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First Hydrogen (TSXV:FHYD) partners with FEV Consulting to develop hydrogen refueling stations

Renewable Energy, Technology
TSXV:FHYD
20 December 2021 09:00 (EDT)

First Hydrogen (FHYD) is working with German consulting company FEV to design a prototype liquid hydrogen refueling station.

Headquartered in Aachen, Germany, FEV Consulting GmbH has over 35 years of experience in product development, production planning, and cost engineering.

First Hydrogen and FEV have signed an agreement to jointly design and manufacture a prototype refueling station that will better serve First Hydrogen’s own mobility customers and the broader hydrogen fuel mobility market.

According to a report published by Next Move Strategy Consulting, the hydrogen fuel cell vehicle market is expected to hit US$851 billion by 2030.

First Hydrogen plans to capitalize on this growth with the production of the Hydrogen Mobility Refueling Station, using the prototype to market other hydrogen-related technology to its customer base.

The refueling stations are expected to accelerate the adoption of hydrogen as a main source of fuel and will serve owners of First Hydrogen vehicles over the lifetime of their vehicles.

First Hydrogen is a Vancouver-based company focused on zero-emission vehicles and supercritical carbon dioxide extractor systems.

The company is also developing a hydrogen-fuel-cell-powered light commercial vehicle, making the Hydrogen Mobility Refueling Station the logical next step in its automotive strategy.

First Hydrogen will also offer fuel-cell-powered supercritical CO2 extraction systems that will allow users to operate the systems in remote locations where there are no electrical power grids available or where the electrical power is unstable.

First Hydrogen Corp. (FHYD) opened trading at $1.70 per share.

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