Vancouver, British Columbia--(Newsfile Corp. - January 12, 2022) - First Hydrogen Corp. (TSXV: FHYD) (OTC Pink: FHYDF) (FSE: FIT) ("FIRST HYDROGEN" or the "Company") has established a new wholly owned subsidiary NetzeroH2 Inc. ("NetZeroH2") for the design, production and roll out of Hydrogen Refueling Stations providing hydrogen distribution for the automotive market. The state-of-the-art refueling stations will be designed and developed in conjunction with FEV Consulting GmbH ("FEV"), combines top management consulting expertise with the technical capabilities and knowhow of the FEV Group. FEV's deep industry knowledge enables FEV to create pragmatic solutions to some of the most pressing and complex issues facing today's enterprises.
First Hydrogen views the development of the Hydrogen Mobility Refueling Station as accretive to its automotive strategy and serve its mobility customers over the lifetime of their ownership of First Hydrogen vehicles. This can also service the hydrogen fuel mobility market as an additional opportunity for selling hydrogen related technology to its customer base and more generally to accelerate the adoption of hydrogen as a main source of fuel for the light to heavy hydrogen mobility sector. A recent report prepared by McKinsey & Company for the Hydrogen Council states hydrogen is central to reaching net zero emissions and limit global warming to 1.5 degrees Celsius because it can abate 80 gigatons of CO2 by 2050.
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About First Hydrogen Corp.
First Hydrogen Corp. is a Vancouver and London UK based company focused on zero-emission vehicles and supercritical carbon dioxide extractor systems. 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. The LCV will have a range of 500+ kilometres. First Hydrogen is developing refueling capability working with FEV Consulting GmbH, the internal automotive consultancy of FEV Group of Aachen Germany.
About FEV Consulting GmbH
FEV Consulting, the strategic consulting arm of FEV group, offers a unique combination of management consulting capabilities with over 40 years of engineering expertise for mobility solutions and energy infrastructures. The company has access to over 6,000 global subject matter experts. FEV Consulting is the first choice of CTOs to address their most pressing and challenging technology and business issues. Through deep technology understanding, FEV Consulting accelerates its client's validated decision making. The company serves clients worldwide from its headquarters in Aachen and from additional offices in Beijing, Bilbao, Cologne, Detroit, Dubai, Munich, and Tokyo.
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
Europe
Nicholas Wrigley, Chairman
First Hydrogen Automotive
+44 7917-114434
Nicholas.Wrigley@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.
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