First Hydrogen 1st Quarter Update

First Hydrogen 1st Quarter Update

Vancouver, B.C., April 3, 2024 Vancouver, British Columbia – First Hydrogen Corp. (“FIRST  HYDROGEN” or the “Company”) (TSXV: FHYD) (OTC: FHYDF) (FSE: FIT) is pleased to provide an  update on corporate developments for the 1st quarter of 2024. The Company’s hydrogen-powered fuel cell  light commercial vehicle (FCEV) recently completed a successful trial with Wales & West Utilities (WWU), 

the trial also established a hydrogen ecosystem partnership for mobile refueling. First Hydrogen is now  working with multiple fleet operators to help achieve their zero emission objectives by increasing the number  of FCEVs and/or converting existing vehicles to FCEV. A summary of ongoing developments as follows: 

North America 

Quebec 

Significant and positive interest has been shown from fleet operators in Quebec. The Quebec operators note  the need for Hydrogen vehicles as an alternative to battery electric vehicles during cold weather which limits  the battery life in a battery-only vehicle. The Company is expanding and developing additional demonstrator  FCEVs to showcase the hydrogen potential to North American fleets, as well, the Company proposes to build 

a vehicle assembly facility and green hydrogen production plant in Shawinigan, Quebec. The assembly facility target will be for annual production of up to 25,000 vehicles for distribution throughout North America and will represent a major boost to green technology jobs in the region. 

Trials 

Three FCEV trials have been completed during which the FCEV was subject to various real-world conditions. During the initial vehicle testing and the Rivus trial, the Company’s FCEV was driven in and around London.  For the SSE plc (SSE) trial, the FCEV was driven in and around Aberdeen, Scotland. The most recent trial  with gas distribution network Wales & West Utilities, the Company’s FCEV completed more than 2,000 km  (>1,200 miles) over the four-weeks, travelling up to 189 km (117 miles) per day in some of South Wales’  coldest conditions. The FCEV demonstrated its’ capability for demanding duties, such as carrying heavier  payloads, towing and powering auxiliary equipment (onboard power). There was no decrease in vehicle  performance or range when operating in colder temperatures. Drivers from all three trials noted the FCEV’s  drivability ease, quick refueling, and range (630 km / 390 mi, on a single refueling). 

Discussions with various fleet operators to add FCEVs to fleets and/or converting existing fleet vehicles to  hydrogen-powered fuel cells utilizing the Company’s powertrain. 

First Hydrogen is planning details for the next batch of trials which will include some of the largest companies  in Europe and the world. 

Hydrogen ecosystem 

For the WWU trial, the Company partnered with Protium Energy Solutions (Protium) and Hyppo Hydrogen  Solutions (Hyppo), for the WWU trials using a re-deployable refueller and delivered green hydrogen. This  “ready-to-go” hydrogen ecosystem, utilizing Hyppo’s Fuel Cell Systems HyQube, will be able to demonstrate hydrogen mobility is possible for fleet operators. First Hydrogen intends to collaborate with Fuel Cell Systems  for North American trials.  

Balraj Mann, Group CEO, First Hydrogen comments: “We are building strong relationships with  governments, potential customers and suppliers aligning the need to reduce emissions and First Hydrogen’s product offering. Francois Morin, VP of Corporate Development, has quickly expanded our presence in North  America. The green hydrogen market in North America is gaining considerable strength, for instance, the U.S.  Department of Energy announced a $7- billion program to launch seven clean hydrogen hubs across U.S as  part of U.S. National Clean Hydrogen Strategy and Roadmap. In Mexico, investment funds are starting to flow  in the country developing its vast green hydrogen potential. Finally, in Quebec, green hydrogen is one solution  for the province to achieve carbon neutrality by 2050.”

First Hydrogen: The Future with Zero Emissions

About First Hydrogen Corp. (FirstHydrogen.com

First Hydrogen Corp. is a Vancouver, Montreal and London UK-based company focused on zero-emission  vehicles, green hydrogen production and distribution. The Company has designed and built hydrogen-fuel cell-powered light commercial vehicles (“FCEV”) in partnership with AVL Powertrain and Ballard Power  Systems Inc. The FCEV has a range of 630+ kilometres. These vehicles are being trialled with fleet operators  in the United Kingdom. First Hydrogen is also developing a 35MW green hydrogen production facility and  vehicle assembly factory in Shawinigan, Quebec. 

On behalf of the Board of Directors of  

FIRST HYDROGEN CORP.
“Balraj Mann”
Chairman & Chief Executive Officer

Contacts:

North America
Balraj Mann, Chairman & Chief Executive Officer
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.

First Hydrogen Achieves Record Distances During Fcev Trials With Wales  & West Utilities

First Hydrogen Achieves Record Distances During Fcev Trials With Wales  & West Utilities

Vancouver, B.C., March 18, 2024 Vancouver, British Columbia – First Hydrogen Corp. (“FIRST  HYDROGEN” or the “Company”) (TSXV: FHYD) (OTC: FHYDF) (FSE: FIT) has successfully completed  hydrogen fuel cell-powered vehicle (FCEV) trials with gas distribution network Wales & West Utilities  (WWU). WWU is exploring zero emissions vehicle technology to suit its operational requirements and the  trials provided the transport team with the opportunity to experience the benefits of the Company’s FCEV  first-hand. 

The Company’s FCEV completed more than 2,000 km (>1,200 miles) over the four-week trial, travelling up  to 189 km (117 miles) per day in some of South Wales’ coldest conditions. The FCEV vehicle demonstrated  its’ capability for demanding duties, such as carrying heavier payloads, towing and powering auxiliary  equipment (onboard power), as well as, the full power capability of the fuel cell module, with outputs higher  than 60kW in transient accelerations. The trial had already shown there was no decrease in vehicle  performance or range when operating in colder temperatures. The data recorded will provide great insight  into the FCEV’s performance in winter conditions.  

More detail on the FCEV’s deployment with WWU can be seen here.  

Driver feedback  

The FCEV was shared by two drivers from WWU’s Network Emergency & Metering Services team who are  responsible for emergency metering work for more than 7.5 million customers across Wales and the south  west of England. Most of the vehicle’s journeys were travelling to customer call outs, averaging 5-6 visits per  day. The team has to respond quickly to calls and often covers long distances while transporting bulky  equipment needed for repairs.  

Alun Jones, First Call Operative (FCO) for WWU and driver in First Hydrogen’s trials says: “First  Hydrogen’s van is lovely to drive and allowed us to get on with our job. The fact you can quickly refuel rather  than charge up overnight is a massive advantage for us as sometimes we respond to calls from our homes in  the middle of the night. I can definitely see the hydrogen vans working at WWU in terms of the efficiency we  need.” 

Steve Morgan, FCO for WWU and driver in the vehicle trials, says: “Our van is everything for us; it’s our  office and it’s how we transport our equipment and charge our laptops and phones so we can respond to call  outs. Therefore, we need vehicles that are comfortable and reliable and that can carry everything we need. We  do a lot of miles so also need the range.” 

Trial feedback 

Stephen Offley, Transport Manager for WWU comments: “We are impressed with how the van operates  and its overall performance – particularly as this is a prototype vehicle and we were breaking new ground by  creating our own hydrogen vehicle ecosystem. Testing the vehicle with our FCOs meant we could demonstrate  its use in a front-line service role and provide credible findings for us to share with our stakeholders and other  fleet managers. The data generated from the trials also gives us a case to push for fixed hydrogen infrastructure  in the area so we can benefit from faster refuelling and operational simplicity.”

Generating data to fuel zero emission adoption 

Crucially, the trials have provided First Hydrogen and WWU with important data that will help to inform  future development. 

Steve Gill, Executive Director Automotive, First Hydrogen, says: “We’re thrilled with the feedback from  Wales & West Utilities. Having covered more miles in a single trial than ever before, we have generated a  significant amount of vehicle data. Sharing the van between two drivers, neither of whom has driven a zero  emission vehicle before, has given us insight into how different driving styles can affect performance. By  reviewing this data and speaking to the WWU team, we have identified further opportunities to improve fuel  consumption and optimise efficiency. 

“We have also gained valuable data, which enables us to model Total Cost of Operations (TCO), key  information for fleet operators considering a transition to hydrogen fuel. We have presented our initial findings  to the WWU board who responded positively and are keen to progress with next steps.” Importantly, these trials proved that hydrogen mobility is still possible for fleet operators without access to  fixed hydrogen refuelling infrastructure. The trials were supported by Protium Energy Solutions, which  provided green hydrogen to fuel the vehicle and Hyppo Hydrogen Solutions, who supplied a re-deployable  hydrogen refuelling unit. 

DataHorizzon Research reported the global hydrogen fuel cell vehicles market is projected to grow from  US$2.2 billion (£1.7 billion) in 2023 to US$82.1 billion (£64.2 billion) by 2032, at 49.1% CAGR. It anticipates  that fleet operators, such as WWU, will drive zero emission vehicle sales – which includes hydrogen fuel cell  commercial vehicles – as they strive to decarbonise in line with government mandates to phase out fossil fuel  vehicles by 2035. 

FIRST HYDROGEN CORP.
“Balraj Mann”
Chairman & Chief Executive Officer

Contacts:

North America
Balraj Mann, Chairman & Chief Executive Officer
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.

FIRST HYDROGEN’S VEHICLE TRIALS WITH WALES & WEST UTILITIES IMPRESS AS TEMPERATURES FALL

FIRST HYDROGEN’S VEHICLE TRIALS WITH WALES & WEST UTILITIES IMPRESS AS TEMPERATURES FALL

Vancouver, B.C., February 26, 2024 Vancouver, British Columbia – First Hydrogen Corp. (“FIRST  HYDROGEN” or the “Company”) (TSXV: FHYD) (OTC: FHYDF) (FSE: FIT) is pleased to announce initial  findings from month-long vehicle trials with gas distribution network, Wales & West Utilities (WWU), which  show remarkable performance from the Company’s hydrogen-powered-fuel-cell vehicle (FCEV). The insight  collected halfway through the trials shows the advantages of First Hydrogen’s FCEV in real world operation  with no decrease in performance or range when operating in colder temperatures.  

Data collected from onboard telematics, over 1,000 km, show the first-of-its-kind vehicle has been operating  for between 6 and 7 hours per day in temperatures of between 2°C (36°F) and 17°C (63°F), without impacting  range. This is a key performance indicator for many fleet operators exploring zero emissions vehicle solutions.  Battery electric vehicles (BEVs) notably suffer with battery degradation in cooler or hotter climates. A 2023  study by the Norwegian Automobile Federation showed that BEVs running in colder weather dropped an  average of 20% from the Worldwide Harmonised Light Vehicle Test Procedure (WLTP) range – which is  calculated from the vehicle operating at 23°C without auxiliaries such as heating or air conditioning turned  on. This can increase to a 40% drop for vehicles with older batteries or when heating or air conditioning are  operating.  

Such variation in range makes it challenging for fleet operators to effectively deploy BEVs in certain duty  cycles. For organisations operating in cooler regions, such as south Wales, relying on predictable range  expectations is business critical. WWU operates year-round to deliver vital gas network services for more  than 7.5 million customers across Wales and the south west of England and in winter months demands for its  fleet vehicles to respond to gas emergencies and maintain the gas network are at their peak.  

More detail on the FCEV’s deployment with WWU can be seen here: http://tinyurl.com/mvu8m644. 

First Hydrogen has also demonstrated how its fuel cell’s powertrain delivers power when needed, achieving  outputs of 60kW in transient accelerations and in previous trials the vehicle has achieved a peak range of  630km (400 miles). This indicates the vehicle can manage more demanding duties for WWU, such as carrying  heavier payloads, driving over hilly terrain or powering auxiliary equipment (onboard power).  

Maximum vehicle power achieved during WWU trial on 5 February 2024 

The trials with WWU are supported by Protium Green Energy Solutions and Hyppo Hydrogen Solutions.  Together with First Hydrogen, they have created a hydrogen refuelling ecosystem to provide the infrastructure  WWU needs for vehicle deployment.

– 2 – 

Steve Gill, Executive Director Automotive, says: “Thanks to the team at Wales & West Utilities, who have  worked closely with our engineers, we have been able to collect more data from this deployment than in  previous trials. The trials are generating interesting insight we can use to update our Total Cost of Operation,  which is key when securing purchase interest from prospective customers. 

“One of the main complaints we hear from BEV drivers is the disparity between WLTP range and performance  under real world conditions. The fact that our prototype vehicle is performing as expected during real life  operations is a strong selling point for fleet operators and builds confidence in FCEVs.” 

Stephen Offley, Transport Manager at Wales & West Utilities, says: “We are impressed with the  performance of First Hydrogen’s FCEV and the trials are giving us a real insight into the benefits and potential  use of hydrogen vehicles in our fleet. For fleet managers it is important to have a reliable and repeatable range  so we can plan daily operations without adjusting for colder weather and building in more time for recharging.  February is one of the coldest months in south Wales and one of WWU’s busiest for emergency call outs, yet  the cooler temperatures have not impacted the vehicle’s ability to respond to all the engineer visits we need it  to.”  

To learn more about First Hydrogen’s FCEV trials with Wales & West Utilities, watch this short video:  http://tinyurl.com/mvu8m644 

About First Hydrogen Corp. (FirstHydrogen.com) 

First Hydrogen Corp. is a Vancouver, Montreal and London UK-based company focused on zero-emission  vehicles, green hydrogen production and distribution. The Company has designed and built hydrogen-fuel cell-powered light commercial vehicles (“FCEV”) in partnership with AVL Powertrain and Ballard Power  Systems Inc. The FCEV has a range of 630+ kilometres. These vehicles are being trialled with fleet operators  in the United Kingdom. First Hydrogen is also developing a 35MW green hydrogen production facility and  vehicle assembly factory in Shawinigan, Quebec. 

On behalf of the Board of Directors of  

FIRST HYDROGEN CORP. 

“Balraj Mann”  

Chairman & Group CEO 

Contact:

– 3 – 

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; and conflicts of interest. 

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

FIRST HYDROGEN ECOSYSTEM TRIAL LEADING THE WAY FOR FLEET DECARBONIZATION

Vancouver, B.C., February 20, 2024 Vancouver, British Columbia – First Hydrogen Corp. (“FIRST  HYDROGEN” or the “Company”) (TSXV: FHYD) (OTC: FHYDF) (FSE: FIT) is partnering with Wales &  West Utilities (WWU), Protium Green Solutions (Protium), and Hyppo Hydrogen Solutions (Hyppo) to build  a functional ecosystem, using a redeployable refueller and delivered green hydrogen, to provide the flexibility  and speed during the current vehicle trial. This “ready to go” resource allows First Hydrogen’s hydrogen 

powered-fuel-cell vehicle (FCEV) to deliver normal operations, a crucial step in the rollout of FCEVs in future. In addition to exploring the FCEV’s suitability for WWU’s requirements, the trial also aims to provide a  blueprint that could be replicated in other locations, or to transition trials to full adoption. 

Currently, one of the main barriers to the adoption of hydrogen is the availability of both hydrogen itself and  refuelling infrastructure in suitable locations. This trial uses hydrogen produced at Protium’s Pioneer 1  facility, one of the first hydrogen production facilities in the UK, and Hyppo’s Fuel Cell Systems HyQube  redeployable refueller infrastructure. This provides the flexibility and rapid deployment to bring trials online  quickly. 

“We believe that implementing a rapid trial approach to scaled adoption offers the best approach for fleet  operators to decarbonise with hydrogen,” comments Protium’s Chief Operating Officer Jon Constable.  “Working in partnership to create a local ecosystem reduces risk and lays the foundation for a robust value  chain.” 

“Hyppo is helping build a hydrogen ecosystem in the Swansea Bay City region and is already working with  partners such as Bay Studios, Swansea University, University of South Wales, Protium and Fuel Cell  Systems,” adds Hyppo Hydrogen Solutions CEO Chris Foxall. “It’s great to be able to offer out our service  and capabilities to forward thinking companies like Wales & West Utilities and First Hydrogen which will  accelerate the hydrogen economy in the area”. 

According to Skyquest’s latest research report, the global Hydrogen Fuel Cell Vehicle market size is expected  to reach USD $132.63 billion by 2031 and exhibit a CAGR of 68.52% in the forecast period (2024−2031).  The government incentives, environmental regulations, rising demand for clean energy, increasing awareness  of climate change, advancements in hydrogen fuel cell technology, expanding hydrogen refueling  infrastructure, reducing greenhouse gas emissions, improving energy efficiency, automakers’ focus on  sustainability, and global efforts to transition to clean transportation is fueling the market’s growth. 

Steve Gill, Executive Director Automotive at First Hydrogen, says: “This trial shows fleet operators that  hydrogen is a viable zero emission solution for them, even if they don’t have access to fixed refuelling  infrastructure. Working with partners, we can offer fleet operators a full hydrogen-as-a-service solution. In  South Wales the solution is a hydrogen vehicle ecosystem – we have provided a vehicle for Wales & West  Utilities to use, it is fuelled by Protium’s green hydrogen, which is delivered through Hyppo Hydrogen  Solutions’ refuelling technology.”  

The initiative delivers more than deployment of technology; it is also a strategy to build public confidence in  hydrogen as a safe and valuable regional asset. With the Welsh Government’s proactive stance on hydrogen  in decarbonisation, this trial highlights Wales’s leadership in the UK’s hydrogen adoption efforts.

“We’re eagerly awaiting the data and learnings from the trial, particularly as it takes place during WWU’s  most operationally challenging period of the year,” comments Stephen Offley, Transport Manager at Wales  & West Utilities. “This information will be invaluable in refining the deployment and use of hydrogen in fleet  operations.” 

About First Hydrogen Corp. (FirstHydrogen.com) 

First Hydrogen Corp. is a Vancouver, Montreal and London UK-based company focused on zero-emission  vehicles, green hydrogen production and distribution. The Company has designed and built hydrogen-fuel cell-powered light commercial vehicles (“FCEV”) in partnership with AVL Powertrain and Ballard Power  Systems Inc. The FCEV has a range of 630+ kilometres. These vehicles are being trialled with fleet operators  in the United Kingdom. First Hydrogen is also developing a 35MW green hydrogen production facility and  vehicle assembly factory in Shawinigan, Quebec. 

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; and conflicts of interest. 

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

FIRST HYDROGEN’S VEHICLE TRIALS WITH WALES & WEST UTILITIES IMPRESS AS TEMPERATURES FALL

FIRST HYDROGEN VEHICLE TRIAL WITH WALES & WEST UTILITIES, CREATE NEW

FUEL E

Vancouver, B.C., January 23, 2024 Vancouver, British Columbia – First Hydrogen Corp. (“FIRST HYDROGEN” or the “Company”) (TSXV: FHYD) (OTC: FHYDF) (FSE: FIT) is pleased to announce gas distribution network, Wales & West Utilities (WWU) will begin trials later this month of the Company’s hydrogen fuel cell powered light commercial vehicle (“FCEV”). First Hydrogen’s FCEV will operate from WWU’s Swansea depot, as part of the business’ 1,300 fleet vehicles, which are deployed across Wales and the southwest of England. The FCEV will support network engineers to make customer call outs and undertake repair and maintenance work. The trial will showcase the Company’s FCEV advantage over battery electric vehicles in range (630 km/400 mi), payload towing and fast refueling capabilities.

The FCEV is the first-of-its-kind to be deployed in Wales and supported by green hydrogen producer, Protium Green Solutions and hydrogen services company, Hyppo Hydrogen Solutions, which will help develop a hydrogen ecosystem to support WWU’s operations. Allied Market Research reports the global hydrogen vehicle market was valued at US$1.5 billion in 2022, and is projected to reach US$57.9 billion by 2032, growing at a CAGR of 43%.

Wales & West Utilities provides gas supply and connections to more than 7.5 million customers in Wales and southwest England. The gas distribution network is committed to developing cleaner and greener energy solutions and has recently announced a proposal to develop a major hydrogen pipeline across South Wales.

Creating a hydrogen ecosystem

Until now, First Hydrogen’s FCEV trials have been located near existing hydrogen fuel stations. This trial will demonstrate how partnerships can develop refuelling in areas that lack infrastructure. Using Hyppo Hydrogen Solutions’ mobile refuelling service and green H2 fuel from Protium Green Solutions, enables WWU to refuel close to its depot in Swansea rather than travelling to a public station.

Green hydrogen supplied from Protium’s Pioneer 1 site in Wales is produced by electrolysis using renewable power. Pioneer 1 has been operational since early 2023 and the hydrogen it produces has already been used in several transport trials. Protium will have Pioneer 2, a second, significantly larger electrolyser, operational later in 2024 to meet the growing demand for green hydrogen in Wales and beyond.

Steve Gill, Head of Automotive at First Hydrogen, says: “We’re delighted to be working with Wales & West Utilities and not only trial the vehicles in Wales but also form partnerships that will establish a local hydrogen ecosystem. The Wales & West Utilities team are hugely supportive of our vehicle development and share our belief that hydrogen could help deliver carbon-free transport. Particularly for fleets that require longer uptime, longer range and heavier payloads than BEVs can offer as well as towing capacity – 75% of Wales & West Utilities’ fleet are equipped to tow yet few BEVs have suitable capability. Hydrogen is high on WWU’s corporate agenda, through laying pipelines and upgrading the network in preparation for transitioning and it is exciting to see that the whole company is engaged with our trial.

“This trial will help us to learn a lot about moveable and depot-based refuelling solutions and how this technology could help bridge gaps in the UK’s refuelling infrastructure network. Ultimately, our role in developing hydrogen ecosystem with partners will strengthen our service offering to fleets and accelerate hydrogen mobility adoption.”

Stephen Offley, Transport Manager at Wales & West Utilities, says: “We are confident that hydrogen will play a fundamental role in delivering low-cost green energy as we move away from fossil fuels. Hydrogen can be produced from renewables in the UK, as Protium is already demonstrating, and supplied through many of the gas pipelines that we already use. We are already paving the way for the role of hydrogen in heating homes and powering industry so using hydrogen fuel to decarbonise our fleets is a logical step. Having test driven the vans at First Hydrogen’s track event last year, we’re looking forward to trialling the FCEV in our day-to-day operations and pioneering the use of hydrogen within our fleet. In demonstrating the practicalities of hydrogen, we want to inspire other industries and businesses in Wales and across the UK to view hydrogen as a realistic, operationally effective zero-emission solution.”

Will Stinton, Director of Asset Management at Protium, comments: “This trial with Wales & West Utilities is an excellent opportunity to showcase the capability of green hydrogen, produced renewably by electrolysis, in fleet operations. Our experience in supporting transport trials has shown us that fuel cell vehicles have an important role to play in meeting zero emission targets – it is fantastic to work with an organisation like Wales & West Utilities to explore how FCEVs can decarbonise their operation. Collaborations like these are critical to accelerating hydrogen deployment, and we’re excited to bring FCEVs to the roads in Wales with First Hydrogen and Hyppo Hydrogen Solutions.”

Chris Foxall, CEO at Hyppo Hydrogen Solutions, says: “This trial brings together the entire hydrogen value chain and is a testament to the power of working in partnership. Hyppo is already a fleet operator of fuel cell vehicles and is delighted to see the benefits of First Hydrogen’s FCEV first-hand and to assist Wales and West Utilities with its move towards hydrogen transport.”

About First Hydrogen Corp. (FirstHydrogen.com)

First Hydrogen Corp. is a Vancouver, Montreal and London UK-based company focused on zero-emission vehicles, green hydrogen production and distribution. The Company has designed and built hydrogen-fuel- cell-powered light commercial vehicles (“FCEV”) in partnership with AVL Powertrain and Ballard Power Systems Inc. The FCEV has a range of 630+ kilometres. These vehicles are being trialled with fleet operators in the United Kingdom. First Hydrogen is also developing a 35MW green hydrogen production facility and vehicle assembly factory in Shawinigan, Quebec.

About Wales & West Utilities (WWUtilities.co.uk)

Wales & West Utilities is investing £400m between 2021 and 2026 in the gas network, supporting the journey to Net Zero. By 2035, we aim to deliver a Net Zero ready network to the areas most likely to convert to hydrogen, transforming our entire network by 2040.

The company is also committed to playing its part in getting to net zero carbon emissions by 2050. It has 54 power stations connected to its network to support renewables like wind and solar power, while 21 green gas sites have capacity to inject enough decarbonised green gas to meet the demand of around 151,000 homes.

Our network supplies bus garages in three locations across the south west of England, fuelling CNG buses that improve air quality and reduce carbon emissions from public transport.

About Protium Green Solutions (Protium.Green)

Protium is a UK-based hydrogen solutions provider for project operators, developers, and investors. Founded in 2019, Protium develops projects through their full lifecycle to support the deployment of hydrogen and fuel cell technologies. Through Protium’s operational assets, companies can access electrolytic hydrogen powered by renewables today.

About Hyppo Hydrogen Solutions (Hyppo.co.uk)

Hyppo Hydrogen Solutions is a services-based company that is stimulating the green hydrogen economy by creating demand within local communities. It sees a future where clean hydrogen is powering every part of transportation needs, from cars, vans, buses and coaches to trucks, trains, ferries and aircraft. Clean hydrogen can also have a significant positive impact on power, heating and energy storage needs, helping to decarbonise the planet so that people and nature can thrive.

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; and conflicts of interest.

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

FIRST HYDROGEN CONFIRMS WITH NORTH AMERICAN FLEET OWNERS DEMAND FOR HYDROGEN VEHICLES

FIRST HYDROGEN CONFIRMS WITH NORTH AMERICAN FLEET OWNERS DEMAND FOR HYDROGEN VEHICLES

Vancouver, B.C., January 16, 2024 Vancouver, British Columbia First Hydrogen Corp. (“FIRST HYDROGEN” or the “Company”) (TSXV: FHYD) (OTC: FHYDF) (FSE: FIT) is pleased to announce the results of a North American market study prepared by Sacré Davey Engineering Inc. (“Sacrè-Davey”).  The report highlights demand for First Hydrogen hydrogen-powered-fuel-cell light commercial vehicle (“FCEV”) in North America is estimated at 6 million vehicles with demand expected to grow to over 8 million units by 2035 due to zero emission requirements. 

First Hydrogen commissioned Sacrè-Davey for a hydrogen market study to establish the Shawinigan, Québec-based facilities dedicated to the assembly of the Company’s FCEV and production of green hydrogen.  According to Deloitte’s report (Green hydrogen: Energizing the path to net zero.  Deloitte’s 2023 global green hydrogen outlook), the emerging green hydrogen market is expected to grow to US$1.4 trillion per year by 2050. 

Sacré-Davey surveyed 104 fleet operators and owners from various industries (telecom, construction, food distribution, beverages, energy and utilities, forestry, governments and freight transport) regarding their interest for zero-emission hydrogen fuel cell commercial vehicles (classes 2 to 4).  Based on 2021 Canadian and U.S. registration numbers, an estimated 6+ million light commercial vehicles in North America can be replaced by hydrogen-powered vehicles (“LCV”), such as the Company’s FCEV. 

Polaris Market Research reported the global hydrogen fuel cell vehicles market is projected to grow from US$1.5 billion in 2022 to US$62.9 billion by 2032, at 45.2% CAGR.  Governments such as Canada have released final regulations mandating all new passenger cars, SUVs, crossovers, and light trucks sales to be zero-emission vehicles by 2035, phasing out the sale of gas and diesel vehicles.  This mandate will exponentially accelerate the adoption of Hydrogen Fuel cell commercial vehicles as the best way for businesses to reach their zero carbon objectives.

First Hydrogen’s FCEV trials have shown its’ advantages over battery electric vehicles in range, payload towing and fast refueling capabilities.  The FCEV has achieved a range over 630 kilometres (400 miles), ahead of the 193 kilometres (120 miles) Worldwide Harmonized Light Vehicle Test Procedure (“WLTP”) minimum range requirement of the zero-emission mandate. 

Balraj Mann, Group CEO and Chairman of First Hydrogen, said “The Sacré-Davey study and survey confirm the market for FECVs for fleet operators and owners presents an exceptional opportunity for our company.  With Canada eliminating gas and diesel vehicles by 2035 and the United States establishing upto 10 hydrogen hubs, the Company’s Hydrogen-as-Service can contribute to the zero-emission vehicle and green hydrogen markets.”

About First Hydrogen Corp. (FirstHydrogen.com)

First Hydrogen Corp. is a Vancouver, Montreal and London UK-based company focused on zero-emission vehicles, green hydrogen production and distribution.  The Company has designed and built hydrogen-fuel-cell-powered light commercial vehicles (“FCEV”) in partnership with AVL Powertrain and Ballard Power Systems Inc.  The FCEV has a range of 630+ kilometres.  These vehicles are being trialled with fleet operators in the United Kingdom.  First Hydrogen is also developing a 35MW green hydrogen production facility and vehicle assembly factory in Shawinigan, Quebec.

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; and conflicts of interest.

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