Vancouver, British Columbia–(Newsfile Corp. – July 5, 2022) – First Hydrogen Corp. (TSXV: FHYD) (OTC Pink: FHYDF) (FSE: FIT) (“FIRST HYDROGEN“or the”Company“) is pleased to announce that its subsidiary, First Hydrogen Limited, has submitted two green hydrogen projects for the first round of funding through the Government’s Net Zero Hydrogen Fund (NZHF) Tier 1 scheme The program is funded by the Department of Business, Energy and Industrial Strategy (BEIS) for £240 million. The NZHF is part of the UK Government’s initiatives to promote local green hydrogen production and is a means of to reach the ambitious goal of 10 GW of national production by 2030, or of which “at least” 5 GW must come from electrolytic sources.
The Company’s two projects will have an initial capacity of 40MW each and will be located in Carrington, Greater Manchester and the Thames Estuary area. The sites are in two regions with hydrogen growth strategies, with letters of support received for both projects from key strategic stakeholders and landowners for projects in these regions.
The Thames Estuary Growth Board (TEGB) has released a letter supporting our Tier 1 funding application, highlighting the regional demand for green hydrogen in the estuary, endorsed in the TEGB Hydrogen Route Map document. First Hydrogen also received a letter of support for its projects from INOVYN, a subsidiary of INEOS, one of the main hydrogen producers in the EU.
The Greater Manchester Combined Authority has approved and adopted a regional hydrogen and fuel cell strategy in the pursuit of net zero by 2038, supported by Manchester Metropolitan University and the Fuel Cell Innovation Centre, creating a partnership on the Manchester Hydrogen.
These Tier 1 submissions are the first step to securing financial support from the UK Government, providing grants to undertake preliminary engineering and design work, planning and progressing projects through to the pre-construction phase. Additional streams will provide construction and business model support.
The two projects in Carrington and the Thames Estuary will, when operational, provide the company’s automotive customers with a substantial portion of their green hydrogen requirements to run their hydrogen fuel cell light commercial vehicle fleets and , in combination, will produce a surplus of 7,100 tons of green hydrogen per year.
Nicholas Wrigley, Chairman of First Hydrogen Ltd., said: “Having received support from respected economic and energy authorities for our projects, we hope our applications will secure funds to fund our first hydrogen production sites. green. These sites will eventually supply our automotive customers with a guaranteed supply of green hydrogen, which is essential to the adoption of hydrogen mobility and the creation of a zero-emission transport sector. , is working to identify additional production sites for future funding rounds.”
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 removal systems. The company designs and builds demonstration light utility vehicles (“LCVs”) powered by hydrogen fuel cells under two agreements with AVL Powertrain and Ballard Power Systems Inc. The LCV will have a range of over 500 kilometers. At the same time, the company has launched its bespoke vehicle design phase which will develop its fleet of zero-emission clean vehicles. First Hydrogen is also developing refueling capability in conjunction with FEV Consulting GmbH, the automotive consultancy of the FEV Group of Aachen in Germany. The Company is also looking for opportunities in the production and distribution of green hydrogen in the UK and elsewhere.
About the Net Zero Hydrogen Fund (NZHF)
The Net Zero Hydrogen Fund (NZHF) aims to support the commercial deployment of new low-carbon hydrogen generation projects during the 2020s. The Net Zero Hydrogen Fund (NZHF), worth up to £240 million , will fund the development and deployment of new low-carbon hydrogen generation to reduce investment risk and lower lifetime costs. Both streams are designed to support multiple low-carbon hydrogen production technologies that meet the eligibility criteria.
About INOVYN (Inovyn.com)
A member of INEOS, INOVYN is Europe’s leading vinyl producer and one of the top three in the world. With annual sales of €3.1 billion, INOVYN has approximately 4,200 employees and chemical manufacturing, sales and marketing operations in 8 countries across Europe. INOVYN’s portfolio consists of a wide range of cutting-edge products spanning general purpose vinyls; Specialty vinyls; Organic chlorine derivatives; Chlor Alkali; Hydrogen and vinyl technologies. INOVYN’s annual commercial production volume is approximately 10 million tons.
On behalf of the Board of Directors of
FIRST HYDROGEN CORP.
First Hydrogen Corp.
Caution Regarding Forward-Looking Statements This press release contains information or statements that constitute “forward-looking statements”. These 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 any anticipated results, performance or achievements expressed or implied by these 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”, “has intention”, “believes”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “could”, “might” or “should” occur.
Forward-looking information may include, but is not limited to, statements regarding operations, activities, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, objectives, objectives progress, milestones, strategies and outlook for First Hydrogen, and include statements about, among other things, future developments and First Hydrogen’s future operations, strengths and strategies. Forward-looking information is provided for the purpose of presenting information about management’s current expectations and plans regarding the future, and readers are cautioned that such statements may not be appropriate for other purposes. These statements should not be construed as guarantees of future performance or results.
Forward-looking statements made in this press release are based on management’s assumptions and analysis and other factors on which management may rely to draw conclusions and make forecasts or projections, including the management experience and assessments of historical trends, current conditions and future forecasts. developments. Although management believes these assumptions, analyzes and assessments to be reasonable at the time the statements in this press release are made, actual results may differ materially from those projected in the forward-looking statements. Examples of risks and factors that could cause actual results to differ materially from forward-looking statements may include: the timing and unpredictability of regulatory action; regulatory, legislative, legal or other developments relating to its operations or activities; limited marketing and sales capabilities; early stage of industry and product development; limited products; recourse to third parties; adverse publicity or consumer perception; general economic conditions and financial markets; the impact of increasing competition; the loss of key management personnel; capital and liquidity requirements; access to capital; the timing and amount of capital expenditures; the impact of COVID-19; changes in demand for First Hydrogen’s products and the size of the market; patent law reform; patent and intellectual property litigation; conflicts of interest; and general market and economic conditions.
The forward-looking information contained in this press release represents First Hydrogen’s expectations as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely on such information as of any other date. First Hydrogen undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change.
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