First Hydrogen Signs LOI to Secure e-Vans

Source: 5/27/2024, Location: North America

First Hydrogen Corp. (TSXV: FHYD) (OTC Pink: FHYDF) (FSE: FIT) ("FIRST HYDROGEN") has signed a non-binding letter-of-intent ("LOI") to secure, subject to a definitive agreement, a supply of e-Vans built by a large German multinational automotive manufacturer. The Company's hydrogen-fuel-cell powertrain will be integrated into the German-branded vans, the integration process will include access to the vehicle manufacturer's engineering, technicians, support, and certification. The supply line allows First Hydrogen to offer interested fleet operators a customized hydrogen-powered-fuel-cell light commercial vehicle in the near term.

First Hydrogen's hydrogen-powered-fuel-cell vehicle (FCEV) recently completed trials with a large multinational logistics company, whose partners use commercial vans for parcel deliveries. The trial took place in London, UK, where the FCEV operated over 8 hours per day with multiple deliveries per hour.

The Company's FCEV has also demonstrated how its fuel cell powertrain delivers power when needed, achieving outputs of 60kW in transient accelerations, and in previous trials the vehicle has achieved a peak range of 630km (400 miles) on a single refueling in previous trials. This indicates the vehicle can manage more demanding duties, such as carrying heavier payloads, driving over hilly terrain or powering auxiliary equipment (onboard power).

Balraj Mann, Group CEO, First Hydrogen comments, "This collaboration will provide us access to acquire vehicles, integration capabilities and technical support to bring our FCEVs to the North American market. We were the first to the market with our two original FCEVs which now have completed four successful trials in the U.K. The company continues to receive interest to trial the FCEVs with strong interest from North America."

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