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.

View original content to download multimedia: https://www.newswire.ca/en/releases/archive/September2024/25/c6441.html