FuelPositive Joins the Canadian Hydrogen and Fuel Cell Association and Sets Completion Date for Non-Brokered Private Placement
WATERLOO, Ontario, Jan. 08, 2024 (GLOBE NEWSWIRE) -- FuelPositive Corporation, a leading Green Ammonia Company (TSX.V: NHHH) (OTCQB: NHHHF) (the “Company” or “FuelPositive”) announces that it has joined the Canadian Hydrogen and Fuel Cell Association (CHFCA).
“We are pleased to welcome Fuel Positive to the CHFCA as a start-up member. With deep knowledge of the green ammonia and agricultural space, FuelPositive’s initiatives will be a key driver in the industry. We eagerly anticipate supporting FuelPositive’s industry growth and influence,” said Ivette Vera-Perez, CEO of CHFCA.
Nelson Leite, Chief Operating Officer and Board Member of FuelPositive, stated, “Farmers use 80% of the traditional, highly polluting, grey ammonia produced today, and ammonia is a critical chemical in many other sectors. The possibility of producing Green Ammonia on-site for nitrogen fertilizers, fuel-switching, and water purification – with no carbon emissions – is drawing attention globally. It can replace the grey ammonia in virtually all the traditional sectors, significantly reducing carbon emissions worldwide.”
Leite continued, “On-site Green Hydrogen production is a key component of our system. FuelPositive is excited to join the CHFCA to bring us closer to the greatest minds focused on Canadian Green Hydrogen technologies!”
Ian Clifford, FuelPositive’s Chief Executive Officer and Chair, stated, “We are very excited to partner with Canadian Green Hydrogen manufacturers and innovators through the CHFCA. FuelPositive is testing and accessing Green Hydrogen technologies worldwide for our systems. Teaming up with Canadian technology companies and supporting the Canadian economy as we build our Green Ammonia solutions aligns with our mission as a Company.”
About the Canadian Hydrogen and Fuel Cell Association (CHFCA)
The Canadian Hydrogen and Fuel Cell Association (CHFCA) is a national association that supports industry, academia, government agencies, financial organizations, and other stakeholders focused on hydrogen and fuel cell technologies and products. As the collective voice of Canada’s world-leading hydrogen and fuel cell sector, the CHFCA’s mission is to strengthen Canadian leadership, raise awareness of the benefits of the technology, and accelerate the adoption of its members’ products and services in Canada and abroad. The CHFCA currently has more than 170 members across Canada and regional branches in British Columbia, Quebec and Ontario. You can visit www.chfca.ca for more information.
FuelPositive Sets Completion Date for Non-Brokered Private Placement
The Company has set the deadline for completing its ongoing non-brokered private placement (the “Offering”) for January 31, 2024. The Offering consists of up to 90,909,090 units (each a “Unit”) at a price of $0.055 per Unit. Each Unit consists of one common share of the Company and one common share purchase warrant allowing holders to purchase an additional common share at a price of $0.07 for a period of sixty months.
On December 15, 2023, the Company completed an initial tranche of the Offering and issued 24,545,454 Units for aggregate gross proceeds of $1,350,000.
All securities issued in connection with the Offering are subject to restrictions on resale for a period of four months and one day in accordance with applicable securities laws. The Company will pay finders’ fees to eligible third parties who have assisted in introducing subscribers to the Offering. The net proceeds from the Offering will be utilized for general working capital purposes.
About FuelPositive Corporation
FuelPositive is a Canadian technology company that delivers economical and sustainable clean technology solutions. FuelPositive strives to ensure that the lifecycle of our products is environmentally friendly. This includes an on-farm/onsite, containerized Green Ammonia (NH3) production system that effectively eliminates carbon emissions during the production process.
By focusing on technologies that are clean, sustainable, economically advantageous and realizable, the Company aims to help mitigate climate change, addressing unsustainable agricultural practices through innovative technology and practical solutions that can be implemented now. The FuelPositive on-farm/onsite, containerized Green Ammonia production system is designed to produce pure, anhydrous ammonia for multiple applications, including fertilizer for farming, fuel for grain drying and internal combustion engines, a practical alternative for fuel cells and a solution for grid storage. Green Ammonia is also considered a key enabler of the hydrogen economy.
FuelPositive systems are designed to provide for Green Ammonia production on-farm/onsite, where and when needed. This eliminates wildly fluctuating supply chains and offers end-users clean fertilizer, energy and Green Ammonia supply security while eliminating carbon emissions from the production process. The first customers will be farmers. Farmers use 80% of the traditional grey ammonia produced today as fertilizer.
See pre-sale details here: https://fuelpositive.com/pre-sales/.
FuelPositive Corporation is based in Waterloo (Canada) and trades on the TSX Venture Exchange under the symbol NHHH and in the USA on the OTCQB under the symbol NHHHF.
For further information, please contact:
Ian Clifford
Chief Executive Officer and Board Chair
[email protected]
Tel: 416.535.8395
www.fuelpositive.com
Investor Relations United States & International:
RB Milestone Group (RBMG)
[email protected]
Investor Relations Canada:
Transcend Capital Inc.
[email protected]
Cautionary Statement
Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) that are based on expectations, estimates and projections as of the date of this news release. The information in this release about future plans and objectives of the Company, including with respect to further testing and implementation of the FP300 system, are forward-looking statements.
These forward-looking statements are based on assumptions and estimates of management of the Company at the time they were made and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. 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 information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Forward-looking information is 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 information or to explain any material difference between subsequent actual events and such forward-looking information, except to the extent required by applicable law.
