Vancouver, British Columbia– First Hydrogen Corp. (“FIRST HYDROGEN” or the “Company“) has signed a term sheet with EV Technologies Inc. (“EVT”) to develop a high-power compact battery that is state of the art and designed specifically for hydrogen-powered-fuel-cell vehicles. First Hydrogen and EVT will undertake the preparation of a commercial partnership agreement outlining technical requirements and investment. First Hydrogen will own all intellectual property developed during and in relation with the partnership, which shall be used for the sole purpose of manufacturing the Battery.
The Company’s engineering team and automotive partners have determined that the new battery system being developed and designed will have greater efficiency and increased performance for its hydrogen-powered-fuel-cell-vehicles (FCEV). The new battery design will integrate with the hydrogen fuel cell in the vehicles for the hydrogen powered vehicle market (FCEV). First Hydrogen assessed the latest battery technologies offered globally that lead to Quebec-based EVT, a recognized leader in developing innovative, reliable and high-performance traction battery system, after being unable to locate a battery that would meet First Hydrogen’s strict specifications.
First Hydrogen’s hydrogen-powered FCEV’s have accumulated more than 10,000 km through testing including road trials with UK fleet owners and operators, RIVUS and utility company SSE plc. The FCEV have demonstrated a range of 630 km on a single refuelling, easily doubling the range of electric light commercial vehicle (240 km). First Hydrogen is dedicated to ongoing enhancements in product quality and advancements in vehicle powertrain performance.
Global Market Insights reported the light commercial vehicle market surpassed US$7.8 trillion in 2022 and is anticipated to grow at 9% CAGR to US$19.9 trillion from 2023 to 2032. Increasing vehicle emission regulations, advancements in vehicle safety, introduction of advanced driver assistance systems (“ADAS”) in vehicles, and the rapidly growing retail and e-commerce sectors contribute significantly to the demand for new and advanced commercial vehicles. The logistics and e-commerce industries are expanding rapidly, propelling industry demand.
Vincent Darlix, CEO of EVT, stated: “Today marks a significant milestone in our journey towards a sustainable future. EVT Batteries is grateful for the opportunity to provide our innovative batteries to First Hydrogen. This partnership reinforces EVT Batteries’ commitment to delivering a product with the highest performance and safety.”
Balraj Mann, Group CEO of First Hydrogen, commented: “As we work towards the development of our hydrogen production facility and vehicle manufacturing plant in Shawinigan, it is important to work on structuring a strong supply chain with regional and local partners. Partnering with EVT, a Quebec-based supplier, is a key component to our development and growth.”
About EVTÂ
EVT Batteries designs and manufactures high energy battery packs that are extremely safe, geared towards heavy-duty vehicles market, including trucks, buses, and industrial vehicles. Innovative patented technologies enable an increase in energy density of more than 30% compared to current state-of-the-art battery packs, provide industry leading power capability, as well as higher levels of safety. EVT’s 1 GWH plant is located near Montreal, close to customers in North America, operational as soon as Q2 2024.
About First Hydrogen Corp.
First Hydrogen Corp. is a Vancouver and London UK-based company focused on zero-emission vehicles, green hydrogen production and distribution. The Company has designed and built hydrogen-fuel-cell-powered light commercial vehicles (“FCEV”) in partnership with AVL Powertrain and Ballard Power Systems Inc. The FCEV has a range of 630+ kilometres. These vehicles are being trialled with fleet operators in the United Kingdom. First Hydrogen is also developing a 35MW green hydrogen production facility and vehicle assembly factory in Shawinigan, Quebec.
On behalf of the Board of Directors of
FIRST HYDROGEN CORP.
“Balraj Mann”
Chairman & Group CEO
Contact:
Balraj Mann
First Hydrogen Corp.
604-601-2018
[email protected]
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