Hydrogen Vehicle Company Praised by Report

First Hydrogen Corp. (FHYD:TSX; FHYDF:OTC; FIT:FSE) has reported in a press release that the company has received a positive review from award-winning fleet management company Rivus. The report is available on First Hydrogen's website. According to the press release, Rivus reviewed First Hydrogen's hydrogen fuel cell-powered vehicle (FCEV) and remarked that "overall, the vehicle performed very well during testing, appearing much more robust than BEV [battery electric vehicles] in terms of how vehicle efficiency was affected by different load factors."

The press release stated that the report was conducted by comparing First Hydrogen's FCEVs against BEVs, as well as standard gas and diesel-powered vehicles. First Hydrogen reports that its vehicles can run off of both the hydrogen fuel cell and a battery, giving it versatility in both urban environments and on sustained journeys.

According to the company, in addition to its FCEV's efficiency compared to regular gas and diesel-powered vehicles, fast refueling allows the vehicles to return to the delivery route sooner.

Hydrogen Part of Decarbonization Efforts

According to the International Energy Agency, the demand for hydrogen has been growing since 1975, and the use of hydrogen as a form of green energy has been encouraged by governments around the world.

Technical Analyst Clive Maund rated First Hydrogen as a "Buy" for potential investors.

Markets and Markets reports that as nations around the world aim for a net zero carbon footprint by 2050, hydrogen fuel may account for 6.5% of reduction measures.

The Department of Energy reports that its long-term research goal (achievable within the next ten years) is to bring the cost of producing clean hydrogen down to US$1/kg.

No Shortage of Positive News

Technical Analyst Clive Maund rated First Hydrogen as a "Buy" for potential investors.

Newsletter Writer Ron Struthers commented, "First Hydrogen is at the very beginning of its growth cycle.

Maund commented that "there has been no shortage of positive news from the company in recent weeks, and if this continues, it could drive the stock price higher, which is what is suggested by the strong upside volume in the recent past."

Newsletter writer Ron Struthers compared the company to Tesla and highlighted the company's trials in the United Kingdom. Struthers commented, "First Hydrogen is at the very beginning of its growth cycle. It will have revenues from selling FCEVs that have now reached acceptance, and I expect will soon see major purchase orders."

Catalysts

The company reports a number of catalysts on the horizon, including a rollout of its first generation of vehicles in 2026 and the release of its next generation of large vehicles in 2028.

According to First Hydrogen, with the release of the company's first generation of vehicles, the company is establishing an assembly plant and a hydrogen production plant in Canada.

Ownership and Share Structure

First Hydrogen provided a breakdown of its ownership and share structure, where management and insiders own 5.51% of the company. 

According to Reuters, Executive Chairman Nicholas Wrigley owns 4.23% of the company with 3.00 million shares, Chairman and CEO Balraj S Mann owns 1.00% with 0.71 million shares, CPA Barry Hartley owns 0.14% with 0.10 million shares, and director Alicia Milne owns 0.14% with 0.10 million shares.

Institutions in the form of Van Eck Associates Corporation own 0.72% with 0.51 million shares.

According to the company, there are 70.92 million outstanding shares and 66.50 million free-float traded shares.

The company has a market cap of CA$165.96 million and trades in the 52-week period between CA$2.24 and CA$5.06.

Important Disclosures:

1. First Hydrogen Corp. has a consulting relationship with an affiliate of Streetwise Reports, and pays a monthly consulting fee between US$8,000 and US$20,000. 
2. Amanda Duvall wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. 
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