Mr. Ian Clifford reports

FUELPOSITIVE IS MAKING AMMONIA!

Fuelpositive Corp. has received third party certification of initial ammonia output. Fuelpositive, a leading green ammonia company, has successfully completed a pivotal milestone with its commercial model FP300 system start-up and activation of catalyst, making the FP300 the first decentralized, containerized, operational green ammonia system in the world.

Over the last two weeks of operation and evaluation, the system operated flawlessly at maximum activation temperatures and pressures. The company ensured its internal and industry safety protocols and risk mitigation practices were adhered to at every step.

Five samples of produced ammonia were collected at random times during the evaluation period. The samples were collected at the takeoff point of the systems separator and sent to Ortech Consulting Inc., a third party testing laboratory in Toronto, Canada.

The third party testing laboratory, Ortech Consulting Inc., confirmed Fuelpositive's internal mass spectrometer readings, indicating that each random sample of anhydrous ammonia was exactly on target. The results were consistent throughout the samples. Both the conversion rates and volume output exceeded the company's expectations.

Nelson Leite, chief operating officer and director, stated: "We are excited to report that we have completed a key initial validation of our full-scale ammonia pilot system. For this initial evaluation period, to follow safety protocols, we ran one converter at 50-per-cent catalyst density, with a set target of anhydrous ammonia output. The results, which were internally and third party validated, confirmed that our target conversion rates and volume output of anhydrous ammonia were exceeded by 17 per cent."

Mr. Leite continued: "The next step for Fuelpositive, currently under way, is to run the system at full catalyst density across all five converters to achieve the final stages of system validation. Once this step is completed, it will be third party validated and disclosed. A factory acceptance test (FAT) is the planned final step before farm readiness."

Ian Clifford, chief executive officer and chair, stated: "At this watershed moment, with great gratitude and pride, we celebrate our team for the successful initial output of anhydrous ammonia, making the Fuelpositive FP-300 the first decentralized, containerized, commercial-scale system of its kind. This is the moment in the evolution of the company we have all been working towards and we are overjoyed to share this news with all our supporters today."

Mr. Clifford continued: "Everyone involved has been working tirelessly over the last several years to bring Fuelpositive's new technology from concept to commercialization. We are very proud to have successfully navigated and overcome COVID-related supply chain issues, challenging global capital markets and various delays brought on by regulatory approvals."

Mr. Clifford concluded: "The production of traditional gray ammonia is one of the most polluting manufacturing and distribution processes on the planet; paradoxically, ammonia, as a nitrogen fertilizer, is needed to feed our ever-growing world population. Fuelpositive understands global food security and, as a result, we made conscious choices to lead toward a sustainable future in agriculture and other critical sectors. This is why Fuelpositive's decentralized green ammonia system and business model stands alone, reframing the status quo of a multibillion-dollar commodity industry."

Mr. Leite added: "It's extraordinary to consider where we are today in developing our innovative technology. Two years ago, when I joined the company, we were a small, dedicated group intensely focused on bringing our technology to market. In the ensuing months, we built a world-class technology and manufacturing team. Today, we announce that we have successfully operated Fuelpositive's core technology and first commercial system."

Mr. Leite concluded: "Starting up the full-scale commercial system and producing pure anhydrous ammonia at an efficiency and conversion rate well beyond our expectations has been inspiring. These achievements confirm the capacity of our team and technology to meet the demands of customers around the world."

Luna Clifford, director of strategic partnerships, commented: "Since January, 2021, we've grown alongside our technology and attracted respected team members, advisers and consultants who share our vision and mission. As we grow our relationships and our markets, we will continue to work with like-minded people and organizations in multiple sectors to mindfully address worldwide greenhouse emissions."

Ms. Clifford concluded: "Fuelpositive's success will provide a platform for a wide range of strategic commercial, environmental and social initiatives in line with our mission and values. The technology is innovative, the business model is transformative and our mission and values are deeply impactful."

Demonstration project partner and farmer Curtis Hiebert of eAcres Inc. stated: "This is the good news Canadian farmers have been waiting for. My family and I are relieved that Fuelpositive has reached this important milestone towards the commercialization of its green ammonia technology. Canadian farmers have faced extreme fertilizer supply chain challenges caused both by price and supply uncertainty. Having the means to produce the fertilizer we need on the farm, when needed and at a price we can rely on, will significantly reduce our family's concerns."

Mr. Hiebert concluded, "In the past 50 years of using anhydrous ammonia as a nitrogen fertilizer, my family and I haven't seen a company near as passionate about what green ammonia can do as Fuelpositive."

Fuelpositive to host live corporate update webinar

Fuelpositive's CEO and chair, Mr. Clifford, and COO and director, Mr. Leite, will be hosting a webinar to discuss current operations and upcoming milestones, followed by Q&A (questions and answers).

Date:  Tuesday, Sept. 26, 2023

Time:  2 p.m. ET

Webinar registration:  available on-line

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