Mr. Ian Clifford reports

FUELPOSITIVE UPDATE: THE FIRST ON-FARM GREEN AMMONIA SYSTEM

Fuelpositive Corp. has set official delivery date for its first on-farm, containerized, green ammonia demonstration system, the FP300. On March 31, 2024, the company anticipates the world's first, on-demand, modular, green ammonia fertilizer and fuel plant to be delivered and operational on the Hiebert's farm in Manitoba, Canada.

The FP300 is destined to become the first farmer-owned green ammonia plant in the world. The first system will support optimizing of future versions of this transformative technology. This new approach to farming has the potential of offering reliable supply and cost in addition to eliminating up to four tonnes of atmospheric polluting CO2e (carbon dioxide equivalent) emissions for every tonne of green ammonia produced. Ammonia supply and cost are the second-most challenging risk factors for many farmers after the weather.

Fuelpositive recently signed a lease in Waterloo, Ont., for a 12,000-square-foot manufacturing site to accommodate the production of the following 30 systems. The delivery of these systems is expected throughout 2024 and 2025.

Nelson Leite, chief operating officer and board member, commented: "We have entered the final stage of the preshipment preparation. Our team have witnessed the system running at full rate and can't wait to see it installed and producing green ammonia on-farm. We are extremely proud of our incredible team efforts and accomplishments."

Mr. Leite continued, "The breakthrough FP300 is a pinnacle of engineering and technological innovation, and our stakeholders and customers who have already seen our system are excited for the positive change that it represents for people and industries across many different sectors."

Ian Clifford, chief executive officer and board chair, concluded, "This is a dream come true for all of us, a potential game changer for global food security, and we're just getting started!"

About Fuelpositive Corp.

Fuelpositive is a Canadian technology company dedicated to delivering commercially feasible and sustainable clean technology solutions that follow a circular approach, ensuring the entire life cycle of the company's products is environmentally friendly. This includes an on-farm/on-site, containerized green ammonia (NH3) production system that effectively eliminates carbon emissions during the production process.

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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