Brossard, Quebec, JULY 24, 2024 TheNewswire Charbone Hydrogen Corporation (TSXV: CH;
OTCQB: CHHYF; FSE: K47) (the "Company" or "CHARBONE"), North America's only publicly traded pure-play green hydrogen company, today announced the arrival of its first tube trailer to be used in the transport and bulk delivery of compressed green hydrogen produced from the Company's City of Sorel-Tracy, Quebec flagship project to local and domestic customers.
Manufactured in the US and engineered to meet the most stringent American Department of Transportation (DOT) and Transport Canada (TC) regulations for the transportation of industrial gases, this first tube trailer is ready to be loaded with 316 kilograms of CHARBONE pure and green hydrogen. CHARBONE's higher facility compression standards will increase and optimize the volume capacity of each of its bulk loads, while reducing transportation and delivery costs per onboard kilogram.
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"With much of our hydrogen production components now ordered or secured with down payments already made, the delivery of our first green hydrogen tube trailer for our flagship Canadian project is another new and significant milestone reached," said Dave Gagnon, CEO of CHARBONE. "Our vision is to build a North American fleet of transport and delivery trailers as we continue to advance our green hydrogen production infrastructure. Each and every day, we are gaining momentum and valuable on-site experience that helps guide our North American portfolio planning and project deployments."
The Sorel-Tracy Green Hydrogen Project will serve as the Company's flagship facility, giving CHARBONE a first-mover advantage with production starting in 2 nd semester 2024. Following a phased approach, Phase 1 of the project will produce up to 400 kg per day of green hydrogen. Once reaching the full capacity, the facility will produce up to 10 tons per day.
With plans to introduce a second Detroit, Michigan area facility before year-end, CHARBONE intends to target additional low-supply / high-potential markets including New York, Ontario, Pennsylvania, Illinois, Wisconsin and California. CHARBONE has also been invited to respond and propose projects in two different large-scale RFIs (Requests for Information). All CHARBONE projects are targeting industrial actual users and replacing gray hydrogen produced from fossil fuels with a clean, and reliable alternative, providing a decarbonize product.
Shares for debts
With capital management efforts, as previously announced by press release on November 17, 2023, the Company confirms remuneration debts incurred since September 30, 2022 settlements of an aggregate of $195,000 with certain members of management, including its Chief Executive Officer, following reception of acceptance by the Exchange with the approval received from the disinterested shareholders on December 19, 2023. The 1,950,000 Common Shares issued pursuant to the debt settlement are subject to a statutory four month hold period.
About Charbone Hydrogen Corporation
CHARBONE is an integrated green hydrogen group focused on delivering a network of modular green hydrogen production facilities across North America. Using renewable energy sources to produce green (H2) dihydrogen molecules and eco-friendly energy solutions for industrial, institutional, commercial and future mobility users, CHARBONE plans to scale and deliver green hydrogen production facilities in both the US and Canada by 2024, with an additional 14 facilities planned by 2030. CHARBONE is the only publicly traded pure-play green hydrogen company with common shares trading on the TSX Venture Exchange (TSXV: CH); the OTC Markets (OTCQB: CHHYF); and the Frankfurt Stock Exchange (FSE: K47). For more information, please visit www.charbone.com
Forward-Looking Statements
This news release contains statements that are "forward-looking information" as defined under Canadian securities laws ("forward-looking statements"). These forward-looking statements are often identified by words such as "intends", "anticipates", "expects", "believes", "plans", "likely", or similar words. The forward-looking statements reflect management's expectations, estimates, or projections concerning future results or events, based on the opinions, assumptions and estimates considered reasonable by management at the date the statements are made. Although Charbone believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on forward-looking statements, as unknown or unpredictable factors could cause actual results to be materially different from those reflected in the forward-looking statements. The forward-looking statements may be affected by risks and uncertainties in the business of Charbone. These risks, uncertainties and assumptions include, but are not limited to, those described under "Risk Factors" in the Corporation's Filing Statement dated March 31, 2022, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements.
Except as required under applicable securities legislation, Charbone undertakes no obligation to publicly update or revise forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release .
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