Element 1 Corp Announces Road Testing of World’s First Medium-Duty Fuel Cell Truck with Proprietary Onboard Hydrogen Generation

Element 1 Corp (“e1” or “the Company”), a leading developer of hydrogen generation technology, in collaboration with Co-Win Hydrogen Power Company Limited (“CO-WIN”), announced today that e1’s proprietary methanol-based M-Series hydrogen generator has been incorporated onto a medium-duty fuel cell truck produced by one of the world’s largest truck manufacturing companies. Extended road testing of the vehicle is underway in Asia and represents a significant milestone towards the commercialization of e1’s onboard hydrogen generation technology. The Company stated that it is becoming increasingly engaged with partners around the world on a wide range of hydrogen energy projects.

Globally, particulate matter emissions from combustion engines burning fossil fuels causes millions of premature deaths annually. These dangerous emissions are not produced by fuel cell powered vehicles as the only emission is water vapor. The M-Series produces no particulate matter in the generation of hydrogen, and when using methanol produced from waste gas streams such as landfill gas or biogas, e1’s hydrogen generation solution is carbon neutral.

“CO-WIN is both a valued strategic partner and licensee of e1, and we are excited to be working with them on this fuel cell truck project,” said Dave Edlund, e1’s Chief Executive Officer. “The hydrogen generation technology being deployed is unique to e1 and is a game changer for clean transportation. To my knowledge, no other company in the world can provide a commercial onboard hydrogen generation product comparable to our M-Series product line. Our broad collaboration with CO-WIN is expected to result in the mass commercialization of fuel cell systems supporting not only transportation, but also telecom and distributed power applications throughout the Asian market.”

William Tang and Ken Tang, shareholders of CO-WIN and e1 stated, “We believe our onboard fuel cell system incorporating the e1 technology will provide clean and reliable power solutions for the Asian market which are also environmentally friendly and cost effective. We look forward to working with both e1 and our Asian partners on this vehicle demonstration project and the ensuing large-scale commercial rollout of this unique and enabling technology.”

Fuel cell vehicles typically require a pure grade of hydrogen in order to produce the electricity needed for propulsion. Historically, this hydrogen has been compressed and stored on the vehicle, which necessitates a costly network of hydrogen refueling stations to be developed. In many regions of the world, building out this infrastructure is simply not feasible. On-demand hydrogen generation from liquid methanol onboard the vehicle mitigates the need for hydrogen fueling infrastructure. In regions where stationary hydrogen refueling stations are being installed, e1’s L-Series product line provides a very cost effective, modular solution for generating fuel cell grade hydrogen on-site.

The methanol used by e1’s hydrogen generators requires a fraction of the space onboard the vehicle compared to compressed hydrogen, enabling significantly greater driving range between fueling. This range extension is critical for heavy- and medium-duty fuel cell trucks traveling long distances each day. In addition to fuel cell truck applications, e1 is experiencing considerable world-wide interest from firms developing fuel cell powered marine vessels. The Company expects to be making significant announcements in the coming weeks relative to on-board hydrogen generation for marine applications in both the commercial and military space.

Element 1 Corp (Bend, Oregon):

Element 1 designs and develops novel processes to enable the commercialization of clean-energy products and processes, and alternative-energy technology. Through licensing our IP to strategic partners, our mission is to significantly reduce barriers to the adoption of hydrogen technology and fuel cells for a range of applications, and to reduce the waste and pollution associated with flaring natural gas. For more information about Element 1, please visit www.e1na.com.

CO-WIN (Guangzhou, China):

CO-WIN implements and manufactures hydrogen powered systems. The product range covers vehicles, telecommunication, backup and continuous power supplies, and more. Please visit our website www.co-win-hp.com for more information.

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