FuelPositive Ready to Accept 30% Deposits on 30 Initial Commercial Systems
2023年11月8日 - 10:00PM
FuelPositive Corporation (TSX.V: NHHH) (OTCQB: NHHHF) (the
“Company” or “FuelPositive”) announces the completion of 3rd party
verification of the FP300 Green Ammonia output rate. With this data
in hand, the Company is now positioned to accept 30% deposits on
the previously announced initial 30 commercial systems and ramp up
its production. The base price of the FP300 Green Ammonia system is
C$950,000.
Nelson Leite, COO and Board Member, commented, “With the 3rd
party validated output rate completed, we can confirm our operating
cost assumptions. This validation triggers the critical step of
accepting 30% deposits from our lead customers for the initial 30
commercial systems.”
Ian Clifford, CEO and Board Chair, added, “This marks a
transitional point in our evolution as a Company: shifting from a
pre-revenue start-up to a revenue-producing commercial entity. 30%
deposits on the initial 30 FP300 systems represents nearly
C$9,000,000, with the completed sale of these systems representing
approximately C$30,000,000. Additionally, we have hundreds of
systems in our sales pipeline. It’s a very exciting time for all of
us at FuelPositive and our stakeholders worldwide.”
Reza Esmailpour, P. Eng., at third-party process validation
service M2AR Consulting of Cambridge, Ontario, stated: “We were
impressed by the exceptional precision and meticulousness displayed
by the FuelPositive team in their testing and data collection
methods. Their system is truly notable, demonstrating a
ground-breaking modular process of creating Green Ammonia. The
validation period was highly successful. We look forward to further
collaboration with FuelPositive in evaluating their subsequent
processes and systems for the market.”
For additional information, please contact:
Ian CliffordChief Executive Officer and Board
Chairian@fuelpositive.com Tel: 416.535.8395www.fuelpositive.com
Investor Relations United States &
International:RB Milestone Group (RBMG)
fuelpositive@rbmilestone.com
Investor Relations Canada:Transcend Capital
Inc.et@transcendcapitalinc.com
About FuelPositive
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/.
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.
FuelPositive (TSXV:NHHH)
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