Mr. Ian Clifford reports

FUELPOSITIVE PROVIDES OPERATIONAL AND STRATEGIC UPDATE AND SUCCESSFULLY FILLS INITIAL PRE-SALES COMMITMENTS

Fuelpositive Corp. has been running the final commissioning, along with process optimization, of its first farm-ready FP300 system. In addition to this, Fuelpositive's engineering team has kicked off the production of its first commercial systems which take advantage of these optimization advancements.

Highlights:

• Final commissioning of first farm-ready system under way;
• Launch of newest model: the FP1500;
• Successfully met presales capacity on the first batch of commercial systems and commences system production.

"Over the past two months, we have finally received several key components and modules for completing our first system commissioning at our facility in Waterloo, Canada. It's been a challenging year for manufacturing supply chains, but by strategically choosing multiple suppliers for key components and modules, we have overcome these uncertainties. And now we are steadily approaching the finish line," stated Nelson Leite, chief operating officer and director of the company.

Launch of FP1500

Fuelpositive is officially launching its latest model: the FP1500. This new upsized design is a turnkey system that consists of a stack of FP300s in one solution, providing 1,500 kilograms (kg) per day of green ammonia.

The decision to offer this system was driven by customer demand from the company's presales campaign, with multiple end-users indicating an immediate need for Fuelpositive systems of this scale and configuration.

"Multiple end-users in various sectors, including farms of 10,000-plus acres, have indicated the immediate need of Fuelpositive systems of this scale and configuration. The FP1500 will answer this larger-scale, on-site need," stated Ian Clifford, chief executive officer and board chair of Fuelpositive.

FP300 design refinements

The company has successfully met its planned presales capacity of 30 units and plans to deliver the first batch of commercial systems beginning in 2024. Mr. Leite, COO and director of Fuelpositive, highlighted the company's dedication to refining the FP300 design further as he and his team learn from the operational tests of the on-farm pilot system over the coming months.

"Fuelpositive has already begun working with suppliers to ensure they are ready to scale up for the first production batch. This is expected to be the beginning of many announcements leading to revenue and profit generation within the first year of commercial production," concluded Mr. Leite.

For more information about Fuelpositive's new presales initiative or to place a presales order, please contact: sales@Fuelpositive.com

About Fuelpositive Corp.

Fuelpositive is a Canadian technology company committed to providing commercially viable and sustainable, cradle-to-cradle clean technology solutions, including an on-farm/on-site, containerized green ammonia (NH3) production system that eliminates carbon emissions from the production of green ammonia.

By focusing on technologies that are clean, sustainable, economically advantageous and realizable, the company aims to help mitigate climate change, addressing unsustainable agricultural practices through innovative technology and practical solutions that can be implemented now.

The Fuelpositive on-farm/on-site, containerized green ammonia production system is designed to produce 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 considered a key enabler of the hydrogen economy.

Fuelpositive systems are designed to provide for green ammonia production on-farm/on-site, where and when needed. This eliminates wildly fluctuating supply chains, and offers end-users clean fertilizer, energy and green ammonia supply security while eliminating carbon emissions from the production process. The first customers will be farmers. Farmers use 80 per cent of the traditional grey ammonia produced today as fertilizer.

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