CHARBONE Hydrogen Adds Operations and Market Development Bench Strength as Company Identifies New Targets for 2025 North American Green Hydrogen Expansion Plans

(TheNewswire)

Brossard, Quebec TheNewswire - July 11, 2024 Charbone Hydrogen Corporation (TSXV: CH; OTCQB: CHHYF; FSE: K47) (the "Company" or "CHARBONE"), North America's only publicly traded pure-play green hydrogen company, is pleased to provide an update on its 2025 North American market expansion efforts as the Company onboards a new Operations team member.

CHARBONE is pleased to welcome Mr. David Cheung Atkinson, P.Eng, MBA as a consultant to its operations team.  A long-time energy colleague of the CHARBONE management team, David's 25 years of experience in renewable energy spans micro-grid, wind, solar and energy storage projects, with a mix of project engineering, project development, permitting, financing and operations.  David will work with Charbone's COO to support the green hydrogen project deployments across the United States and Canada, while helping to execute renewable energy power purchase agreements (PPA's), interconnection agreements (IA's), and will manage the daily operations of CHARBONE's remaining production assets on the renewable energy side of the business.

"David is a strong leader who brings tremendous complementary renewable energy experience to the Company team during this pivotal growth stage," said Daniel Charette, Chief Operating Officer, Charbone Hydrogen. "In addition to US incentives, the Canadian Investment Tax Credits (ITCs) for clean hydrogen should provide CHARBONE with significant tax rebates on project costs of up to 40%. PPA's will allow us to purchase clean and renewable electricity from the grid and access regulatory incentives, has we aim to tap into David's experience here and in many other areas."

With green hydrogen production poised to kick off later this year at its Sorel-Tracy, Quebec facility along with plans to introduce a second Detroit, Michigan area facility before year-end, CHARBONE is making moves to expand its workforce and enter new markets. The Company 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). In total, CHARBONE plans to deliver 16 green hydrogen production facilities across North America by 2030.

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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