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  • First Hydrogen set to produce green hydrogen from SMRs

    First Hydrogen set to produce green hydrogen from SMRs

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    First Hydrogen Corp. (TSXV: FHYD) (OTC Pink: FHYDF) (FSE: FIT) is reviewing various projects in effort to expand its hydrogen-as-a-service (HAAS) offering using small modular reactors.

    The Company is exploring the potential of producing green hydrogen using power supplied by small modular nuclear reactors (SMRs).

    Power grids are unable to keep up with increasing energy demand. Notably, several firms have entered into an agreement to expand nuclear power capacity to support the operation of their data centres, which run and train generative AI models.

    How SMRs could help increase grid power for green hydrogen

    SMRs are compact, efficient nuclear energy systems that offer a scalable and low-carbon alternative to traditional energy sources.

    They are much smaller than large-scale traditional nuclear reactor facilities, sometimes as small as 1/10th the size of traditional nuclear reactors.

    International bodies widely recognise nuclear energy as a green energy source due to its ability to produce large amounts of electricity with minimal greenhouse gas emissions.

    First Hydrogen seeks to install these SMRs in areas where grid power is limited or non-existent to produce green hydrogen for refuelling stations.

    green hydrogen, SMRs

    Innovative and sustainable energy solutions

    SMR-powered hydrogen production aligns with First Hydrogen’s commitment to delivering innovative and sustainable energy solutions. These advancements further support the global energy transition and First Hydrogen’s mission to play a pivotal role in the clean energy ecosystem.

    Balraj Mann, CEO at First Hydrogen, commented: “Nuclear energy provides a consistent power source for the production of hydrogen, unlike solar or wind power.

    “The cost of electricity from an SMR would be about $36/MWh (3.6 cents per kWh). Large tech companies have seen the need to secure low-cost energy for the foreseeable future and, recently, have made significant investments in nuclear energy.”

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  • First Hydrogen expands into Europe with focus on hydrogen fuel cell vehicles

    First Hydrogen expands into Europe with focus on hydrogen fuel cell vehicles

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    First Hydrogen Corp. has announced a major step in its global expansion by targeting the European market.

    The company has partnered with several international firms specialising in renewable energy, infrastructure, and mergers to support the growth and expansion of its hydrogen fuel cell vehicles.

    The company plans to establish an office in Germany, a country known for its advanced technology and leadership in the automotive industry.

    This move aligns with First Hydrogen’s mission to introduce its hydrogen fuel cell vehicles to the European market, positioning itself as a key player in the growing hydrogen economy.

    Germany is an ideal starting point for First Hydrogen’s expansion, given its significant focus on hydrogen technology.

    The country is home to major automakers like Volkswagen, BMW, and Mercedes-Benz, which align perfectly with the company’s goal of promoting hydrogen-powered vehicles.

    Germany’s national hydrogen strategy

    In 2020, Germany unveiled a national hydrogen strategy aimed at promoting green hydrogen as a primary energy source. This shift is part of the country’s larger goal to reduce its reliance on fossil fuels.

    In late 2023, Germany took another step forward by drafting legislation for a 9,700-kilometer hydrogen highway.

    This network will use existing natural gas infrastructure to support hydrogen transportation and distribution across the country, similar to the extensive autobahn system.

    Germany is already home to 17 hydrogen hubs, known as ‘Hydrogen Valleys,’ which are either operational or in development.

    These hubs are designed to foster the production, storage, and use of hydrogen, and will play a crucial role in building a fully integrated hydrogen ecosystem.

    First Hydrogen’s entry into Germany is well-timed, as the country’s hydrogen infrastructure continues to grow rapidly, creating opportunities for the company’s hydrogen fuel cell vehicles to enter the market.

    First Hydrogen’s role in Europe’s hydrogen ecosystem

    Europe has made significant progress in building a hydrogen economy, with the European Commission approving multiple Integrated Projects of Common European Interest (IPCEIs) for hydrogen development.

    These projects, valued at €43bn, are intended to support over 120 hydrogen initiatives across the continent, covering everything from production to end-use.

    Germany alone has committed €4.6bn to these efforts, making it a central player in Europe’s hydrogen transformation.

    First Hydrogen’s entry into the German market positions it to benefit from this growing hydrogen infrastructure.

    The company’s hydrogen fuel cell vehicles have already proven successful in trials in the UK, and now, First Hydrogen aims to replicate that success across Europe.

    Supporting Europe’s net zero target

    The European Union has set an ambitious goal to achieve Net Zero carbon emissions by 2050, and hydrogen is central to this strategy.

    First Hydrogen’s expansion into Europe, and particularly Germany, reflects its commitment to supporting Europe’s clean energy targets.

    The company’s innovative hydrogen-powered vehicles provide a practical solution for reducing carbon emissions in transportation, helping countries meet their sustainability goals.

    Growth strategy and stock options

    The company has announced the award of 2,050,000 incentive stock options to its directors, officers, and consultants.

    These options have an exercise price of $0.40 per share and will expire five years from the grant date. The issuance of these options is contingent upon approval from the TSX Venture Exchange.

    As First Hydrogen continues its expansion into the European market, further developments are expected, particularly regarding its role in Germany’s hydrogen infrastructure.

    With its cutting-edge fuel cell technology and strategic positioning, First Hydrogen is well on its way to becoming a leader in the global hydrogen economy.

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