VANCOUVER, BC, December 19, 2022 – Vancouver, British Columbia – First Hydrogen Corp. (“First Hydrogen” or the “Company”) (TSXV: FHYD) (OTC: FHYDF) (FSE: FIT) is pleased to announce that it has joined EDAG Group (EDAG) as a design partner for its next generation hydrogen fuel cell vehicles (FCEV). As an international mobility company with experience in commercial vehicle development, EDAG will support First Hydrogen’s goal of making zero-emission vehicles available to fleet managers.
Following the success of the company’s first two light commercial vehicles equipped with hydrogen fuel cell stacks, the next generation of light commercial vehicles will see First Hydrogen’s first vehicles enter the mass market. Hydrogen-powered vehicles suitable for the commercial sector have a much greater range, can carry larger payloads and can be refueled much more quickly than comparable battery-powered vehicles. First Hydrogen’s vehicles will be aerodynamic, durable, advanced and highly functional for the driver, appropriate for the vehicle’s intended use.
With its innovative Hydrogen-as-a-Service, First Hydrogen will offer a complete solution for emission-free mobility. By providing light commercial vehicles, a guaranteed supply of green hydrogen from renewable sources and fuel technology, among other complementary services, the company will help fleet managers move away from fossil fuels.
As a development and construction specialist, EDAG Group has been established in the international automotive and commercial vehicle industry for decades and is known for its concept cars and prototypes as well as for the development of commercial vehicles at the highest level. The Commercial Vehicles and Off-Road Vehicles division covers the entire development spectrum for commercial vehicles. In addition to developing components, modules and complete vehicles, EDAG also manufactures prototype parts and complete vehicles. Bringing creativity, innovation and a wealth of industry knowledge to the partnership, EDAG Group will develop a compelling design style and technical concepts for First Hydrogen’s first mass-market FCEVs.
First Hydrogen Limited CEO Steve Gill emphasizes: “This is an incredibly important partnership, as the design of our flagship vehicles will shape the first impression of our brand and establish our position in the market. EDAG’s innovative approach to development “Our next generation vehicles convinced us. As our chosen design partner, EDAG appreciates the advantages that hydrogen as a fuel offers in the light commercial vehicle class in terms of range, payload, easy refueling and ease of use. All of these aspects go into the look and overall design of vehicles on.”
COO of EDAG Engineering GmbH, Harald Keller, explains: “We are very much looking forward to developing the first production-ready FCEVs from First Hydrogen. As a design partner, our team will support First Hydrogen to enter the commercial vehicle market and enable us to achieve the company’s ambitious goals and future-oriented outlook for investors and customers.”
About First Hydrogen Corp. (FirstHydrogen.com)
First Hydrogen Corp. is a Vancouver (Canada) and London (UK) based company specializing in zero emission vehicles, green hydrogen production and sales and supercritical carbon dioxide recovery systems. Under two agreements with AVL Powertrain and Ballard Power Systems Inc. the company plans and builds hydrogen fuel cell light commercial vehicle (“LCV”) demonstration vehicles with a range of over 500 kilometers. At the same time, the company has entered the development phase for customized vehicles, where it will develop its own fleet of zero-emission vehicles. In addition, First Hydrogen is developing a hydrogen refueling system in collaboration with FEV Consulting GmbH, the FEV Group’s automotive consultancy in Aachen. The company is also pursuing green hydrogen production and distribution opportunities in the UK, EU and North America.
About EDAG Group (EDAG.com)
EDAG Group is the world’s largest independent engineering service provider to the international mobility industry. We understand mobility as a holistic ecosystem and offer our customers technological solutions for more sustainable, emission-free and intelligent networked mobility. With a global network of around 60 branches, EDAG Group provides engineering services in vehicle technology, electrical/electronics and manufacturing solutions.
With our interdisciplinary expertise in the areas of software and digitization, we have the key competencies to actively help shape the current dynamic transformation process in the mobility industry. Digital functions, autonomous driving, artificial intelligence, alternative drives, new mobility concepts and the vision of a networked smart city are now an integral part of our portfolio. Thanks to our EDAG 360-degree approach to the development of complete vehicles and production systems, we are a competent partner for sustainable mobility projects. It is part of the company’s DNA to actively shape the mobility of the future and transfer new technologies and concepts to series production. EDAG is now one of the TOP 20 IT service providers in the German mobility sector.
Our customers include leading international OEMs, Tier 1 suppliers and automotive and non-automotive start-ups, which we support worldwide with our approximately 8,000 360-degree engineering experts.
In 2021, the company had a turnover of 687 million euros. On 31 December 2021, EDAG employed 7,880 people worldwide (including trainees).
For the board of
FIRST HYDROGEN CORP.
Chairman and CEO
First Hydrogen Corp.
Cautionary note regarding forward-looking statements. This press release contains information or statements that constitute “forward-looking statements”. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements or developments to differ materially from the expected results, performance or achievements expressed or implied in 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 indicate that events or conditions “will”, “would”, “could” or “should” occur.
Forward-looking information may include, but is not limited to, statements about the operations, business, financial condition, expected financial results, performance, outlook, opportunities, priorities, goals, ongoing goals, milestones, strategies and prospects of First Hydrogen included. 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.
The forward-looking statements in this press release are based on management’s assumptions and analysis and other factors that management may use to form conclusions and make forecasts or projections, including management’s experience and estimates of historical trends, current conditions and expected future developments. Although management believes that these assumptions, analyzes and estimates are reasonable as of the date of the statements contained in this press release, actual results may differ materially from those anticipated in the forward-looking statements. Examples of risks and factors that could cause actual results to differ materially from the forward-looking statements include, among others: the timing and unpredictability of regulatory actions; legislative, regulatory, legal or other business-related developments; limited marketing and sales capacity; the early stage of industry and product development; limited products; reliance on third parties; adverse publicity or consumer perception; general economic conditions and financial markets; the effects of increased competition, loss of key executives, capital requirements and liquidity, access to capital, the timing and amount of capital expenditures, the impact of COVID-19, shifts in demand for First Hydrogen’s products and market size, patent law reform, patent litigation and intellectual ownership, 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, may change thereafter. Readers should not place undue reliance on, and should not place undue reliance on, any forward-looking information at any other time. 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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