FuelPositive Corporation (OTCQB: NHHHF) (TSXV: NHHH) is a Canadian technology company focused on providing sustainable, clean technology solutions, including on-farm/onsite, containerized Green Ammonia production systems that eliminate carbon emissions. These systems are designed to produce pure, anhydrous ammonia for various applications, such as fertilizer, fuel for grain drying and internal combustion engines, fuel cells, and grid storage solutions. By offering end-users clean fertilizer, energy, and Green Ammonia supply security, FuelPositive aims to mitigate climate change and address unsustainable agricultural practices through innovative technology and practical solutions.
U.S.-listed shares of the farm technology company are rallying 37% through early trading on Tuesday, May 2, 2023. Over the past thirty days, FuelPositive has seen average daily volume of 342,581 shares. However, volume of 1.75 million shares or dollar volume of around $129,500, has already exchanged hands through early trading.
The rally comes after the company has announced the final commissioning of its first farm-ready FP300 system and the successful fulfillment of initial pre-sales commitments. The company has also introduced its latest model, the FP1500, a turnkey system capable of producing 1500 kg of Green Ammonia per day. The system is designed to meet customer demand for larger scale, on-site Green Ammonia production.
Despite challenges in manufacturing supply chains, FuelPositive has managed to procure key components and modules for its first system commissioning at its Waterloo facility. The company has successfully met its planned pre-sales capacity of 30 units and plans to deliver the first batch of commercial systems beginning in 2024. As the FP300 design is refined, FuelPositive is working with suppliers to scale up production for the first batch, leading to revenue and profit generation within the first year of commercial 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, COO and Director of the Company.
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