Charbone Hydrogen Finalizes Arrangements with City of Sorel-Tracy to Kick off Green Hydrogen Project Build in Quebec

Charbone Hydrogen Finalizes Arrangements with City of Sorel-Tracy to Kick off Green Hydrogen Project Build in Quebec

(TheNewswire)

Charbone Hydrogen Corporation

Brossard, Quebec, February 20, 2024 Charbone Hydrogen Corporation (TSXV:CH ) ( OTC:CHHYF ) ( FWB:K47) (the " Company " or " Charbone "), North America's only publicly traded pure-play green hydrogen company, is pleased to announce that the City of Sorel-Tracy and Charbone Hydrogen Québec Inc, a wholly owned subsidiary of Charbone, have finalized all arrangements to move forward on next steps towards site construction of the area's first green hydrogen facility on land along Highway 30's "Steel Highway".

Phase 1 development of the Sorel-Tracy green hydrogen plant, with capacity to produce approximately 200 kg per day, is expected to begin in the coming weeks. As previously announced, Charbone has tapped renewable energy construction leader EBC Inc. to lead project delivery, and all major components and equipment for the facility are reported as being ready for site delivery. The start-up of the plant and production of the first kilogram of green hydrogen will mark an important achievement for Charbone as the Company executes on its ‘design and build' vision to develop a North American network of modular and scalable green hydrogen facilities.

The Sorel-Tracy Green Hydrogen Project will serve as the Company's flagship facility, giving Charbone a first-mover advantage with production starting this year. The facility is targeting industrial uses and replacing gray hydrogen with a clean, non-toxic, renewable alternative to fossil fuels. Already, aligned with decarbonization policies of the Government of Quebec, the plant will create up to 30 jobs when all 5 phases are completed.

"Since Day 1, the Sorel-Tracy Green Hydrogen Project has been considered the Charbone ‘flagship' to not only demonstrate our capacity to produce green hydrogen, but also to showcase our vision of developing a modular network of green hydrogen production facilities that strategically reduce current transport costs and delivery challenges associated with delivering hydrogen directly to customers," said Dave B. Gagnon, Chairman and CEO of Charbone . "Charbone thanks Mayor Patrick Péloquin and his entire team for their extraordinary collaboration and will work hard for the success of the project in Sorel-Tracy to meet the expectations of stakeholders.".

The Charbone team has worked diligently for years to refine our technology and proprietary processes with the goal of delivering more than 16 scalable, turnkey green hydrogen production facilities by 2030 in strategic corridors across North America coast to coast.

Charbone has an offtake agreement with Superior Plus in place to leverage the distribution network, this includes all Charbone green hydrogen production for Quebec and Manitoba.

The land lease which has a duration of more than 26 years, also includes a community component, in which Charbone has committed to paying the City, a royalty on each kilogram produced and sold by this production facility, paid annually. The City of Sorel-Tracy may use this payment as it wishes for projects that it deems appropriate.


Click Image To View Full Size

On the picture, from left to right : Daniel Charette, Charbone COO, Dave Gagnon, Charbone CEO,

Mr. Patrick Péloquin, Sorel-Tracy Mayor and Mr. Carlo Fleury, Sorel-Tracy General Manager

About Charbone Hydrogen Corporation

Established in North America, Charbone is an integrated green hydrogen group focused on delivering technological solutions for the production and distribution of green hydrogen, produced from clean and renewable energies. The Company's strategy is to develop modular and expandable hydrogen facilities and regional hubs producing green dihydrogen molecules using reliable and sustainable energy and rapidly become the leading supplier of ecological solutions 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; 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

Charbone Hydrogen Corporation

Telephone:

+1 450 678-7171

Email:

dg@charbone.com

Daniel Charette

Chief Operating Officer

Charbone Hydrogen Corporation

Telephone:

+1 450 678-7171

Email:

dc@charbone.com

Benoit Veilleux

Chief Financial Officer and Corporate Secretary

Charbone Hydrogen Corporation

Telephone:

+1 450 678-7171

Email:

bv@charbone.com

Copyright (c) 2024 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

CH:CC
Charbone Hydrogen

Charbone Hydrogen Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Charbone Hydrogen

Charbone Hydrogen


Keep reading...Show less
Charbone Hydrogen Announces Site Selection for First US Based Green Hydrogen Production Facility Entering Final Stages

Charbone Hydrogen Announces Site Selection for First US Based Green Hydrogen Production Facility Entering Final Stages

(TheNewswire)

Charbone Hydrogen Corporation

Brossard, Quebec TheNewswire - March 26, 2024 Charbone Hydrogen Corporation (TSXV: CH;OTCQB: CHHYF; FWB: K47) (the "Company" or "CHARBONE"), North America's only publicly traded pure-play green hydrogen company, today announced it is entering into the final stages of the site selection process in Oakland County, Michigan for CHARBONE's first green hydrogen facility in the United States. Further to the Company's December 4, 2023 project announcement Oakland County is the home of dozens of major automotive companies including numerous world headquarters, North American headquarters, and R&D facilities.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Elixir Energy

Daydream-2 Stimulation Program Underway

Elixir Energy Limited (“Elixir” or the “Company”) is pleased to provide an operations update on its 100% owned Grandis project located adjacent to the Wallumbilla gas hub in Queensland.

Keep reading...Show less
Oil rig with stock charts overlayed.

ASX Oil and Gas Stocks: 5 Biggest Companies in 2024

Experts are calling for continued price volatility in the global oil and gas market in 2024.

Thanks to factors including Saudi Arabia's voluntary oil production cuts and a drop in US commercial crude oil inventories, Brent crude prices rose to an average of US$94 per barrel this past September. However, concerns over worldwide oil demand growth and rising global inventories pushed prices down to US$78 in December. Heading into the second quarter of 2024, oil prices are riding an uptrend spurred on by rising tensions in the Middle East amid tightening supplies.

Oil prices may be surging, but natural gas prices have been on a sharp decline since November. This shift is particularly evident in mature markets, such as the Asia Pacific region, Europe and North America, which are experiencing reductions in gas demand as they sought alternatives like renewables and pursued improved energy efficiency.

Keep reading...Show less
Rework of a Pre-Existing Oil Well in Southwest Kansas

Rework of a Pre-Existing Oil Well in Southwest Kansas

VVC Exploration Corporation, dba VVC Resources, ("VVC") or (the "Company"), (TSX-V:VVC and OTCQC:VVCVF) announces the rework of a pre-existing oil well in southwest Kansas as a test for oil production in the region.

Initiation of Ardery Oil Well Rework
Building on its experience in natural resource management, especially recent work in Kansas, VVC has leveraged its subsurface mineral rights to examine the feasibility of oil production in an area where the Company is already involved in helium and natural gas production. Through geological due diligence, VVC has confirmed the potential for oil production within the area. This confirmation aligns with historic data indicating over 12 million barrels of oil production directly north of Ardery well site.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Source Rock Royalties

Source Rock Royalties


Keep reading...Show less
Oil barrel and stock chart overlayed on map.

Is Now a Good Time to Invest in Oil Stocks?

Investing in oil stocks can be a lucrative endeavor, but determining the right time to enter a sector known for volatile swings can be tricky.

Over the past five years, the oil market’s inherent volatility has been on clear display. Major declines in consumption brought on by the COVID-19 lockdowns was followed by oil prices surging to US$120 per barrel in mid-2022, as the world economy began to recover and Russia’s invasion of Ukraine led to the consequent sanctions on Russian oil.

However, in the first half of 2023, fears of a global recession gave rise to bearish sentiment over much of the oil sector and pushed prices as low as US$67 during the period. Despite a spike above the US$91 level in Q3, oil prices trended downward in Q4 to dip below the US$70 mark even with conflict escalating in the Middle East.

Keep reading...Show less
Charbone Hydrogen

Charbone Hydrogen Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×