: FHYD) (OTC Pink: FHYDF) Commences Trials with Rivus

 

Vancouver, British Columbia - May 2, 2023 - (Newsfile Corp.) (Investorideas.com Newswire) First Hydrogen Corp. (TSXV: FHYD) (OTC Pink: FHYDF) (FSE: FIT) ("FIRST HYDROGEN" or the "Company") announces the handover of its hydrogen fuel cell powered vehicle (FCEV) after the successful completion of safety and mileage accumulation tests. The Company's FCEV has now been delivered to Rivus' Support Centre in Birmingham, UK. First Hydrogen's engineers joined the Rivus team for driver training on April 27th and 28th. For the next month, the FCEV will be driven on selected routes and over varied terrain around the Birmingham and South Yorkshire. It will carry payloads of various sizes to measure vehicle performance on real-world conditions. Rivus supports some of the UK's largest and most critical fleets and manages approximately 120,000 vehicles, including approximately 85,000 LCVs.

Onboard instruments will collect valuable data on fuel consumption, mileage and vehicle efficiency. This information will help First Hydrogen to optimise vehicle configuration and enhance Total Cost of Ownership (TCO) data. Furthermore, Rivus will be able to directly compare First Hydrogen's FCEV with battery electric vehicles (BEV) and traditional internal combustion engine (ICE) vehicles when driving the same routes and under the same driving conditions. From its findings, Rivus will produce its own independent analysis of the performance of First Hydrogen's hydrogen-powered vehicle. The results are intended to provide Rivus customers and fleet managers with insight into the benefits and practicality of hydrogen as an alternative fuel.

First Hydrogen has also installed GPS and safety technology using a cloud-based system enabling its engineers to access information on the vehicle's use, location, and status in real-time. This will ensure the safety and security of drivers as well as optimal vehicle performance in a range of driving conditions.

The vehicle trials have been co-ordinated with the UK Aggregated Hydrogen Freight Consortium (AHFC), an initial 16 major fleet operators from industries including grocery, delivery, utilities, and healthcare have already registered an interest in taking part in the 12-18-month vehicle evaluation.

Steve Gill, CEO Automotive at First Hydrogen, comments: "We hope that the team at Rivus will enjoy putting our vehicle through its paces and experiencing first-hand how zero emission technology can perform in vehicles of this size. Rivus is experienced in working with fleet vehicles and supporting fleet managers every day. We trust that their feedback will help us to make improvements and help us to create a zero-emission mobility solution that meets fleet managers' demands."

Thomas Maerz, Chief Development Officer at Rivus, says: "Our Alternative Fuel team are eager to see how the fuel cell LCV performs. We have designed several routes and duty cycles, which will test how vehicles run under different driving conditions; First Hydrogen's LCV will be undertaking the same exercises we have completed with BEV and ICE vehicles allowing us to deliver accurate assessments on performance to our customers. We can't wait to get started."

Balraj Mann, First Hydrogen Group CEO, added, "Over the past weeks and months, we went through and accomplished a very positive development phase. Our dedicated team and partners worked hard to bring us to where we are today. We are a step closer to a more sustainable future in transportation."

First Hydrogen's Allan Rushforth and Rivus team.

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 400+ 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.

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