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First Hydrogen Corporate Update FCEV Expansion

By June 24, 2024 4   min read  (791 words)

June 24, 2024 |

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Vancouver, British Columbia– First Hydrogen Corp. (“FIRST HYDROGEN” or the “Company“) is pleased to provide an update on North American, South American and European corporate developments. Following the success of the latest trial of the Company’s hydrogen-powered fuel cell light commercial vehicle (FCEV) in the United Kingdom, First Hydrogen continues to receive interest from various fleet operators regarding the Company’s FCEV. The Company is working with multiple fleet operators to help achieve their zero emission objectives by increasing the number of FCEVs and/or converting existing vehicles to FCEV. The Company plans on expanding its FCEV operations, based on interest and hydrogen infrastructure investment, to Europe and South America.

A summary of ongoing developments as follows:

North America
Quebec
Significant and positive interest has been shown from fleet operators in Quebec. The Quebec operators note the need for Hydrogen vehicles as an alternative to battery electric vehicles during cold weather which limits the battery life in a battery-only vehicle. The Company is expanding and developing additional demonstrator FCEVs to showcase the hydrogen potential to North American fleets, as well, the Company proposes to build a vehicle assembly facility and green hydrogen production plant in Shawinigan, Quebec. The assembly facility target will be for annual production of up to 25,000 vehicles for distribution throughout North America and will represent a major boost to green technology jobs in the region.

Mexico
The Company is in initial discussions with a country-wide industrial fleet operator in Mexico. The industrial operator is looking to convert and add FCEVs to their fleet, along with deploying a country-wide Hydrogen Refueling Stations (HRS) infrastructure. The Company is encouraged with Ms. Claudia Sheinbaum’s appointment as Mexico’s newest president. Ms. Sheinbaum is committed to investment in renewable energy and aligning with international climate goals. Mexico’s hydrogen trade body, Asociación Mexicana de Hidrógeno (AMH) states there are at least 15 projects under development in Mexico, worth a total capex investment of US$20 billion. Hydrogen Insight estimates that the US$20 billion would facilitate nearly 7 gigawatts (GW) of green hydrogen.

Europe
The European Union (EU) is striving to become the first climate-neutral continent by 2050. In its effort to decarbonize, the EU’s RePowerEU plan aims for 10Mt of renewable produced in the EU and 10Mt of imports by 2030. The European Investment Bank‘s (EIB) lending focuses on strategic priorities, including climate action; since its establishment in 1958, the EIB has invested over a trillion euros. Funding for the EIB, comes from its 27 member states, total funding of the EIB is €248-billion, with Germany, France and Italy, each investing €4.2-billion (figures as of March 2020).

Germany has signed a Memorandum of Understanding (MOU) with Canada to help Germany diversify its energy sources from fossil fuels and move towards more sustainable energy. Germany expects its hydrogen demand to surge from 55 terawatt hours to between 95-130 terawatt hours by 2030, highlighting the significance of this partnership for both nations’ energy futures. With these developments, First Hydrogen is looking to expand into Germany and Europe to offer its Hydrogen-As-A-Service (HAAS) model.

South America
Many South American countries are focusing on the development of green hydrogen as part of their clean energy transition strategies. With ongoing investment, policy support, and technological advancements, South America is positioning itself in the global hydrogen economy. The Company will be pursuing opportunities in Peru and Chile. Chile is leading the way with its ambition to produce and export the world’s most competitive hydrogen from renewable electricity by 2030. Peru has recently introduced a new law (Law No. 31992) to help the development of green hydrogen in the country.

Trials
Four FCEV trials have been completed during which the FCEV was subject to various real-world conditions. The FCEV demonstrated its’ capability for demanding duties, such as carrying heavier payloads, towing and powering auxiliary equipment (onboard power). There has been no decrease in vehicle performance or range when operating in colder temperatures. Drivers from the trials noted the FCEV’s drivability ease, quick refueling, and range (630 km / 390 mi, on a single refueling).

Discussions with various fleet operators to add FCEVs to fleets and/or converting existing fleet vehicles to hydrogen-powered fuel cells utilizing the Company’s powertrain are ongoing.

First Hydrogen is working with some of the largest companies in Europe for the next set of trials.

Hydrogen ecosystem
For the WWU trial, the Company partnered with Protium Energy Solutions (Protium) and Hyppo Hydrogen Solutions (Hyppo) using a re-deployable refueller and delivered green hydrogen. This “ready-to-go” hydrogen ecosystem, utilizing Hyppo’s Fuel Cell Systems HyQube, will be able to demonstrate hydrogen mobility is possible for fleet operators. First Hydrogen is working with Fuel Cell on establishing operations in North America.

 

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