FuelPositive Provides Operational and Strategic Update and Successfully Fills Initial Pre-Sales Commitments
- Final Commissioning of First Farm-Ready System Underway
- Launch of newest model: the FP1500
- Successfully met pre-sales capacity on the first batch of commercial systems and commences system production
WATERLOO, Ontario, May 02, 2023 (GLOBE NEWSWIRE) — 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: [email protected]
FuelPositive 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/.
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.
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 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.
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