FuelPositive Corporation (TSX.V: NHHH) (OTCQB:
NHHHF) (“FuelPositive” or the “Company”), a leading Green
Ammonia company, is pleased to announce it has been running the
final commissioning, along with process optimization, of its first
farm-ready FP300 system. In addition to this, FuelPositive’s
engineering team has kicked off the production of its first
commercial systems which take advantage of these optimization
advancements.
“Over the past two months, we have finally received
several key components and modules for completing our first system
commissioning at our facility in Waterloo, Canada. It’s been a
challenging year for manufacturing supply chains, but by
strategically choosing multiple suppliers for key components and
modules, we have overcome these uncertainties. And now we are
steadily approaching the finish line!” stated Nelson Leite, COO and
Director of the Company.
Launch of FP1500
FuelPositive is officially launching its latest
model: the FP1500. This new upsized design is a turnkey system that
consists of a stack of FP300s in one solution, providing 1500 kg
per day of Green Ammonia.
The decision to offer this system was driven by
customer demand from the Company’s pre-sales campaign, with
multiple end users indicating an immediate need for FuelPositive
systems of this scale and configuration.
“Multiple end-users in various sectors, including
farms of 10,000+ acres, have indicated the immediate need of
FuelPositive systems of this scale and configuration. The FP1500
will answer this larger scale, on-site need.” stated Ian Clifford,
CEO and Board Chair of FuelPositive.
FP300 Design Refinements
The Company has successfully met its planned
pre-sales capacity of 30 units and plans to deliver the first batch
of commercial systems beginning in 2024.
Nelson Leite, COO and Director of FuelPositive,
highlighted the company's dedication to refining the FP300 design
further as he and his team learn from their operational tests of
the on-farm pilot system over the coming months.
“FuelPositive has already begun working with
suppliers to ensure they are ready to scale up for the first
production batch. This is expected to be the beginning of many
announcements leading to revenue and profit generation within the
first year of commercial production.” concluded Leite.
For more information about FuelPositive’s new
Pre-Sales initiative or to place a pre-sales order, please contact:
sales@FuelPositive.com
About FuelPositiveFuelPositive is
a Canadian technology company committed to providing commercially
viable and sustainable, “cradle to cradle” clean technology
solutions, including an on-farm/onsite, containerized Green Ammonia
(NH3) production system that eliminates carbon emissions from the
production of Green Ammonia.
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/.
Cautionary StatementTrading 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 StatementsThis
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 the expected expenditures of the proceeds of the private
placement, 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.
For Investor enquiries, please contact:
Ian CliffordChief Executive Officer and Board
Chairinfo@fuelpositive.comwww.fuelpositive.com
Investor Relations (United States)RBMG – RB
Milestone Group LLCTrevor Brucato, Managing
Directorfuelpositive@rbmilestone.comwww.rbmilestone.com
For Media enquiries, please contact:
Oliveah NumanSussex Strategy
Group519-770-2991onuman@sussex-strategy.com
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