FuelPositive (TSX.V: NHHH) (OTCQB: NHHHF) recently held its virtual annual general meeting (“AGM”) in which it shared insights into its progress and the plans for the coming year. According to the company’s CEO and Board Chair Ian Clifford, FuelPositive moved from a cold start, with the acquisition of the intellectual property for the technology 13 months prior, to soon be field-ready with its flagship ammonia production system. Over the 13 months, FuelPositive garnered interest from farmers, including the family of Tracy and Curtis Hiebert that resulted in a letter of intent, making them the company’s first demonstration project partners. In a recorded video that formed part of the AGM, Curtis Hiebert highlighted the struggles in accessing fertilizers as well as the increase in the prices of anhydrous grey ammonia from around CA$650/ton in spring 2021 to $1,200/ton in fall 2021. Curtis believes this figure has since doubled. “It is this price volatility and uncertainty in supply that FuelPositive aims to help framers address with its containerized green ammonia production system,” a recent article reads. “With agriculture using 80% of all grey ammonia being produced currently, FuelPositive is positioning its system as a way to dramatically reduce the carbon footprint of agriculture, simultaneously creating an avenue for customers to offset the prices of the system and for the company to fund future growth through the sale of carbon credits.”
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About FuelPositive Corporation
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 being 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 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 FuelPositive and two accredited third parties, before being moved to a farm in Manitoba, Canada. The company expects to begin serial, assembly-line manufacturing in 2023. For more information about the company, visit www.FuelPositive.com.
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