WATERLOO, Ontario, Feb. 17, 2023 (GLOBE NEWSWIRE) -- FuelPositive Corporation (TSX.V: NHHH) (OTCQB: NHHHF) (“FuelPositive” or the “Company”) initiated system testing of its on-farm, containerized Green Ammonia production system to test its resilience to extreme outdoor weather conditions in anticipation of deployment in Manitoba, Canada.
Fully Climatized Containerized Modules
Currently, the system components have been operating extremely well under winter conditions. The system is climate controlled and designed to be fully operational between -50 C and +45 C.
“FuelPositive has successfully built our containerized modules as fully climatized systems, capable of working in extreme temperatures, ranging from minus 50 C to plus 45 C. The units are temperature controlled and built to the strictest hazardous area classifications with redundant monitoring. Our systems are engineered to run without any operator intervention or operator input,” stated Nelson Leite, COO of the Company.
Green Ammonia Converter Readiness
We are excited to report further progress with our proprietary and specialty Green Ammonia converters, as shown in the attached image in our lab, as they are being in-house tested for independent third-party validation.
Our Converters play a major role in our systems unique ability to convert input gasses of hydrogen and nitrogen into Green Ammonia in a safe, reliable, and highly efficient manner.
“The converters life cycle is expected to be approximately 30 years and each converter perform at rates that make our system extremely efficient. Our modular design ensures that our Green Ammonia production process operates safely and effectively when dealing with off-grid power fluctuations and peak power versus off-peak power utilization, in real time,” stated Nelson Leite. “The FP300 is the first of its kind in the world and is the culmination of the creativity and engineering skill of many minds. We have assembled a brilliant team that is making a serious impact on this groundbreaking technology every day,” added Leite.
“We continue to run final testing on our various ultra-high purity (UHP) gases with week-after-week of successful testing, in extreme conditions, at our facility in Waterloo. I am very pleased with our progress as all tests have met or exceeded our expectations so far,” said Francisco Mora, Lead Chemical Engineer, in charge of the testing. “We have built our manufacturing and lab from scratch and it’s great to be a part of a company pioneering this important sustainable technology,” added Mora.
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. The Company began accepting pre-sale inquiries in August 2022. 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 the expected expenditures of the proceeds of the private placement, 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.
For Investor enquiries, please contact:
Ian Clifford
Chief Executive Officer and Board Chair
info@fuelpositive.com
www.fuelpositive.com
Investor Relations (United States)
RBMG – RB Milestone Group LLC
Trevor Brucato, Managing Director
fuelpositive@rbmilestone.com
www.rbmilestone.com
For Media enquiries, please contact:
Oliveah Numan
Sussex Strategy Group
519-770-2991
onuman@sussex-strategy.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3f248442-aafd-4139-96db-505b0dca0b74
