TORONTO, ON, May 19, 2021 –FuelPositive Corporation (“FuelPositive” or the “Company”) (TSX.V: NHHH) (OTC: NHHHF) is pleased to announce the selection of National Compressed Air Canada Ltd. (NCA) to undertake the manufacturing of the Company’s Phase 2 Hydrogen-Ammonia Synthesizer commercial prototype systems for Carbon-Free Ammonia (NH3) production.
“This critical milestone for FuelPositive will confirm the broad application potential for our technology and is the backbone of our Carbon-Free Hydrogen-NH3 offering,” said Ian Clifford, CEO of FuelPositive. “Partnering with the knowledgeable and experienced team at NCA on this commercialization project will bring our development-stage program to life.”
Traditional ammonia manufacturing currently exists on a massive scale, in centralized facilities, and results in some of the world’s most concentrated CO2 emissions. With 200 million metric tonnes of NH3 consumed per year, 80 percent of which is utilized by the agricultural sector, traditional NH3 is responsible for significant greenhouse gas emissions.
“FuelPositive’s modular and transportable systems leveraging various shipping container configurations will be suitable to offer a broad range of Carbon-Free Hydrogen-NH3 capabilities across a multitude of end-user applications,” added Mr. Clifford. “This flagship project could pave the way for the broad acceptance of ammonia as a fossil fuel replacement.”
FuelPositive’s Carbon-Free Hydrogen-NH3 system will be adaptable to multiple applications, from smaller stand-alone fuel generation systems for transportation companies, to larger agricultural systems for significant farming enterprises, all the way to large grid storage systems for hydro, wind, solar or geothermal electricity generation operations.
“It is an exceptional day to see our technology take the next step towards commercialization,” said Dr. Ibrahim Dincer, co-inventor of the FuelPositive Hydrogen-NH3 system. “We will work closely with the NCA engineers on this commercialization project, which we have every confidence will make a consequential positive change in reducing global CO2 emissions.”
With more than 50 years experience, NCA is an industry leader in the development, manufacturing, and servicing of transportable compressors using multiple gasses and highly specialized exploration equipment, making them an ideal partner to collaborate with on this project.
“We are extremely pleased to have been approached by the FuelPositive team to partner on this innovative and extremely important environmental project,” said Derek Keddie, President of National Compressed Air. “Our team of experienced engineers with specialization in relevant technologies will work intensively with the Company and Dr. Dincer’s team to prove the scalability and commercial viability of clean NH3 production.”
About FuelPositive
FuelPositive is a Canadian-based growth stage company committed to providing commercially viable and sustainable clean energy solutions, including Carbon-Free Hydrogen-Ammonia (NH3), for use across a broad spectrum of industries and applications.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
All statements, other than statements of historical fact, contained in this press release including, but not limited to (i) generally, or the “About FuelPositive” paragraph which essentially describes the Company’s outlook and objectives, constitute “forward-looking information” or “forward-looking statements” within the meaning of certain securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. These estimates and assumptions may prove to be incorrect.
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
For Media or Investor inquiries, please contact:
Mr. Ian Clifford
Chief Executive Officer
investors@fuelpositive.com
Investor Relations (United States)
RBMG – RB Milestone Group LLC
Trevor Brucato, Managing Director
fuelpositive@rbmilestone.com
www.rbmilestone.com
