Vancouver, British Columbia--(Newsfile Corp. - August 14, 2023) - First Hydrogen Corp. (TSXV: FHYD) (OTC Pink: FHYDF) (FSE: FIT) ("FIRST HYDROGEN" or the "Company") is pleased to announce award-winning fleet management provider Rivus, which manages approximately 120,000 vehicles, has provided their positive report on the Company's hydrogen-fuel cell powered vehicle (FCEV). The report's overall conclusion highlighted First Hydrogen's FCEV robustness over EVs in terms of vehicle efficiency over different load factors. The report goes on say the FCEV has an unbeatable range, and refuelling was quick, taking less than 5 minutes.
The report noted First Hydrogen's FCEV superiority compared to electric vehicles (EV) in range where modern electric light commercial vehicles (eLCVs) can achieve ranges of upwards to 240 km which was easily doubled by First Hydrogen's FCEV. The Company's FCEV was not heavily affected by the speed or the payload, and performed well under different load cycles compared to eLCVs which can experience reductions in range by approximately 10%.
First Hydrogen's FCEV was trialed with Rivus for just over 4 weeks. In that time, engineers at Rivus covered over 700 miles (1,125 km) of testing. Tests were completed on diverse routes, providing data on how the vehicle operates under different conditions. This involved urban city centre driving, navigating extra urban routes i.e., journeys that include driving in town centres and on higher speed roads, and combined routes, which included a mix of driving on low-speed city centre roads, higher speed roads and motorways. Rivus tested the van both empty and loaded to 90% of its maximum weight capacity, again reflecting the way vans will be used in the real world.
Gemma Horne, Warranty Controller at Rivus, took part in the trials and best described the overall experience as "brilliant". She went on to say, "the main benefit of the First Hydrogen vehicle is the refuelling times are quicker than battery electric vehicles charge times. And of course, unlike internal combustion engines, hydrogen vehicles produce zero emissions."
First Hydrogen's Automotive CEO, Steve Gill says: "We are delighted that Rivus has managed to prove that this technology can be a viable option for many fleets. The trial also showed that the vehicle ran with excellent efficiency, comfortably achieving more than a 500km range on a single tank of fuel, exceeding the early performance expectations we set for real world driving. We have always been confident that our vehicle will offer benefits to fleets, and this first trial is evidence of just that."
First Hydrogen's All Rushforth with Gemma Horne, Rivus
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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 630+ 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 & Group CEO
First Hydrogen Corp.
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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