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Company Advances Plans for First Canadian Plant Launch; American Green Hydrogen Production Facility Development to Follow Later this Year
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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.
CHARBONE Hydrogen Preps for First Green Hydrogen Production Facility Launch; Receives Offer for Legacy Hydro Project Assets
May 1 2024 TheNews w ire Common Cents Media On April 23, 2024 Charbone Hydrogen Corporation (TSXV: CH; OTCQB: CHHYF; FSE: K47) announced that it has received a signed, non-binding cash offer for the sale of two hydro projects in Vermont and Wisconsin.
The offer remains confidential but specifies that CHARBONE, North America's only publicly traded pure-play green hydrogen company , would sell 100% of its equity interests in the two hydro projects to an undisclosed renewable power producer for a combined valuation of US$725,000.
"The sale of these assets will provide the Company with additional, non-dilutive resources to help advance this year's green hydrogen plant development portfolio, while also evaluating other opportunities to add further projects to an already active development roadmap," said Dave Gagnon, CEO of Charbone Hydrogen.
Charbone Hydrogen is focused on delivering a near-term network of modular green hydrogen production facilities across North America. The Company has established a decentralized, energy opportunistic approach to green hydrogen production using grid-connected renewable energy sources to produce green (H2) dihydrogen molecules and eco-friendly energy solutions for industrial, institutional, commercial and future mobility users.
Located near Montreal, Quebec, its Sorel-Tracy Green Hydrogen Project will serve as the Company's flagship facility, giving CHARBONE a first-mover advantage with production starting in the second half of 2024. Additionally, a second green hydrogen production project in the Detroit, Michigan area is scheduled to be operational later in the year. In total, CHARBONE plans to build and deliver 16 green hydrogen production facilities across North America by 2030.
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Charbone Hydrogen's growth strategy is further outlined here .
CHARBONES's unique approach to modular green hydrogen plant development is based on the group's collective expertise in developing alternative energy solutions that align with municipal, state and federal agency goals to leverage renewable energy sources for a sustainable future. Site readiness, highway proximity, program scalability, accessibility to reliable and non-intermittent renewable energy resources, and project support from local utilities are all considered in the site selection process.
Investor interest is also growing, as the global push for sustainable energy solutions has propelled the green hydrogen market into the investor spotlight. With projections from industry analysts such as Precedence Research indicating that the green hydrogen market will reach $89.2 billion by 2030, green hydrogen market is seeing a surge in interest and investment. Public and policymaker support for the green hydrogen industry is growing, yet the technologies and production facilities that produce green hydrogen are still in relatively early stages of growth.
"CHARBONE's green hydrogen production strategy is in sync with policymakers' desires to replace gray hydrogen with a clean, reliable, renewable alternative to hydrogen produced from fossil fuels," Gagnon added.
Click Image To View Full Size
Canadian and US policymakers continue to introduce and prioritize environmental initiatives that promote and incentivize renewable energy consumption, carbon pricing, and the development of renewable technologies. The Canadian Government announced its CHITC (Clean Hydrogen Investment Tax Credit) that should see CHARBONE benefit from a refundable tax credit of up to 40%, depending on the carbon intensity of the hydrogen produced. Additionally, the US Government recently announced seven regional clean hydrogen hubs were selected to receive $7 billion in ‘Bipartisan Infrastructure Law' funding to accelerate the domestic market for low-cost, clean hydrogen.
Amidst this North American energy transition, green hydrogen has emerged as both a potentially lucrative investment prospect as well as a versatile clean energy solution - especially with industrial and transport sectors aiming to replace conventional grey hydrogen. With a first-mover advantage, Charbone Hydrogen (TSXV: CH; OTCQB: CHHYF; FSE: K47) remains North America's only publicly traded pure-play green hydrogen company and presents an opportunity for investors to buy into an innovative company that is now just months away from launching production.
Contact:
Common Cents Media Staff
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Charbone Hydrogene Annonce les Resultats Financiers 2023
(TheNewswire)
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Brossard (Québec) TheNewswire - le 30 avril 2024 - CORPORATION CHARBONE HYDROGÈNE (TSXV:CH ) ( OTC: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 les résultats financiers et opérationnels pour l'exercice se terminant le 31 décembre 2023.
Des progrès significatifs continuent de se refléter dans les états financiers de fin d'année 2023. Les mesures visant à renforcer le bilan de la Société et sa concentration à court terme à 100% sur l'avancement de ses projets de production d'hydrogène vert en Amérique du Nord progressent.
FAITS SAILLANTS :
Les dépenses ont diminué de 30% à 2 961 451 $ en 2023 comparativement à 4 207 280 $ en 2022 (recentrage des activités et resserrement des frais généraux et administratifs).
Les revenus ont augmenté de 1 158% pour atteindre 282 724 $ en 2023, contre 22 481 $ en 2022 (générés par l'acquisition de Wolf River le 1 er décembre 2022).
La position de trésorerie nette positive au 31 décembre 2023 de 55 123 $ comparativement à (28 467 $) de dette au 31 décembre 2022 :
Les décaissements de l'entreprise liés aux activités d'exploitation ont stagné et ont diminué à 1 513 910 $ en 2023, comparativement à 3 922 918 $ en 2022.
La Société a clôturé des financements privés pour un produit brut s'élevant à 1 258 297 $ et des unités pour le règlement de dettes de 747 228 $.
La Société a reçu 310 184 $ en avances de la part des principaux dirigeants ; et
La Société a également compensé un montant supplémentaire de 300 000 $ en 2023 grâce à l'entente de financement avec Finexcorp converti le 30 septembre 2023 en débentures convertibles garanties à un prix réputé de 0,10 $.
" La résilience de la direction et la volonté de recentrer les activités commerciales sur la livraison de la production d'hydrogène vert, l'évolutivité de la croissance commerciale et le renforcement de notre bilan placent Charbone en bonne position pour déployer son plan de financement actualisé et réaliser son premier projet à Sorel-Tracy (Québec, Canada) au cours du deuxième semestre de 2024 , a déclaré Benoit Veilleux, Chef de la direction financière et secrétaire corporatif de Charbone. " De plus, un deuxième projet de production d'hydrogène vert dans la région de Détroit, dans le Michigan, devrait être opérationnel plus tard cette année. Au total, Charbone prévoit de construire et de livrer 16 installations de production d'hydrogène vert à travers l'Amérique du Nord d'ici 2030 . "
Click Image To View Full Size
Click Image To View Full Size
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 16 usines de production d'hydrogène vert aux États-Unis et Canada 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 Hydrogene Annonce les Resultats Financiers 2023
(TheNewswire)
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Brossard (Québec) TheNewswire - le 30 avril 2024 - CORPORATION CHARBONE HYDROGÈNE (TSXV:CH ) ( OTC: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 les résultats financiers et opérationnels pour l'exercice se terminant le 31 décembre 2023.
Des progrès significatifs continuent de se refléter dans les états financiers de fin d'année 2023. Les mesures visant à renforcer le bilan de la Société et sa concentration à court terme à 100% sur l'avancement de ses projets de production d'hydrogène vert en Amérique du Nord progressent.
FAITS SAILLANTS :
Les dépenses ont diminué de 30% à 2 961 451 $ en 2023 comparativement à 4 207 280 $ en 2022 (recentrage des activités et resserrement des frais généraux et administratifs).
Les revenus ont augmenté de 1 158% pour atteindre 282 724 $ en 2023, contre 22 481 $ en 2022 (générés par l'acquisition de Wolf River le 1 er décembre 2022).
La position de trésorerie nette positive au 31 décembre 2023 de 55 123 $ comparativement à (28 467 $) de dette au 31 décembre 2022 :
Les décaissements de l'entreprise liés aux activités d'exploitation ont stagné et ont diminué à 1 513 910 $ en 2023, comparativement à 3 922 918 $ en 2022.
La Société a clôturé des financements privés pour un produit brut s'élevant à 1 258 297 $ et des unités pour le règlement de dettes de 747 228 $.
La Société a reçu 310 184 $ en avances de la part des principaux dirigeants ; et
La Société a également compensé un montant supplémentaire de 300 000 $ en 2023 grâce à l'entente de financement avec Finexcorp converti le 30 septembre 2023 en débentures convertibles garanties à un prix réputé de 0,10 $.
" La résilience de la direction et la volonté de recentrer les activités commerciales sur la livraison de la production d'hydrogène vert, l'évolutivité de la croissance commerciale et le renforcement de notre bilan placent Charbone en bonne position pour déployer son plan de financement actualisé et réaliser son premier projet à Sorel-Tracy (Québec, Canada) au cours du deuxième semestre de 2024 , a déclaré Benoit Veilleux, Chef de la direction financière et secrétaire corporatif de Charbone. " De plus, un deuxième projet de production d'hydrogène vert dans la région de Détroit, dans le Michigan, devrait être opérationnel plus tard cette année. Au total, Charbone prévoit de construire et de livrer 16 installations de production d'hydrogène vert à travers l'Amérique du Nord d'ici 2030 . "
Click Image To View Full Size
Click Image To View Full Size
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 16 usines de production d'hydrogène vert aux États-Unis et Canada 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 2023 Financial Results
(TheNewswire)
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Brossard, Quebec TheNewswire - APRIL 30, 2024 Charbone Hydrogen Corporation (TSXV:CH ) ; ( OTC:CHHYF ) ; ( FSE:K47) (the "Company" or "CHARBONE"), North America's only publicly traded pure-play green hydrogen company, is pleased to announce the financial and operating results for the year ending December 31, 2023.
Significant progress continues to be reflected in 2023 year-end financials, as steps to strengthen the Company's balance sheet and its 100% near-term focus on advancing North American green hydrogen production projects advance.
HIGHLIGHTS:
Spending decreased 30% to $2,961,451 in 2023 compared to $4,207,280 in 2022 (activities refocus and tightening of general and administrative expenses).
Revenue increased 1,158% to $282,724 in 2023 compared to $22,481 in 2022 (generated from the Wolf River acquisition on December 1, 2022).
Positive net cash position on December 31, 2023 of $55,123 compared to ($28,467) debt at December 31, 2022:
Company disbursements from operating activities reigned in and down to $1,513,910 in 2023 compared to $3,922,918 in 2022;
The Company has closed private financings for gross proceeds amounting to $1,258,297 and Units for debt settlement of $747,228;
The Company received $310,184 in advances from key management personnel; and
The Company also netted an additional $300,000 in 2023 from Finexcorp financing agreement converted on September 30, 2023, to secured convertible debentures at a deemed price of $0.10.
" Management's resilience and drive to refocus business activities on green hydrogen production delivery, commercial growth scalability and strengthening our balance sheet have Charbone well-positioned to deploy its updated financing plan and complete its first project at Sorel-Tracy (Quebec, Canada) in the second half of 2024," said Benoit Veilleux, Chief Financial Officer and Corporate Secretary of Charbone . "Additionally, a second green hydrogen production project in the Detroit, Michigan area is scheduled to be operational later this year. In total, CHARBONE plans to build and deliver 16 green hydrogen production facilities across North America by 2030."
Click Image To View Full Size
Click Image To View Full Size
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 les Resultats Financiers 2023
(TheNewswire)
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Brossard (Québec) TheNewswire - le 30 avril 2024 - CORPORATION CHARBONE HYDROGÈNE (TSXV:CH ) ( OTC: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 les résultats financiers et opérationnels pour l'exercice se terminant le 31 décembre 2023.
Des progrès significatifs continuent de se refléter dans les états financiers de fin d'année 2023. Les mesures visant à renforcer le bilan de la Société et sa concentration à court terme à 100% sur l'avancement de ses projets de production d'hydrogène vert en Amérique du Nord progressent.
FAITS SAILLANTS :
Les dépenses ont diminué de 30% à 2 961 451 $ en 2023 comparativement à 4 207 280 $ en 2022 (recentrage des activités et resserrement des frais généraux et administratifs).
Les revenus ont augmenté de 1 158% pour atteindre 282 724 $ en 2023, contre 22 481 $ en 2022 (générés par l'acquisition de Wolf River le 1 er décembre 2022).
La position de trésorerie nette positive au 31 décembre 2023 de 55 123 $ comparativement à (28 467 $) de dette au 31 décembre 2022 :
Les décaissements de l'entreprise liés aux activités d'exploitation ont stagné et ont diminué à 1 513 910 $ en 2023, comparativement à 3 922 918 $ en 2022.
La Société a clôturé des financements privés pour un produit brut s'élevant à 1 258 297 $ et des unités pour le règlement de dettes de 747 228 $.
La Société a reçu 310 184 $ en avances de la part des principaux dirigeants ; et
La Société a également compensé un montant supplémentaire de 300 000 $ en 2023 grâce à l'entente de financement avec Finexcorp converti le 30 septembre 2023 en débentures convertibles garanties à un prix réputé de 0,10 $.
" La résilience de la direction et la volonté de recentrer les activités commerciales sur la livraison de la production d'hydrogène vert, l'évolutivité de la croissance commerciale et le renforcement de notre bilan placent Charbone en bonne position pour déployer son plan de financement actualisé et réaliser son premier projet à Sorel-Tracy (Québec, Canada) au cours du deuxième semestre de 2024 , a déclaré Benoit Veilleux, Chef de la direction financière et secrétaire corporatif de Charbone. " De plus, un deuxième projet de production d'hydrogène vert dans la région de Détroit, dans le Michigan, devrait être opérationnel plus tard cette année. Au total, Charbone prévoit de construire et de livrer 16 installations de production d'hydrogène vert à travers l'Amérique du Nord d'ici 2030 . "
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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 16 usines de production d'hydrogène vert aux États-Unis et Canada 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 |
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Quarterly Activities Report for the Period Ended 31 March 2024
HIGHLIGHTS
- Daydream-2 successfully flowed from the Lorelle Sandstone without stimulation
- Very material increase in prospective resources in deep coals
- Analysis undertaken post end of quarter indicates the Lorelle alone could produce a commercial flow rate
- Daydream-2 program remains fully funded with current cash equivalent held of $11.9M
MANGAGING DIRECTOR’S REPORT TO SHAREHOLDERS FOR THE QUARTER
Following the drilling of the Daydream-2 well at the end of the December quarter, the March quarter has been one of intense analysis and preparation for the next phase of the Grandis appraisal program.
Just after the end of the quarter, that phase kicked off with the successful flowing of gas from the Lorelle Sandstone at ~4,200 metres – critically, without stimulation, which is a first for the Taroom Trough.1
This activity is occurring at a time of now widespread recognition that the East Coast Australian gas market faces imminent supply shortfalls, prices are high and expected to stay high, and growing international geo-political tensions put a premium on LNG supplies from stable countries like Australia.
Daydream-2 Lease during 2nd flow period of Lorelle Sandstone
The drilling of the Daydream-2 well late in 2023 finished up with a unexpected but very pleasant surprise – gas free flowing from a formation at a depth of 4,200 metres (called the Lorelle sandstone) – something not encountered in the Taroom Trough before.
The primary targets of Daydream-2 are tight gas and coal formations that require stimulation to flow – a free-flowing zone adds a lot to these in terms of economics (lower costs, possibly lower decline rates, energy in the well-bore, etc).
In January we undertook laboratory analysis of samples obtained from the sands captured at the wellsite from the Lorelle sandstone. This work identified clay rims on the sands that preserved porosity in this highly pressured deep zone. These results are analogous with the high productivity deep Permian section of the Perth Basin which has been a source of enormous success in recent years.2
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.
Oil and Gas Price Update: Q1 2024 in Review
Additionally, Russia also committed to a voluntary production cut of 471 thousand barrels per day for the second quarter of 2024, alongside reductions in exports.
OPEC’s decision to curb output in the name of stability was a factor Eric Nuttall partner and senior portfolio manager at Ninepoint Partners pointed to as a Q1 catalyst.
“Oil volatility has actually fallen,” said Nuttall during an April 5 interview. “You wouldn't know it necessarily when looking at the oil price, but volatility is low. I think you can attribute that to the OPEC cut, that was one of the biggest goals of OPEC’s intervention into the market was to reduce volatility.”
As Nuttall explained, the effort to minimize volatility was successful and helped keep the benchmarks between US$70 – US$87 per barrel throughout the 90-day session.
Oil market update: Rebounding prices
Chart via TradingEconomics
After reaching a 2023 high of US$93.10 (Brent) on September 11, prices spent the remainder of the year sliding until bottoming at US$75.80 on December 4.
WTI followed a similar trajectory displaying slightly more volatility, reaching a yearly high of US$91.43 in late September, then slipping to US$68.71 in early December.
Chart via TradingEconomics
The subsequent upswing in prices can be attributed to several factors, according to Nuttall, Firstly, values are rebounding from a period of low activity, driven by unfounded concerns about weak demand and exaggerated fears of increased US shale production.
Secondly, OPEC's production cuts which played a significant role in reducing oil inventories.
He explained that typically, demand is weakest at the beginning of the year, but this time, inventories have only seen a minimal increase compared to the substantial buildup last year. This underscores the effectiveness of OPEC's cuts in counteracting the impact of strategic petroleum reserve releases and stabilizing oil prices.
“Lastly, we do have a geopolitical risk premium and the oil price now, I'm guessing US$5 a barrel,” said Nuttall.
He continued: “We haven't had a risk premium in quite a while. But what we're seeing in the Middle East, what we're seeing [with] Russia, Ukraine, it just fast forwarded where I thought we were going to be, I thought we'd be at US$90bbl in the summertime, we’re there a few months earlier than I thought.”
Oil market update: Strategic reserves
At the end of January oil prices dipped below US$77bbl (Brent) following a rally that took futures into overbought territory. Despite military tensions escalating in the Middle East, abundant supplies contributed to the decline, with OPEC+ exports exerting additional pressure on prices.
Prices began to recover in early February, breaking through the US$80bbl level on February 5, and remaining above the threshold for the remainder of the quarter.
On February 26, The US Department of Energy released a solicitationto purchase up to 30 million barrels of crude oil for the Strategic Petroleum Reserve (SPR), aimed at enhancing the nation's energy security.
In 2022 the Biden administration withdrew 32.3 million barrels from the SPR for domestic consumption.
“Analysis from the Department of the Treasury indicates that SPR releases in 2022, along with coordinated releases from international partners, reduced gasoline prices by as much as 40 cents per gallon,” the government announcementnoted.
Less than a week later the administration scrapped a purchase that would have added 3 million barrels back to the SPR, citing high prices.
While Ninepoint’s Nuttall doesn’t think SPR restocking will impact broader oil prices, he was surprised by the government’s decision to restock.
“The biggest threat to his re-election is inflation. And the biggest input to inflation is energy pricing, specifically oil and gasoline,” said Nuttall. “So, it was counterintuitive to me, and I think it was purely for political theater, that he started to refill it.”
By the end of March prices had breached US$85bbl and closed the three-month period above US90bbl.
Oil market update: Long term bullishness
In a special report from FocusEconomics, panelists are forecasting a 10 percent decline in spot prices for Brent and WTI crude oil over the next decade compared to 2023 levels.
However, prices are anticipated to remain historically high in the near term due to increased demand from China and India.
The consensusamong the FocusEconomics panelist is for Brent crude oil prices to
average around US$85 per barrel for the remainder of the year.
Nuttall is taking a more bullish stance, supported by an increase in demand while global inventories are already at multi-year lows.
Using the Days of Supply metric, a calculation that estimates how many days current inventory levels will last, based on the current consumption rate, Nuttall expects inventories to reach the “lowest level in history later this year.”
“That's very supportive of a high price,” he said.
Similar to FocusEconomics’ analysis, Nuttall sees oil prices remaining in the US$90bbl range.
He noted that geopolitical events have accelerated the approach to this price target, and the subsequent trajectory of prices will depend on when Saudi Arabia decides to return barrels, the pace of that return, and developments in the Middle East and Russia.
While there are uncertainties, such as potential infrastructure damage and the impact on oil flow, factors like stronger US demand, better-than-expected European performance, and solid demand from India contribute to his bullish outlook.
“But we're not calling for US$150 oil, we just don't think that's reasonable right now.”
Gas market update: Q1 2024 in review
While oil prices remained relatively stable throughout Q1 2024, gas prices sank to multi decade lows, hitting US$1.55 per Metric Million British Thermal Unit (MMBtu).
The decline was attributed to a warmer than expected winter in the Northern Hemisphere and ample supply.
Chart via TradingEconomics
“Higher LNG production (up by 3 percent y-o-y), together with stronger piped gas deliveries to Europe and China, further eased supply fundamentals and supported demand growth,” the International Energy Agency’s (IEA) latest gas report stated.
The market overview also noted that global demand was up 2 percent for the quarter but was more than offset by the production uptick.
Gas market forecast: Geopolitical fragility
Looking forward prices are expected to remain well below the highs set in 2022 when values neared US$10MMBtu, propelled by market uncertainty brought on by Russia’s invasion of Ukraine and fears around supply security.
After a steep decline in late 2022, prices have remained below US$5MMBtu throughout 2023. Although concerns about the Panama Canal and Red Sea disruptions led to speculation about a geopolitical premium, the uptick has yet to materialize in the gas market.
For the remainder of the year, FocusEconomics panelists expect natural gas prices to decrease in Asia and Europe compared to 2023 averages, while remaining steady in the US, staying below the pre-pandemic 10-year average.
Prices could see declines brought on by an abundance in gas inventories in all regions, attributed to mild weather conditions from the El Niño pattern and subdued industrial activity.
Europe will continue to be the region to watch as ongoing sanctions on Russian gas, conflict in Ukraine and supply security trends could add tailwinds to prices.
“The structural deficit in European natural gas has yet to be fully resolved with increased LNG supply not yet fully making up for lost Russian imports. Thus, European gas prices remain vulnerable to supply interruptions or increases in demand,” a Goldman Sachs (NYSE:GS) analyst said. “This is especially the case during winter, when weather-dependent heating comprises the bulk of demand and bouts of cold weather can lead to rapidly falling stocks and higher prices.”
Moving into 2025, increased US LNG export capacity could facilitate a price convergence among regions by the end of the year.
“In 2025, US natural gas prices are expected to surpass the pre-pandemic average, with Europe seeing a slight increase and Asia maintaining stability,” FocusEconomics Natural Gas Market Outlook read.” The absence of El Niño is predicted to boost heating demand, while industrial output growth will drive up consumption.”
Don’t forget to follow us @INN_Resource for real-time updates!
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.
Daydream-2 Operations Update
HIGHLIGHTS
- Lorelle Sandstone successfully stimulated and cleaned up
- Computer models based on the data acquired during testing indicates the Lorelle Sandstone alone could produce a commercial flow rate1
- Contractor scheduling and other operational issues have led to a small delay in the rest of the program
Following the recent successful free-flowing test on the Lorelle Sandstone, Elixir advises that this key formation has now been successfully stimulated. The zone was flowed back overnight to clean out the stage, and again flowed gas to surface with slugs of proppant debris and stimulation fluid as expected.
Gas flow from Stage 1 Lorelle Sandstone post stimulation
Data acquired during the Lorelle Sandstone flow periods has been used to predict the initial gas flow rate and ultimate recovery for each well from this lowermost zone. Elixir’s technical and economic modelling1 indicates the Lorelle Sandstone alone could produce a commercial flow rate of gas, with the breakeven commercial initial flowrate being estimated at 2.5 million cubic feet per day1.
This commerciality threshold is strongly underpinned by the location of the Grandis Project only a few tens of kilometres from: gas pipeline infrastructure connecting to domestic and international gas markets; existing and proposed local gas-fired power stations; a commercial gas hub into which spot sales can be made at high gas prices; etc. Accordingly, plans for a staged development are already underway, including engaging with gas offtakers with interests in the region.
Since the stimulation and flow-back of the Lorelle Sandstone, Elixir has sustained a number of logistical and other operational delays. After successfully isolating the Lorelle Sandstone with a bridge plug to proceed with the next stimulation stage, the setting mechanism became lodged in the hole requiring remedial activity. This delay has resulted in the full stimulation program not being able to be completed before the hard deadline for certain equipment to leave the site to meet commitments with another operator.
Stimulation equipment on location at Daydream-2
Accordingly, Elixir has demobilized at Daydream-2 and will re-commence the stimulation program in a month or so. This will ensure that the program can be executed as planned and there are no negatives for the ultimate program except for this time delay. Negotiations with the relevant sub- contractors are in hand and a more precise timetable is expected to be finalized shortly.
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.
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