Vancouver, British Columbia - Newsfile Corp. - June 27, 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 Manuel Tolosa as Head of Powertrain Engineering to support its development of hydrogen fuel cell-powered light commercial vehicles (LCV). For the last 16 years, Manuel has been responsible for hydrogen vehicle development projects at BMW Group (BMW), including the development of the unique BMW iX5 Hydrogen small series. With First Hydrogen, Manuel will provide leadership and direction in all areas of powertrain technology, innovation and engineering application through to production and post-production. He is responsible for implementing the technology, product and business strategy.
In his most recent role, Program Manager Fuel Cell System and Hydrogen Storage at BMW, Manuel directed the main development strategies for the next generation of vehicles. He also led BMW's long-term cooperation with Toyota Motor Corporation from a technical perspective and helped to align battery electric vehicle (BEV) and fuel cell electric vehicle (FCEV) platforms for their common use.
During his time at BMW, Manuel developed the core power train components for passenger cars, led the technical development of the primary parts in all demonstrator projects, redesigned the liquid hydrogen tank integrated into the Hydrogen 7 fleet and first introduced fuel cell systems and compressed gas tanks into a number of vehicles, including the BMW 5 Series GT FCEV hydrogen fuel cell prototypes.
Manuel Tolosa, Head of Powertrain Engineering, says:
"Light and medium-duty commercial vehicles represent one of the best mobility applications for integrating hydrogen power trains, making it a 100% zero-emission segment. Fuel cell systems are well suited to meet the technological boundaries and specifications required of this vehicle class, as well as their different use cases. I am excited to work with First Hydrogen to establish a leadership position in the design and commercialization of hydrogen-powered commercial vehicles. I am looking forward to bringing all my expertise and skills to deliver the products demanded by the market and our future customers."
Steve Gill, CEO at First Hydrogen Automotive, says: "We are thrilled to welcome Manuel aboard, not only does he have an impressive knowledge of powertrain engineering, but he has extensive experience in hydrogen vehicle development and storage technology from one of the biggest, global automotive brands. His expertise will undoubtedly support us to develop an outstanding fleet of hydrogen vehicles and help commercial drivers to transition to high-performing, zero-emissions transport."
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.
On behalf of the Board of Directors of
FIRST HYDROGEN CORP.
Chairman & Chief Executive Officer
First Hydrogen Corp.
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.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
17 August 2022