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First Hydrogen (TSXV:FHYD) and Universite du Quebec a Trois-Rivieres enter partnership

Market News, Renewable Energy
TSXV:FHYD
09 May 2023 11:48 (EDT)

First Hydrogen (FHYD) has entered into a partnershi with the Universite du Quebec a Trois-Rivierse to establish a sustainable energy transition in Quebec.

Under the partnership, the company will provide one of its hybrid fuel cell powertrains, including the cell mudle, to the university’s Hydrogen Research Institute (HRI).

This will will enable the insitute to undertake comprehensive testing to collect valuable data and imrpove components related to the design of the power train.

HRI and the company will also collaborate on developing training tools and protocols for engineer sand technicians.

“By combing our industry expertise with HRI’s research capabilities, not only will we work towards a greener and more sustainable future in transportation, but we will also solidify Québec’s position as a global leader in hydrogen development,” Bairaj Mann, CEO of First Hydrogen, said in a release.

First Hydrogen has also announced it has purcahsed two plots of land in Shawnigan where it will produce up to 35 megawatts of green hydrogen. The factory will be able to produce 25,000 vehicles per year at full capacity.

Shares of First Hydrogen (FHYD) are down 2.11 per cent to C$2.79 as of 11:09 a.m. EDT.

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