DGAP-News: First Hydrogen Corp.
/ Key word(s): Miscellaneous
For Immediate Release TSXV/FHYD/OTC/FHYDF/FSE/FIT
Vancouver, B.C., March 15, 2022 - Vancouver, British Columbia - First Hydrogen Corp. ("FIRST HYDROGEN" or the "Company") (TSXV: FHYD) (OTC: FHYDF) (FSE: FIT) is pleased to report on the progress of its two demonstrator FCEV vehicles as part of its partnerships with Ballard Power Systems Inc. ("Ballard") and AVL Powertrain UK Limited ("AVL"). The two demonstrator vehicles (sourced from MAN, part of the Volkswagen Group) are located at AVL's UK headquarters. One has been stripped down and used for detailed design and packaging assessments to accommodate the Ballard hydrogen fuel cell, the balance of plant systems, and the hydrogen (H2) fuel tanks. This includes the preparations for the installation of the hydrogen fuel cell, the power battery and the H2 fuel tanks. The second vehicle is for the control systems analysis and integration.
The first of two hydrogen fuel cell stacks provided by Ballard has been built (see photos below) with the addition of all required components, including air system, thermal management and cooling system and hydrogen supply. This fuel cell system assembly has been shipped to AVL's headquarters in Graz, Austria for testing and fuel-cell optimization. The second fuel cell system assembly will follow shortly.
Steve Gill, CEO Automotive of First Hydrogen said: "We are very pleased with the progress for the delivery of our two demonstrator vehicles, working with our partners AVL and Ballard. We are substantially on track to showcase our road-going vehicles with customers in September 2022, as originally planned. Our joint development of this hydrogen fuel cell vehicle will set us apart as a market leader for fuel cell vehicles in the light commercial space and in good stead for our next generation of bespoke hydrogen fuel cell vehicles, which will incorporate all the technical development we have achieved so far."
On behalf of the Board of Directors of
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.
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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15.03.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||First Hydrogen Corp.|
|755 Burrard St Suite 440|
|V6Z 1X6 Vancouver|
|EQS News ID:||1302999|
|End of News||DGAP News Service|