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Team Building, Manufacturing Space, R&D Labs, New Headquarters and Granting Options, The Canadian Business Journal

TORONTO, November 10, 2022 (GLOBE NEWSWIRE) — FuelPositive Corporation (TSX.V: NHHH) (OTCQB: NHHHF) (“FuelPositive” or the “Company”) is issuing a series of updates, news releases and images to provide an update on its progress as it enters the final assembly and validation phases of its on-farm containerized green ammonia production system. sharing. Building the team and completing the first manufacturing facility, R&D lab and new headquarters is a significant milestone that will enable the company to accelerate the commercialization of its products.

“While working on our first demonstration system, we have also prepared the company for rapid growth. We knew early on that we needed to organize, we did it right, we knew exactly what talent we needed and we had the right talent to attract and retain the best talent. We quickly put the system in place, and as soon as job seekers hear about it, they realize that we are making a significant contribution to agricultural sustainability and global food security, so we It helps. They want to be a part of it,” said Nelson Leite, Chief Operating Officer and Director of FuelPositive. “We believe the team we have built is the best in the industry!”

“We also knew our team needed top-quality manufacturing facilities, highly sophisticated R&D labs, and more office space to get it all done. said we’d do it all, and we’re proud to prove it – it feels like a record-breaking time!” added Late.

Team recruitment
A number of key hires have been completed, reinforcing the Waterloo team as they work towards completing system builds and starting first batch production. Specifically, the team included a chemical engineer, an electrical engineer, a design and execution manager, a master electrician, and an office manager. In addition, a purchasing manager, another chemical engineer, a high pressure process piping specialist, and a sales representative are also employed.

“Nelson and our HR team have done an excellent job of attracting and retaining top talent to play key roles throughout the organization. I am deeply grateful to

New Headquarters/Sales Headquarters
FuelPositive will open a corporate office at 420 Weber Street in Waterloo, Ontario to serve as its corporate and sales headquarters. Nelson Leite said: “This gives us even more room to grow as we build our sales and engineering teams.”

Opening and completion of manufacturing and R&D labs
Our first manufacturing facility and R&D lab at 99 Northland, Waterloo, Ontario is complete and fully staffed. Final validation of the containerized system is being done there, and batch manufacturing will take place at the site until the company is ready to move to mass production.

FuelPositive, announced in August, has identified a location near its Waterloo facility to build a bespoke factory with a land development partner. Yes, it will meet our needs as we switch from batch to serial or assembly line manufacturing in late 2023.

option grant
The Company also announces that it has granted a total of 34,250,000 incentive stock options (“option”) to certain directors, officers, employees and consultants. Options will vest and become exercisable over a period of 24 months. A quarter of the option will vest after six months, and a further quarter will vest every six months thereafter. The options are exercisable for a period of 60 months to acquire an equivalent number of shares of our common stock at a CDN price of $0.13.

About FuelPositive
FuelPositive is a commercially viable and sustainable ‘cradle-to-cradle’ clean technology solution that includes an on-site containerized green ammonia (NH3) production system that eliminates carbon emissions from green ammonia production. is a Canadian technology company committed to providing By focusing on clean, sustainable and economically advantageous/feasible technologies, we aim to change the course of climate change through practical solutions that can be implemented in the short term.

The FuelPositive onsite containerized green ammonia production system provides pure anhydrous ammonia for multiple applications including agricultural fertilizer, grain drying and fuel for internal combustion engines, a viable alternative to fuel cells, and grid storage solutions. is designed to produce Green ammonia is also considered a key enabler of the hydrogen economy.

The FuelPositive system is designed to produce green ammonia on-site as needed. This eliminates the wildly fluctuating supply chain, providing energy and supply security to the end user while reducing carbon emissions from the production process. Our first customers are farmers. The farmer uses his 80% of the conventional ammonia currently produced as fertilizer.

We will begin accepting pre-sale inquiries in August 2022. For pre-sales details, please visit https://fuelpositive.com/pre-sales/.

Trading in our securities should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained herein. Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.

Forward-Looking Statements
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) that are based on our expectations, estimates and projections as of the date of this news release. is included. Information in this release regarding the Company’s future plans and objectives, including the anticipated expenditure of proceeds from private placements, is forward-looking statements.

These forward-looking statements are based on our management’s assumptions and estimates at the time they were made and are subject to known and unknown risks, uncertainties and implications of our actual results, performance or performance. Accompanied by other factors that may cause results to vary widely. from future results, performance or achievements expressed or implied by such forward-looking statements; Forward-looking statements are necessarily based on a number of estimates and assumptions, which we believe to be reasonable at the time of making such statements, but which are inherently Subject to uncertainty and unforeseen circumstances. These estimates and assumptions may prove incorrect.

Many of these uncertainties and unforeseen circumstances may directly or indirectly affect our actual results and could differ materially from those expressed or implied by the forward-looking statements. There is a nature. There can be no assurance that any forward-looking information will prove to be accurate, as actual results or future events could differ materially from those anticipated in such statements.

Forward-looking information is provided for the purpose of providing information regarding management’s expectations and plans for the future. We disclaim any intention or obligation to update or revise any forward-looking information, except to the extent required by applicable law, or to describe any material differences between subsequent actual events and such forward-looking information. Disclaim intent or obligation.

For investor inquiries, please contact:
Ian Clifford
Chief Executive Officer and Chairman
[email protected]

Information for investors (US)
RBMG – RB Milestone Group LLC
Trevor Burkato, Managing Director
[email protected]

Media Inquiries:
Oliver Newman
Sussex Strategy Group
[email protected]

CBJ Newsmaker

Team Building, Manufacturing Space, R&D Labs, New Headquarters and Granting Options, The Canadian Business Journal

Source link Team Building, Manufacturing Space, R&D Labs, New Headquarters and Granting Options, The Canadian Business Journal

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