Synopsis
First Hydrogen Corp. partners with EVT to pioneer high-power compact batteries tailored for hydrogen-powered fuel cell vehicles. The collaboration aims to enhance efficiency and performance for these vehicles, having already clocked 10,000 km during trials in the UK. As the market trends toward sustainable transport, the venture holds promise in addressing emission concerns.
Article:
First Hydrogen Corp., a Vancouver-based company (TSXV: FHYD), takes a significant leap towards revolutionizing zero-emission vehicles by teaming up with EVT (EV Technologies Inc.) to develop cutting-edge high-power compact batteries for hydrogen-powered fuel cell vehicles (FCEVs). The term sheet signed between First Hydrogen and EVT marks a pivotal moment, outlining plans for a commercial partnership agreement focused on technical requirements and investments. This agreement grants First Hydrogen ownership of all intellectual property generated during this collaboration, specifically dedicated to manufacturing the battery.
The battery system in development by First Hydrogen’s engineering team, in tandem with automotive partners, is projected to elevate efficiency and performance for hydrogen-powered FCEVs. This breakthrough battery design aims to seamlessly integrate with the vehicles' hydrogen fuel cells, catering specifically to the hydrogen-powered vehicle market.
Following rigorous assessments of global battery technologies, First Hydrogen identified EVT, a Quebec-based leader in innovative traction battery systems, for this critical partnership. EVT’s innovative batteries align perfectly with First Hydrogen's stringent specifications, underscoring their commitment to quality and performance.
Trials conducted by First Hydrogen with UK fleet owners and operators RIVUS and SSE plc have showcased impressive performance. These hydrogen-powered FCEVs have effortlessly covered over 10,000 km during testing, exhibiting an impressive range of 630 km on a single refueling. This range easily surpasses that of electric light commercial vehicles, making a compelling case for the viability and effectiveness of hydrogen-powered transportation
Market projections by Global Market Insights indicate robust growth in the light commercial vehicle market, expected to reach $19.9 trillion by 2032, driven by factors like stringent vehicle emission regulations, advancements in safety, and the burgeoning e-commerce sector. These developments signify a burgeoning demand for advanced commercial vehicles, adding impetus to innovations in sustainable transport.
Vincent Darlix, CEO of EVT, expressed gratitude for the partnership, emphasizing EVT Batteries' commitment to delivering top-tier performance and safety. Balraj Mann, Group CEO of First Hydrogen, highlighted the importance of establishing robust supply chains with regional partners, positioning the collaboration with EVT as a pivotal step in their growth and development.
EVT Batteries specializes in crafting high-energy battery packs targeting heavy-duty vehicles such as trucks, buses, and industrial vehicles. Their innovative technologies promise a 30% increase in energy density compared to existing battery packs, ensuring superior power capability and safety. EVT's 1 GWH plant, operational from Q2 2024 near Montreal, aligns perfectly with their North American customer base.
First Hydrogen Corp. focuses on zero-emission vehicles, green hydrogen production, and distribution. Their hydrogen-powered FCEVs, developed in collaboration with AVL Powertrain and Ballard Power Systems Inc., offer an impressive range of 630+ kilometers. The company's dedication to sustainable transport is further emphasized by their ongoing efforts to establish a hydrogen production facility and a vehicle assembly factory in Shawinigan, Quebec.
Balraj Mann, Chairman & Chief Executive Officer of First Hydrogen, expressed the company's commitment to driving sustainable transport initiatives through this partnership with EVT, underscoring their efforts towards a cleaner, greener future.
Conclusion
First Hydrogen Corporation joins forces with EVT to create cutting-edge compact batteries for hydrogen-powered fuel cell vehicles. Through rigorous testing and partnerships, these vehicles have already showcased a remarkable range, surpassing traditional electric vehicles. As the market trends towards sustainability, this collaboration holds promise in meeting the demands for eco-friendly transportation solutions.
