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FuelPositive Corp. (TSX.V: NHHH) (OTCQB: NHHHF): a 2021 Overall Review
January 25, 2022

FuelPositive Corp. (TSX.V: NHHH) (OTCQB: NHHHF): a 2021 Overall Review

  • FuelPositive has hit multiple milestones throughout 2021, starting with its rebranding in January that ushered it into the world of green hydrogen and ammonia
  • In March, the company acquired the intellectual property for its green ammonia production technology
  • In May, FuelPositive began building its prototype production systems in collaboration with the National Compressed Air in Toronto and is on track to launch multiple real-world demonstration pilot projects throughout 2022
  • The modular, scalable green ammonia production systems offer numerous benefits, including zero carbon emissions and cheaper production costs than traditional grey ammonia production

On January 19, 2021, shareholders, during the annual general and special meeting, approved the rebranding of EEStor Corporation as FuelPositive (TSX.V: NHHH) (OTCQB: NHHHF) (https://ibn.fm/IY2z2), ushering the company into the rapidly burgeoning global hydrogen economy and subsequently into the green ammonia (“NH3”) segment, expected to grow at a 54% CAGR between 2020 and 2025 (https://ibn.fm/Fj9kO).

Since then, FuelPositive has maintained a laser focus, driven by the mission to become a leader in fighting climate change by creating and developing practical, clean, and sustainable carbon-free solutions that can be implemented economically and at present. 

Its flagship offering – a proprietary, modular, scalable system that uses sustainable energy to produce green ammonia by combining nitrogen from the air with hydrogen extracted from water using a sustainable source of electricity – is intended to solve numerous problems, including the difficulty in storing and transporting hydrogen as well as the carbon emissions associated with traditional (“grey”) ammonia production.

FuelPositive added this green ammonia production technology, a brainchild of Dr. Ibrahim Dincer and his research team at Ontario Tech University, to its intellectual property (“IP”) portfolio in March 2021 following an IP purchase agreement.

“In May, we formed our manufacturing partnership with National Compressed Air to build our prototype systems; in June, we filed for our provisional patent and began to build our prototype production systems. Since then, we have raised over CA$12 million, which will cover our costs to build a number of green NH3 production systems. We are on track to launch multiple real-world demonstration pilot projects to showcase our technology throughout 2022,” said FuelPositive CEO and Board Chair Ian Clifford in a November 18 corporate update in which the company released an operational costing model and the timeline for its green ammonia technology (https://ibn.fm/STwU1). 

As part of the update, and based on a case study conducted in Manitoba, Canada, FuelPositive noted the green anhydrous ammonia produced by its system is about 40% cheaper to an end-user than grey ammonia. Accordingly, it offers additional benefits such as independence from the wildly volatile supply chain associated with grey anhydrous ammonia; on-site production that can be scaled depending on the demand and requirements; and a stable, predictable, and highly competitive cost per metric ton of producing green ammonia compared with the delivery price of an equivalent quantity of grey anhydrous ammonia.

The company’s green ammonia system is transportable and modular, built to shipping container configurations – 20- and 40-foot containers, consumes less energy than conventional ammonia production, and does not have a carbon footprint. And as Clifford reiterated during a recent interview with The Tactical Leader Podcast, the company’s commitment to sustainability and environmental preservation extends beyond just producing green ammonia:  “. . . we look seriously at the impact of every step of our technology, not just the outcome of the product being carbon-free or non-polluting,” said Clifford. “Where does the steel come from that builds our systems? Where are the different technologies sourced? Where are the different raw materials from? It’s a real ‘cradle to cradle’ attitude in terms of our impact.” (https://ibn.fm/akJj7). 

Clifford also touched on the various applications of green ammonia, including as a fertilizer in the agriculture sector, fossil fuel replacement for the transportation sector, and a hydrogen storage medium (energy storage). 

In addition, 2021 represented remarkable milestones regarding the company’s engagement with investors and shareholders. In July, FuelPositive common shares debuted on the OTCQB Venture Marketplace, presenting a unique opportunity to increase its investor audience, visibility, and liquidity (https://ibn.fm/ToQXC). Similarly, FuelPositive participated in the H.C. Wainwright 23rd Annual Global Investment Conference held September 13-15, 2021.

For more information, visit the company’s website at www.FuelPositive.com.

NOTE TO INVESTORS: The latest news and updates relating to NHHHF are available in the company’s newsroom at https://ibn.fm/NHHHF

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