- Manitoba Government Support
- Approvals and Project Timeline Update
- The Path Forward
- Carbon Credit Update
- Featured Industry Presentations
- Preparing for Launch/Big Reveal
WINNIPEG, MB, Sept. 25,
2024 /CNW/ - FuelPositive Corporation
(TSXV: NHHH) (OTCQB: NHHHF) (the "Company") is pleased to
share an update on site approvals and project timeline.
Manitoba Government Support
In the first week of October, Manitoba Minister of Agriculture Ron Kostyshyn, along with Chris Sanderson from DOMA and other key
department officials, are scheduled to visit the FuelPositive site
for a follow-up meeting. This meeting represents an important
opportunity for FuelPositive to engage directly with government
leaders, highlighting the Company's commitment to collaboration and
its ongoing initiatives.
On September 18, FuelPositive had
the opportunity to meet with the Manitoba Minister of Environment and Climate
Change, Tracy Schmidt, with key
staff DM Paul McConnell, ADM Neil
Cunningham and DOMA Julia Antonyshyn to discuss the
potential of Green Ammonia in the province. During this meeting, we
learned that Green Ammonia has been a key topic in recent
cabinet-level budget discussions, reflecting potential upcoming
strong support for the technology and its promising growth
potential.
FuelPositive also submitted a policy briefing to help prioritize
farmers using Green Ammonia. With the support and guidance of
Counsel PA, the Company advocates for incentives to benefit all
Green Ammonia end-users, especially in the agricultural sector.
FuelPositive is optimistic that these meetings will translate
into meaningful support from the new provincial government,
accelerating the Company's ability to scale its operations and
drive impactful growth throughout Manitoba and beyond.
Approvals and Project Timeline Update
Manitoba Inspection and Technical Services (ITS):
FuelPositive has made significant progress toward securing the
final ITS operating permit, with recent developments dramatically
accelerating the approval process. Following a successful meeting
with the Ministry of Labour, the timeline for the permit's approval
has been shortened from twelve weeks to just one
week, underscoring the enthusiastic support for
FuelPositive's efforts in Manitoba.
In late August, FuelPositive held a critical site meeting with
ITS engineers and FuelPositive mechanical contractors Wescan, to
advance the operational approval timeline. Four senior engineers
from ITS were in attendance, and they voiced strong support for the
Company's innovative Green Ammonia technology and its ambitious
goals in the province.
The meeting reaffirmed the high-quality work completed by
FuelPositive and its partners, with only a few remaining items
requiring clarification before ITS can issue the final operating
permit. The Company has addressed the majority of outstanding
questions, and the final clarifications will be submitted by the
end of this week. Final adjustments are being made without the need
for redesigns, ensuring smooth progress. The Company's Head of
Mechanical Engineering and Project Completion Co-Lead, Martin Cina, and Senior Engineer of Record,
Hamza Aldaghstany, are leading the effort to provide all necessary
clarifications and documents swiftly.
By the end of this week, FuelPositive will have submitted all
the required information to ITS. Based on recent discussions, the
Company has been advised that the final review will take
approximately one week. No further issues have been indicated, and
we anticipate that the final permit will be issued very soon.
"FuelPositive's recent meeting with ITS reinforced the quality
of engineering work we've accomplished at FuelPositive. While we
still have a few clarifications to finalize for the Company's
operating permit, I'm optimistic about FuelPositive's progress. The
team is focused on addressing these remaining items efficiently,
and I appreciate the continued support from the Company's partners
as we navigate this critical phase. This is an important step
forward for the FuelPositive team and the project. I'm confident
that the Company is on the right path to success," stated Hamza
Aldaghstany, Senior Engineer of Record at FuelPositive.
Once the permit is secured, FuelPositive will promptly announce
this significant milestone to shareholders, marking not only a
major step forward toward the activation of the system, but also
one of the final steps in the process, bringing the Company closer
to its next phase of growth.
Manitoba Hydro Service Connection to Site and FuelPositive
System Grid Integration:
FuelPositive is nearing a critical milestone in connecting its
system to Manitoba Hydro's green grid. Despite recent above-average
rainfall causing a brief delay for farmers and FuelPositive, the
Company has been informed that the final connection will be
completed in the coming days.
Manitoba Hydro began work on the underground cabling route on
September 9, successfully staking the
path to supply power to the site. Although the connection was
initially scheduled to be completed on September 17, intensive rain caused a temporary
pause. Work is expected to resume this week, and FuelPositive
anticipates completion of the connection by the end of the week.
Shareholders will be promptly updated once the service goes
live.
Linking the FuelPositive system to the grid is the final step
before activation, which will occur once Manitoba Hydro approves
the individual certification of each system container on-site.
FuelPositive is collaborating closely with QPS, a strategic
Canadian engineering firm specializing in third-party
certifications for various entities, including Manitoba Hydro.
While a portion of the certification has been completed, recent
cost-saving measures led to a temporary pause. However,
FuelPositive is consistently evaluating diverse capital options to
support the Company's near-term needs and growth. Once additional
capital is secured, QPS is prepared to resume and finalize the
certification work, which is expected to take approximately three
weeks.
Importantly, FuelPositive remains committed to producing Green
Ammonia only when the system is fully connected to a green grid but
will continue testing and activation readiness using non-grid power
sources in the interim.
"As we approach this critical milestone of connecting the
first-of-its-kind FuelPositive system to Manitoba Hydro's grid, I'm
filled with optimism about the path ahead. Despite recent weather
challenges, the Company's team dedication and collaboration with
Manitoba Hydro and QPS have positioned us for a successful
integration. This connection is not just a technical achievement
but a significant step toward realizing FuelPositive's vision for
sustainable Green Ammonia production. We're eager to demonstrate
the capabilities of FuelPositive's innovative technology and begin
making a meaningful impact in the agricultural sector," stated
Janusz McNeil, Head of Electrical
Engineering and Project Completion Co-Lead at FuelPositive.
After completion of the Inspection and Technical Services (ITS)
and Manitoba Hydro work, these certifications will streamline
future Manitoba approvals,
enabling faster system start-up and grid connections for subsequent
systems and facilitating rapid expansion across the province.
Once all final steps involving ITS, Manitoba Hydro, and QPS are
completed, FuelPositive expects its team to activate the system
within about two weeks.
The connection of the FuelPositive system to the grid will mark
a significant milestone for the Company and its shareholders. It
will allow FuelPositive to demonstrate its groundbreaking Green
Ammonia technology and production capabilities.
Following activation, the Company will be ready to begin selling
systems, a long-awaited goal for the Company and its
shareholders.
The Path Forward
In our last update, FuelPositive shared the challenges that
arose from circumstances affecting the timely approvals of the
Company's system in Manitoba. We
are pleased to confirm that the situation has been fully addressed,
and we have implemented safeguards to ensure no further disruptions
occur.
While the Company had anticipated generating revenue by now, the
delay in system activation has extended the "wait and see" reality
with potential customers. Once on-farm operations are underway,
FuelPositive expects this situation to shift.
FuelPositive is taking all necessary steps to keep progress
moving forward, ensuring the Company remains on track for system
certification and activation. The Company focuses on maintaining
financial health and protecting shareholder value as it moves
through this crucial phase.
The Company is encouraged by ongoing discussions with
stakeholders and the vital feedback it has received, which
reinforces FuelPositive's confidence in the path ahead. In
addition, the Company expects to receive the next installment of
funding in October from the Agricultural Clean Technology Program
(ACTP), which will further support its momentum.
While there are challenges, FuelPositive is managing them
proactively, and the Company is confident in its ability to
continue advancing on-farm activities in Manitoba, pushing toward its broader
objectives.
"As we navigate these challenges, I'm inspired by the resilience
of our team. Our proactive approach ensures we take the necessary
steps to keep the project on track and seize the opportunities
ahead. The system's activation is a key milestone for FuelPositive
and a major step toward realizing our vision for sustainable
agriculture in Manitoba and
beyond," said Ian Clifford,
Co-Founder and CEO of FuelPositive.
Carbon Credit Update
Andre Mech continues to lead
FuelPositive's exploration into carbon credits for Green Ammonia,
prioritizing opportunities for the Company's clients, especially
farmers. He is collaborating with a third-party expert to enhance
FuelPositive's negotiation efforts with the Government of
Manitoba and to facilitate the
monetization of Green Ammonia production for all stakeholders.
Green Ammonia produced on-site using a new and novel process, is
recognized as a new type of fertilizer, which could benefit from a
government compliance market. Initially, FuelPositive will likely
start monetizing emission reductions in the voluntary market to
enable immediate offsets at a discount to the ultimate benefit of
compliance offsets. The logic behind this approach is to provide
financial incentives to farmers right away while we work in
parallel with the government to advance regulatory frameworks.
In Canada, carbon credits are
categorized into two main types: compliance credits and voluntary
credits. Compliance credits are part of regulatory frameworks
established by provincial governments, including the Government of
Manitoba, which set limits on
greenhouse gas emissions. Companies that exceed these limits must
purchase compliance credits to offset their excess emissions,
creating a financial incentive to reduce their carbon footprint.
The voluntary market in Canada
allows companies and individuals to buy carbon credits to offset
their emissions in support of various sustainability
initiatives.
As demand for carbon credits rises in Canada and worldwide, prices are expected to
increase, creating advantageous opportunities for farmers.
FuelPositive plans to follow up with the Manitoba Minister of Finance on these
developments and will keep the Company shareholders updated, with
more information anticipated in October.
"As FuelPositive advances its exploration into carbon credits
for Green Ammonia, I'm excited about the significant opportunities
ahead for farmers and stakeholders. The recognition of Green
Ammonia as a new type of fertilizer opens doors for near-term
financial incentives, allowing us to create real value right now.
FuelPositive's strategic approach to entering the voluntary market
positions us to capitalize on rising demand for carbon credits, and
I am confident that, together, we can drive meaningful progress
toward a more sustainable future in agriculture," stated
Andre Mech, Emission Reduction and
Carbon Credit Advisor at FuelPositive.
Featured Industry Presentations:
FuelPositive is thrilled to announce its upcoming industry and
stakeholder engagements, showcasing the Company's commitment to
advancing Green Ammonia technology and sustainability in
agriculture. The FuelPositive team will participate in key industry
events, engaging with farmers, stakeholders, and industry leaders
to discuss the transformative potential of Green Ammonia as a
sustainable fertilizer and fossil fuel replacement solution. These
presentations will highlight the Company's innovative approach to
carbon credits and the benefits of on-site production, offering
valuable insights into how FuelPositive's technology can empower
farmers to reduce their environmental impact, enhance productivity,
and strengthen their financial resilience.
On October 17, FuelPositive is
honored to be invited as the keynote speaker at the annual general
meeting of the Bioscience Association of Manitoba (BAM) in Winnipeg. The company will share its vision
for the future of sustainable agriculture.
Following this, Ian Clifford,
Co-Founder and CEO of FuelPositive, will have the exciting
opportunity to be featured on a breakout panel at the Manitoba
Environmental Industries Association (MEIA) Cleantech Conference
2024 on November 20 in Winnipeg, discussing "Smart Farms, Clean Tech:
Advancing Sustainable Agriculture."
The Company is also thrilled to participate in two exclusive
Green Ammonia workshops tailored specifically for farmers and the
supporting industry. The Western Canada Workshop will occur on
November 26 in Sperling, Manitoba, while the Eastern Canada
Workshop is scheduled for November 28
in Guelph, Ontario. Both
workshops, by invitation only, are designed to foster collaboration
and knowledge sharing among key stakeholders, with a detailed
agenda coming in the following weeks.
These workshops are part of the initiatives of the Global
Nitrogen Innovation Center for Clean Energy and the Environment
(https://niccee.org/), an international research initiative
involving experts from the USA,
UK, and Canada. Professor
Claudia Wagner-Riddle and Professor
Mario Tenuta will lead these
workshops, which will explore innovative solutions for sustainable
agriculture and the transformative potential of Green Ammonia.
Preparing for the Official Launch: A Commitment to
Sustainability
As FuelPositive prepares for the official big reveal of its
innovative technology, the Company is excited to introduce a mural
project on-site by renowned Manitoba artist Kal
Barteski. This mural, featuring vibrant depictions of polar
bears incongruously sitting in an agricultural context, aims to
raise awareness about their struggle for survival and the urgent
environmental challenges faced by all species, including humans, as
we collectively confront the realities of climate change.
Commissioned in anticipation of the launch, initially scheduled
for early August, the mural is finally in progress and will serve
as a powerful visual representation of FuelPositive's commitment to
sustainability. Once the system is activated and revenue generation
commences, we hope to plan a memorable launch.
"As polar bears face the existential threat of climate change
and habitat loss, their plight reminds us of the broader
environmental crisis. If we don't reverse the effects of greenhouse
gas emissions, including those from agriculture, humans will face
more and more challenging consequences," said Luna Clifford, Co-Founder and CIO at
FuelPositive.
"The mural is also a symbol of the multi-generational aspect of
farming, honouring the deep roots that sustain agricultural
communities while highlighting the urgent need to protect the
people and the land that nourishes us. This artwork serves as a
reminder of the legacy we leave for future generations.
FuelPositive is dedicated to bridging the gap between rural and
urban life, emphasizing the vital role of farmers in ensuring
global food security as we work together to create a sustainable
future for all." concluded Luna
Clifford.
Kal Barteski is a Canadian artist
from Manitoba, an activist, TEDx
speaker, tactical urbanist, published author, and 2020 winner of
the Women Entrepreneur of the Year Award presented by the Manitoba
Women's Enterprise Centre (MWEC). This recognition honours her
contributions as an artist and entrepreneur in promoting
environmental awareness and community engagement.
Kal is passionate about polar bears, positive words, sea ice and
environmental health, and advocates for the wild. She is a promoter
of community and collaboration. She uses brush lettering and ink
drips to celebrate imperfection." She created the POLAR BEAR FUND
(https://www.polarbearfund.ca/) to support innovative polar bear
conservation. She coordinated the international mural festival:
SeaWalls CHURCHILL
(https://www.seawallschurchill.ca/).
Kal Barteski's commissioned work
underscores the urgent need for action. Protecting polar bears is
not just about saving a keystone species, it's also about
addressing climate change to preserve the fragile Arctic ecosystem.
Through this partnership and powerful imagery, FuelPositive is
committed to advancing sustainable agriculture and championing
climate action for future generations.
"I'm thrilled to be part of the FuelPositive project. As a proud
prairie girl, I have a deep appreciation for the land and the
farming practices that sustain us. I also believe in the importance
of preserving our natural environment while developing smart,
innovative solutions that lead to a brighter, more sustainable
future for agriculture and our communities." said Kal Barteski, Mural Artist and Advocate.
About FuelPositive Corporation
FuelPositive is leading the future of agriculture with the
world's first farmer-owned, on-farm Green Ammonia production
systems. The Company's modular and innovative technology offers a
predictable, reliable, and affordable solution for directly
producing green fertilizer and fuel on-farm, reducing reliance on
external supply chains.
Groundbreaking AgTech and Green Energy:
FuelPositive's containerized Green Ammonia production systems
are transforming the ammonia industry by decentralizing production.
This empowers farmers to generate green nitrogen fertilizer and
carbon-free fuel on-site, ensuring stable costs and supply. Each
ton of ammonia produced by FuelPositive systems eliminates up to 2
tons of CO2e emissions, providing an environmentally sustainable
solution that is also easily accessible and remotely monitored,
enabling farmers to focus on their operations without added
complexity.
First System Delivery: A Milestone in Sustainable
Agriculture:
In June 2024, FuelPositive
delivered its first commercial system, the FP300, to Tracy and
Curtis Hiebert's 11,000-acre grain
farm near Sperling, Manitoba. This
milestone marks a significant advancement for both FuelPositive and
sustainable agriculture. The system activation this fall will
further demonstrate the transformative impact of the Company's
technology on farming practices, driving a more sustainable
future.
Manitoba: A Global Center of
Excellence:
FuelPositive is positioning Manitoba as a leader in
decentralized Green Ammonia production. The Company's
vision includes establishing a world-leading manufacturing hub that
will generate highly skilled engineering, science, and trade jobs
and contribute to the local economy over the coming
years.
Farmer-Centric Solutions:
FuelPositive addresses farmers' financial and operational
challenges due to fluctuating fertilizer and fuel costs. Farmers
gain control over their nitrogen fertilizer supply by producing
Green Ammonia on-site, reducing costs and ensuring price stability.
This solution alleviates the financial burden and empowers farmers
to plan more confidently for the future, safeguarding their land
and resources for the next generation. By adopting sustainable
practices today, farmers contribute to a cleaner world and a more
secure future for those who follow in their footsteps.
FuelPositive is committed to creating a Canadian success story
with technology developed and intellectual property owned in
Canada. The Company values ethical
practices, including precision agriculture and cruelty-free
approaches that support genuinely sustainable agriculture.
FuelPositive's diverse and inclusive team is united by a common
goal: to make a positive impact that goes beyond financial success.
By prioritizing environmental stewardship and social
responsibility, FuelPositive aims to drive meaningful change that
benefits our communities and the environment.
See sales details here: https://fuelpositive.com/sales
FuelPositive Corporation is based in Ontario and Manitoba
(Canada) and trades on the TSX Venture Exchange under the
symbol NHHH and on the OTCQB in the USA under the symbol NHHHF.
Cautionary Statement
Trading in the securities of the Company should be considered
highly speculative. No stock exchange, securities commission or
other regulatory authority has approved or disapproved the
information contained herein. 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.
Forward-Looking Statements
This news release contains certain "forward-looking information"
and "forward-looking statements" (collectively, "forward-looking
statements") that are based on expectations, estimates and
projections as of the date of this news release. The information in
this release about future plans and objectives of the Company,
including with respect to further testing and implementation of the
FP300 system, are forward-looking statements.
These forward-looking statements are based on assumptions and
estimates of management of the Company at the time they were made
and involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or
achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking statements. 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
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements.
Forward-looking information is provided to provide 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 information or to explain any material
difference between subsequent actual events and such
forward-looking information, except to the extent required by
applicable law.
SOURCE FuelPositive Corp.