First Hydrogen engages sacre-davey for green hydrogen production facility and hydrogen vehicle assembly factory.
First Hydrogen Corp. (TSXV: FHYD) (OTC Pink: FHYDF) (FSE: FIT) (“FIRST HYDROGEN” or the “Company“) has signed a feasibility study agreement with SacrĂ©-Davey for the development of a 35MW green hydrogen production facility and vehicle assembly factory in Shawinigan, Quebec.
The purpose of the feasibility study is to establish the technical and markets analysis, engineering review, analysis of grid and water constraints, permitting requirements, environmental constraints and a review of distribution and operations. The overarching theme throughout the study is to recognize the combined aim to create a zero-emissions hydrogen ecosystem.
The production facility will use advanced electrolysis and supply the Company’s hydrogen-fuel-cell-powered vehicles (FCEV), as well as support other hydrogen-fuelled vehicles and applications in the Montreal-Quebec City region.
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The Company’s planned FCEV assembly factory will be designed for annual production of 25,000 vehicles per year when at full capacity and, will represent a major boost to green technology jobs in the region. The distribution of First Hydrogen’s FCEV, throughout North America will be in combination with the Company’s Hydrogen as a Service product offering.
The green hydrogen market was valued at USD 676 million in 2022 and is projected to reach USD 7,314 million by 2027, growing at a CAGR of 61% from 2022 to 2027. The market’s growth is attributed to the lowering cost of producing renewable energy by all sources, the development of electrolysis technologies and high demand from FCEVs and the power industry.(1)
Balraj Mann, Chairman & CEO of First Hydrogen stated:
We are very happy to be partnering with Sacré-Davey in delivering this green hydrogen and FCEV projects in Shawinigan.
“For more than 35 years, SacrĂ©-Davey has been at the forefront of hydrogen technology innovation and the implementation infrastructure work.”
Denis Thibodeau, Executive Directeur of Sacré-Davey stated:
Sacré-Davey is pleased to team up with First Hydrogen to develop this structuring project related to the decarbonization of transport.
“Solid from our experience in the field of hydrogen and especially recent successes in the realization of projects related to decarbonization, we are proud to contribute to the success of the First Hydrogen project.”
About First Hydrogen Corp. (FirstHydrogen.com)
First Hydrogen Corp. is a Vancouver and London UK-based company focused on zero-emission vehicles, green hydrogen production and distribution and supercritical carbon dioxide extractor systems. The Company has designed and built hydrogen-fuel-cell-powered light commercial demonstrator vehicles (“LCV”) under two agreements with AVL Powertrain and Ballard Power Systems Inc.
The LCV has a range of 500+ kilometres. These vehicles are currently being trialed with an initial 16 fleet operators in the United Kingdom. At the same time, the company has launched its bespoke vehicle design phase which will develop its fleet of proprietary zero-emission vehicles.
First Hydrogen is also developing refueling capability working with FEV Consulting GmbH, the automotive consultancy of FEV Group of Aachen Germany. The Company is also pursuing opportunities in green hydrogen production and distribution in the UK, EU and North America.
RETRANSMISSION: First Hydrogen Engages Sacre-Davey for Green Hydrogen Production Facility and Hydrogen Vehicle Assembly Factory, Vancouver, British Columbia, July 10, 2023
