FN Media Group News Commentary - The green hydrogen market is experiencing rapid growth, driven by global efforts to reduce carbon emissions and advancements in electrolysis and renewables. Government support through policies and investments is also boosting growth. Its versatility and scalability make green hydrogen a key player in the transition to sustainable energy. The market is even being propelled by its increasing use in fuel cell electric vehicles (FCEVs) and high-energy-intensive industries like steel and ammonia production, further driving demand and market expansion. A report from MarketsAndMarkets said: "The green hydrogen market was valued at USD 1.1 billion in 2023 and is projected to reach USD $30.6 Billion by 2030, growing at 61.1% CAGR from 2023 to 2030." The report said: "Hydrogen's versatility has expanded beyond its traditional role in fuel cells for electric vehicles, now encompassing the production of alternative fuels like ammonia, methanol, and synthetic liquids. These energy carriers are gaining prominence and are poised to drive future demand. In developing economies, green hydrogen presents a pathway to a low-carbon future, offering a nearly carbon-free fuel option for marine transportation, hydrogen fuel cells in electric vehicles (EVs), and industrial backup power. The diverse array of applications positions the green hydrogen sector as a lucrative venture with significant growth potential. The market for green hydrogen in vehicle fuel cells is rapidly evolving, providing the convenience of fossil fuels without the associated emissions." Active companies in the markets this week include Charbone Hydrogen Corporation (OTCQB: CHHYF) (TSXV: CH), Bloom Energy (NYSE: BE), NANO Nuclear Energy Inc. (NASDAQ: NNE), Plug Power Inc. (NASDAQ: PLUG), FuelCell Energy, Inc . (NASDAQ: FCEL).
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Charbone Hydrogen Announces Updates on Previous Announcements
Charbone Hydrogen Corporation (TSXV:CH ) , ( OTC:CHHYF ) , ( FWB:K47) (“ Charbone ” or the “ Company ”) is announcing updated information concerning the $300,000 secured convertible debentures with an arm’s length investor FINEXCORP (the “ Debentures ”) and services agreements signed with Proactive Investors North America Inc. (“ Proactive ”) and Investing News Network (“ INN ”).
Concerning the Debentures, announced on August 31, 2023, Charbone has agreed with the holder to the change of the maturity date from March 1, 2025 to March 30, 2025. All the other terms of the Debentures would stay the same and will be issued upon the approval of the TSX Venture Exchange and other customary closing conditions.
In addition, the promotional services agreement with an arm’s length investor Proactive, announced on December 7, 2023, is for an initial term of one year, started on December 11, 2023, at monthly payments fee of $3,750. The Agreement will automatically renew for additional successive 12-month terms at the end of the initial term and each subsequent renewal term, unless either party provides the other party with written notice of non-renewal at least 90 days prior to the end of the then current term.
Also, the investor relations services agreement with an arm’s length investor INN, announced on December 18, 2023, is for a 14-month term, started on December 14, 2023, at 12 monthly payments fee of $4,575 until December 2024.
About Charbone Hydrogen Corporation
Charbone is a green hydrogen group established in North America. The company's strategy is to develop modular and expandable hydrogen facilities and regional hubs. Charbone will be able to produce green dihydrogen molecules using reliable and sustainable energy in order to distinguish itself as a supplier of an ecological solution for industrial, commercial and mobility users.
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 , along with risks relating to the Offering and the intended use of proceeds of the Offering; 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.
Contacts
Benoit Veilleux
Chief Financial Officer and Corporate Secretary
CHARBONE Hydrogen Corporation
Telephone: +1 450 678-7171
Email: bv@charbone.com
Dave B. Gagnon
Chief Executive Officer and Chairperson of the Board
CHARBONE Hydrogen Corporation
Telephone: +1 450 678-7171
Email: dg@charbone.com
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Charbone Hydrogen
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.
Source: IRENA - Geopolitics of energy transformation: the hydrogen factor
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. This is the scale of hydrogen production the government is aiming to achieve. This would imply massive investments in creating the infrastructure to support production. The US government’s Bipartisan Infrastructure Law sets aside $9.5 billion in total funding, including $8 billion for creating 10 regional hydrogen hubs and $1.5 billion in additional funding for other support.
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.
Company Highlights
- Charbone Hydrogen is a Canada-based producer of green hydrogen, and is the only publicly listed green hydrogen producer in Canada.
- The company aims to develop a pipeline of 16 green hydrogen projects across the US and Canada. Of which, the first facility at Sorel-Tracy (Quebec, Canada) is under construction and is expected to be production-ready in mid-2024.
- The company will leverage hydropower and nuclear energy to produce green hydrogen which will allow it to control production costs while lowering emissions. Energy costs remain a significant portion of hydrogen production and the ability to lower these costs will make Charbone’s offering more competitive.
- Charbone has developed several strategic partnerships aimed at strengthening its position in the hydrogen market. This includes a construction agreement with EBC, a supply agreement with NEK Community Broadband, and an MOU with Oakland County for the development of the first green hydrogen plant in the US.
- In December 2023, the company announced the closing of the second tranche of private placement. When combined with the previous closing, the company has raised an aggregate of $499,877, which will be used to fund the construction of the Sorel-Tracy Project.
- Charbone is well positioned to participate in the rise of green hydrogen as a potential low-emitting alternative to fossil fuels.
Project Pipeline and Key Partnerships
The company plans to construct 16 hydrogen projects across North America (six in Canada and 10 in the US) over the next four years. The first of which is under construction at Sorel-Tracy in Quebec, which is expected to be production-ready by mid-2024. The Sorel-Tracy facility is located on a 40,000-square-meter land parcel along Quebec Highway 30. The highway is 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.
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.
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.
This article was written in collaboration with Couloir Capital.
Green Hydrogen Market Projected To Reach $30 Billion By 2030, Growing At 61.1% CAGR From 2023 To 2030
MarketsAndMarkets continued: "The power industry is accounted for second fastest growing end-use, in terms of value in the green hydrogen market, driven by its ability to store excess renewable energy and serve as a clean fuel for power generation. Green hydrogen's production from renewable sources like solar and wind power aligns with the industry's shift towards sustainable energy solutions. Government initiatives promoting renewable energy and carbon emission reduction further bolster the adoption of green hydrogen in the power sector. This trend underscores a broader transition towards cleaner and more sustainable energy sources, positioning green hydrogen as a crucial player in the global energy landscape."
Charbone Hydrogen Corporation (OTCQB:CHHYF) (TSXV:CH) IS MORE THAN DOUBLING ITS PHASE 1 ELECTROLYZER CAPACITY TO POWER UP GREEN HYDROGEN PRODUCTION AT THE SOREL-TRACY, QUEBEC PLANT - Company now gearing up and actively enhancing its supply chain of fully integrated electrolyzers with capacities up to 2.5 MW, 5.0 MW and 10.0 MW for all of its projects - Charbone Hydrogen Corporation (the "Company" or "CHARBONE"), North America's only publicly traded pure-play green hydrogen company, is pleased to confirm that it has executed a supply agreement of a complete containerized electrolyzer system ready for shipment to its flagship green hydrogen site, located in the City of Sorel-Tracy, Quebec. After arrival on site, the system is expected to take 4-6 weeks of installation and commissioning to be in production.
This new electrolyzer has a higher capacity than originally planned for and will significantly enhance CHARBONE's initial operational capacity estimates. Coinciding with facility construction plans that remain on schedule, the Company anticipates the electrolyzer system will be delivered during the Q3-2024 timeframe.
The Sorel-Tracy Green Hydrogen Project will serve as the Company's flagship facility, giving CHARBONE a first-mover advantage with production starting later this year with an initial capacity of approximately 400kg. Following a phased development approach, the project will allow to gradually scale up the production of hydrogen. The facility will target a wide array of industrial users who are abandoning fossil-fuel-driven gray hydrogen and opting for a cleaner alternative.
" Locking down the delivery of an electrolyzer that will immediately increase operational margins is a turning point and a decisive step forward in our overall growth strategy ," said Daniel Charette, COO of CHARBONE. " We have a strong strategic vision for developing and deploying our green hydrogen network and the surrounding ecosystems, and we look forward to soon introducing , new decarbonization and bankable solutions into the North American market. "
In addition to its Sorel-Tracy pursuits, the Company is planning to introduce a second green hydrogen project in 2024 in the Detroit, Michigan area as well. In total, CHARBONE plans to deliver 16 green hydrogen production facilities across North America by 2030 and is actively securing its supply chain of fully integrated electrolyzers ranging up to 2.5 MW, 5.0 MW and 10.0 MW. CONTINUED … Read this full press release and more news for Charbone Hydrogen at: https://www.charbone.com/en/nouvelles
Other recent developments in the energy industry of note include:
Bloom Energy (NYSE: BE) recently announced a groundbreaking collaboration with Sembcorp Industries (Sembcorp) at the sidelines of the 2024 Clean Economy Investor Forum, organized under the auspices of the Indo-Pacific Economic Framework (IPEF). The Bloom-Sembcorp collaboration will involve Sembcorp's potential utilization of Bloom's proprietary solid oxide fuel cell technology and third-party proven carbon capture technologies to produce reliable, low-carbon electricity to meet Singapore's changing energy needs.
This collaboration aligns with Singapore's recent launch of the Green Data Centre Roadmap, where one of the goals is to develop sustainable data centers with a greater use of green energy 1 . Bloom's fuel cell Energy Server product, when integrated with carbon capture, will provide low-carbon power to the data centers. The same system can potentially deliver green energy in the future, tapping on low-carbon feedstock. The Energy Servers can also be deployed as a grid parallel system in conjunction with utility power, mitigating grid constraints.
NANO Nuclear Energy Inc. (NASDAQ: NNE) recently announced its acquisition of novel annular linear induction pump (ALIP) intellectual property used in small nuclear reactor cooling and heat transfer from noted physicist, research engineer and project manager Carlos O. Maidana, PhD. of Maidana Research.
Dr. Maidana has agreed to collaborate with NANO Nuclear as a consultant on further development of the ALIP technology with a view towards achieving SBIR Phase III Award status. These efforts will build on previous Department of Energy grants for the technology, aggregating over $1.37 million in prior phases. NANO Nuclear will provide funding (estimated to be approximately $350,000) and other resources necessary for the Phase III project, and Dr. Maidana will be the Principal Investigator on this project.
Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the green hydrogen economy, recently secured an order for 25 megawatts (MW) of proton exchange membrane (PEM) electrolyzer systems for a customer in Europe. The project will employ five of Plug's 5 MW containerized PEM electrolyzers, to reduce the carbon footprint of the company by using green hydrogen.
"The selection of Plug's technology for this project serves as a clear example of our established industry expertise and proven technology," stated Plug CEO Andy Marsh. "Industry experts have highlighted the immense market potential for green hydrogen in Europe as being a key factor for reaching European Union decarbonization targets. This presents a significant opportunity for Plug, and we have the market knowledge and technology readily available to make a substantial impact."
FuelCell Energy, Inc. (NASDAQ: FCEL) and Gyeonggi Green Energy Co., Ltd. (GGE), recently announced that pursuant to a long term service agreement GGE has agreed to purchase 42 1.4-megawatt upgraded carbonate fuel cell modules from FuelCell Energy to replace existing fuel cell modules at the Hwaseong Baran Industrial Complex fuel cell power platform, the world's largest fuel cell power platform, located in Hwaseong-si.
The agreement, which constitutes a significant milestone for supplying clean baseload power to the Korean market, also includes a new seven-year service agreement pursuant to which FuelCell Energy will service the fuel cell modules. Under the terms of the agreement, the Company expects to receive approximately $160 million of revenue over the term of the agreement.
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News Provided by GlobeNewswire via QuoteMedia
Charbone Hydrogen is More Than Doubling its Phase 1 Electrolyzer Capacity to Power Up Green Hydrogen Production at the Sorel-Tracy, Quebec Plant
(TheNewswire)
Company now gearing up and actively enhancing its supply chain of fully integrated electrolyzers with capacities up to 2.5 MW, 5.0 MW and 10.0 MW for all of its projects
Brossard, Quebec, June 25 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, is pleased to confirm that it has executed a supply agreement of a complete containerized electrolyzer system ready for shipment to its flagship green hydrogen site, located in the City of Sorel-Tracy, Quebec. After arrival on site, the system is expected to take 4-6 weeks of installation and commissioning to be in production.
This new electrolyzer has a higher capacity than originally planned for and will significantly enhance CHARBONE's initial operational capacity estimates. Coinciding with facility construction plans that remain on schedule, the Company anticipates the electrolyzer system will be delivered during the Q3-2024 timeframe.
The Sorel-Tracy Green Hydrogen Project will serve as the Company's flagship facility, giving CHARBONE a first-mover advantage with production starting later this year with an initial capacity of approximately 400kg. Following a phased development approach, the project will allow to gradually scale up the production of hydrogen. The facility will target a wide array of industrial users who are abandoning fossil-fuel-driven gray hydrogen and opting for a cleaner alternative.
" Locking down the delivery of an electrolyzer that will immediately increase operational margins is a turning point and a decisive step forward in our overall growth strategy ," said Daniel Charette, COO of CHARBONE . " We have a strong strategic vision for developing and deploying our green hydrogen network and the surrounding ecosystems, and we look forward to soon introducing , new decarbonization and bankable solutions into the North American market. "
In addition to its Sorel-Tracy pursuits, the Company is planning to introduce a second green hydrogen project in 2024 in the Detroit, Michigan area as well. In total, CHARBONE plans to deliver 16 green hydrogen production facilities across North America by 2030 and is actively securing its supply chain of fully integrated electrolyzers ranging up to 2.5 MW, 5.0 MW and 10.0 MW.
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 .
Contacts Charbone Hydrogen Corporation | ||||
Dave B. Gagnon | ||||
Chief Executive Officer and Chairperson of the Board | ||||
Telephone: | +1 438 844-7170 | |||
Email: | ||||
Daniel Charette | ||||
Chief Operating Officer | ||||
Telephone: | +1 438 800-4946 | |||
Email: | ||||
Benoit Veilleux | ||||
Chief Financial Officer and Corporate Secretary | ||||
Telephone: | +1 438 800-4991 | |||
Email: | ||||
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Charbone Hydrogene Double la Capacite De Son Electrolyseur De La Phase 1 Pour Alimenter La Production D'hydrogene Vert A L'usine De Sorel-Tracy Quebec
(TheNewswire)
La Société prépare et améliore activement sa chaîne d'approvisionnement en électrolyseurs entièrement intégrés avec des capacités allant jusqu'à 2,5 MW, 5,0 MW et 10,0 MW pour tous ses projets
Brossard (Québec), le 25 juin 2024 TheNewswire - CORPORATION CHARBONE HYDROGÈNE (TSXV: CH OTCQB: CHHYF, FSE: K47 ) (« Charbone » ou la « Société »), la seule société d'Amérique du Nord cotée en bourse spécialisée dans l'hydrogène vert, est heureuse de confirmer qu'elle a signé un contrat d'approvisionnement d'un système d'électrolyseur conteneurisé complet prêt à être expédié vers son site phare d'hydrogène vert, situé dans la ville de Sorel-Tracy, au Québec. Après l'arrivée sur le site, le système devrait prendre de 4 à 6 semaines d'installation et de mise en service pour être en production.
Ce nouvel électrolyseur a une capacité supérieure à celle initialement prévue et améliorera considérablement les estimations initiales de performances opérationnelles de Charbone. Coïncidant avec les plans de construction des installations qui restent dans les délais, la Société prévoit la livraison du système d'électrolyseur durant le troisième trimestre de 2024.
Le projet d'hydrogène vert de Sorel-Tracy servira d'installation phare de la Société, donnant à Charbone un avantage de premier arrivant avec une production débutant plus tard cette année avec une capacité initiale d'environ 400 kg. Suivant une approche de développement par étapes, le projet permettra d'augmenter progressivement la production d'hydrogène. L'installation ciblera un large éventail d'utilisateurs industriels qui abandonnent l'hydrogène gris issu de combustibles fossiles et optent pour une alternative plus propre.
" Nous maitrisons la livraison d'un électrolyseur qui augmentera immédiatement les marges opérationnelles est un point tournant et une avancée décisive dans notre stratégie globale de croissance , a déclaré Daniel Charette, Chef de l'exploitation chez Charbone. " Nous avons une vision stratégique forte pour le développement et le déploiement de notre réseau d'hydrogène vert et des écosystèmes environnants, et nous avons hâte d'introduire bientôt de nouvelles solutions de décarbonation et qui sont finançables sur le marché nord-américain . "
En plus de ses activités à Sorel-Tracy, la Société prévoit également de lancer un deuxième projet d'hydrogène vert en 2024 dans la région de Détroit, au Michigan. Au total, Charbone prévoit de livrer 16 usines de production d'hydrogène vert à travers l'Amérique du Nord d'ici 2030 et sécurise activement sa chaîne d'approvisionnement d'électrolyseurs entièrement intégrés allant jusqu'à 2,5 MW, 5,0 MW et 10,0 MW.
À propos de Charbone Hydrogène Corporation
Charbone est un groupe intégré de production d'hydrogène vert axé sur le déploiement d'un réseau nord-américain d'usines de production. En utilisant des énergies renouvelables pour produire des molécules de dihydrogène (H2) et des solutions écoénergétiques et respectueuses de l'environnement aux utilisateurs industriels, institutionnels, commerciaux et de la mobilité future, Charbone prévoit déployer et livrer des usines de production d'hydrogène vert aux États-Unis et au Canada d'ici 2024, et 14 usines supplémentaires sont prévues d'ici 2030. Charbone est la seule société d'Amérique du Nord cotée en bourse spécialisée dans l'hydrogène vert avec ses actions ordinaires se négociant sur la Bourse de croissance TSX (TSXV: CH); les marchés OTC (OTCQB: CHHYF); et la Bourse de Francfort (FSE: K47). Pour plus d'information, merci de visiter www.charbone.com .
Énoncés prospectifs
Le présent communiqué de presse contient des énoncés qui constituent de « l'information prospective » au sens des lois canadiennes sur les valeurs mobilières (« déclarations prospectives »). Ces déclarations prospectives sont souvent identifiées par des mots tels que « a l'intention », « anticipe », « s'attend à », « croit », « planifie », « probable », ou des mots similaires. Les déclarations prospectives reflètent les attentes, estimations ou projections respectives de la direction de Charbone concernant les résultats ou événements futurs, sur la base des opinions, hypothèses et estimations considérées comme raisonnables par la direction à la date à laquelle les déclarations sont faites. Bien que Charbone estime que les attentes exprimées dans les déclarations prospectives sont raisonnables, les déclarations prospectives comportent des risques et des incertitudes, et il ne faut pas se fier indûment aux déclarations prospectives, car des facteurs inconnus ou imprévisibles pourraient faire en sorte que les résultats réels soient sensiblement différents de ceux exprimés dans les déclarations prospectives. Des risques et des incertitudes liés aux activités de Charbone peuvent avoir une incidence sur les déclarations prospectives. Ces risques, incertitudes et hypothèses comprennent, sans s'y limiter, ceux décrits à la rubrique « Facteurs de risque » dans la déclaration de changement à l'inscription de la Société datée du 31 mars 2022, qui peut être consultée sur SEDAR à l'adresse www.sedar.com; ils pourraient faire en sorte que les événements ou les résultats réels diffèrent sensiblement de ceux prévus dans les déclarations prospectives.
Sauf si les lois sur les valeurs mobilières applicables l'exigent, Charbone ne s'engage pas à mettre à jour ni à réviser les déclarations prospectives.
Ni la Bourse de croissance TSX ni son fournisseur de services de réglementation (tel que ce terme est défini dans les politiques de la Bourse de croissance TSX) n'acceptent de responsabilité quant à la pertinence ou à l'exactitude du présent communiqué.
Contacts
Pour de plus amples informations, veuillez contacter :
Dave B. G agnon | ||
Chef de la direction et président du conseil d'administration | ||
Corporation Charbone Hydrogène | ||
Téléphone bureau: +1 438 844-7170 | ||
Courriel: dg@charbone.com | ||
Daniel Charette | ||
Chef de l'exploitation | ||
Corporation Charbone Hydrogène | ||
Téléphone bureau : +1 438 800-4946 | ||
Courriel: dc@charbone.com | ||
Benoit Veilleux | ||
Chef de la direction financière et secrétaire corporatif | ||
Corporation Charbone Hydrogène | ||
Téléphone bureau: +1 438 800-4991 | ||
Courriel: bv@charbone.com |
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Charbone Hydrogen Announces Amendment to Terms of Convertible Debentures with Finexcorp-Led Group
(TheNewswire)
Brossard, Quebec TheNewswire - June 10, 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 announce that further to its news release dated October 11, 2022, it has signed an agreement of principles to amend (the "Debenture Amendment" ) certain terms of the secured convertible debentures of the Company (each, a "Debenture" ) that were issued by the Company in connection with the private placement of debentures of an aggregate principal amount of $1.2 million CAD of 14% secured convertible debentures.
Prior to the Debenture Amendment taking effect, the Debentures were convertible into common shares of CHARBONE (each, a "Debenture Share" ), at a conversion price per share of $0.40 CAD, until maturity.
Under the new Debenture Amendment:
The maturity date has been extended from October 7, 2024 to October 31, 2025;
The convertible balance, including unpaid interests, moves from $1.2 million CAD to $1.345 million CAD with a annual rate decrease dropping from 14% to 12%, payable monthly; and
The conversion price of the Debentures moves from $0.40 per Debenture Share to $0.10 CAD per Debenture Share; with an additional 1,345,000 new warrants exercisable at a price per share of $0.10 CAD, for a period of 12 months (the "Warrants" ).
The new Debentures and Warrants will be subject to the approval of the TSX Venture Exchange and the completion of a first closing of the multi-million-dollar financing mentioned by press release on March 18, 2024.
"The steps announced today meaningfully extend maturities and provide us with additional financial flexibility to execute our plans to deliver green hydrogen production facilities in both the US and Canada before year end," said Benoit Veilleux, Chief Financial Officer and Corporate Secretary of CHARBONE . "We will continue to optimize our capital structure as we gain momentum and advance our first-mover advantages and shareholder interests."
Other Corporate Updates
Investment Publishing LLC has been active since 2014 on different YouTube channels and based in Indiana (USA). Common Cents Media, from Washington state (USA), is a market communications and digital content partner to companies driving disruptive innovation and environmental sustainability across tech and resource intensive sectors. Investment Publishing LLC subscribed for 420,000 Units of the February 1st, 2024 private placement. No stock options are being granted to either Investment Publishing LLC or Common Cents Media, and no other compensation is payable in connection with their engagement other than the monthly fee disclosed in the press release issued on February 20th, 2024 and they do not have any intent to acquire more interest in Charbone, as per Charbone's knowledge.
Further to its news releases dated December 7, 2023 and March 8, 2024 announcing the closing of Units for debt settlement for a total of $138,066 of suppliers' payables, the Company is pleased to announce that it has received all approval from TSX Venture Exchange to issue the shares and warrants and can confirm settlement of the debts. Also, the nature of services provided were $88,066 for legal fees and $50,000 for engineering work.
Charbone has retained Independent Trading Group (‘'ITG''), established in 1992 and based in Toronto as an independent dealer, to provide services whereby it will buy and sell securities of the Company for the purposes of " market making " , which includes facilitating trading, or liquidity, in those securities in the capital of the Company that are trading on the TSX Venture Exchange. Under the terms of the agreement, ITG will receive a fee of $5,000 per month for an initial period of three months, commencing May 1, 2022. The agreement has been automatically renewed since then and will continue to renew for subsequent 1-month terms unless either party provides at least 30 days written notice. No stock options are being granted, and no other compensation is payable in connection with the engagement. Chris Kaplan from ITG has no relationship with Charbone other than being the market maker for Charbone. ITG has variable stock position in Charbone in the course of the " market making " mandate and using their own funds to execute.
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 .
Contacts Charbone Hydrogen Corporation | ||||
Dave B. Gagnon | ||||
Chief Executive Officer and Chairperson of the Board | ||||
Telephone: | +1 438 844-7170 | |||
Email: | ||||
Daniel Charette | ||||
Chief Operating Officer | ||||
Telephone: | +1 438 800-4946 | |||
Email: | ||||
Benoit Veilleux | ||||
Chief Financial Officer and Corporate Secretary | ||||
Telephone: | +1 438 800-4991 | |||
Email: | ||||
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Charbone Hydrogene Annonce un Amendement aux Conditions des Debentures Convertibles Avec le Groupe Mene Par Finexcorp
(TheNewswire)
Brossard (Québec) TheNewswire - le 10 juin 2024 - CORPORATION CHARBONE HYDROGÈNE (TSXV: CH OTCQB: CHHYF, FSE: K47 ) (« Charbone » ou la « Société »), la seule société d'Amérique du Nord cotée en bourse spécialisée dans l'hydrogène vert, est heureuse d'annoncer que suite à son communiqué de presse daté du 11 octobre 2022, elle a signé un accord de principes visant à modifier (l' « Amendement des Débentures » ) certaines modalités des débentures convertibles garanties de la Société (chacune, une « Débenture ») qui ont été émises par la Société dans le cadre d'un placement privé de débentures d'un capital global de 1,2 millions de dollars canadiens de débentures convertibles garanties à 14 %.
Avant l'entrée en vigueur de la modification des débentures, les débentures étaient convertibles en actions ordinaires de Charbone (chacune, une « Action de Débenture »), à un prix de conversion par action de 0.40$CA, jusqu'à l'échéance.
En vertu de la nouvelle modification des Débentures :
La date d'échéance a été prolongée du 7 octobre 2024 au 31 octobre 2025 ;
Le solde convertible, incluant les intérêts impayés, passe de 1,2 millions de dollars canadiens à 1,345 millions de dollars canadiens avec une baisse du taux annuel passant de 14 % à 12 %, payable mensuellement ; et
Le prix de conversion des débentures passe de 0,40$CA par Action de Débenture à 0,10$CA par Action de Débenture; avec 1 345 000 nouveaux bons de souscription supplémentaires exerçables au prix par action de 0,10$CA, pour une période de 12 mois (les « Bons de Souscriptions »).
Les nouvelles Débentures et Bons de Souscriptions seront assujettis à l'approbation de la Bourse de croissance TSX et à la réalisation d'une première clôture du financement de plusieurs millions de dollars mentionné par le communiqué de presse du 18 mars 2024.
" Les étapes annoncées aujourd'hui prolongent considérablement les échéances et nous offrent une flexibilité financière supplémentaire pour exécuter nos plans visant à livrer des installations de production d'hydrogène vert aux États-Unis et au Canada avant la fin de l'année , a déclaré Benoit Veilleux, Chef de la direction financière et secrétaire corporatif de Charbone. " Nous continuerons d'optimiser notre structure de capital à mesure que nous prendrons de l'élan et ferons progresser nos avantages de premier arrivant et les intérêts de nos actionnaires . "
Autres mises à jour corporatives
Investment Publishing LLC est actif depuis 2014 sur différentes chaînes YouTube et basé dans l'Indiana (États-Unis). Common Cents Media, de l'état de Washington (États-Unis), est un partenaire de communication commerciale et de contenu numérique pour les entreprises qui stimulent l'innovation de rupture et la durabilité environnementale dans les secteurs à forte intensité technologique et de ressources. Investment Publishing LLC a souscrit 420 000 unités du placement privé du 1 er février 2024. Aucune option d'achat d'actions n'est accordée à Investment Publishing LLC ni à Common Cents Media, et aucune autre rémunération n'est payable dans le cadre de leur engagement autre que les frais mensuels divulgués dans le communiqué de presse publié le 20 février 2024 et ils n'ont aucune intention d'acquérir plus d'intérêt dans Charbone, selon les connaissances de Charbone.
À la suite de ses communiqués de presse datés du 7 décembre 2023 et du 8 mars 2024 annonçant la clôture d'unités pour règlement de dettes pour un total de 138 066 $ de dettes de fournisseurs, la Société est heureuse d'annoncer qu'elle a reçu toutes les approbations de la Bourse de croissance TSX pour émettre les actions et les bons de souscription et peut confirmer le règlement des dettes. De plus, la nature des services fournis était de 88 066 $ pour des frais juridiques et de 50 000 $ pour des travaux d'ingénierie.
Charbone a retenu les services d'Independent Trading Group ( « ITG ») , créé en 1992 et basé à Toronto en tant que courtier indépendant, pour fournir des services par lesquels ils achèteront et vendront des titres de la Société à des fins de « Tenue de marché », ce qui comprend faciliter la négociation, ou la liquidité, des titres de capital de la Société qui se négocient à la Bourse de croissance TSX. Selon les termes de l'accord, ITG recevra 5 000 $ par mois pour une période initiale de trois mois, à compter du 1 er mai 2022. L'accord a été automatiquement renouvelé depuis lors et continuera de se renouveler pour des durées ultérieures d'un mois, à moins que chaque partie fournisse un préavis écrit d'au moins 30 jours. Aucune option d'achat d'actions n'est attribuée et aucune autre rémunération n'est payable dans le cadre de la mission. Chris Kaplan d'ITG n'a aucune relation avec Charbone autre que celui d'être le teneur de marché de Charbone. ITG détient une position variable en actions dans Charbone au cours du mandat de « Tenue de marché » et utilise ses propres fonds pour s'exécuter.
À propos de Charbone Hydrogène Corporation
Charbone est un groupe intégré de production d'hydrogène vert axé sur le déploiement d'un réseau nord-américain d'usines de production. En utilisant des énergies renouvelables pour produire des molécules de dihydrogène (H2) et des solutions écoénergétiques et respectueuses de l'environnement aux utilisateurs industriels, institutionnels, commerciaux et de la mobilité future, Charbone prévoit déployer et livrer des usines de production d'hydrogène vert aux États-Unis et au Canada d'ici 2024, et 14 usines supplémentaires sont prévues d'ici 2030. Charbone est la seule société d'Amérique du Nord cotée en bourse spécialisée dans l'hydrogène vert avec ses actions ordinaires se négociant sur la Bourse de croissance TSX (TSXV: CH); les marchés OTC (OTCQB: CHHYF); et la Bourse de Francfort (FSE: K47). Pour plus d'information, merci de visiter www.charbone.com .
Énoncés prospectifs
Le présent communiqué de presse contient des énoncés qui constituent de « l'information prospective » au sens des lois canadiennes sur les valeurs mobilières (« déclarations prospectives »). Ces déclarations prospectives sont souvent identifiées par des mots tels que « a l'intention », « anticipe », « s'attend à », « croit », « planifie », « probable », ou des mots similaires. Les déclarations prospectives reflètent les attentes, estimations ou projections respectives de la direction de Charbone concernant les résultats ou événements futurs, sur la base des opinions, hypothèses et estimations considérées comme raisonnables par la direction à la date à laquelle les déclarations sont faites. Bien que Charbone estime que les attentes exprimées dans les déclarations prospectives sont raisonnables, les déclarations prospectives comportent des risques et des incertitudes, et il ne faut pas se fier indûment aux déclarations prospectives, car des facteurs inconnus ou imprévisibles pourraient faire en sorte que les résultats réels soient sensiblement différents de ceux exprimés dans les déclarations prospectives. Des risques et des incertitudes liés aux activités de Charbone peuvent avoir une incidence sur les déclarations prospectives. Ces risques, incertitudes et hypothèses comprennent, sans s'y limiter, ceux décrits à la rubrique « Facteurs de risque » dans la déclaration de changement à l'inscription de la Société datée du 31 mars 2022, qui peut être consultée sur SEDAR à l'adresse www.sedar.com; ils pourraient faire en sorte que les événements ou les résultats réels diffèrent sensiblement de ceux prévus dans les déclarations prospectives.
Sauf si les lois sur les valeurs mobilières applicables l'exigent, Charbone ne s'engage pas à mettre à jour ni à réviser les déclarations prospectives.
Ni la Bourse de croissance TSX ni son fournisseur de services de réglementation (tel que ce terme est défini dans les politiques de la Bourse de croissance TSX) n'acceptent de responsabilité quant à la pertinence ou à l'exactitude du présent communiqué.
Contacts
Pour de plus amples informations, veuillez contacter :
Dave B. G agnon | ||
Chef de la direction et président du conseil d'administration | ||
Corporation Charbone Hydrogène | ||
Téléphone bureau: +1 438 844-7170 | ||
Courriel: dg@charbone.com | ||
Daniel Charette | ||
Chef de l'exploitation | ||
Corporation Charbone Hydrogène | ||
Téléphone bureau : +1 438 800-4946 | ||
Courriel: dc@charbone.com | ||
Benoit Veilleux | ||
Chef de la direction financière et secrétaire corporatif | ||
Corporation Charbone Hydrogène | ||
Téléphone bureau: +1 438 800-4991 | ||
Courriel: bv@charbone.com |
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Nomgon Operations Update
Elixir Energy Limited (“Elixir” or the “Company”) is pleased to provide an operations update on the work currently underway in its 100% owned Nomgon IX Coal Bed Methane (CBM) Production Sharing Contract (PSC) in the South Gobi Basin, Mongolia.
HIGHLIGHTS
- Nomgon Pilot Plant water production at maximum levels
- Field reservoir pressure steadily decreasing towards gas desorption level
- Gas desorption breakthrough anticipated before the end of the year
The Mongolian Pilot Plant has produced over 73,000 barrels of water since its inception, and the current daily water production is now stable at ~280 barrels of water per day, the highest level the field has seen from the Nomgon-9 and Nomgon-10 producing wells.
The CBM field is now seeing steady reservoir pressure decrease at around 5 psi per month. Presuming this trend continues, the field should begin to see gas desorption breakthrough before the end of 2024.
Production operations are focused on water, and the Operators refrain from flaring the small volumes of gas from the annulus to keep the system stable.
Click here for the full ASX Release
This article includes content from Elixir Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
BPH Energy Limited Investor Webinar Presentation
David Breeze - Executive Director will provide an overview of the Company, BPH is a diversified company holding investments in medical technology and resources. BPH holds a significant interest (36%) in unlisted oil and gas exploration company Advent Energy Ltd.
This webinar can be viewed live via Zoom and will provide viewers the opportunity to hear from, and engage with, a range of ASX-listed leading micro/mid cap companies.
To access further details of the event and to register at no cost, please visit:
https://www.abnnewswire.net/lnk/50L95CS4
A recorded copy of the webinar will be made available following the event
About BPH Energy Limited:
BPH Energy Limited (ASX:BPH) is an Australian Securities Exchange listed company developing biomedical research and technologies within Australian Universities and Hospital Institutes.
The company provides early stage funding, project management and commercialisation strategies for a direct collaboration, a spin out company or to secure a license.
BPH provides funding for commercial strategies for proof of concept, research and product development, whilst the institutional partner provides infrastructure and the core scientific expertise.
BPH currently partners with several academic institutions including The Harry Perkins Institute for Medical Research and Swinburne University of Technology (SUT).
Source:
BPH Energy Limited
Contact:
David Breeze
admin@bphenergy.com.au
www.bphenergy.com.au
T: +61 8 9328 8366
News Provided by ABN Newswire via QuoteMedia
Elixir Adds New Taroom Acreage
Elixir Energy Limited (“Elixir” or the “Company”) is pleased to announce that it has been appointed as Preferred Tenderer in relation to a new exploration area in Queensland: PLR2023-1-7 (see map below). The area lies immediately adjacent to the Company’s Project Grandis in the Taroom Trough.
HIGHLIGHTS
- Elixir has been appointed by the Queensland Government as preferred tenderer for PLR2023-1-7
- The licence area is adjacent to Elixir’s Grandis Project and is prospective for both deep and shallow gas
Location map of PLR2023-1-7
PLR2023-1-7 covers 526 square kilometres and although just one licence is divided into 3 separate geographical areas. The North Eastern areas are located in the Taroom Trough and are prospective for the same deep gas plays as encountered in Project Grandis. These new areas cover 152 square kilometres and represent a 14% increase of Elixir’s acreage within the Taroom Trough, which to date has a 2C contingent resource booking of 1,297 Bcf (per ASX announcement of 29 May 2024).
The larger South-Western area, which covers 374 square kilometres is prospective for both shallow and deep gas targets.
Elixir will now proceed to obtain an Environmental Authority (EA) and complete any required native title process before being granted the final Authority to Prospect (ATP). This licence will not be subject to any domestic gas reservation. Elixir will own a 100% working interest in the ATP and will be the Operator.
Technical studies have already begun on all of the areas of the licence to address issues such as the potential addition of contingent and prospective resources, drill target(s) and potential partners once the licence is formally granted.
Elixir’s Managing Director, Mr Neil Young, said: “Naturally we are pleased to be recognized by the Queensland Government as the preferred tenderer for a new licence area which is highly complementary to our existing Grandis Gas Project position. That recognition in part at least acknowledges the good work undertaken by our team since we have entered Queensland two years ago.”
Click here for the full ASX Release
This article includes content from Elixir Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
From Fossil Fuels to Renewables: How the Energy Transition is Transforming the Oil and Gas Industry
The oil and gas sector has long been one of the Earth's largest and most valuable industries, but it's undergoing major changes to compete in the green energy transition and remain profitable.
At last year's COP28 summit, nations signaled a definitive shift away from fossil fuels, marking a potential "beginning of the end" for the era. While ambitious, the reality is more complex. Oil and gas aren't disappearing anytime soon — in fact, the industry is projected to rake in revenue of US$5.3 trillion in 2024, with daily consumption of 103 million barrels.
Indeed, petroleum remains the lifeblood of transportation systems, powering billions of vehicles, while natural gas heats a significant portion of the world's homes. At the same time, the industry's substantial environmental impact — accounting for 15 percent of energy-related emissions on a worldwide scale — cannot be ignored.
As countries balance continued fossil fuel requirements with the urgent need to decarbonize, companies are exploring a range of strategies to modernize oil and gas operations, from tackling methane emissions and eliminating non-emergency flaring, to electrifying upstream facilities with low-emissions electricity, using carbon capture and storage technologies and expanding low-emissions hydrogen use in refineries. Read on to learn more about these efforts.
Reducing CO2 emissions with renewable gasoline
A company offering solutions that fit under this umbrella is Verde Clean Fuels (NASDAQ:VGAS).
The company is focused on creating commercial plants to convert various feedstocks, including biomass and flared natural gas, into gasoline using its proprietary SynGasToGasoline+ (STG+) process.
The Investing News Network (INN) spoke with Ernie Miller, CEO of Verde, about turning waste into fuel and targeting “stranded assets.” He explained that STG+ has two different pathways to production.
One pathway uses natural gas as the feedstock, converting it to synthesis gas via steam methane reforming, and then converting the synthesis gas to methanol and finally gasoline. The other pathway gasifies renewable feedstocks, like biomass or agricultural waste, to produce the synthesis gas, which then follows the same process to gasoline.
In addition to creating “renewable gasoline,” the second pathway has the benefit of generating excess biogenic CO2 that can be sequestered, resulting in a gasoline product with a “deeply negative carbon intensity score." As Miller explained, this means more carbon is put into the ground during production than is emitted when the gasoline is burned.
He clarified that while the gasoline produced using Verde’s process burns the same as any other gasoline, “What's different is that in the process of producing that renewable gasoline, we've put more carbon in the ground than carbon is released when you burn that gasoline. So it’s carbon negative.”
In 2022, the production, transport and processing of oil and gas generated 5.1 billion metric tons of CO2 equivalent. Scope 1 and Scope 2 emissions from oil and gas activities accounted for just under 15 percent of total energy-related greenhouse gas emissions, according to the International Energy Agency.
Mitigating flaring and stranded assets
In addition to reducing emissions associated with the oil and gas production process, the STG+ method can use the natural gas that companies burn off or “flare” during the oil extraction process.
“We've got an awful lot of opportunities here in North America to bring value to low-value natural gas, while at the same time solving a major flaring issue,” said Miller said during the conversation.
By targeting natural gas that would normally lack economic benefit and be flared off, Verde is also creating another revenue stream for companies like Diamondback Energy (NASDAQ:FANG). Using the STG+ process, Diamondback, which operates in the Permian Basin and is a partner of Verde, can now unlock more value from its assets.
Miller said Diamondback is highly regarded for its operations and leadership in methane abatement and flare mitigation. The company excels in adding value to disadvantaged natural gas, particularly in the Permian Basin, where natural gas trades at the Waha hub. Currently, natural gas at Waha trades at negative US$2.45 per MMBtu, meaning producers incur a loss before gathering, compression and processing costs.
"Gas in the Permian Basin today has no value. If you don't have firm transport to a Gulf Coast market, that's what you're going to get — you're effectively going to have to pay somebody to vent your natural gas," he explained, adding, “So we're able to (provide) that economic benefit to a producer … we're able to really kind of swap commodity exposures for something that is very low value or no value to something that's much higher value."
Oil and gas producers also face the issue of stranded assets — properties that are too small or uneconomical to target. This is especially true in regions like West Africa, where there is no market or infrastructure to transport natural gas.
Companies like BP (LSE:BP,NYSE:BP) and Total (NYSE:TTE) have invested heavily in oil production in these areas, but the natural gas produced often has no destination and is flared, causing environmental and economic problems.
Addressing the stranded gas issue globally could benefit all stakeholders, as organizations like the World Bank are increasingly tying funding to the reduction of flaring.
Extracting lithium from oilfield brine
Like Verde, Volt Lithium (TSXV:VLT,OTCQB:VLTLF) is targeting the energy potential within waste streams.
The battery metals-focused company is specifically targeting oilfield brine, a saltwater that is produced during the exploration and extraction of oil and natural gas. It is non-potable water that primarily contains dissolved sodium, calcium, magnesium and chloride. This produced water can also contain lithium.
As Alex Wylie, CEO, president and director, told INN, Volt’s proprietary direct lithium extraction technology consists of three phases. In the first phase, contaminants like organics are removed from the brine. In the second phase, direct lithium extraction occurs using two technologies developed by Volt. They effectively extract 98 to 99 percent of the lithium from the brine. This water, often associated with oil production, is typically considered a waste stream. For every barrel of oil, 4.5 barrels of water are produced, which can be used to extract lithium instead of being disposed of.
The third phase involves concentrating and crystallizing the lithium to produce a battery-grade product. Volt's technology has proven to be capable of delivering a commercially viable lithium product, and the company plans to move into field operations to produce battery-grade metal. “We've demonstrated over the last year that there is a (battery-grade) product that we can develop. And we're at the phase now where we're looking to move into field operations. We're going to be also producing battery-grade metal from the field operations,” said Wylie.
Using desalination to combat the water crisis
Volt's technology could be especially useful in Texas' Permian and Delaware basins.
Wylie went on to note that in the US, 22 million barrels of oilfield brine are produced daily, potentially yielding 350,000 metric tons of lithium annually, enough to meet a third of US lithium demand by 2030.
Aside from reusing a waste stream to extract value, Volt's process could eventually help create water streams for use in processing and manufacturing. Wylie said that on its own, the Permian Basin in Texas generates 19 million barrels (681 million gallons) of water daily, noting that this water needs to be desalinated.
At the same time, Texas consumes large amounts of water. The manufacturing sector uses 900 million gallons daily, while agriculture needs 1.4 billion gallons and power production requires 300 million gallons.
"When people think about desal, I'm not talking about drinking water, I'm talking about other uses," he said. "There is an opportunity here to reuse the water for other purposes, to help with the water crisis of the Southwest US."
Volt’s lithium extraction process creates "very clean water" by removing contaminants using reagents such as sodium hydroxide and hydrochloric acid. “So when we go to desalination, ultimately we've got a clean product to start with, which falls in line with environmental sustainability and reusing that water to the maximum ability,” said Wylie.
“I know there's work to be done on desalination, so I'm not saying that we're doing that today — we're focused on lithium extraction,” he said. “But in the future, we see an opportunity where you could use that water for other purposes.”
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Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Elixir Energy Limited (ASX: EXR) – Trading Halt
Description
The securities of Elixir Energy Limited (‘EXR’) will be placed in trading halt at the request of EXR, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Thursday, 20 June 2024 or when the announcement is released to the market.
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ASX Compliance
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This article includes content from Elixir Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Alvopetro Announces Q2 2024 Dividend of US$0.09 Per Share and Reminder of Upcoming AGM
Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) announces that our Board of Directors has declared a quarterly dividend of US$0.09 per common share, payable in cash on July 15, 2024 to shareholders of record at the close of business on June 28, 2024 . This dividend is designated as an "eligible dividend" for Canadian income tax purposes.
Dividend payments to non-residents of Canada will be subject to withholding taxes at the Canadian statutory rate of 25%. Shareholders may be entitled to a reduced withholding tax rate under a tax treaty between their country of residence and Canada. For further information, see Alvopetro's website at https://alvopetro.com/Dividends-Non-resident-Shareholders .
Annual General Meeting
Alvopetro's annual general and special meeting (the "Meeting") will be held on Tuesday, June 18, 2024 at the Penn West Plaza Conference Centre (Suite 211, 207 9th Avenue SW, Calgary, Alberta ) beginning at 9:30 a.m. Mountain time. All interested parties are invited to attend the Meeting, however only registered shareholders of record at the close of business on April 29, 2024 and duly appointed proxyholders will be entitled to vote at the Meeting.
We will also be broadcasting the meeting via live webcast for the interest of all shareholders. Please be advised that shareholders will not be able to vote any shares through this webcast format. Details for joining the event are as follows:
DATE: June 18, 2024
TIME : 9:30 AM Mountain/ 11:30 AM Eastern
LINK: https://us06web.zoom.us/j/83279531812 https://us06web.zoom.us/j/85643699805
DIAL-IN NUMBERS: https://us06web.zoom.us/u/kdTMTKlxry
WEBINAR ID : 856 4369 9805
Corporate Presentation
Alvopetro's updated corporate presentation is available on our website at:
http://www.alvopetro.com/corporate-presentation .
Social Media
Follow Alvopetro on our social media channels at the following links:
Twitter - https://twitter.com/AlvopetroEnergy
Instagram - https://www.instagram.com/alvopetro/
LinkedIn - https://www.linkedin.com/company/alvopetro-energy-ltd
Alvopetro Energy Ltd.'s vision is to become a leading independent upstream and midstream operator in Brazil . Our strategy is to unlock the on-shore natural gas potential in the state of Bahia in Brazil , building off the development of our Caburé natural gas field and our strategic midstream infrastructure.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
All amounts contained in this new release are in United States dollars, unless otherwise stated and all tabular amounts are in thousands of United States dollars, except as otherwise noted.
Forward-Looking Statements and Cautionary Language. This news release contains "forward-looking information" within the meaning of applicable securities laws. The use of any of the words "will", "expect", "intend" and other similar words or expressions are intended to identify forward-looking information. Forward‐looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the expectations discussed in the forward-looking statements. These forward-looking statements reflect current assumptions and expectations regarding future events. Accordingly, when relying on forward-looking statements to make decisions, Alvopetro cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties. More particularly and without limitation, this news release contains forward-looking information concerning the Company's dividends, plans for dividends in the future, the timing and amount of such dividends and the expected tax treatment thereof. The forward‐looking statements are based on certain key expectations and assumptions made by Alvopetro, including but not limited to expectations and assumptions concerning expectations regarding natural gas demand, the performance of producing wells and reservoirs, well development and operating performance, the outcome of any disputes, the success of future drilling, completion, and testing, equipment availability, the timing of regulatory licenses and approvals, recompletion and development activities, the outlook for commodity markets and ability to access capital markets, the impact of global pandemics and other significant worldwide events, foreign exchange rates, general economic and business conditions, weather and access to drilling locations, the availability and cost of labour and services, Alvopetro's working interest in properties and the outcome of future redeterminations, environmental regulation, including regulation relating to hydraulic fracturing and stimulation, the ability to monetize hydrocarbons discovered, the regulatory and legal environment and other risks associated with oil and gas operations. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Actual results achieved during the forecast period will vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. In addition, the declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors. Although Alvopetro believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Alvopetro can give no assurance that it will prove to be correct. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on factors that could affect the operations or financial results of Alvopetro are included in our annual information form which may be accessed on Alvopetro's SEDAR+ profile at www.sedarplus.ca . The forward-looking information contained in this news release is made as of the date hereof and Alvopetro undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
SOURCE Alvopetro Energy Ltd.
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