FirstElement Fuel, World-Leader in Hydrogen Refueling Solutions, Selected as a Top 40 US GreenTech Company by Time Magazine

Time, in partnership with Statista, listed FirstElement Fuel 36th out of 250 companies named for reducing environmental impact in its inaugural list of America's Top GreenTech Companies

IRVINE, Calif., April 22, 2024 /PRNewswire/ -- FirstElement Fuel Inc. ("FEF" or the "Company") was selected by Time Magazine as America's 36th Top GreenTech Companies of 2024.

FirstElement Fuel's recognition as a Top 40 GreenTech company is celebrated by Nasdaq with signage on their New York City tower.

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FEF was ranked 36th out of 250 selected companies based on criteria such as positive environmental impact, revenue, and innovative drive.  The recognition was welcomed by the FEF Team, who has overcome significant barriers and continues to break records as the world leader in hydrogen refueling solutions.  FEF's goal remains the same as its founding in California in 2013:  To foster the widespread adoption of fuel cell vehicles, improve the economics of driving, reduce harmful emissions and change the automotive industry and the world.

"FirstElement Fuel is humbled to be recognized and thankful for the continued support of our partners and investors, including the State of California whose dedication to hydrogen mobility helped us drive unprecedented innovation in this space," said Joel Ewanick, FEF Founder and Executive Chairman.  "We are also incredibly grateful to our dedicated FEF employees who focus every day on making a difference for the planet and keeping the Company on track to achieve its Mission of fostering the widespread adoption of hydrogen vehicles."

FEF has achieved its leading position in the hydrogen refueling space in part because its headquarters and base of operations are in California.  The Company's True Zero branded 89 hydrogen dispensers are strategically located throughout California, from San Diego, throughout the Los Angeles basin and the San Francisco Bay Area, with locations in between to provide connectivity.  FEF is also a Tier 1 Partner in California's Hydrogen Hub initiative ARCHES, which the US Department of Energy selected for a $1.2 Billion award.  One of the ways FEF is helping realize its mission, as well as California's climate goals, is by exclusively dispensing hydrogen that is certified¹ net-zero carbon across its entire lifecycle at every one of its hydrogen refueling stations (HRS).

"We are proud that FirstElement Fuel, a home-grown California company, is being recognized as a GreenTech leader in the U.S.," said Tyson Eckerle, Senior Advisor for Clean Infrastructure and Mobility at the Governor's Office of Business and Economic Development. "Hydrogen will play a significant role in meeting the state's world-leading climate goals, and companies like FirstElement Fuel are yet another proof point that California continues to create innovative and ground-breaking companies in the industries of the future."

FEF's many accomplishments and contributions to the hydrogen refueling space include the design and deployment of the world's first high-capacity HRS capable of refueling 4 vehicles simultaneously; best-in-class performance and availability of HRS; and next month the company will open the world's largest heavy-duty truck HRS with the capability of refueling heavy-duty, medium-duty, and light-duty vehicle classes.  The HRS is part of a public and private partnership titled NorCAL ZERO, which was jointly funded by the California Energy Commission (CEC) and the California Air Resources Board (CARB) and is being managed by the Center for Transportation and the Environment (CTE).  FEF designed the station with a unique architecture, making it the first station in the world capable of conducting 700 bar, simultaneous, fast fills (i.e., delivering 80 kilograms of hydrogen in under 10 minutes) on up to 200 trucks per day.

Category	Quantity
Hydrogen Dispensed	6.8 Million kilograms
Vehicle Fills	2.49 Million
ZEV* Miles Driven from FirstElement's Stations	442 Million
Single Day Record at one station	857 kilograms 317 fills
Single Day Record across FirstElement's Network	6,112 kilograms 2,226 fills
Monthly Record across FirstElement's Network	162,850 kilograms 62,245 fills

The Company's technology leadership on HRS and downstream hydrogen systems has also generated extensive proprietary know-how, including 10 patents awarded or pending for technologies that, to name a few examples, have enabled multiple vehicles to refuel simultaneously from one set of equipment, automated the offload of hydrogen during deliveries for improved safety and efficiency, and reduced refueling times of hydrogen-powered heavy-duty trucks.

About FirstElement Fuel Inc.

FirstElement Fuel Inc is a California-based company established in 2013 to provide safe, reliable, retail hydrogen to customers of fuel cell electric vehicles. The Company is the leading hydrogen refueling station provider in California, and the world, with facilities in Irvine, Santa Ana and Livermore, CA. FEF has 89 retail hydrogen dispensers at 40 locations throughout California and is developing a network of stations to serve Heavy Duty Trucks powered by hydrogen, starting with the first-ever high-flow refueling station in Oakland, CA as part of the NorCal Zero project with the California Air Resources Board and the California Energy Commission.  Over the past 10 years since the FEF's founding the Company has received government grant funding from the California Energy Commission, the South Coast Air Quality Management District, the Bay Area Air Quality Management District, and the Sacramento Municipal Air Quality Management District.  Private funding has been provided by Mitsui & Co, Air Water Inc., Honda Motor Company, Toyota Motor Corporation, Air Liquide, MUFG, the Japan Bank of International Cooperation, and Nikisso Company.

Learn about FirstElement Fuel Inc. at FirstElementFuel.com

Learn about our True Zero Network at truezero.com

¹ All of the hydrogen dispensed by FirstElement Fuel is certified with zero carbon intensity by the California Air Resources Board on well-to-wheels basis.