2022-08-22 | TSXV:FHYD | Press release

Vancouver, British Columbia–(Newsfile Corp. – Aug. 22, 2022) – First Hydrogen Corp. (TSXV: FHYD) (OTC Pink: FHYDF) (FSE: FIT) (“FIRST HYDROGEN“or the”Company“) is pleased to announce that its two demonstrator vehicles have successfully completed initial commissioning testing. The fuel cell systems, including the cell supplied by Ballard Power Systems, have undergone extensive calibration and testing in Graz, Austria.Testing is conducted by First Hydrogen’s automotive manufacturing partner, AVL, one of the world’s leading mobility technology companies for development, simulation and testing in the automotive industry and beyond.

The commissioning process ensures vehicles meet the highest possible safety standards for hydrogen and high-voltage electrical safety systems. As part of the commission, the Essex County Fire and Rescue Service inspected the vehicles at AVL’s facilities in Basildon, UK, and were satisfied that the control measures put in place supported the application for use on county roads. This milestone allows the vehicles to be tested under mixed road and driving conditions and confirm performance ahead of First Hydrogen’s real-world operational trials with major fleet operators in early 2023.

Since the announcement of the trials, which are being coordinated by Element Energy and the UK Aggregated Hydrogen Freight Consortium (AFHC), two more fleets have expressed interest in taking part in the demonstration programme. A total of 12 fleet operators working in a range of industries, including telecommunications, utilities, infrastructure, delivery, groceries and healthcare, have now signed up to participate. They will be able to technically evaluate First Hydrogen’s fuel cell vehicles in terms of payload, range and ease of refueling and compare ease of use with battery electric alternatives. It is expected that First Hydrogen will be able to obtain indications of interest for future vehicle orders as a result of these trials.

Steve Gill, CEO of First Hydrogen Automotive, says: “Completing the first trials is a key milestone in our demonstrators. This allows First Hydrogen to progress into the next stages of vehicle hydrogen system development, fueling trials and on-road dynamic driving. We are delighted that the Essex Fire and Rescue Service has been reassured to see the control measures in place, so we have backed the application for use on county roads.This also paves the way for acceptance of the future hydrogen fuel cell vehicles for road testing in the uk.year we are heading towards our goal of accelerating the adoption of zero emissions vehicles in the light commercial vehicle market.we are extremely encouraged by the appetite of members of the AHFC, which includes some of the largest fleet operators in the UK, to test our hydrogen vehicles Not only will these trials provide exclusive data It’s unique for our next generation of vehicles, but the trials should also generate future demand and growth to create a customer base.”

Balraj Mann, President of First Hydrogen, says, “Because hydrogen demonstrator vans are nearly road legal, First Hydrogen is able to participate in the various government programs that the Canadian and US governments have in place. The Canadian government, in its 2022 budget, is offering $3-billion in incentives for zero-emission vehicles and related infrastructure. The recent US Climate, Taxes and Health Bill provides a massive US$369 billion to fight climate change. The US bill will lower the cost of producing green hydrogen, which will lower operating costs for vehicle owners.”

Demonstration van tests at AVL facilities

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Demonstration van tests at AVL facilities

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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 removal systems. The company designs and builds demonstration light utility vehicles (“LCVs”) powered by hydrogen fuel cells under two agreements with AVL Powertrain and Ballard Power Systems Inc. The LCV will have a range of over 500 kilometers. At the same time, the company has launched its bespoke vehicle design phase which will develop its fleet of zero-emission clean vehicles. First Hydrogen is also developing refueling capability in conjunction with FEV Consulting GmbH, the automotive consultancy of the FEV Group of Aachen in Germany. The Company is also looking for opportunities in the production and distribution of green hydrogen in the UK and elsewhere.

On behalf of the Board of Directors of

FIRST HYDROGEN CORP.

Balraj Mann

CEO

Contact:

Balraj Mann

First Hydrogen Corp.

604-601-2018

investors@firsthydrogen.com

Caution Regarding Forward-Looking Statements This press release contains information or statements that constitute “forward-looking statements”. These 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 any anticipated results, performance or achievements expressed or implied by these 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”, “has intention”, “believes”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “could”, “might” or “should” occur.

Forward-looking information may include, but is not limited to, statements regarding operations, activities, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, objectives, objectives progress, milestones, strategies and outlook for First Hydrogen, and include statements regarding, among other things, future developments and First Hydrogen’s future operations, strengths and strategies. Forward-looking information is provided for the purpose of presenting information about management’s current expectations and plans regarding the future, and readers are cautioned that such statements may not be appropriate for other purposes. These statements should not be construed as guarantees of future performance or results.

Forward-looking statements made in this press release are based on management’s assumptions and analysis and other factors on which management may rely to draw conclusions and make forecasts or projections, including the management experience and assessments of historical trends, current conditions and future forecasts. developments. Although management believes these assumptions, analyzes and assessments to be reasonable at the time the statements in this press release are made, actual results may differ materially from those projected in the forward-looking statements. Examples of risks and factors that could cause actual results to differ materially from forward-looking statements may include: the timing and unpredictability of regulatory action; regulatory, legislative, legal or other developments relating to its operations or activities; limited marketing and sales capabilities; early stage of industry and product development; limited products; recourse to third parties; adverse publicity or consumer perception; general economic conditions and financial markets; the impact of increasing competition; the loss of key management personnel; capital and liquidity requirements; access to capital; the timing and amount of capital expenditures; the impact of COVID-19; changes in demand for First Hydrogen’s products and the size of the market; patent law reform; patent and intellectual property litigation; conflicts of interest; and general market and economic conditions.

The forward-looking information contained in this press release represents First Hydrogen’s expectations as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely on such information as of any other date. First Hydrogen undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change.

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