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

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

FIRST HYDROGEN WELCOMES CANADA’S NEW EV AVAILABILITY STANDARD

FIRST HYDROGEN WELCOMES CANADA’S NEW EV AVAILABILITY STANDARD

Vancouver, B.C., December 21, 2023 Vancouver, British Columbia – First Hydrogen Corp. (“FIRST HYDROGEN” or the “Company”) (TSXV: FHYD) (OTC: FHYDF) (FSE: FIT) is pleased with Honourable Steven Guilbeault, Minister of Environment and Climate Change, announcement of Canada’s new Electric Vehicle Availability Standard (the “Standard”), to increase the supply of clean, zero-emission vehicles (“ZEV”) in Canada. ZEVs include the Company’s hydrogen-powered fuel-cell vehicles (“FCEV”) along with battery-electric vehicles (“BEV”) and plug-in hybrid electric vehicles. The announcement builds on the Company’s launch of a FCEV demonstrator program for North America, and development plans for a 35- megawatt (“MW”) hydrogen production plant and a 25,000 per year zero-emission vehicle assembly facility in Shawinigan, Quebec.

The Standard will ensure that Canada can achieve a national target of 100 percent zero-emission vehicles sales by 2035 contributing to Canada’s climate change goal of preventing 362 megatonnes of cumulative greenhouse gas emissions. First Hydrogen’s FCEV has proved hydrogen power will be essential to meet climate change goals required by Canadian fleet operators in sectors such as grocery, parcel delivery, mining and utilities.

Over the past year, First Hydrogen’s UK engineering team’s dedication to the development of the Company’s FCEV has created leading know-how and expertise in the hydrogen automotive sector and we truly believe that First Hydrogen’s FCEVs can have a tremendous impact on the transport sector’s decarbonization. First Hydrogen’s FCEV trials have shown its’ advantages over BEVs 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.

Global Market Insights reported the light commercial vehicle market surpassed US$7.8 trillion in 2022 and is anticipated to grow at 9% CAGR to US$19.9 trillion from 2023 to 2032. Increasing vehicle emission regulations, advancements in vehicle safety, introduction of advanced driver assistance systems (“ADAS”) in vehicles, and the rapidly growing retail and e-commerce sectors contribute significantly to the demand for new and advanced commercial vehicles. The logistics and e-commerce industries are expanding rapidly, propelling industry demand.

Balraj Mann, Group CEO of First Hydrogen, commented: “This is exciting news for Canada and First Hydrogen. We strongly support the Electric Vehicle Availability Standard which helps Canada keep pace with the United States, United Kingdom, European Union and several other major economies which are taking action to lower emissions and put more FCEVs on the road.”

Marketing

The Company has engaged Caroline Klukowski dba Fluid PR (“Fluid PR”) to provide certain investor relations services including assisting the Company with its digital marketing strategies and news release coverage for a term of three (3) months. Fluid PR is based out of British Columbia, Canada. Consideration payable to Fluid PR is a total of CAD$12,000, which is payable in monthly installments of $4,000 for each month of the engagement. In addition, the Company shall issue Caroline Klukowski an aggregate of 25,000 stock options with an exercise price set in accordance with the Company’s Long Term Incentive Plan and the TSX-V policies. In connection with the Company’s engagement of Fluid PR, the Company has agreed to allow Fluid

PR to subcontract certain services to an individual named Reilly Renwick. Reilly Renwick shall be compensated with a monthly fee of $3,500. To the best of the Company’s knowledge, neither Fluid PR nor Reilly Renwick have any equity interest in the securities of the Company. Both Fluid PR and Reilly Renwick operate as arm’s length service providers to the Company.

The Company also announces it has entered into an agreement for marketing services with Apaton Finance GmbH (“Apaton”) based in Germany. The marketing services shall include educational articles, market monitoring, and the dissemination of news related to the Company. The engagement will begin in January 2024 and will continue through to March 2024. The company has paid Apaton an upfront fee of €50,000 for services to be provided. Apaton operates as arm’s length service providers to the Company and to the best of the Company’s knowledge, Apaton does not have any equity interest in the securities of the Company.

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 CONFIRMS WITH NORTH AMERICAN FLEET OWNERS DEMAND FOR HYDROGEN VEHICLES

First Hydrogen Launches Fcev Vehicle Program In North America

Vancouver, B.C., December 18, 2023 Vancouver, British Columbia – First Hydrogen Corp. (“FIRST  HYDROGEN” or the “Company”) (TSXV: FHYD) (OTC: FHYDF) (FSE: FIT), after successful UK vehicle  trials, is pleased to announce the launch of its new hydrogen-powered-fuel-cell vehicle (“FCEV”) program for  North America. The North American (“NA”) program will perfectly align with the Company’s expansion  plan and the maturity of Quebec’s hydrogen ecosystem. First Hydrogen intends to develop two additional  demonstrator FCEVs to showcase with potential North American fleet customers. The Company will continue  its successful trial program in the United Kingdom with interested fleet operators.  

First Hydrogen’s FCEV trials have shown hydrogen power will be essential to meet the critical range, payload  towing and fast refueling capabilities required by fleet operators in sectors such as grocery, parcel delivery,  mining and utilities which cannot be met by battery-electric vehicles (“BEV”). Over the past year, First  Hydrogen’s UK engineering team’s dedication to the development of the Company’s FCEV has created  leading know-how and expertise in the hydrogen automotive sector.  

The North American demonstrator program is the next step towards the Company’s plans to build a vehicle  assembly facility and green hydrogen production plant in Shawinigan, Quebec. The Company’s “Hydrogen as-a-Service” model will provide customers in the Montreal-Quebec City hub with clean green hydrogen fuel and zero-emission commercial vehicles in order to accelerate the creation of zero-emission ecosystem solutions. 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. 

The North American, Quebec-based, development program will be led by Stéphane Gagnon as the Lead  Engineer. Mr. Gagnon brings overs 30 years of extensive experience to First Hydrogen, previously as program  manager for the development of the Airbus A220 (C-Series) at Bombardier Aéronautique and as chief engineer  at Novabus (a division of Volvo Group). Mr. Gagnon will work closely with Head of Automotive, Steve Gill  and his team.  

Francois Morin, VP of Development – North America, stated: “It is important for us to share our  knowledge gained from the development of the two UK FCEVs as we add FCEVs in Quebec. The additional  FCEVs build momentum as we move forward with the hydrogen production and vehicle assembly plant in  Shawinigan.” 

Steve Gill, Head of Automotive – First Hydrogen, commented, “I am excited to be part of the new North  American program. The application of our hydrogen powertrain technology to a North American vehicle  platform will show the technology to a new set of customers. There will be new challenges, but I am confident  in our professional skills and determination to create additional demonstrators to our existing FCEVs.” 

Stephane Gagnon stated, “Joining First Hydrogen is an important milestone in my career. I truly believe that  First Hydrogen’s FCEVs can have a tremendous impact on the transport sector’s decarbonization. Looking at  the success the Company has reached in the UK with the hydrogen technology and the customer experience,  really motivates me to implement such a program in NA. Also, working with all the suppliers and regulatory  bodies to build the best in-class NA demonstrators is an achievement that I’m looking to do with dedication  and pride.”

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 To Develop High-Power Batteries For Hydrogen Powered Fuel Cell Vehicles 

First Hydrogen To Develop High-Power Batteries For Hydrogen Powered Fuel Cell Vehicles 

Vancouver, B.C., December 5, 2023Vancouver, British Columbia – First Hydrogen Corp. (“FIRST  HYDROGEN” or the “Company”) (TSXV: FHYD) (OTC: FHYDF) (FSE: FIT) has signed a term sheet with  EV Technologies Inc. (“EVT”) to develop a high-power compact battery that is state of the art and designed specifically for hydrogen-powered-fuel-cell vehicles. First Hydrogen and EVT will undertake the preparation  of a commercial partnership agreement outlining technical requirements and investment. First Hydrogen will  own all intellectual property developed during and in relation with the partnership, which shall be used for the  sole purpose of manufacturing the Battery. 

The Company’s engineering team and automotive partners have determined that the new battery system being  developed and designed will have greater efficiency and increased performance for its hydrogen-powered fuel-cell-vehicles (FCEV). The new battery design will integrate with the hydrogen fuel cell in the vehicles for the hydrogen powered vehicle market (FCEV). First Hydrogen assessed the latest battery technologies  offered globally that lead to Quebec-based EVT, a recognized leader in developing innovative, reliable and  high-performance traction battery system, after being unable to locate a battery that would meet First  Hydrogen’s strict specifications. 

First Hydrogen’s hydrogen-powered FCEV’s have accumulated more than 10,000 km through testing  including road trials with UK fleet owners and operators, RIVUS and utility company SSE plc. The FCEV  have demonstrated a range of 630 km on a single refuelling, easily doubling the range of electric light  commercial vehicle (240 km). First Hydrogen is dedicated to ongoing enhancements in product quality and  advancements in vehicle powertrain performance.  

Global Market Insights reported the light commercial vehicle market surpassed US$7.8 trillion in 2022 and is  anticipated to grow at 9% CAGR to US$19.9 trillion from 2023 to 2032. Increasing vehicle emission  regulations, advancements in vehicle safety, introduction of advanced driver assistance systems (“ADAS”) in  vehicles, and the rapidly growing retail and e-commerce sectors contribute significantly to the demand for new  and advanced commercial vehicles. The logistics and e-commerce industries are expanding rapidly, propelling  industry demand.  

Vincent Darlix, CEO of EVT, stated: “Today marks a significant milestone in our journey towards a  sustainable future. EVT Batteries is grateful for the opportunity to provide our innovative batteries to First  Hydrogen. This partnership reinforces EVT Batteries’ commitment to delivering a product with the highest  performance and safety.” 

Balraj Mann, Group CEO of First Hydrogen, commented: “As we work towards the development of our  hydrogen production facility and vehicle manufacturing plant in Shawinigan, it is important to work on  structuring a strong supply chain with regional and local partners. Partnering with EVT, a Quebec-based supplier, is a key component to our development and growth.”

About EVT (EVTbatteries.com

EVT Batteries designs and manufactures high energy battery packs that are extremely safe, geared towards  heavy-duty vehicles market, including trucks, buses, and industrial vehicles. Innovative patented technologies  enable an increase in energy density of more than 30% compared to current state-of-the-art battery packs,  provide industry leading power capability, as well as higher levels of safety. EVT’s 1 GWH plant is  located near Montreal, close to customers in North America, operational as soon as Q2 2024. 

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. 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 Showcases FCEV With Europe & Uk’s Largest Companies

First Hydrogen Showcases FCEV With Europe & Uk’s Largest Companies

Vancouver, B.C., November 29, 2023 Vancouver, British Columbia – First Hydrogen Corp. (“FIRST  HYDROGEN” or the “Company”) (TSXV: FHYD) (OTC: FHYDF) (FSE: FIT) is please to announce  twenty-one (21) fleet operators & industry specialists, from Europe and UK, attended the Company’s Track  Day at the HORIBA MIA proving grounding in England. Held on Tuesday October 31, attendees included  fleet managers from the grocery sector with participants from Asda and Sainsbury’s, parcel delivery company  DPD, NHS England, VINCI Group, mining conglomerate Anglo American, and Network Rail. Several  utilities providers including Wales & West Utilities, Northern Gas Networks, SGN & National Gas were also  present. 

The Track Day drew interest from vehicle leasing and rental companies, with ARVAL (BNP Paribas Group),  Novuna, and Redde Northgate attending, along with British motor trades residual value experts, Glass’s Guide.  In addition, representatives from Brit European Transport, National Windscreens & the Canal & River Trust.  Participating fleets operate more than half-million vehicles (est.). Research Nester estimates the global  hydrogen vehicle market size to expand at ~45% CAGR between 2023 and 2035, growing from US$1-billion  to US$45-billion.  

The event gave operators a unique opportunity to get behind the wheel of the Company’s hydrogen-fuel-cell  powered vehicle (FCEV). Twenty-nine (29) drivers each took the opportunity to drive on the MIRA track,  simulating different duty cycles and reaching speeds of up to 110 km per hour (70 miles per hour). Operators  experienced the vehicles’ smooth handling and appreciated the quiet drive. 

Drivers were also treated to a vehicle walk-round and under-the-hood viewing of First Hydrogen’s technology.  The Company’s partner, Ballard Power Systems, was present alongside First Hydrogen engineers to help  attendees understand how the vehicles’ fuel cells work. Participants asked searching questions about the  viability of hydrogen mobility, the maturity of hydrogen infrastructure and were presented with a review of  Total Costs of Operation (TCO) based on First Hydrogen data collected from vehicles used during recent demo  trials with UK fleets. Participants were quick to understand the TCO outlook, the benefits of FCEVs and how  they compare alongside other zero emission vehicle technology. 

First Hydrogen’s road trials with fleet specialists Rivus and energy company SSE plc have demonstrated the  impressive range the vehicles have, with a peak range of more than 630km (390 miles) on a single fuelling  achieved during journeys from Aberdeen. The real-world operational trials also showed the minimal effect  carrying heavy loads or driving at higher speeds had on vehicle range – crucial attributes for this vehicle class.  

Steve Gill, Executive Director Automotive at First Hydrogen, says: “We’re delighted with the high level  of interest we have received from UK fleet operators about our FCEVs and this enthusiasm was clearly present  at our first driving experience day. By engaging fleets in similar events, we are demonstrating our FCEV’s  capabilities to an audience who are on the road to zero emissions and can see a role for First Hydrogen  technology in achieving their targets. Their feedback will help us achieve buy-in from fleets, some of whom  are likely to become our Development Partners, helping us shape our future business and ultimately becoming  customers for our vehicles.”

Stephen Offley, Transport Manager at Wales & West Utilities, comments: “It was fantastic to see a  hydrogen vehicle of this weight class in action. We already know that hydrogen power will be essential to  meet the critical range, payload and towing capabilities required by public utilities and other users, which  cannot be met by battery-electric vans. This experience shows that adoption could soon become a reality and  will help operators to transition their whole fleets to zero emission technology.”

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. 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.