Vancouver, British Columbia – Pure Extraction Corp. (“PURX” or the “Company”) is pleased to announce its move toward a net zero emission plan in its business development. The Company intends to offer a hydrogen fuel cell powered supercritical CO2 extractor system that will be zero-emission, fully mobile and non-grid reliant. The Company is reviewing hydrogen fuel cells that are available on the market today.
The fuel cell powered supercritical CO2 extraction systems will allow users to operate the systems in remote locations where there are no electrical power grids available, or the electrical power is unstable. This already developed supercritical CO2 extraction system is fully operational and can be monitored and supported remotely by the Company’s in house fully integrated software operating system. The system can be used for remote online training and commissioning of the supercritical CO2 extraction system including online diagnostics of the fully automated extractor. The Company anticipates to have this new state-of-the-art Hydrogen powered Generation V extraction system available by the end of the year.
The Company is designing and developing a hydrogen fuel cell powered light commercial vehicle under two agreements with AVL Powertrain UK Ltd. and Ballard Power Systems Inc. as announced in our news release of June 11, 2021.
To better define the Company’s zero-emission initiative, PURX will change its name to First Hydrogen Corp., subject to TSX-V approval. Pursuant to the provisions of the articles of the company, shareholder approval of the name change is not required, and consequently, the company is not seeking shareholder approval for the name change. There is no consolidation of the company’s share capital in connection with the name change. Shareholders are not required to exchange their existing share certificates for new certificates bearing the company’s new name.
FIRST HYDROGEN CORP.
Chairman & Chief Executive Officer
Balraj Mann, Chairman & Chief Executive Officer
Nicholas Wrigley, Chairman First Hydrogen Automotive
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.
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