FuelPositive Announces Key Market Research Appointments
Fully understanding the customer’s reality will guide decision-making
as FuelPositive prepares for commercialization
TORONTO, March 29, 2022 – FuelPositive Corporation (TSX.V: NHHH) (OTCQB: NHHHF) (“FuelPositive” or the “Company”) is pleased to announce two key appointments focused on fully understanding its customers as it nears market entry. Pollara Strategic Insights has been appointed FuelPositive’s market research partner. As well, Leith Deacon, an Associate Professor and researcher from the University of Guelph, has been appointed as an Advisor, helping to guide the Company’s market research efforts.
“We have identified the farming community in Canada as our first customer for our on-site green ammonia production system. That means we need to learn everything we can about farmers. We already know they are a diverse group. We need to understand how the farmers who will be attracted to our product think and what they need in order to succeed. We’ve decided to take the same disciplined approach to our market research that our R&D and Operations teams take to their work – one that is based on evidence and the scientific method. Involving Pollara and Dr. Deacon in our market research will ensure we develop the most useful and environmentally positive product and that we support our customers in farming in the most sustainable way possible,” said Ian Clifford, FuelPositive Board Chair and CEO.
FuelPositive’s core technology is a scalable, containerized “plant-in-a-box” that uses a carbon-free process to make pure ammonia which is used on farms as fertilizer. Already proven in the lab, the Company is currently building full-sized demonstration systems to validate its technology. The first system is scheduled to be launched on a farm in Manitoba, Canada, in late summer 2022, followed by two additional demonstration systems later. Eighty percent of the current global supply of ammonia is used as fertilizer by the agriculture sector.
“This market research will guide us as we determine a definitive revenue model for our product. We are considering a number of options. We can sell the units, we can lease, we can own and charge per operational hour, or we can rent to own. What model is the best one for farmers? The research – informed by farmers themselves – will help us gain the insights we need before we begin to take orders. It will also help us make informed decisions as we continually improve the systems we are building,” added Clifford.
“We are excited by FuelPositive’s approach to making farming more sustainable. Our team has extensive experience in the agriculture space, especially in terms of sustainable and regenerative farming. We are conducting qualitative interviews and quantitative surveys across a robust sample of Canadian farmers to extract deep insights and direction for the Company to consider when making its decisions,” said Don Guy, Pollara Strategic Insights.
“I am pleased that my background in rural planning and development will be useful for FuelPositive. I’m a firm believer in data-based decision-making. It’s important to recognize that if you’re designing a product for farmers, you need to make sure the product is reflective of farmers’ realities. The only way to know what they need and want is to ask them. I’m excited to see that FuelPositive is engaging directly with farmers and taking its decision-making so seriously,” said Dr. Deacon.
About Pollara Strategic Insights
Founded in 1980, Pollara Strategic Insights is one of Canada’s premier full-service research firms – a collaborative team of senior research veterans who are passionate about conducting research through hands-on creativity and customized solutions. Taking full advantage of their comprehensive toolbox of industry-leading quantitative and qualitative methodologies and analytical techniques, Pollara provides research-based strategic advice to a wide array of clients across all sectors on a local, national and global scale. For more information, please visit www.pollara.com.
About Leith Deacon
Leith Deacon, BA, MSc and PhD, is an Associate Professor in the Rural Planning and Development Program in the School of Environmental Design and Rural Development at the University of Guelph. He is a full member of the Canadian Institute of Planners and a Registered Professional Planner. Leith’s research focuses on rural and small communities and concepts around sustainability, governance and resiliency. Leith uses mixed methodologies to gather local data that can inform local policy and program decisions. A recent research project resulted in a database of 30,000 individuals living in rural Ontario.
FuelPositive is a Canadian technology company committed to providing commercially viable and sustainable “cradle to cradle” clean technology solutions, including green ammonia (NH3), for use across a broad spectrum of industries and applications. By focusing on technologies that are clean, sustainable and economically advantageous/realizable, the Company aims to change the course of climate change through practical solutions that can be implemented now.
The FuelPositive green ammonia system takes air, water and sustainable electricity and synthesizes it into pure, anhydrous ammonia for multiple applications, including fertilizer for farming, fuel for grain drying and internal combustion engines and a solution for grid storage. Green ammonia is also being considered as a key enabler of the hydrogen economy.
FuelPositive systems are designed to provide for green ammonia production on-site, where it’s needed. This eliminates wildly fluctuating supply chains and offers end-user energy and supply security.
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) accept responsibility for the adequacy or accuracy of this release.
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 the expected expenditures of the proceeds of the private placement, 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.
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