TORONTO, June 02, 2022 (GLOBE NEWSWIRE) – FuelPositive Corporation (TSX.V: NHHH) (OTCQB: NHHHF) (“FuelPositive” or the “Company”) is pleased to announce that it has filed a U.S. Non-Provisional Patent Application for the Company’s “Modular Transportable Clean Hydrogen-Ammonia Maker” with the United States Patent and Trademark Office (US non-provisional patent application serial number: 17/826641). The application claims priority out of FuelPositive’s U.S. Provisional Patent Application filed on June 7, 2021 and elaborates upon FuelPositive’s inventive concepts.
FuelPositive has also filed a companion Patent Co-Operation Treaty (“PCT”) Patent Application Preserving FuelPositive’s right to its proprietary invention in all 156 PCT member states. This PCT Patent Application also claims priority out of FuelPositive’s U.S. Provisional Patent Application filed June 7, 2021.
The Company’s flagship technology is a containerized system that takes water, air and sustainable electricity to produce green, carbon-free, anhydrous ammonia on site, where end users need it. The system includes an electrolyzer to produce hydrogen from water, a nitrogen generator to produce nitrogen from air, and an ammonia synthesis converter to produce green ammonia from the nitrogen and hydrogen on a continuous basis.
“We continue to refine our proprietary systems and apparatus in the process of constructing our demonstration systems,” said Ian Clifford, CEO and Board Chair of FuelPositive.
“There is a worldwide shortage of ammonia and fertilizer and seriously compromised supply chains, making our decentralized and containerized on-site green ammonia production systems acutely needed. We are being approached daily by people and companies from all over the world who want our systems so they can control their supply, timing and pricing, while dramatically reducing carbon emissions. By filing these patent applications, we are setting ourselves up to be able to deliver green anhydrous ammonia and its derivatives wherever the technology is needed in the coming years, ”added Clifford.
FuelPositive is a Canadian technology company committed to providing commercially viable and sustainable “cradle to cradle” clean technology solutions, including a containerized green ammonia (NH3) production system for use across a broad spectrum of industries and applications. By focusing on technologies that are clean, sustainable and economically advantageous / realizable, the Company aims to change the course of climate change through practical solutions that can be implemented in the short term.
The FuelPositive containerized green ammonia production system produces 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 as a key enabler of the hydrogen economy.
FuelPositive systems are designed to provide for green ammonia production on-site, where it’s needed. This eliminates wildly fluctuating supply chains and offers end-users energy and supply security, while cutting carbon emissions from the production process. The first customers will be farmers. Farmers use 80% of the traditional ammonia produced today as a fertilizer.
Already proven in the lab, FuelPositive is currently building three full-sized systems. The first system will be field-ready and fully validated by FuelPositve and two accredited third parties by late summer 2022, before being moved to a farm in Manitoba, Canada. The Company expects to begin serial, assembly-line manufacturing in 2023.
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) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain “forward-looking information” and “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 the 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.
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