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NHHH - FuelPositive News Story

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Sector
Industrials
Size
Micro Cap
Market Cap £41.8m
Enterprise Value £38.6m
Revenue £n/a
Position in Universe 986th / 2696

FuelPositive Announces Final Approval of Intellectual Property Acquisition

Wed 21st April, 2021 11:00am
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TORONTO, April 21, 2021 (GLOBE NEWSWIRE) -- FuelPositive Corporation
(“FuelPositive” or the “Company”) (TSX.V: NHHH) (OTCMKTS: ZNNMF) is
pleased to announce that the TSX Venture Exchange has approved the
intellectual property purchase agreement between the Company and Dr. Ibrahim
Dincer and his team, initially announced on both March 9 and March 29, 2021.

This milestone acquisition of a first-of-its-kind technology to produce
ammonia (NH(3)) – a carbon-free fuel – in a zero-emission manner, by
utilizing only water, air and electricity, positions FuelPositive to take a
leadership position in the continued design and creation of the Hydrogen
Economy.

“Until now, the production of ammonia has been one of the most carbon
intense manufacturing processes on the planet, and given the amount of ammonia
that is used on an annual basis in a variety of applications, ammonia is a
serious negative contributor to greenhouse gases and global warming,” said
Ian Clifford, CEO of FuelPositive. “This development in sustainable ammonia,
and the creation of carbon-free NH(3) that is far more efficient than current
manufacturing systems, could pave the way for the broad acceptance of ammonia
as a fossil fuel replacement.”

In addition to the core FuelPositive team, with decades of experience in the
marketing and engineering of technology-based solutions, the Company welcomes
Dr. Dincer, a preeminent scientist in the NH3 and Hydrogen space, and a core
group of top scientists, as Strategic Advisors to FuelPositive. This exclusive
relationship will ensure that the Company is continually focused on the most
relevant, timely and current thinking in state-of-the-art ammonia and
hydrogen-related technologies.

“The completion of the agreement for our intellectual property marks a very
exciting day for the future of carbon-free fuels and the Hydrogen Economy,”
said Dr. Ibrahim Dincer. “My team and I look forward to continuing to
collaborate and provide scientific guidance to the FuelPositive team as they
commercialize the carbon-free NH(3) system and associated technologies. The
future is bright for the consequential positive change in reducing global
CO(2) emissions.”

Highlights of the expertise of the team include hydrogen and ammonia
specialists; engineers and technical experts in the fields of clean energy,
carbon capture, chemical fertilizers and integrated energy systems; renewable
resource specialists with expertise across multiple clean energy technologies
including solar, wind, geothermal, biomass, ocean thermal and hydropower.

The Company anticipates a vast number of applications that this clean NH(3)
technology can replace directly, with minimal to no adaptation, including in
agriculture, transportation and grid-storage. In the immediate term,
FuelPositive is targeting the technology to be used within the well
established and NH3- familiar agriculture industry, entering the market with a
clean and sustainable solution that will reduce CO(2) emissions profoundly,
and virtually overnight.

The FuelPositive system, in its current state of development, utilizes
approximately 30 percent less energy than any existing ammonia production
technology currently on the market (plus significant Carbon Credit value),
resulting in what will be a significant savings on the energy required to
produce a litre of liquid ammonia. In addition, the system can be utilized as
grid storage wherever renewables are situated.

In consideration for the acquisition of all rights to the technology, the
Company has agreed to issue 50,000,000 common shares to Dr. Dincer and his
team, of which 35,000,000 were issued upon completion of the acquisition and
the balance will be issued after 12 months. All common shares issuable in
connection with the acquisition are subject to a four-month-and-one-day
statutory hold period from the date of issuance.

WEBINAR INFORMATION

FuelPositive CEO, Ian Clifford, will be hosting a live Corporate Overview
Webinar today, April 21, 2021, at 2:00pm ET.

During the live presentation, Ian will present the Company’s April investor
presentation, provide an update on the Company’s current operations, its
upcoming milestones, and share insight on the completed acquisition deal with
Dr. Ibrahim Dincer and his team.

Webinar Registration: 

Date: Wednesday, April 21, 2021
Time: 2:00pm ET (11:00am PT)
Register: https://7514767.hs-sites.com/www.rbmilestone.com/fuelpositive_april21webinar

Management will be available to answer questions following the presentation on
the webinar platform. To ask a question, you will need to be logged into
the GoToWebinar platform or by emailing your question(s) beforehand
to FuelPositive@rbmilestone.com.

The Webinar will be recorded and posted to the Company’s website following
the presentation.

About FuelPositive

FuelPositive is committed to providing commercially viable and sustainable
energy solutions across a broad spectrum of industries and applications.

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.

All statements, other than statements of historical fact, contained in this
press release including, but not limited to (i) generally, or the “About
FuelPositive” paragraph which essentially describes the Company’s outlook
and objectives, constitute “forward-looking information” or
“forward-looking statements” within the meaning of certain securities
laws, and are based on expectations, estimates and projections as of the time
of this press release. 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 statements will prove to be accurate, as actual
results and future events could differ materially from those anticipated in
such statements. Forward-looking statements are 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 statements or to explain any material difference
between subsequent actual events and such forward-looking statements, except
to the extent required by applicable law.

For Media or Investor enquiries, please contact:

Mr. Ian Clifford
Chief Executive Officer
mailbox1@fuelpositive.com

Investor Relations (United States)
RBMG – RB Milestone Group LLC
Trevor Brucato, Managing Director
fuelpositive@rbmilestone.com
www.rbmilestone.com

(https://www.globenewswire.com/NewsRoom/AttachmentNg/8a4697b7-3054-4f52-9004-bd0eff33aef1)



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