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FuelPositive Corp. (TSX.V: NHHH) (OTCQB: NHHHF) Files Audited FY 2021 Financial Statements; On Track to Commercialize its Green Ammonia Production System
February 9, 2022

FuelPositive Corp. (TSX.V: NHHH) (OTCQB: NHHHF) Files Audited FY 2021 Financial Statements; On Track to Commercialize its Green Ammonia Production System

  • FuelPositive just filed its audited financial statements for the year ended September 30, 2021
  • Initial demonstration systems for green ammonia production are scheduled for launch and validation, starting in mid-2022
  • FuelPositive has also hired Counsel Public Affairs Inc. to offer government relations services
  • It also announced the appointment of Jeanne Milne to lead the company’s efforts to secure government grants
  • The company’s new head office will be located within the Kitchener-Waterloo area, and new staff will be joining the company once the space is secured

FuelPositive (TSX.V: NHHH) (OTCQB: NHHHF) just filed its audited financial statements for the 2021 financial year, in what is projected to be the company’s best year yet, also announcing significant milestones, particularly with its demonstration project rollout scheduled for mid-2022 (https://ibn.fm/1HSU1). Financial materials are available publicly under the FuelPositive profile on the SEDAR website (www.sedar.com). 

The initial demonstration systems for the company’s green ammonia production system, which were scheduled for launch by mid-2022, are on schedule. Comprising of three elements- a nitrogen generator, a water electrolyzer, and a green ammonia synthesis reactor, FuelPositive is confident that it will begin validating the demonstration system in mid-2022.

FuelPositive also announced the first demonstration pilot project- a 6,000-acre grain and plant-based farm located in Manitoba. This location will offer the company an avenue to test the production unit and show what it can do in the harsh Canadian climate.

“We are on track to deploy our first prototype in Manitoba in late summer 2022,” noted Ian Clifford, the Chief Executive Officer (“CEO”) and Board Chair of FuelPositive.

“Our first site visit, which was conducted last week, went extremely well and we are now finalizing our agreement with the farmer,” he added.

FuelPositive has also brought on board Counsel Public Affairs Inc., one of Canada’s leading public affairs agencies, to offer government relations services going forward. Additionally, this agency will be working alongside Sussex Strategy Group to further the company’s interests. FuelPositive’s management notes that with its focus on decarbonizing agriculture and building energy independence, it shares various goals with all levels of government across Canada. As such, having Counsel Public Affairs Inc. as a partner would help it navigate through the market efficiently and achieve its set goals.

“Counsel Public Affairs complements the team at Sussex Strategy Group, setting us up well to identify areas of common interest between FuelPositive and the provincial governments in Western Canada as they tackle climate change,” noted Mr. Clifford.

In December 2021, FuelPositive appointed Dr. Claudia Wagner-Riddle, the first member of its Agriculture Sector Advisory Panel. The nomination aligned with the company’s goal to advise farmers on how to best use its green ammonia on their farms and reduce on-farm emissions. The company has announced that it is finalizing the membership of this panel, which would go hand in hand with the appointment of Jeanne Milne to lead the company’s efforts to secure government grants.

Jeanne will lend her vast experience supporting small- and medium-sized enterprises to navigate shifting markets and helping tech companies to earn revenue from their innovations. She has also founded, managed, and grown two companies and has held various key leadership positions in an international consumer goods company.

FuelPositive also announced its new head office location- the Kitchener-Waterloo area. A lease has been signed for office and lab space in the Catalyst 137 building in Kitchener, Ontario. The Company is continuing to look for manufacturing space in the same area of Ontario, which is convenient for international visitors, close to the major town of Toronto, and offers affordable housing for its employees.

The company has also announced that it is actively recruiting new hires. Job descriptions have already been posted on the company’s website, and interviews are underway for critical positions, including but not limited to Mechanical Designer, Chemical Engineer, Tooling Technician, Junior Research Assistant, and Human Resources Consultant.

FuelPositive’s management is excited about the company’s plans going forward and its technology’s potential, specifically with addressing global warming.

“FuelPositive is moving forward at full speed to commercialize our in situ, modular, scalable and transportable green ammonia production system. As the weeks go by, the world is becoming increasingly excited about the potential of green ammonia to decarbonize our industries, offer control and energy independence to consumers, and provide food security for our future,” noted Nelson Leite, the Chief Operating Officer (“COO”) of FuelPositive.

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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