First Hydrogen On-Road Trial Update

May 14, 2024

Vancouver, B.C., May 14, 2024 Vancouver, British Columbia – First Hydrogen Corp. (“FIRST  HYDROGEN” or the “Company”) (TSXV: FHYD) (OTC: FHYDF) (FSE: FIT) is pleased to announce that its fourth hydrogen-fuel-powered vehicle (FCEV) trial (see news release of May 6, 2024) is proceeding well,  a report will be ready later this month. The Company is working with more companies, that attended the  HORIBA MIRA track day, on finalizing details of FCEV trials.  

The Company has also started discussions with a country-wide industrial fleet operator in Mexico, to update  their fleets to hydrogen powered fuel cells as well as adding additional FCEVs to their fleet and to deploy a  country-wide Hydrogen Refueling Stations (HRS) infrastructure. Mexico’s hydrogen trade body, Asociación  Mexicana de Hidrógeno (AMH) states there are at least 15 projects under development in Mexico, worth a  total capex investment of US$20 billion. Hydrogen Insight estimates that the US$20 billion would facilitate  nearly 7 gigawatts (GW) of green hydrogen. 

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

Marketing 

The Company has entered into an agreement with Martin City Studios LLC (“Martin Studios”), where Martin  Studios will produce two audio interviews with First Hydrogen’s senior management with Ellis Martin to be  aired on Money Talk Radio and The Ellis Martin Report (ellismartin.com). Martin Studios is a company  headquartered in New Mexico, United States, dedicated to audio interviews. The cost of the services is $6,500 

(U.S.), paid up front. Martin Studios can be reached at 310-430-1388 or info@ellismartinreport.com. Martin  Studios does not currently hold any common shares in the company. Martin Studios and the company are  unrelated and unaffiliated entities. Martin Studios will be producing an audio interview segment featuring the  company to be updated and aired across Martin Studios’ platforms (as well as posted on  the VoiceAmerican.com’s Business Channel and Martin Studios’ YouTube channel). 

A recording of the interview can be found at: https://youtu.be/sFPxV0cE6ws 

The Future with Zero Emission First Hydrogen FCEVs

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.

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