Corporate Update: FuelPositive Initiatives Progressing as Planned
June 24 2021 - 3:25PM
via InvestorWire -- FuelPositive Corporation (TSX.V: NHHH)
(OTCMKTS: NHHHF) (“FuelPositive” or the “Company”) is issuing the
following update to share the status of the company and its various
initiatives.
“With extensive incoming shareholder inquiries over the last
several weeks, we felt it would be helpful to provide a detailed
update,” said FuelPositive CEO Ian Clifford. “We are in a strong
position overall and are pleased with the opportunities unfolding
for us to continue to build shareholder value in the company.”
All announced initiatives are progressing as planned. Further
details are as follows:
Financing
- Having announced the completion of a CAD 5 million, U.S.
institutional financing on June 18, 2021, the Company’s balance
sheet is strong and provides for full funding of its Phase 2
Hydrogen-Ammonia Synthesizer commercial prototype systems being
built with National Compressed Air Canada Ltd. (NCA). This will
confirm the broad application potential for FuelPositive’s
technology and is the backbone of the Company’s Carbon-Free
Ammonia-NH3 offering.
- During the last
quarter, FuelPositive has also had extensive warrants exercised.
The Company’s current cash balance is over CAD 6 million.
Intellectual Property Protection
- With the filing on
June 6, 2021 of a comprehensive provisional patent related to
FuelPositive’s core NH3 technology, the Company now has in place
the foundational intellectual property protection for its ammonia
and hydrogen systems.
- The provisional
patent also includes a number of other technology initiatives
related to the core technology that will be built upon further and
appropriately protected in the coming months.
Growing Team
- FuelPositive
continues to grow its core team and will announce additions as
contracts are completed and team members join the Company.
- Key strategic
consulting partners are also being added as aspects of the business
plan advance.
- Dr. Ibrahim Dincer
and his team are fully engaged in all facets of the Company’s Phase
2 Carbon-Free Ammonia-NH3 development and build.
- The Company is
actively recruiting key members to join the FuelPositive technology
advisory committee.
Future Acquisitions
- FuelPositive is
exploring further complementary acquisitions to broaden its
sustainability portfolio directly related to carbon free ammonia,
power generation and enabling technologies.
About FuelPositive
FuelPositive is a Canadian-based growth stage company committed
to providing commercially viable and sustainable energy solutions,
including clean ammonia (NH3), for use across a broad spectrum of
industries, systems and applications.
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) accepts 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 at the date of this news release. The information in
this release about future plans and objectives of the Company 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 Media or Investor enquiries, please contact:
Mr. Ian CliffordChief Executive
Officerinvestors@fuelpositive.comwww.fuelpositive.com
Investor Relations (United States)
RBMG - RB Milestone Group LLCTrevor Brucato, Managing
Directorfuelpositive@rbmilestone.comwww.rbmilestone.com
Corporate Communications:InvestorBrandNetwork (IBN) Los Angeles,
California www.InvestorBrandNetwork.com 310.299.1717 Office
Editor@InvestorBrandNetwork.com
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