FuelPositive Hires André Mech as Strategic Carbon Credit and Emissions Reduction Specialist
July 12 2021 - 8:00AM
FuelPositive Corporation (TSX.V: NHHH) (OTCMKTS: NHHHF)
(“FuelPositive” or the “Company”) has hired Canadian-based André
Mech as a strategic carbon credit and emissions reduction
specialist. Mech has been advising organizations and governments
focused on sustainability, energy efficiency and carbon reduction
worldwide since 2001 – most recently in North America and Europe.
As one of the most knowledgeable emissions reduction and carbon
credit specialists in the sector, he has assessed the emission
profiles of hundreds of technologies.
“We are delighted that André has joined us,” said Ian Clifford,
CEO of FuelPositive. “His expertise is already helping to guide us
as we make critical decisions about the technologies we choose to
develop and our market entry strategies. His analysis of our first
product – carbon-free ammonia – is providing valuable insights into
where and how we can have the most impact, looking at it sector by
sector. He is also conducting due diligence on a possible new
acquisition and providing counsel on the best way forward regarding
carbon credits.”
“I believe FuelPositive’s carbon-free NH3 is going to play a
significant role in reducing greenhouse gases worldwide and will
have applications in all sectors. I’m excited to play a role in
introducing FuelPositive solutions to compete for opportunity
across a broad range of markets so the Company and its technologies
can have the greatest possible environmental and economic impact,”
said Mech. “I am also excited to be working with the whole
FuelPositive team. They have real-world experience and understand
how important it is to make the right decisions based on the best
information available at the time.”
FuelPositive’s Carbon CreditsMech will advise
the Company on the development of its emission reduction credit
policy. The Company anticipates generating significant revenue from
carbon credits alone. The revenue will fund future growth and
investment in new technologies.
Each ton of carbon-free NH3 produced using FuelPositive’s system
will reduce CO2 emissions by more than 4 tons. This is significant
when one considers that roughly 200 million tons of traditionally
produced ammonia is consumed worldwide each year.
In Canada, each ton of FuelPositive’s carbon-free NH3 used as a
fertilizer will be eligible for up to 2.5 carbon credits; each ton
used to replace fossil fuels will be eligible for up to 5 carbon
credits. Emission reduction credit can be even higher in other
global jurisdictions. With Mech’s guidance, the Company will work
through the official channels and registries in each jurisdiction
where they exist around the world.
“The carbon credits should add significantly to FuelPositive’s
profitability,” added Clifford. “This revenue will help fund the
development of new technologies that will further our mission: to
be a leader in fighting climate change by creating and developing
practical, clean and sustainable carbon-free solutions that can be
implemented economically now. The world can’t wait, and
FuelPositive is committed to this cradle-to-cradle positive
shift.”
Growing TeamMech is the first of a group of
experts who will be working closely with the Company as it moves
forward with its business plan, focused on the development of
carbon-free ammonia and other clean technologies. The Company is
continuing 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 specific
aspects of the business plan advance.
About Carbon CreditsIn Canada and many other
countries, industries that are covered by the federal carbon
pricing system have emissions limits. If they go above the limit,
they must pay the carbon price or purchase carbon credits.
Facilities that emit less than the annual limit receive surplus
carbon credits for the portion of their emissions that is below the
limit. Organizations bank and trade carbon credits as required.
About FuelPositiveFuelPositive 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 StatementTrading 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 StatementsThis 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 that 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 actual results 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, CAwww.IBN.fm310.299.1717
OfficeEditor@NetworkNewsWire.com
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