First Hydrogen Adds Schipstra to Green Hydrogen Production Team

Vancouver, British Columbia – Newsfile Corp. – July 18, 2022 – First Hydrogen Corp. (TSXV: FHYD) (OTC Pink: FHYDF) (FSE: FIT) (“FIRST HYDROGEN” or the “Company“) is pleased to announce its’ subsidiary, First Hydrogen Limited, has appointed Afkenel Schipstra as Chief Operational Officer to grow the Energy division. Ms. Schipstra joins First Hydrogen from the multinational utility company ENGIE, where she held the role of Senior Vice President of Hydrogen Business Development. She was responsible for large-scale hydrogen projects in the Netherlands, including HyNetherlands, a 1.85 GW green hydrogen value chain, which covers the production, transportation and usage of green hydrogen. She is also a Non-Executive Director and Chair of the Audit & Risk Committee of HydrogenOne Capital Growth plc., the first hydrogen fund to list on the London Stock Exchange.

Prior to ENGIE, Afkenel was Hydrogen Program Manager at TSO Gasunie N.V., where she developed a roadmap for the company’s hydrogen activity and, in her previous role of Senior Business Development Manager, she worked on carbon capture, usage and storage (CCUS) and District heating projects. Passionate about bringing more women into the industry she is an active member of Women in Hydrogen and a founding member of VIEN, a community of energy leaders committed to bridging the diversity gap to create a sustainable and inclusive future for the sector.

Afkenel holds a Masters degree from the Rotterdam School of Management, is a Registered Controller and has more than 15 years of extensive experience in business leadership and finance management for the Energy sector. At First Hydrogen, she will assist the Company to establish environmentally sustainable green hydrogen production sites and deliver its refuelling solutions, a key part of First Hydrogen’s ambition to guarantee a supply of green hydrogen for its customers.

Nick Wrigley, Chairman at First Hydrogen, says: “Afkenel brings both passion and a wealth of expertise in managing and financing hydrogen projects to the team. She joins us at an exciting point in our development of hydrogen infrastructure; planning is underway for our first green hydrogen production sites in the UK and we are working with FEV Consulting to develop our refuelling technology. By leading this work, she will build our Hydrogen-as-a-Solution model, which tackles the chicken-and-egg problem that challenges hydrogen vehicle adoption and will help deliver a zero emissions future. We are also excited for her to help us drive diversity in the energy and automotive industries, as this important step helps us accelerate innovation and change.”

Afkenel Schipstra, Chief Operational Officer for First Hydrogen Energy, comments: “Profound shifts are underway in the global energy system. Governments, industries and consumers are shaping a net zero economy, with clean hydrogen set to play a vital role as a feedstock, an energy carrier and a fuel. This is a unique opportunity to be part of a forward-thinking and game-changing company with a truly talented international team fully committed to developing a more sustainable future. In growing this emerging economy, we will also be able to encourage more people to find rewarding careers in this fast-moving sector.

I am excited and privileged to start this new journey and work across the value chain to help First Hydrogen build the path toward a zero-emission future.”

On behalf of the Board of Directors of
FIRST HYDROGEN CORP.
“Balraj Mann”
Chairman, Chief Executive Officer & Director

Contact:
Balraj Mann
First Hydrogen Corp.
604-601-2018
[email protected]

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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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 extractor systems. The Company is designing and building hydrogen-fuel-cell-powered light commercial demonstrator vehicles (“LCV”) under two agreements with AVL Powertrain and Ballard Power Systems Inc. The LCV will have a range of 500+ kilometres. At the same time, the company has launched its bespoke vehicle design phase which will develop its fleet of proprietary zero emission vehicles. First Hydrogen is also developing refueling capability working with FEV Consulting GmbH, the automotive consultancy of FEV Group of Aachen Germany. The Company is also pursuing opportunities in green hydrogen production and distribution in the UK and elsewhere.