TORONTO, May 26, 2022 (GLOBE NEWSWIRE) -- FuelPositive Corporation (TSX.V: NHHH) (OTCQB: NHHHF) (the “Company”) addressed the attendees of the H.C. Wainwright Global Investment Conference held in Miami on May 25, 2022. Chief Operating Officer Nelson Leite provided a corporate update to conference attendees, and met with a series of registered investors. FuelPositive’s containerized green ammonia production system was the main focus of the presentation.
“We like these conferences because they give us an opportunity to showcase our technology and learn from investors about what matters to them. Our timing to market is the critical factor right now. We continue to be on track to have our first demonstration system fully validated and ready to go by late summer, 2022. By ‘fully validated’, we mean will have validated the purity of the green ammonia produced by the system, as well as the energy consumption, and the rate of production,” said Leite.
The Company has a specific program for validating its technology. Every validation is performed following a standard gage repeatability and reproducibility (gage R&R) process, involving three different tests performed by three different sources. The sources are FuelPositive, an institution such as a university, and a private professional accredited lab. “This process is what our investors and customers expect, so they know they can trust any claims we make,” added Leite.
FuelPositive will also be validating the operating costs it first projected in November 2021, and setting its price for its first customers, who will be farmers. They will use the FuelPositive systems to produce the green ammonia on their farms, using it as fertilizer for their crops and ultimately as fuel to power farm equipment. “It’s safe to say that our price will save farmers dollars and our systems will give them control over supply. We’ve known all along that our green ammonia must be priced lower than grey ammonia, which has become unaffordable for many farmers,” said Leite. To view the November 18, 2021 news release on the initial costing model, follow this link: https://fuelpositive.com/november-2021-corporate-update/
The FuelPositive address to the full conference was recorded on video and will be available soon.
FuelPositive is a Canadian technology company committed to providing commercially viable and sustainable “cradle to cradle” clean technology solutions, including a containerized green ammonia (NH3) production system for use across a broad spectrum of industries and applications. By focusing on technologies that are clean, sustainable and economically advantageous/realizable, the Company aims to change the course of climate change through practical solutions that can be implemented in the short term.
The FuelPositive green ammonia production system takes air, water and sustainable electricity and synthesizes it into 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 being considered as a key enabler of the hydrogen economy.
FuelPositive systems are designed to provide for green ammonia production on-site, where it’s needed. This eliminates wildly fluctuating supply chains and offers end-user energy and supply security.
Already proven in the lab, FuelPositive is building three full-sized systems to be rolled out in demonstration pilot projects in 2022.
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) accepts responsibility for the adequacy or accuracy of this release.
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 at 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 Media or Investor enquiries, please contact: