First Hydrogen Corp. Encouraged by UK’s Green Hydrogen Sector Development and Successful Trials of Hydrogen-Powered Vehicles

First Hydrogen Corp., a Vancouver-based company focused on zero-emission vehicles, green hydrogen production, and distribution, is optimistic about the recent announcement by incoming UK Prime Minister Sir Keir Starmer regarding the implementation of a renewable energy and green initiatives agenda. The UK government has allocated £500 million to support the development of the country’s green hydrogen sector, with the aim of increasing its capacity to produce green hydrogen and positioning the UK as a global leader in the hydrogen economy.

A recent study conducted by Berlin-based think tanks Agora Energiewende and Agora Industrie has highlighted Germany’s need to import up to 100 terawatt hours (TWh) of green hydrogen annually by the mid-2030s to meet a significant portion of its projected energy demand. As domestic production is expected to fall short, Germany will have to rely on imports from neighboring countries and countries like Canada. This presents an opportunity for First Hydrogen to contribute to Germany’s green hydrogen supply.

First Hydrogen has successfully completed four trials of its hydrogen-powered fuel cell light commercial vehicle (FCEV). The FCEV demonstrated its capability to handle demanding duties such as carrying heavier payloads, towing, and powering auxiliary equipment. Importantly, the vehicle’s performance and range remained unaffected even in colder temperatures. Drivers participating in the trials praised the FCEV for its drivability ease, quick refueling, and impressive range of 630 km (390 mi) on a single refueling. First Hydrogen has established a hydrogen ecosystem, partnering with various providers for refueling and green hydrogen delivery, making it the first and only road-legal FCEV.

In addition to these achievements, First Hydrogen has closed the first tranche of its private placement of convertible debenture units, raising gross proceeds of $540,000. The debenture units consist of $1,000 in principal and are convertible into common shares and share purchase warrants. The company intends to use the net proceeds from the offering for working capital and general corporate purposes.

First Hydrogen Corp. is also developing a 35MW green hydrogen production facility and vehicle assembly factory in Shawinigan, Quebec, further solidifying its commitment to zero-emission vehicles and green hydrogen production.

The company’s readiness to capitalize on Europe’s transition to green hydrogen and its successful trials of hydrogen-powered vehicles position it as a key player in the industry. With the UK’s focus on developing its green hydrogen sector and Germany’s need for significant green hydrogen imports, First Hydrogen is well-positioned to contribute to the global hydrogen economy.

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