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Charbone Hydrogen
Investor Insight
Charbone Hydrogen offers a compelling investment opportunity in the US$89 billion green hydrogen market, leveraging a decentralized approach for scalable plant deployment and focusing on environmentally friendly production to reduce carbon footprints.
Overview
Charbone Hydrogen (TSXV:CH,OTCQB:CHHYF,FWB:K47) is the only publicly listed green hydrogen firm in Canada looking to expand across North America (US and Canada) with a pipeline of new projects. This is an opportune time for Charbone as the world races to find effective solutions to meet its net-zero ambitions by 2050. Green hydrogen could be a perfect fit as a potentially low-emitting fuel source. There is an increasing realization of the potential of hydrogen in serving as a low-emissions substitute for fossil fuels in residential as well as industrial use cases.
The Government of Canada has laid out its hydrogen policy, aiming to meet nearly 30 percent of its energy requirement in 2050 by hydrogen, as well as become one of the top three clean hydrogen producers globally. The presence of abundant hydroelectric power, favorable government policies, and a progressive tax regime should boost hydrogen production in the country. The 2023 federal budget includes more than $17 billion in tax credits over the next five years to help fund clean energy projects, including hydrogen.
Green hydrogen: key element to decarbonize the world
The US Department of Energy expects to produce 10 million metric tons (MMT) of hydrogen annually by 2030 and eventually reach 50 MMT by 2050. According to US Deputy Secretary of Energy David Turk, 50 MMT of hydrogen could power every bus, train, plane and ship in the US.
Charbone stands to benefit from rapid adoption of hydrogen as an alternative to fossil fuels. Moreover, Charbone’s focus solely on “green hydrogen” should further its position among investors looking for opportunities to invest in sustainable energy solutions. Green hydrogen is produced when the energy used to power electrolysis comes from renewable sources like wind, water, solar or nuclear. Charbone has clearly stated its intentions to leverage hydropower and nuclear energy to produce hydrogen.
Project Pipeline and Key Partnerships
Carbone forged strong partnerships to execute its business model.
Charbone has signed a memorandum of understanding (MoU) with ABB to collaborate on the development of up to 15 modular and scalable green hydrogen production facilities across North America over the next five years. Under the MOU, ABB will support CHARBONE in standardizing basic engineering for systems and components across its project portfolio, to increase energy efficiency and reliability.
Among the sites covered by the collaboration is Charbone's flagship Sorel-Tracy facility near Montreal in Québec, Canada, which is currently under construction. The Sorel-Tracy facility is located on a 40,000-square-meter land parcel along Quebec Highway 30, known as the “Steel Highway” because of the numerous steel mills and process plants operating along the highway.
The construction of Phase 1 of its Sorel-Tracy facility is being done in partnership with EBC, one of the largest construction companies in Quebec. EBC has a proven track record of designing and building facilities in Canada and the US. The partnership agreement gives EBC the right of first refusal to construct additional Sorel-Tracy phases, as well as one or all of Charbone’s facilities within the North American market.
In addition, Charbone has entered into several other strategic partnerships all aimed to expand its footprint in North America. The company entered into a special consultancy agreement with Enki GéoSolutions for potential partnership proposals as a co-operator and distributor of an emerging form of clean and renewable hydrogen, known as white or natural hydrogen.
In June 2024, Carbone executed a supply agreement for a complete containerized electrolyzer system ready for shipment to its flagship green hydrogen site in the City of Sorel-Tracy, Quebec. The electrolyzer has a higher capacity than originally planned and will significantly enhance initial operational capacity estimates. The company also acquired its first tube trailer for the transport and bulk delivery of compressed green hydrogen produced from the City of Sorel-Tracy, Quebec flagship project to local and domestic customers.
Charbone signed commercial supply agreements (CSAs) with a top-tier US industrial gas producer and distributor. The first CSA secures hydrogen supply ahead of Charbone’s own production, while the second expands its product offerings to include helium and other industrial gases. Positioned to capitalize on emerging North American opportunities, particularly in Canada, Charbone leverages its early-mover advantage to build strategic partnerships and strengthen its role in the low-carbon, high-purity hydrogen market.
Superior Plus
This partnership allows Charbone to sell hydrogen produced at the Sorel-Tracy facility to Superior Propane, a subsidiary of Superior Plus. Such supply agreements ensure that Charbone can generate cash flow immediately following the commencement of production.
Carbone Hydrogen entered into an off-take partnership with Superior Plus on the supply and
distribution of green hydrogen.
NEK Community Broadband
Another such supply agreement was signed in November 2023 with NEK Community Broadband, which ensures the supply of green hydrogen in the Northeast Kingdom of the state of Vermont (USA). NEK Broadband is building a high-speed broadband infrastructure and plans to install a hydrogen fuel cell backup system for a reliable power supply.
Oakland County Economic Development Department, Michigan
Further advancing its goal of US expansion, Charbone signed a memorandum of understanding in December 2023 with Michigan’s Oakland County Economic Development Department to set up Charbone’s first green hydrogen facility in the United States. Oakland County is home to major automakers, and a green hydrogen facility in their proximity will support the effort of producing environmentally friendly mobility options.
Being the only publicly listed green hydrogen player in Canada, Charbone offers investors a unique opportunity to participate in the rise of green hydrogen as a potential low-emitting alternative to fossil fuels.
Management Team
Dave Gagnon – Chairman and CEO
Dave Gagnon has been chairman and chief executive officer of Charbone Hydrogen Corporation since April 21, 2022. He has been a climate tech entrepreneur for the last 25 years, and was the first entrepreneur in Canada to start a wind turbine company and offer a new alternative energy solution in North America. Gagnon also worked with an institutional investor that manages several public pension plans, Caisse de depot et placement du Quebec, where he gained deep knowledge of the financial markets.
Benoit Veilleux – Chief Financial Officer
Benoit Veilleux was appointed as the CFO of Charbone on August 15, 2022. Veilleux has over 15 years of experience in corporate accounting and finance. He began his professional career at KPMG in 2003, where he managed and coordinated audit teams for public companies until 2010. Since then, he has worked with a number of companies including Air Liquide Canada and the Hypertec Group.
Daniell Charette – Chief Operating Officer
Daniell Charette has been the chief operating officer of Charbone since February 2019. He brings over 25 years of experience in running and managing renewable energy companies. He has worked in senior leadership roles with several renewable companies including NEG Micon A/S, Vestas and Brookfield Power. He has served on various association boards and councils, including the Canadian Wind Energy Association, Association Québécoise des Producteurs d’Énergie Renouvelable, and Latin Wind Energy Association.
Francois Vitez – Director
Francois Vitez is a hydropower and energy storage expert with more than 24 years of experience in the development, engineering and construction management as well as operations and maintenance of hydropower and energy storage projects in North America and internationally. He is a board member and chair of the Value of Hydropower committee at Waterpower Canada, vice-chair of the Energy Storage Association of Canada, board member of the California Energy Storage Association, and member of the International Hydropower Association.
Patrick Cuddihy - Hydrogen Operations Team
Patrick Cuddihy is a seasoned operations leader with over 20 years of experience at Air Liquide Canada, to its hydrogen operations team. Patrick brings a wealth of expertise in managing industrial gas production and distribution, having held senior roles including network sales director for Quebec Region, general manager for Pacific Region, director of procurement services, and director of logistics and assets for the Eastern Region.
The only publicly listed green hydrogen player in Canada.
Provaris Energy’s Capital-light Shift Unlocks Growth in Hydrogen and CO₂ Transport, Report Says
With key agreements in place, new revenue streams emerging, and an expanded valuation outlook, Provaris is well-positioned for growth in the global clean energy market.
Illustration of the Regional Supply locations from the Nordic Region into North-West European ports with hydrogen import development plans linked to the future development of Germany’s core hydrogen network
Key Highlights from the Report:
Building Blocks for Hydrogen and CO₂ Transport in Place
Provaris has secured foundational agreements to advance its hydrogen and CO2 transport solutions. This includes a 42,000 tpa hydrogen supply chain agreement with Uniper and Norwegian Hydrogen, a 30,000 tpa supply deal from Norway to a German utility, and a joint development agreement with Yinson Production Offshore for a 5 mtpa CO2 transport project targeted for the end of the decade.
Capital-light Model to Reduce Funding Needs
Adopting a capital-light model, Provaris will generate licence and origination fees while avoiding the need to fund vessel construction directly. This approach lowers financial risk while maintaining long-term participation in the sector.
Licence Fees Unlock Near-term Revenue
Provaris will now earn a 5 percent technology licence fee on the capital expenditure of its H2Neo hydrogen carrier and H2Leo hydrogen barge, providing upfront revenue during the 30-month construction period. Once operational, the company targets a 5 percent free-carried equity ownership, allowing further financial participation.
Revised Forecasts and Increased Valuation
The updated financial model anticipates technology licence revenue as early as FY 2027, earlier than previous forecasts. Longspur Clean Energy has raised its base-case valuation slightly from AU$0.07 to AU$0.08, with a single CO2 project pushing this to AU$0.13. A larger-scale Norwegian hydrogen project could drive a high-case valuation of AU$0.15. The lower capital requirements under the new model increase the feasibility of new projects, improving confidence in higher valuation scenarios.
For the full analyst report, click here.
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Provaris Energy
Investor Insight
Provaris presents a unique and attractive investment opportunity given its leading role in developing innovative storage and transport infrastructure essential to lower the cost of hydrogen and CO2 supply chains. With its proprietary technology, strategic partnerships and integrated business model, Provaris is well-positioned to capitalize on the growing demand for clean energy solutions.
Company Highlights
- Proprietary tank IP, fabrication and ship designs provide unique advantages to unlocking economic storage and transport.
- Studies demonstrate compression provides the lowest cost for regional hydrogen supply.
- Advancing term sheets into binding agreements in 2025 for hydrogen supply to German utilities.
- Simple ‘Capital lite’ model to provide early cash flow from license fees, recurring revenue and remove capex
- Expanding tank IP and new license fees with Yinson Production AS to innovate liquid CO2 tank and vessels and a second source for license fee income.
- Growth opportunities from pipeline of supply projects and new markets for gas and liquid storage tank solutions
Overview
Provaris (ASX:PV1), offers innovative storage and transport infrastructure essential to lower the cost of hydrogen and CO2 supply chains. With an office established in Oslo, Norway, to support the focus on Europe, the company has developed a shipping solution for ‘Ready to Use’ hydrogen, which provides flexible and stable supply for buyers at the lowest regional delivery cost. The advantages of compressed hydrogen are now recognized through multiple industrial partners for supply and offtake, including a maiden term sheet for offtake with Germany’s Uniper Global Commodities.
The implementation of a ‘capital lite’ model through technology license fees enables Provaris to support a portfolio of supply projects to deliver early cash flow and long-term recurring revenue without large-scale capex. Illustrative fees for each supply chain project are material to support substantial returns to investors over time.
Provaris stands at the forefront of the green hydrogen economy being developed, dedicated to innovative and efficient supply chains for zero-carbon energy in the European region. With its rapid adoption of green hydrogen, the European market needs 7 Mt of low carbon H2 imports by 2030 with less than <1 percent produced today. As countries across the continent seek to decarbonize their economies, the demand for sustainable supply of hydrogen molecules remains in deficit for decades to come. Provaris’ compressed gas solution delivers the fastest, lowest cost route to closing this gap.
Compression supports the development of simple, scalable and energy-efficient green hydrogen supply chains for the European market. By focusing on a regional supply model, the Provaris solution delivers 50 percent more hydrogen from supply sights in the Nordics at a 20 percent lower cost.
Supply Chain Project Pipeline in Europe
Provaris is progressing a two hydrogen supply chain project in the Nordics, which include a German utility for offtake. Additional opportunities under review:
> Norway: Working with developers on hydrogen export infrastructure
> Spain: Assessing sites for export and supply chain integration.
> Finland: Identification of suitable sites for bulk-scale hydrogen export infrastructure.
Multiple projects will further diversify Provaris’ revenue potential and position the company as a key enabler of Europe’s hydrogen transition.
Key Features and Benefits of Compressed Hydrogen
- Enhanced Safety: Provaris’ compressed hydrogen technology prioritizes safety in storage and transportation.
- Cost-effectiveness: By eliminating the need for complex liquefaction or ammonia synthesis processes, the company's solutions reduce overall costs.
- Scalability: The technology is adaptable to various project sizes, from regional supply chains to large-scale international exports.
- Environmental Sustainability: Compressed green hydrogen aligns with global efforts to reduce carbon emissions and transition to cleaner energy sources.
Recent Concept Design Study reaffirms simplicity and efficiency of compressed hydrogen enables low-cost supply for Europe.
Innovative Hydrogen Vessel Designs: H2Neo Carrier and H2Leo Barge for export efficiency
Complementing its innovative compressed hydrogen technology, Provaris is in the final stages of developing new vessel designs specifically for hydrogen transport. These specialized vessels are engineered to safely and efficiently carry compressed hydrogen across maritime routes, opening up new possibilities for international green energy trade.
At the heart of Provaris’ innovative H2Neo carrier solution is its proprietary compressed hydrogen technology. The H2Neo offers a more efficient and cost-effective alternative to traditional methods of hydrogen storage and transport. These carriers are designed to address the growing global demand for hydrogen while overcoming the logistical challenges associated with green hydrogen distribution.
Strategic Partnerships using Provaris solutions for hydrogen
At the forefront of Provaris Energy's European strategy is a groundbreaking Memorandum of Understanding (MoU) with Norwegian Hydrogen and Germany-based international energy company Uniper Global Commodities. This tripartite agreement marks a pivotal step in developing hydrogen supply chains, leveraging each partner's unique strengths.
The collaboration strategically capitalizes on the Nordic region's geographical advantages, facilitating efficient hydrogen distribution across Europe, with a particular focus on the German market. Germany is reliant on the import of over 70 percent of its hydrogen demand by 2030. In January 2025, a breakthrough term sheet was announced for the supply, shipping and offtake of 42,500 tonnes per annum of hydrogen, with the target for converting to a binding Hydrogen SPA during 2025.
A second MOU collaboration is also underway replicating this success with a new hydrogen supply project and German utility. Further details are to be announced during 2Q 2025.
In The Netherlands, Provaris is collaborating with Global Energy Storage (GES) to develop a bulk-scale hydrogen import facility within Rotterdam’s global energy hub. The agreement involves the completion of a comprehensive prefeasibility study to demonstrate the technical and economic viability of berthing and unloading of Provaris’ H2Neo compressed hydrogen carriers. Provaris will be responsible for the transportation of the hydrogen in the H2Neo carriers and GES will be responsible for the discharge and injection into the hydrogen grid.
Innovating CO2 Storage and Transport
As part of its commitment to sustainable energy solutions, Provaris is expanding its portfolio to include CO₂ storage. This strategic move commenced with a ground-breaking partnership with Norway’s Yinson Production AS to bring innovation to liquid CO₂ storage and transport, for both maritime and onshore applications. Yinson is a USD 3 billion global energy infrastructure leader in FPSOs and renewable technologies, having raised USD 1.6 B in late-2024 for growth funding, including the establishment of CO₂ supply chains.
In 2024, a Joint Development Agreement (JDA) was announced to develop new bulk liquid CO₂ tank designs for floating, onshore, and ship-based storage applications, solving an industry bottleneck for CO₂ tank capacity limited to ~7,500 cbm. Targeting major gains in storage volume and reduced storage costs, tank designs at low pressure and temperature maximise storage and efficiency to reduce storage and transport costs.
CO2 offers Provaris growth in License Fees
Aligned with its technology license model for hydrogen, Yinson is funding Provaris’ development of new tank designs to be jointly owned and then licensed to owners of floating storage, shipping, and land-based storage solutions, which will include Yinson.
In March 2025 confirmation of an early milestone was achieved with a Concept Design for a new CO2 Tank design completed, with the next milestone set for June 2025. Development fees have included a USD 200,000 Technology License Fee paid under the JDA, with ongoing fees to be received in 2025.
Management Team
Martin Carolan – Managing Director & CEO
Greg Martin – Chairman
Andrew Pickering – Non-executive Director
David Palmer – Non-executive Director
Per Roed – Chief Technical Officer
Mats Fagerberg – Business Development, Europe
Garry Triglavcanin – Product Development Director
Norman Marshall – Group Commercial Manager
John Stevenson – Group Financial Controller
Jessica Roed – Operations Manager, Norway
Carbonxt Group
Investor Insight
In an increasingly eco-conscious global market, Carbonxt makes a compelling investment case, leveraging a growing addressable market driven by regulatory changes and strategic partnerships. This addressable market is anticipated to grow substantially with the introduction of new regulations targeting PFAS and other environmental contaminants.
Overview
Activated carbon, derived from materials like coconut husks and coal, is a critical tool for filtering contaminants from air and water. Its effectiveness comes from a unique oxidation process that creates a vast network of microscopic pores, dramatically increasing surface area. This versatility makes activated carbon essential across industries, including healthcare, agriculture, oil and gas, and food processing.
For large-scale industrial applications, activated carbon is available in powdered, pellet, and granular forms, with prices ranging from US$2,000 to US$6,000 per tonne—presenting a significant market opportunity.
Carbonxt Group (ASX:CG1) is positioned to capitalize on this demand. As an innovative manufacturer of custom activated carbon, Carbonxt has expanded its reach through a partnership with US-based Kentucky Carbon Processing, forming the joint venture NewCarbon. This partnership enhances Carbonxt’s market potential and strengthens its gross margins.
A key driver of Carbonxt’s growth is its new Inez Power Activated Carbon Plant in Kentucky, which focuses on water treatment—a sector set for transformation due to new US regulations targeting PFAS contamination. PFAS, so-called "forever chemicals," persist in water, soil and even human bodies, with links to serious health issues like cancer, thyroid disease and developmental disorders.
The EPA’s Clean Water Act and the Bipartisan Infrastructure Deal allocate $10 billion to combat PFAS pollution, forcing water utilities to upgrade their filtration systems. Carbonxt’s specialized activated carbon solutions are designed to meet this demand. Through NewCarbon, the company is repurposing a waste-to-energy plant into an advanced activated carbon facility, significantly expanding its production capacity.
With 50,000 water utilities across the US accounting for half the granular activated carbon market, Carbonxt is strategically positioned to challenge industry incumbents and reshape the sector.
In addition to the Kentucky facility, Carbonxt has two more production facilities in the US: the Black Birch Powdered Activated Carbon Facility in Georgia and the Arden Hills Pelletization Plant in Minnesota. These facilities have a combined current total capacity of 13,500 tons per annum. The company plans to expand this capacity to 43,500 tonnes per annum by 2027.
Company Highlights
- Carbonxt Group is a manufacturer of patented activated carbon products designed to treat toxic pollutants in both air and water. The company has secured key partnerships and research grants to enhance its product development and market reach.
- Carbonxt currently has an addressable US market for the air phase exceeding US$290 million, with opportunities to expand significantly due to regulatory shifts.
- The partnership with Kentucky Carbon Processing has resulted in the joint venture company, NewCarbon, affording Carbonxt several advantages:
- Increased US-based production capacity to over 20,000 tons per annum, with potential for further expansion.
- Control over input costs, improving base margins.
- Access to high-quality raw materials, ensuring consistent product performance.
- The opening of this new facility allows Carbonxt to enter the water phase market of pollution control, increasing the addressable market to approximately US $1 billion.
- In the near future, much of Carbonxt's growth will be driven by the United States Environmental Protection Agency's increasing regulation of PFAS. There are 50,000 water utility companies in the US, with 4,000 serving over 10,000 customers, collectively representing a significant market.
- The addressable market is expected to increase to well over US$2 billion as these PFAS rulings come into place over the next three years.
- Carbonxt is well-positioned to serve these companies, providing granular activated carbon as well as activated carbon pellets that offer improved filtration with a lower pressure drop as a replacement for granular activated carbon.
- In addition to a highly experienced leadership team, Carbonxt’s strong revenue and earnings growth potential from NewCarbon make the company an attractive investment prospect.
Core Product
High-performance Activated Carbon
Carbonxt designs specialized activated carbon products for its customers, which consist primarily of industrial sector organizations and power utilities. Available in pellet and powder form, the company's oxidizing, non-brominated activated carbons are non-corrosive and designed to remain efficient throughout their entire lifecycle. Although Carbonxt’s origin and listing is in Australia, its products are manufactured and distributed exclusively within the United States.
Carbonxt is currently focused on developing an activated carbon manufacturing facility in Kentucky, the result of a joint partnership with Kentucky Carbon Processing. Once this facility is operational, water utility companies are expected to form a much larger part of its customer base. The facility is also expected to re-invigorate the company's industrial pellet market sales.
Highlights:
- Strong Market Outlook: Industry demand for powdered and pelletized activated carbon remains strong. Prices have trended considerably upwards over the past year and will likely continue to do so for the foreseeable future, particularly if the Trump administration persists with the imposition of wide-spread tariffs.
- Pricing Trends: Carbonxt's primary competitors in the activated carbon market have both announced price increases ranging from 15 to 40 percent. The company's activated carbon products have the potential to offer better filtration at a considerably lower price point.
- Looking Up: Continued improvements in gross margins (1H25 gross margin at 49 percent, up from 44 percent in 1H24) driven by price increases and ongoing cost-reduction initiatives, including at the Black Birch facility.
- Making a Good First Impression: Carbonxt's high-specification sample products have been well-received by end customers. Management is currently in talks with numerous water utilities to purchase capacity from the company's new facility once it comes online.
- Use Cases: Carbonxt currently manufactures activated carbon products for the following:
- Powdered activated carbons for mercury and flue gas component removal. Customers for this use case include coal-fired power plants, cement plants and industrial boilers & incinerators. Carbonxt manufactures a specialized activated carbon for each type of customer.
- Pelletized activated carbon for the removal of VOCs and hydrogen sulphide from gas streams.
- High-quality pelletized activated carbons designed to remove drinking water contaminants as well as taste and odor compounds.
- Contract Agreements: Carbonxt secured a $4.3 million purchase order for activated carbon products from US utility Wisconsin Public Service. The company also secured a four-year contract extension to supply premium PAC products to Reworld, a global leader in sustainable waste solutions. The deal will generate group revenues of approximately $6 million per annum for the duration of the contract.
Production Facilities
Carbonxt operates three U.S.-based production facilities, each specializing in a key segment of the activated carbon market.
Inez Power Activated Carbon Plant (Kentucky) – The newest and most advanced facility, producing 6,000 tons annually (expanding to 10,000 tons). Designed for granular and pelletized activated carbon, this plant boasts a 99 percent PFOA removal rate, positioning Carbonxt for dominance in PFAS removal and the liquid-phase filtration market—which is twice the size of the air-phase market.
Black Birch Powdered Activated Carbon Facility (Georgia) – Produces 6,000 tons annually (expanding to 10,000 tons), specializing in wood-based powdered activated carbon for industrial applications, including MatsPAC, AquaPAC and CEMPAC product lines.
Arden Hills Pelletization Plant (Minnesota) – Focuses on pelletized wood and lignite carbons, primarily for mercury removal and emissions control. Currently producing 7,500 tons, with key products NAQ-ACP and CTC-ACP.
Management Team
David Mazyck – President, NewCarbon and Director of Technology
Dr. David Mazyck is a world-leading expert on activated carbon (AC) and its applications including mercury capture. He has developed AC products for major multinational AC manufacturers and has regularly consulted them on technical issues. Mazyck is the former chairman of the Activated Carbon Standards Committee for the American Waterworks Association and has developed products for NASA.
He received his PhD in environmental engineering from Penn State University, where he also earned a PhD minor in fuel science.
Matthew Driscoll - Chairman
Matthew Driscoll has significant experience across several industries, including online technologies, financial services, fintech, cleantech, property and resources. He has more than 30 years’ experience in capital markets and the financial services industry and is an accomplished company director in roles across listed and private companies.
He has significant experience in international business growth, mergers and acquisitions, equity and debt raisings and building strategic alliances. His current directorships include NED Energy Technologies, NED Blina Minerals, NED Eco Systems, and NED Smoke Alarms Holdings.
Warren Murphy - Managing Director
Warren Murphy has led a large number of acquisitions and financings across the energy, resources and infrastructure sectors. This includes the development of over 2,000 MW of Greenfields power stations and the acquisition of over 3,000 MW of generation assets.
He was co-head of the Australian Infrastructure & Project Finance Group and Head of Energy at Babcock & Brown based in the Sydney office and led the development of Babcock & Brown’s energy sector capability in Australia and New Zealand, including the founding of Infigen Energy and its unlisted predecessor, Global Wind Partner, where he served as a director from inception until June 2009.
Murphy was also a director of the ASX-listed Alinta and Sydney Gas, as well as the unlisted Coogee Resources.
Imtiaz Kathawalla – Independent Director
Imtiaz Kathawalla was a vice-president at NYSE-listed Cabot Corporation, a global specialty chemical company where he had a 27-year career. Kathawalla's most recent position with Cabot Corporation was as general manager of Cabot's purification solutions division. He ran the group's US$300-million global activated carbon business where he oversaw a material increase in EBITDA before managing the sale of the business to a large private equity group.
Nicholas Andrews – Independent Director
Nicholas Andrews has held the role of executive chairman and CEO at Magontec (ASX:MGL), an established business in the global magnesium sector. He is a member of the executive committee and serves on the board of the International Magnesium Association. Prior to his executive career, Andrews held several senior roles in the financial services sector across both investment management and investment banking.
Charbone Hydrogen Investor Kit
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