What First Hydrogen does

First Hydrogen Corp. is a publicly traded clean energy and technology company (TSXV:FHYD; OTC:FHYDF; FSE:FIT) headquartered in Vancouver, Canada, with regional offices in Montreal, London, and Germany. The company's core offering is a vertically integrated Hydrogen-as-a-Service (HaaS) ecosystem centered on hydrogen fuel cell electric light commercial vehicles (FCEVs). Its vehicle portfolio spans demonstrator vehicles (in active UK real-world trials), Gen I vans with up to 1,000 kg payload and 500+ km range, and a planned Gen II mass-market series. Powertrains integrate Ballard's FCgen-LCS 63kW fuel cell with AVL-developed systems, supported by an AI-driven Energy Management and Control Unit (EMCU), and are paired with company-developed green hydrogen production and refueling infrastructure targeting under-10-minute refueling.

The go-to-market is enterprise-direct to commercial fleet operators in logistics, delivery, municipal services, and construction, validated through trials with Wales & West Utilities, the Aggregated Freight Hydrogen Consortium, a US-based multinational, and Rivus. Revenue models span hardware sales, HaaS subscriptions, drones-as-a-service, and licensing of robotics IP. Beyond FCEVs, the company has expanded into Small Modular Reactor-based green hydrogen (via wholly owned First Nuclear Corp., March 2025) and into robotics and humanoid AI (via a binding LOI to acquire 60% of Exodus Actuation Solutions Inc. in February 2026 and the incorporation of First Humanoid Corp. in June 2026), bringing a patented UGV platform with hybrid leg-wheel architecture and amphibious capabilities into the product mix.

Capitalization remains modest and pre-commercial. Three non-brokered private placements between December 2025 and April 2026 raised approximately CAD $7.56 million, with an additional US$2 million staged commitment to the RoboticsCo acquisition and convertible debentures extended to November 2028. No commercial revenue is disclosed, vehicle sales are still in trial/demonstrator stage, and the bulk of execution is partner-coordinated through Ballard, AVL, INEOS, ARUP, FEV, and the University of Alberta. The financial figures in the input data appear corrupted (figures in trillions of dollars); the operative picture is a small, pre-revenue, publicly listed platform company scaling across multiple clean-energy and robotics verticals simultaneously.

Name

First Hydrogen

Legal name

First Hydrogen Corp.

Website

https://firsthydrogen.com

Company type

Public

Operating status

Operating

Headcount range

1–10 employees

Short description

First Hydrogen Corp. is a publicly traded clean energy company developing hydrogen fuel cell light commercial vehicles, green hydrogen production and refueling infrastructure, robotics (UGV platforms), and SMR-based hydrogen, serving commercial fleet operators across the UK, Canada, the US, and the EU.

Ownership category

akta.pro rank

Product category

Commercial Hydrogen Fuel Cell Vehicles

NAICS

Automobile and Light Duty Motor Vehicle Manufacturing (33611), Motor Vehicle Manufacturing (3361), Industrial Gas Manufacturing (32512), Motor Vehicle Electrical and Electronic Equipment Manufacturing (336320)

SIC

Engines & Turbines (3510), Motors & Generators (3621), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Hydrogen Fuel Cell Electric Vehicle (FCEV) Manufacturing (IMACACAJ)

akta.pro secondary industries

Truck & Commercial Vehicle Electrification Manufacturing (eAxles/Battery Packs/Fuel Cells) (IMACABAK), Hydrogen Production Supply & Offtake (Green/Blue H2) for Utility Blending (EUAJAJAF), Hydrogen & Derivative Fuels for Industry (H₂, Ammonia, Methanol) (EUABAJAC), Hydrogen (Industrial & Mobility) (IMAEACAB)

Keywords

• Hydrogen fuel cell vehicles
• Green hydrogen production
• Fleet electrification solutions
• Hydrogen refueling infrastructure
• Commercial vehicle manufacturing

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Supply Chain, Personnel, Marketing or Sales, Infrastructure, Operations

Revenue model

1. Hydrogen Fuel Cell Vehicle Sales: Sale of hydrogen fuel cell electric light commercial vehicles (FCEV vans) to fleet operators, targeting logistics, delivery, municipal services, and construction sectors. Vehicles offered in panel van and chassis cab configurations with modular design.
2. Hydrogen-as-a-Service (HaaS): Comprehensive solution combining green hydrogen production, refueling infrastructure, and vehicle provision as an integrated service. Aims to remove adoption barriers for commercial fleets transitioning to zero-emission vehicles.
3. Drones-as-a-Service (DaaS): On-demand or subscription-based model for aerial and ground drone technology including hardware, software, and operational support for logistics, security, defense, and industrial automation applications.
4. Robotics and Motion-Control Technology: Licensing and commercialization of actuation, gearbox, and motor technologies through acquisition of 60% interest in Exodus Actuation Solutions, with potential royalties on products incorporating UGV patents.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

First Hydrogen designs, manufactures, and commercializes hydrogen fuel cell electric light commercial vehicles (FCEVs) for commercial fleet operators in logistics, delivery, municipal services, and construction sectors. The company operates a vertically integrated Hydrogen-as-a-Service model that bundles green hydrogen production, refueling infrastructure, and vehicle provision to remove adoption barriers for fleet operators transitioning to zero-emission vehicles. It has also expanded into robotics through patented unmanned ground vehicle (UGV) platforms and is developing Small Modular Reactor (SMR) technology for green hydrogen production.

Product overview

First Hydrogen operates as a vertically integrated clean energy ecosystem offering Hydrogen-as-a-Service. The core portfolio includes three generations of hydrogen fuel cell light commercial vehicles (Demonstrator, Gen I, and Gen II Large Series vans), supported by green hydrogen production and refueling infrastructure. The hydrogen powertrain platform provides modular solutions (30-300 kW) for marine, agriculture, industrial, trucking, and recreational applications. The company has expanded into robotics through the Mobile Robotic UGV Platform with hybrid leg-wheel architecture and AI capabilities. Supporting entities include First Nuclear Corp. (SMR integration for hydrogen production), First Humanoid Corp. (humanoid robotics and AI), and First Hydrogen GmbH (European operations).

Differentiator

Problem solved

Functional benefit

Brands

• First Humanoid Corp. Wholly owned subsidiary focused on robotics, humanoid robotics, autonomous systems and AI-enabled technologies
• First Nuclear Corp.
• First Hydrogen GmbH

Products and services

• Demonstrator Vehicles Hydrogen fuel cell electric vehicles (FCEVs) developed in collaboration with AVL and Ballard Power Systems, equipped with Ballard's FCgen-LCS 63kW fuel cell. Designed for commercial fleet operators in logistics, delivery, and municipal services with range exceeding 500 km and refueling under 10 minutes.
• First Generation (Gen I) Hydrogen Vans Market-ready hydrogen fuel cell electric light commercial vehicles with payload capacity up to 1,000 kg, available in panel van and chassis cab configurations for fleet operators in logistics, delivery, municipal services, and construction sectors.
• Next Generation (Gen II) Large Series Hydrogen Vehicles Mass-market hydrogen fuel cell vehicles featuring aerodynamic design, smart digital panels, extended cargo access, greater payload capacity, improved hydrogen storage, and faster refueling speeds for commercial fleet operators.
• Green Hydrogen Production Production of green hydrogen through electrolysis powered by renewable energy sources including wind, solar, and hydroelectric power, enabling zero-carbon footprint hydrogen supply for fleet operators and industrial users.
• Hydrogen Refueling Solutions Hydrogen refueling stations delivering refueling in under 10 minutes, strategically located along high-demand commercial corridors and urban centers, scalable from light-duty to heavy-duty vehicles to support the Hydrogen-as-a-Service model.
• Hydrogen Powertrain Platform Modular and scalable hydrogen power platform for diverse applications including marine, agriculture, industrial machinery, commercial trucks, camper vans, and energy systems with configurable power outputs from 30 kW to over 300 kW.
• Mobile Robotic UGV Platform (Amphibious Ground Drone) Patented mobile robotic unmanned ground vehicle (UGV) platform with hybrid leg-wheel architecture powered by solar, battery, and hydrogen fuel cell for autonomous operations in security, defense, and logistics. Features amphibious capabilities, hot-swappable mission modules, and AI-driven sensor fusion.
• Exodus Actuation Gearbox and High-Performance Motors Licensed actuation gearbox and high-performance motor technologies acquired via 60% interest in Exodus Actuation Solutions Inc., backed by 26 issued and 10 pending patents, with applications in robotics, automotive, packaging, and electric mobility systems.

Quantifiable outcome

• 630+ km range on single hydrogen refueling vs 150-300 km typical EV range
• +3 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered core, strategic, major and supporting.

• Exodus Actuation Solutions Inc. (RoboticsCo)coreStrategic or Co-development Partner · 23 February 2026Binding Letter of Intent to acquire 60% interest in robotics technology company holding 26 issued and 10 pending patents covering actuation gearbox and high-performance motor technologies. Transaction valued at 2 million common shares plus US$2 million in staged funding. Positions First Hydrogen at intersection of robotics, clean energy, hydrogen, autonomous systems and advanced mobility.
• University of Alberta - Renewable Thermal LaboratorystrategicStrategic or Co-development Partner · 9 June 2025Strategic research collaboration with Professor Muhammad Taha Manzoor from the University of Alberta focused on Small Modular Reactor (SMR) technology advancement, specifically reactor fuel materials and design optimization. Research considers AI data center growth and power demand. First phase focuses on identifying non-radioactive surrogate molten-salt fuel mixtures.
• Ballard Power SystemscoreTechnology or IntegrationBallard Power is a leading global provider of innovative clean energy and fuel cell solutions. Founded in 1979, Ballard developed its first fuel stack in 1986. For First Hydrogen, Ballard provides the FCgen-LCS 63kW fuel cell system powering the company's hydrogen fuel cell vehicles. Ballard's fuel cell technology has achieved 73% market share in North America and Europe for transit buses.
• AVLcoreTechnology or IntegrationAVL is the world's largest independent company for development, simulation, and testing in the automotive industry. They provide concepts, solutions and methodologies in e-mobility, ADAS and autonomous driving, vehicle integration, digitalization, and testing. AVL supports First Hydrogen's powertrain development and vehicle integration with the largest collective market share for fuel cell design.
• INEOSmajorStrategic or Co-development PartnerINEOS is a multinational chemicals company with a hydrogen strategy at the core of its vision. Being both a user and producer of hydrogen, INEOS has ambition to become Europe's leading producer of green hydrogen. Partnership enables access to hydrogen production expertise and potential supply agreements.
• ARUPsupportingImplementation/ SI/ Consulting PartnerARUP is a global sustainable development consulting firm with over 17,000 employees across 33 countries. They bring deep knowledge and experience regarding hydrogen studies and projects and act as engineering consultant for First Hydrogen's projects in the UK and North America.
• FEVsupportingImplementation/ SI/ Consulting PartnerFEV has over 35 years of experience in pre-production and product development, product planning and cost engineering with access to over 3,000 global experts. FEV supports First Hydrogen's development of mobile refueling stations and creation of bespoke AI software to map and optimize hydrogen refueling networks across UK, Europe, and North America.

Scale indicators9 records

Recent moves9 records

Expansion highlights8 records

Broad incumbents

• Hyundai Motor Group: Through its Hyundai Hydrogen Mobility and XCIENT Fuel Cell programs, Hyundai is the global leader in mass-produced hydrogen commercial vehicles. Comparable as a FCEV-focused OEM targeting commercial fleet operators with proven technology at scale.
• Toyota Motor Corporation: Pioneer of hydrogen mobility with the Mirai passenger FCEV and active hydrogen truck/commercial vehicle programs. Relevant as a large incumbent developing fuel cell vehicles for commercial and passenger applications.
• Daimler Truck: Developing the Mercedes-Benz GenH2 hydrogen fuel cell truck for long-haul commercial applications. Directly comparable as a commercial vehicle OEM pursuing hydrogen powertrains for fleet decarbonization.
• Stellantis: Major commercial vehicle manufacturer (Citroën, Peugeot, Fiat, Opel, Vauxhall vans) exploring hydrogen versions of its LCV platforms. Competes for the same logistics and last-mile fleet customers as First Hydrogen.

Direct peers

• Hyvia: Joint venture between Renault and Plug Power producing hydrogen fuel cell light commercial vans (Master Van H2-TECH). Most direct comparable to First Hydrogen's FCEV LCV offering, addressing the same fleet market with similar vehicle architecture.
• Hyzon Motors: North American hydrogen fuel cell truck and commercial vehicle startup using predominantly Proterra/Ballard fuel cell technology. Direct comparable as a pure-play hydrogen commercial vehicle company targeting fleet operators.
• Plug Power: Hydrogen production, refueling infrastructure, and fuel cell vehicle integrator with broad commercial mobility exposure (warehouses, forklifts, trucks). Comparable through its vertically integrated hydrogen ecosystem and Hyvia joint venture into FCEV vans.

Emerging players

• Rivian: Electric commercial van producer (EDV 700/900) targeting Amazon and fleet customers. Competes with First Hydrogen for the same zero-emission commercial fleet segment, though using battery rather than fuel cell technology.
• Volta Trucks: European electric commercial vehicle startup focused on urban last-mile delivery. Targets a similar fleet operator customer base with zero-emission LCVs, though using battery-electric rather than hydrogen fuel cell technology.

Others

• Ballard Power Systems: Direct technology partner supplying fuel cell stacks to First Hydrogen, but also a broader hydrogen fuel cell player with its own commercial vehicle and transit bus programs. Indirectly comparable as a fuel cell technology incumbent.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/first_hydrogen
• LinkedInlinkedin.com/company/first-hydrogen

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about First Hydrogen