First Hydrogen Selects Quebec for First Green Hydrogen Eco-system Combined Green Hydrogen Production and Zero-emission Vehicle Assembly

First Hydrogen Selects Quebec for First Green Hydrogen Eco-system Combined Green Hydrogen Production and Zero-emission Vehicle Assembly

Vancouver, B.C., November 28, 2022 Vancouver, British Columbia – First Hydrogen Corp. (“FIRST  HYDROGEN” or the “Company”) (TSXV: FHYD) (OTC: FHYDF) (FSE: FIT) is pleased to announce that  it has selected the City of Shawinigan, Quebec, Canada to develop its first green hydrogen eco-system. The  Company has conducted site evaluations and has now formally commenced the process to secure and develop  respective sites for the local production of green hydrogen and the assembly of First Hydrogen zero-emission commercial vehicles. 

First Hydrogen’s project plan is to produce up to 50MW of green hydrogen using advanced electrolysis  technology and distribute the hydrogen within the Montreal-Quebec City corridor for use with First  Hydrogen’s light commercial vehicles (LCV) as well as supporting other hydrogen-fuelled vehicles and  applications in the region.  

First Hydrogen LCVs are planned to be assembled in Shawinigan for distribution throughout North America  in combination with the Company’s Hydrogen as a Service product offering. The assembly factory will be  designed for an annual capacity of 25,000 vehicles per year when at full capacity and will represent a major  boost to green technology jobs in the region. 

The Company’s strategy is a close match with the Province of Quebec’s “Plan for a Green Economy1” and the  “2030 Quebec Green Hydrogen and BioEnergy Strategy1” both targeting reduced dependence on fossil fuels,  energy autonomy and green prosperity through the use of green hydrogen to decarbonize and strengthen its  economy. Further, the Province of Quebec provides a stable and supportive environment for First Hydrogen’s 

project through its economic, innovation and energy policies and programs aimed at accelerating the pace of  the green energy transition. 

The project is also consistent with recent federal government announcements supporting green hydrogen and  low-carbon fuels initiatives. 

Rob Campbell, CEO of Energy for First Hydrogen, says: “Shawinigan, Quebec is a great place for First  Hydrogen to plant the flag in North America. Quebec’s first hydroelectric company was established there in  1898 and Shawinigan has a strong history of energy and industry working together. The City and the region  are very well positioned with its green energy resources, industrial community and growing green energy 

economy. It will be also very important to closely collaborate with the regional education network to create  the required skills of tomorrow. The region is already the home of the l’institut de recherche en hydrogène de  l’UQTR (IRH). Founded in 1994, IRH is one of Canada’s leading institutions in hydrogen research. We wish  to thank the City of Shawinigan and Investissement Québec for their ongoing support for this exciting project.” 

Balraj Mann, Chairman & CEO First Hydrogen states: “We are seeing strong market support for our  holistic product offering of zero-emission LCVs and green hydrogen. Customer pull combined with strong Quebec and Canadian policy support has convinced us that now is the time to move forward with this first  project. Engineering studies are planned to commence in early 2023. Our announcement today coincides with  the unveiling of our next-generation hydrogen fuel cell-powered light commercial vehicle in the coming  weeks.”

– 2 – 

1 https://www.quebec.ca/en/government/policies-orientations/plan-green-economy, https://www.quebec.ca/en/government/policies orientations/strategy-green-hydrogen 

bioenergy#:~:text=In%202030%2C%20green%20hydrogen%20and,gasoline%20vehicles%20from%20the%20roads. 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. 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 & Chief Executive Officer

Contacts:

North America
Balraj Mann, Chairman & Chief Executive Officer
604-601-2018
investors@firsthydrogen.com

Europe
Nicholas Wrigley, Chairman  First Hydrogen Automotive
+44 7917-114434
Nicholas.Wrigley@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.

Successful Track Run in UK 

Successful Track Run in UK 

Vancouver, B.C., November 21, 2022 Vancouver, British Columbia – First Hydrogen Corp. (“FIRST  HYDROGEN” or the “Company”) (TSXV: FHYD) (OTC: FHYDF) (FSE: FIT) is pleased to showcase its hydrogen fuel cell-powered light commercial vehicles (LCV) in operation at the HORIBA MIRA Proving  Ground, located near Birmingham, UK. The following link shows the LCVs in operation during its initial test  runs, one in fuel-cell and one in battery electric mode (FH Track Run). The vehicles are certified for road use in the United Kingdom (UK), excluding Northern Ireland. Fleet trials with major UK operators are scheduled  for January 2023. A total of 14 fleet operators in various industries are engaged to participate in the trials  through the UK Aggregated Hydrogen Freight Consortium (AHFC).  

The Company is now counting down to the unveiling of its new next generation vehicle. First Hydrogen’s  next generation vehicle platform is the culmination of 18 months of work by First Hydrogen’s Automotive  team and represents a major step forward for the Company by providing zero emission, compelling range,  payload and overall total cost of ownership for the light commercial vehicle segment. 

The Company’s commercial vehicle strategy is focused on supplying zero emission LCVs to the UK, European  Union, United States and Canada. The global light commercial vehicle market is projected to reach $786.5  billion by 20301. These vehicles, together with the Company’s Hydrogen-as-a-Service (HaaS) solution, which  supplies green hydrogen fuel, distribution and complementing vehicle management services, will help the  sector meet zero emission targets. 

First Hydrogen’s LCVs First Hydrogen and AVL Teams

Steve Gill, CEO of Automotive for First Hydrogen Limited, says: “We believe that our next generation  LCVs represents a holistic solution for commercial fleet operators needing to go green and cost-effectively run their business. We are very excited with our new designs and look forward to sharing these soon.” 

Balraj Mann, Chairman & CEO First Hydrogen states: “Our automotive team, led by Steve Gill, has made  significant progress in the past 18 months which started off as a conceptual idea and two agreements (with  Ballard Power and AVL Powertrain) to having our LCVs successfully complete a track run. And within weeks  we will unveil our new next generation LCV. This is an exciting and proud time for our company.”

1 Allied Research 

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. 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 & Chief Executive Officer

Contacts:

North America
Balraj Mann, Chairman & Chief Executive Officer
604-601-2018
investors@firsthydrogen.com

Europe
Nicholas Wrigley, Chairman  First Hydrogen Automotive
+44 7917-114434
Nicholas.Wrigley@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.

Inaugural Green Hydrogen Vans 

Inaugural Green Hydrogen Vans 

Vancouver, B.C., November 15, 2022 Vancouver, British Columbia – First Hydrogen Corp. (“FIRST  HYDROGEN” or the “Company”) (TSXV: FHYD) (OTC: FHYDF) (FSE: FIT) is pleased to announce its first hydrogen fuel cell-powered van (FCEV) have commenced performance tests at the HORIBA MIRA  Proving Ground, located near Birmingham, UK. These track tests will confirm the safety and performance of  the light commercial vehicles (LCV) prior to the handover from powertrain specialists AVL to First Hydrogen.  Last month, the vehicles were certified for UK road use ahead of a series of road trials with major UK  operators, which start in January 2023. The vehicles will undertake final testing designed to fine-tune  operational performance before they are available for fleet operator trials to commence in the New Year. 

The Company’s inaugural vehicles have more than five times more range capability than their battery electric  equivalent – achieving 400-600km range on a single fuelling compared to the 115km range of the battery  electric van running at the same maximum speed1. With a refuelling time of approximately five minutes, the  time required to power First Hydrogen’s FCEVs dramatically undercuts the 5 hours and 20 minutes it takes to  recharge a battery electric van2

Created to encourage adoption and whet the market appetite, the Company’s vehicle demonstrator program  will inform development for future vehicle trials in European Union, United States and Canada. Feedback and  high-level purchase commitments will also support the design and development of First Hydrogen’s next  generation of vehicles, which it plans to bring to market in the next few years. The global light commercial  vehicle market is projected to reach $786.5 billion by 20303. These vehicles, together with First Hydrogen’s  complete Hydrogen-as-a-Service (HaaS) solution, which supplies green hydrogen fuel, distribution and  complementing vehicle management services, will help the sector meet zero emission targets. 

 

First Hydrogen installed hydrogen fuel systems into the First Hydrogen LCV vans. The fuel stack was supplied  by Ballard Power Systems, the leading global provider of energy fuel cell solutions, and the vehicles have  been fitted out at AVL’s facility in Basildon. The van has also been wrapped in First Hydrogen branded blue  and white livery, designed with a nod to the vehicle’s hydrogen-propulsion system. 

Steve Gill, CEO of Automotive for First Hydrogen Limited, says: “The team has been working tirelessly  to reach this monumental achievement. It has been phenomenal to watch the performance on the test track and  really brought our vision into reality. These vehicles enable us to demonstrate how hydrogen fuel cell systems  can serve the LCV market; delivering the range and providing the operational flexibility commercial fleets  require.”  

Nicholas Wrigley, Chairman of First Hydrogen Limited comments: “We are delighted with the initial  performance of the First Hydrogen fuel cell van. There is growing pressure on the transport sector to achieve  zero emission targets, which means operators, governments and investors are eager to see the power of  hydrogen mobility in action. Using donor vehicles has enabled us to bring our first demonstrator vans to market  quickly. This approach also allows customers to see, feel and experience the operational benefits of hydrogen  propulsion in a familiar set up.”  

1 Based on the Worldwide Harmonised Light Vehicle Test Procedure (WLTP) 

2 Charging time when using a cable charge at a rate of 7.2 kW 

3Allied Research 

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. 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’s Green Hydrogen Powered Van Ready for Maiden Test Run

First Hydrogen’s Green Hydrogen Powered Van Ready for Maiden Test Run

Vancouver, B.C., November 7, 2022 Vancouver, British Columbia – First Hydrogen Corp. (“FIRST  HYDROGEN” or the “Company”) (TSXV: FHYD) (OTC: FHYDF) (FSE: FIT) is pleased to announce that  its first zero emission light commercial vehicles (LCVs) will shortly undergo test runs at the HORIBA MIRA  Proving Ground and test track located near Birmingham. 

This week, the first of the Company’s demonstrator vehicles has completed hydrogen fuelling at 700 bar  pressure at the ITM/MOTIVE site in Rainham, Essex, close to the AVL facility in Basildon. The 700-bar fill  is a key performance parameter as it is the pressure rate that supplies enough energy to give the vehicle a 400- 600km range within a few minutes. When commissioned, drivers will be able to see the energy storage and  power flow within the vehicle on the van’s dashboard display.  

First Hydrogen’s LCVs have been certified for use on UK roads and will be used in a series of real-world trials  with major fleet operators that have signed up for the trials in the UK starting in January 2023. Current fleets  scheduled to trial the LCVs include major grocery chains, infrastructure and utility providers and healthcare services. The trials, run in conjunction with the Aggregated Hydrogen Freight Consortium (AHFC), will  enable First Hydrogen to gain feedback for its next-generation 2.0 LCVs and engage with future potential  customers. They will also allow fleet managers to experience operating zero-emission hydrogen vehicles  within their company. 

The global light commercial vehicle (LCV) market was valued at $463.00 billion (U.S.) in 2020 and is  projected to reach $786.50 billion (U.S.) by 2030, registering a CAGR of 5.3%. (Allied Market Research),  making it an important vehicle class for First Hydrogen to target with a zero-emission mobility solution. The  latest development milestone coincides with the European Union’s plans to ban the sale of petrol and diesel  cars and vans by 2035. It has provisionally agreed to reduce CO2 emissions by 55% for new cars and 50% for  new vans by 2030 from 2021 figures, with the ultimate goal to achieve 100% reduction of CO2 emissions for  new cars and vans by 2035. 

Steve Gill, CEO at First Hydrogen Automotive says:

“We are hugely proud to have reached this stage in  the development of our first vehicles. The first fuelling is an incredibly exciting moment for us, which signifies  a major step along the road to the wider production and launch of our First Hydrogen vehicles. We are eager to enter final testing and commence trials with operators early next year, which will help us to refine our end to-end Hydrogen-as-a-Service solution and assess the commercial appetite for hydrogen vehicles as a way to  achieve zero emissions in the transport sector. 

“Following the European Union’s outline to drastically cut vehicle CO2 emissions in the next 12 years, we are  very confident that our plans for zero emission commercial vehicles are absolutely on the right track.” 

Balraj Mann, CEO & Chairman of First Hydrogen Corp states,

“We have already witnessed the car market  in North America transition quickly to electric vehicles over the last four years. We are now seeing vans and  commercial vehicles pursuing the zero emissions transition. I believe green hydrogen will be the choice for  commercial vehicles that require range and payload capabilities.”

Fueling up at the MOTIVE station 

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. 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 & Chief Executive Officer

Contacts:

North America
Balraj Mann, Chairman & Chief Executive Officer
604-601-2018
investors@firsthydrogen.com

Europe
Nicholas Wrigley, Chairman  First Hydrogen Automotive
+44 7917-114434
Nicholas.Wrigley@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.

Encouraged by Mini-budget Announcement

Encouraged by Mini-budget Announcement

Vancouver, B.C., November 4, 2022 Vancouver, British Columbia – First Hydrogen Corp. (“FIRST  HYDROGEN” or the “Company”) (TSXV: FHYD) (OTC: FHYDF) (FSE: FIT) is pleased with Canada’s  Finance Minister Chrystia Freeland’s fall economic announcement to keep pace with United State’s Inflation  Reduction Act (“IRA”) which authorizes $369 billion (U.S.) in spending on energy and climate change.  

The Canadian Government will be implementing two new tax credits to promote investment. The first  incentive will be a refundable tax credit equal to 30 percent of the capital cost of investments in clean energy  technology including zero-emission industrial vehicles. The second incentive will be an investment tax credit  to support investments in clean hydrogen production.  

First Hydrogen’s two demonstrator vehicles will be undergoing customer trials on public roads commencing  January 2023 for a period of 24 months during which the Company expects to collect significant proprietary  data from fleet owners and to capture high-level interest for future orders. The vans will be trialled in real world conditions with major fleet operators initially in the UK and enable the Company to publicly showcase  its leading design and accelerate the adoption by light commercial vehicle owners of fuel cell-powered vehicles  to replace aging diesel fleets. A total of 14 fleet operators in various industries including telecoms, utilities,  infrastructure, delivery, grocery and healthcare have signed up to participate in the trials.  

First Hydrogen is also working in parallel to arrange green hydrogen generation and distribution under its “Hydrogen as a Service” (HASS) program to provide a holistic solution to the market. First Hydrogen’s plans  are underway in the UK, Europe, and North America to provide this solution. The North American focus will  initially be on Canada with its enormous resources of renewable energy (hydropower, solar and wind) that can  be used to produce green hydrogen yielding no carbon emissions. Canada has identified the domestic  deployment of hydrogen as a key to meeting its climate change commitments. On July 6, 2022, the Canadian  government released its Clean Fuel Standard, which will aim to reduce greenhouse gas emissions and  accelerate the use of clean technologies and fuels. It was followed up with an announcement of funding for  Medium-and-Heavy-Duty Zero-Emission Vehicles (the iMHZEV program will provide $547.5M of funding  over four years). This new policy commitment will aid in creating new demand for commercial vehicles using  green hydrogen. 

Balraj Mann, CEO of First Hydrogen, says, “The announcement by Minister Freedland builds on the  hydrogen alliance, announced in August 2022, with Germany. The combination of tax incentives and  renewable energy resources available in Canada will help the country achieve its goal of net-zero emissions.” 

Rob Campbell, CEO of First Hydrogen Energy, says, “This announcement supporting clean energy and  green hydrogen production shows the overall momentum to scale up the Canadian clean tech industry. It has  come only weeks after the bold action by the United States with the IRA and just prior to the important COP27  conference in Egypt. These initiatives are totally in step with our plans to develop green hydrogen eco-systems  to Canada.” 

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. 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’s Green Hydrogen Powered Van Ready for Maiden Test Run

First Hydrogen Vans Receive Road Certification

Vancouver, B.C., October 12, 2022 Vancouver, British Columbia – First Hydrogen Corp. (“FIRST  HYDROGEN” or the “Company”) (TSXV: FHYD) (OTC: FHYDF) (FSE: FIT) is pleased to announce that  its two light commercial vehicles (LCVs) have been certified legal on United Kingdom (UK), excluding  Northern Ireland, roads by the Vehicle Certification Authority. The vehicles will now be able to undertake  customer trials on public roads commencing January 2023 for a period of 24 months during which the  Company expects to collect significant proprietary data from fleet owners and to capture high-level interest  for future orders. The vans will be trialled in real-world conditions with major fleet operators initially in the  UK and enable the Company to publicly showcase its leading design and accelerate the adoption by light  commercial vehicle owners of fuel cell-powered vehicles to replace aging diesel fleets. A total of 13 UK fleet  operators in various industries including telecoms, utilities, infrastructure, delivery, grocery and healthcare  have signed up to participate in the trials.  

These two demonstrator vehicles will showcase the advantages fuel cell electric vehicles have over battery  electric vehicles in terms of range and refuelling speed. First Hydrogen vehicles offer 400-600km of range on  a single refuelling, which takes a matter of minutes. The certification is a significant milestone for the  Company and will help with further approvals required as First Hydrogen scales up its vehicle demonstrator  program to trial the vehicles in the European Union, United States and Canada. The global light commercial  vehicle market is projected to reach $786.5 billion by 2030 (according to Allied Research) and First  Hydrogen’s vehicles will help the sector meet zero emission targets. 

First Hydrogen is also working in parallel to arrange green hydrogen generation and distribution under its  “Hydrogen as a Service” or Haas program to provide a holistic solution to the market. First Hydrogen’s plans  are underway in the UK, Europe, and North America to provide this solution. 

Steve Gill, CEO of Automotive for First Hydrogen said: “This is an important step which validates our  engineering and technical expertise. The whole team has worked hard to deliver this certification and we can  now move forward with the important customer trials commencing in early 2023.” 

Balraj Mann, Chairman and CEO of First Hydrogen Corp. states, “We are proud of our Automotive team and  their recent accomplishments. I am excited about the groundwork laid by the whole team and, as we move  forward, executing our business plan in the coming months. Green hydrogen is becoming a clean alternative answer to fossil fuels.”  

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. 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 & Chief Executive Officer

Contacts:

North America
Balraj Mann, Chairman & Chief Executive Officer
604-601-2018
investors@firsthydrogen.com

Europe
Nicholas Wrigley, Chairman  First Hydrogen Automotive
+44 7917-114434
Nicholas.Wrigley@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.