Vancouver, B.C., August 2, 2023 – Vancouver, British Columbia – First Hydrogen Corp. (“FIRST HYDROGEN” or the “Company”) (TSXV: FHYD) (OTC: FHYDF) (FSE: FIT) reports its hydrogen-fuel cell-powered vehicle (FCEV) has achieved a range of 630km on a single refueling during its recent fleet trial with UK utility, SSE Plc (SSE). The feedback from the drivers was consistently positive. SSE driver feedback commented that it is “quiet”, “smooth”, and “pleasing to drive” with automatic transition. Furthermore, SSE drivers found the range capability to be extremely impressive and remarked that the First Hydrogen vehicle behaves more like a diesel vehicle in terms of range, but without the environment damaging emissions. The FCEV continued to successfully execute the longer routes SSE undertook demonstrating it is compatible with existing infrastructure. The team noted that refuelling took a matter of minutes when recharging.
During the trial, SSE predominantly drove the First Hydrogen vehicle on major roads in Aberdeen, Scotland. Light traffic conditions in the region enabled the vehicle to run at maximum speed limits, when safe to do so, for longer periods than it had done previously. Even when running at consistently higher speeds the vehicle maintained good fuel efficiency, consuming an average of 1.58kg H2/100m. During most of the journeys undertaken, the FCEV maintained its battery at maximum charge by regenerating from braking i.e., the amount of kWh the battery charged and discharged was comparable, which is testament to the efficiency of First Hydrogen’s onboard energy management system.
This data suggests that overall vehicle performance is even better than expected, as it exceeds the results set in pre-trial commissioning tests, especially when driven at constant speed as less braking and accelerating means less fuel is consumed. For several journeys, the FCEV drove fully loaded one way and was part loaded on the return. SSE drivers noted that heavier loads did not noticeably decrease vehicle speed, reduce vehicle range, or affect fuel cell performance.
SSE is the first utility business to road test First Hydrogen’s FCEV. As one of the UK’s largest energy infrastructure companies, SSE has an established a Net Zero Action Plan and has recently increased investment in renewables and its electricity networks to £18 billion. In 2019, SSE committed to transitioning over 3,000 fleet vehicles to electric by 2023, and already it has over 1,100 full EVs in its fleet.
Simon Gray, Head of Fleet Services at SSE plc, says: “SSE is focussed on enabling, harnessing and deploying new technologies and innovations which can accelerate the journey to net zero. This trial period in Aberdeen has provided us with real-world insights into the performance of a hydrogen vehicle, a level of understanding that just isn’t possible from test data alone. By gaining firsthand knowledge of the van’s use in day-to-day scenarios, the feedback from this trial will be invaluable when considering if hydrogen fuel cell electric vehicles could fit into our fleets of the future.”
Steve Gill, CEO of First Hydrogen Automotive, comments: “Working with such an enthusiastic team at SSE meant we were able to undertake different routes and see the vehicle perform in driving conditions it has not experienced before. We are thrilled that these initial results which are helping us to build a true picture of the vehicle’s capabilities. The trial data shows efficient performance from the fuel cell and suggests that heavier payloads and consistent driving at higher speeds do little to diminish range.
We have welcomed SSE’s enthusiasm for the trial and how receptive the team is to innovation, especially in the net zero space. The strength of this partnership means we are exploring opportunities to return to Scotland
– 2 –
for a winter trial to test the vehicle’s performance in colder temperatures where hydrogen is expected to offer advantages over other zero emission technologies.”
About First Hydrogen Corp. (FirstHydrogen.com)
First Hydrogen Corp. is a Vancouver and London UK-based company focused on zero-emission vehicles, green hydrogen production and distribution and supercritical carbon dioxide extractor systems. The Company has designed and built hydrogen-fuel-cell-powered light commercial demonstrator vehicles (“LCV”) under two agreements with AVL Powertrain and Ballard Power Systems Inc. The LCV has a range of 500+ kilometres. These vehicles are being trialled with an initial 16 fleet operators in the United Kingdom. At the same time, the company has launched its bespoke vehicle design phase which will develop its fleet of proprietary zero-emission vehicles. First Hydrogen is also developing refueling capability working with FEV Consulting GmbH, the automotive consultancy of FEV Group of Aachen Germany. The Company is also pursuing opportunities in green hydrogen production and distribution in the UK, EU and North America.
On behalf of the Board of Directors of
FIRST HYDROGEN CORP.
Chairman & Chief Executive Officer
Balraj Mann, Chairman & Chief Executive Officer
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.