First Hydrogen’s Hydrogen-Powered LCV Praised by Rivus

Vancouver, British Columbia – Newsfile Corp. – May 24, 2023 – First Hydrogen Corp. (TSXV: FHYD) (OTC Pink: FHYDF) (FSE: FIT) (“FIRST HYDROGEN” or the “Company“) announces its hydrogen-powered light commercial vehicle (LCV) has received praise from award-winning fleet management provider, Rivus, for its “smooth and pleasant” driving experience. Rivus drivers noted the Company’s LCV’s capability to manage greater ranges and refuel much faster than battery electric vehicles (BEV), which will help fleets using this vehicle class to switch to meet zero emissions targets. Following initial journeys on roads in Birmingham, the West Midlands and South Yorkshire, Rivus’ drivers have complimented the vehicle for its “effortless” and “comfortable” driving. Drivers were particularly impressed with the LCV’s automatic transmission, which they appraised as “easier than a petrol or diesel van to operate” as it does not require gear changes and the vehicle is much quieter to run.

Rivus, which manages approximately 120,000 vehicles, including approximately 85,000 LCVs, is the first fleet management company to test drive the first-of-its-kind hydrogen vehicle on UK roads. During the month-long trial, Rivus is taking the vehicle through duty cycles, where the van is being driven on planned routes over different terrain at varying speeds unladen, transporting different payloads and with heating, air conditioning and other ancillary vehicle functions turned on and off. Fleet management specialists Rivus will use data gathered by First Hydrogen’s onboard telematics to make direct performance comparisons between similar BEV and internal combustion engine (ICE) vehicles that have undertaken the same duty cycles.

Part of a series of vehicle trials co-ordinated through the UK Aggregated Hydrogen Freight Consortium (AHFC), the trials will see major fleets from industries including grocery, delivery, utilities, and healthcare, use First Hydrogen’s LCV in real-world operations.

Steve Gill, CEO Automotive at First Hydrogen, comments: “We are pleased to hear the positive initial reactions from Rivus’ drivers, especially around driving experience. The team has great insight into the needs of our potential customers – commercial fleet managers and their drivers – who value a comfortable and easy driving experience without the range and payload concerns often associated with other zero emission vehicle technologies. Their feedback is helping us to improve the deployment of our demonstrator vehicles and development for the vehicles we plan to bring to market.”

Thomas Maerz, Chief Development Officer at Rivus, says: “It is no surprise that commercial drivers spend most of their day behind the wheel; therefore, vehicles must be easy to drive and a provide a pleasant working environment. Our team has been impressed with the First Hydrogen vehicle’s handling, how comfortable it is and how smoothly it drives. We are very much looking forward to analysing the data collected during their journeys to understand how vehicle performance matches driver experience.”


Allan Rushforth, First Hydrogen CCO – Mobility and Rivus drivers

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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]

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 has designed and built 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. These vehicles are currently being trialed with an initial 16 fleet operators in the United Kingdom. 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, EU and North America.