Charbone Hydrogen Provides Corporate Update on Strategic Priorities

Charbone Hydrogen Provides Corporate Update on Strategic Priorities

 

(TheNewswire)

 
     
  Charbone Hydrogen Corporation 
          
 

Charbone Hydrogen Corporation (TSXV:CH ) ( OTC:CHHYF ) ( FWB:K47) (the " Company " or " Charbone "), North America's only publicly traded pure-play green hydrogen company, today provided a company update, including significant progress being made with operating expenses and cash burn rate reductions over the last year, steps to strengthen its balance sheet and reconfirmation of its 100% near-term focus on advancing green hydrogen production and deploying a network of modular and scalable production facilities throughout hydrogen-dependent industrial areas across North America

 

  "We have been taking important and deliberate steps toward creating long-term shareholder value through a series of successful recapitalization efforts and focusing business activities on green hydrogen production delivery, commercial growth scalability and strengthening our balance sheet," said Dave B. Gagnon, Chairman and CEO of Charbone. "We have completed two recent financings for $500K and $850K and expect that our cost reduction efforts will continue to result in a significant decrease in our monthly cash burn-rate, down to approximately $150,000 vs. the $450,000 as seen in previous periods."  

 

  Burn-Rate and Payables Reductions  

 

  Charbone has implemented a range of significant cost-cutting actions designed to sharpen its capital structure through significant payables and monthly burn-rate reduction, while maintaining a healthy balance sheet and strengthening liquidity.  

 
  •  

      The Company has right-sized its monthly burn rate from c. $450,000 per month to c. $150,000$ as per the latest financials dated September 30, 2023.  

     
  •  
  •  

      As of September 30, 2023, Charbone had 2,800,000$ in trade payables, and as part of its ongoing plan to recapitalize its balance sheet and clean its payables as well as its debt the following was completed:  

     
    •  

        $479,162 of third-party payables settled via the issuance of 4,791,619 Units Shares were confirmed as per the press release dated November 9, 2023;  

       
    •  
    •  

        $195,000 of management, including Chief Executive Officer, remuneration debts were settled via the issuance of 1,950,000 Units Shares as per the press release dated November 17, 2023; and  

       
    •  
    •  

        $88,066 of third-party payables were settled via the issuance of 880,660 Units Shares as per the press release dated December 7, 2023.  

       
    •  
  •  

  Recapitalization Efforts  

 

  Additionally, the Company has recapitalized its balance sheet via the following two financings:  

 
  •  

      Equity raise $499,877 via issuance of 9,997,540 Units Shares closed in two tranches on December 6 and December 15, 2023 as at $0.05 per Unit; and  

     
  •  
  •  

      Equity raise of $849,622 closed on February 1, 2024 via the issuance of 16,992,440 Units Shares as at $0.05per Unit.  

     
  •  

  Advancing Green Hydrogen Production Efforts  

 

  The Charbone team has worked diligently to refine its technology and proprietary processes with the goal of delivering a network of 16 modular and scalable green hydrogen production facilities in strategic areas across North America by 2030. Development of Charbone's flagship green hydrogen facility, located in the City of Sorel-Tracy, Quebec along Highway 30's "Steel Highway," is set to come online in mid-2024.  Production will follow a phased approach, gradually accelerating to produce approximately 200 kg per day once reaching initial full capacity. In the US, plant development will begin with the recently announced project in the Detroit, Michigan area.  

 

  "The decisions made to improve operational efficiencies have provided us with a clear path toward achieving several important milestones throughout the course of 2024," Gagnon continued. "I want to thank our shareholders and business partners for their support as we push forward with an exciting green hydrogen production agenda in the months ahead."  

 

  About Charbone Hydrogen Corporation  

 

  Charbone is an integrated green hydrogen group focused on delivering a North American network of production facilities and technological solutions for the creation and distribution of green hydrogen produced from clean and renewable energies. Providing eco-friendly energy solutions for industrial, institutional, commercial and future mobility users, the Company's strategy is to develop modular and expandable hydrogen facilities producing green and low carbon intensity dihydrogen molecules, with the goal of scaling to deliver 16 modular and scalable green hydrogen production facilities in strategic areas across North America by 2030.  

 

  As   North America's only publicly traded pure-play green hydrogen company,   Charbone's common shares are active on the TSX Venture Exchange (TSXV: CH); the OTC Markets (OTCQB: CHHYF); and the Frankfurt Stock Exchange   (FWB: K47).  

 

  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  

 
  
 

  Office phone:  

 
 

  +1 450 678-7171  

 
   
 

  Cell phone:  

 
 

  +1 450 524-0067  

 
   
 

  Email:  

 
 

   dg@charbone.com   

 
   
     
 

  Daniel Charette  

 
  
 

  Chief Operating Officer  

 
  
 

  Charbone Hydrogen Corporation  

 
  
 

  Office phone:  

 
 

  +1 450 678-7171  

 
   
 

  Cell phone:  

 
 

  +1 514 980-5841  

 
   
 

  Email:  

 
 

   dc@charbone.com   

 
   
     
 

  Benoit Veilleux  

 
  
 

  Chief Financial Officer and Corporate Secretary  

 
  
 

  Charbone Hydrogen Corporation  

 
  
 

  Office phone:  

 
 

  +1 450 678-7171  

 
   
 

  Cell phone:  

 
 

  +1 438 508-1718  

 
   
 

  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 (TSXV:CH)

Charbone Hydrogen


Keep reading...Show less

The only publicly listed green hydrogen player in Canada.

Charbone Hydrogene signe une entente-cadre de collaboration et percevra 1M de dollars americains afin de soutenir le deploiement d'un projet de developpement d'hydrogene vert en Malaisie pour un partenaire local

Charbone Hydrogene signe une entente-cadre de collaboration et percevra 1M de dollars americains afin de soutenir le deploiement d'un projet de developpement d'hydrogene vert en Malaisie pour un partenaire local

 

(TheNewswire)

 
     
  Charbone Hydrogen Corporation 
          
 

  L'équipe Charbone servira de conseiller expert auprès d'un groupe financier privé malaisien pour le développement et la construction de leur première usine de production modulaire et évolutive dans la région Asie-Pacifique.  

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
CHARBONE Hydrogen Executed a Master Collaborative Agreement to Receive 1M USD to Support the Deployment of a Malaysian Green Hydrogen Project Development for a Local Partner

CHARBONE Hydrogen Executed a Master Collaborative Agreement to Receive 1M USD to Support the Deployment of a Malaysian Green Hydrogen Project Development for a Local Partner

 

(TheNewswire)

 
     
  Charbone Hydrogen Corporation 
          
 

  The CHARBONE team will serve as expert matter advisors to a private Malaysian financial group for the development and construction of their first modular and scalable production facility in the Asia-Pacific region.  

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
US Capital Global Facilitates $50MM Financing to Accelerate Charbone Hydrogen's North American Expansion

US Capital Global Facilitates $50MM Financing to Accelerate Charbone Hydrogen's North American Expansion

 

US Capital Global Securities LLC, the SEC-registered broker-dealer division of the global private financial group US Capital Global is pleased to announce that it has acted as lead advisor and facilitator on a project finance facility of up to $50 million for Charbone Hydrogen Corporation (TSXV: CH; OTCQB: CHHYF; FSE: K47) ("Charbone"). The financing is being provided by a private fund managed by True Green Capital Management LLC ("TGC").

 

Headquartered in Montreal, Charbone is a rare publicly traded pure-play hydrogen company focused exclusively on the production and distribution of green hydrogen in North America. The company is developing modular production facilities targeting 99.999% purity (Grade 5.0) hydrogen, with all output pre-sold through tier-one offtake agreements.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Charbone Hydrogene a execute un financement de 50 millions USD pour accelerer son expansion en hydrogene en Amerique du Nord, facilite par US Capital Global

Charbone Hydrogene a execute un financement de 50 millions USD pour accelerer son expansion en hydrogene en Amerique du Nord, facilite par US Capital Global

 

(TheNewswire)

 
     
  Charbone Hydrogen Corporation 
          
 

  Un groupe financier privé mondial dont le siège social est à San Francisco conseille sur la facilité de construction pour soutenir l'expansion des usines modulaires d'hydrogène vert de Charbone en Amérique du Nord.  

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
CHARBONE Hydrogen Executed a USD 50MM Financing to Accelerate its Hydrogen's North American Expansion Facilitated by US Capital Global

CHARBONE Hydrogen Executed a USD 50MM Financing to Accelerate its Hydrogen's North American Expansion Facilitated by US Capital Global

 

(TheNewswire)

 
     
  Charbone Hydrogen Corporation 
          
 

  Global private financial group headquartered in San Francisco advises on construction facility to support CHARBONE's expansion of modular green hydrogen facilities in North America.  

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
BTV Highlights: North American Iron, West Red Lake Gold Mines, Northisle Copper and Gold, Westport Fuels, US Gold, Orvana Minerals, Avino Silver & Gold, Pasofino Gold, & Mayfair Gold

BTV Highlights: North American Iron, West Red Lake Gold Mines, Northisle Copper and Gold, Westport Fuels, US Gold, Orvana Minerals, Avino Silver & Gold, Pasofino Gold, & Mayfair Gold

Watch on FOX Business News
Saturday, July 5 at 5:00 PM EST or via the links below

Tune into BTV-Business Television and Discover Investment Opportunities featuring nine standout companies making major moves globally.

North American Iron - With pig iron in short supply, North American Iron is stepping up with a two-million-ton annual solution. The company is transforming Minnesota's legacy iron ore into a domestic feedstock for U.S. steelmakers-backed by North Dakota's clean energy support and aiming for production in 2029.

West Red Lake Gold Mines (TSXV: WRLG) (OTCQB: WRLGF) - BTV features West Red Lake Gold as it marks its first gold pour at the fully permitted Madsen Mine in Ontario's Red Lake district. With two million ounces of historical production and robust infrastructure, the company is ramping toward 70,000 ounces per year.

Northisle Copper and Gold (TSXV: NCX) (OTCQX: NTCPF) - BTV spotlights Northisle's advanced copper-gold project on Vancouver Island. With an estimated long mine life, low capital intensity, and proximity to a deepwater port, the project is backed by experienced leadership and strong local support.

Westport Fuel Systems (NASDAQ: WPRT) - With over 30 years of innovation, Westport is delivering fuel-agnostic engine solutions including hydrogen and natural gas. Through its high-pressure joint venture and over 1,400 patents, Westport is helping long-haul transportation transition toward cleaner fuel alternatives.

U.S. Gold Corp. (NASDAQ: USAU) - This fully permitted copper-gold project in Wyoming boasts a sub-two-year payback. ESG-friendly plan, low water use, and potential for added revenue through local gravel sales.

Orvana Minerals  (TSX: ORV) (OTCQX: ORVMF) - With operations in Spain and growth projects in Bolivia and Argentina, Orvana Minerals delivers near-term production and exploration upside across gold, copper, and silver.

Avino Silver & Gold (TSX: ASM) (NYSE American: ASM) - A debt-free, cash-flow positive silver, gold, and copper producer, operating in Durango, Mexico. With development underway at a second mine, Avino is scaling production while leveraging existing infrastructure.

Pasofino Gold (TSXV: VEIN) (OTCQB: EFRGF) - is advancing a 3.9-million-ounce gold project in Liberia. Backed by strong economics and a completed feasibility study, the company is preparing for a construction decision and aiming for early production of up to 200,000 ounces per year.

Mayfair Gold (TSXV: MFG) (OTCQX: MFGCF) - Mayfair Gold is developing a low-risk, fast-to-market gold operation in Ontario, with a unique strategy to self-finance expansion using early cash flow. Positioned below federal permitting thresholds, it's set to capitalize on the current gold cycle.

About BTV - Business Television:

On air for 25+ years, BTV - Business Television, a half-hour investment TV show, delivers up-and-coming companies and investment opportunities. With Hosts, Taylor Thoen and Jessica Katrichak, BTV features stock market analysts, experts and on location interviews with emerging company executives.

TV BROADCAST NETWORKS and TIMES: 

Airing on FOX Business News!

  • Saturday, July 5 @ 5:00pm ET

Suggest a Company to Feature!

Contact: (604) 664-7401 x3 info@b-tv.com. To receive BTV news, subscribe.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/257791

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Westport to Issue Q2 2025 Financial Results on August 11, 2025 and Provides an Update on the Divestment of the Light-Duty Segment

Westport to Issue Q2 2025 Financial Results on August 11, 2025 and Provides an Update on the Divestment of the Light-Duty Segment

 

Westport Fuel Systems Inc. (TSX: WPRT Nasdaq: WPRT) ("Westport" or "The Company") announces that the Company will release Q2 2025 financial results on Monday, August 11, 2025, after market close. A conference call and webcast to discuss the financial results and other corporate developments will be held on Tuesday, August 12, 2025.

 

Time: 10:00 a.m. ET (7:00 a.m. PT)
Call Link: https://register-conf.media-server.com/register/BI842f3b76bd5b44c7aee3e609a6cc77b3   
Webcast: https://investors.westport.com  

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Shell sign on a tall pole against a clear blue sky.

Shell Denies Interest in BP Takeover, Freezing Potential Deal for Six Months

Shell (NYSE:SHEL) has moved quickly to shut down speculation about a takeover bid for BP (LSE:BP,NYSE:BP), issuing a formal statement under the UK Takeover Code.

According to the company, no talks have taken place and it has no intention of making an offer.

“In response to recent media speculation Shell wishes to clarify that it has not been actively considering making an offer for BP and confirms it has not made an approach to, and no talks have taken place with, BP with regards to a possible offer,” the company said in a statement released Thursday (June 26) morning.

Keep reading...Show less
US flag and declining stock graph overlay.

Oil Prices Rise, Then Tumble as Iran Retaliates Against US

Oil prices plummeted over 6 percent on Monday (June 23) as Iran launched a missile strike on a US military base in Qatar in retaliation for American airstrikes on Iranian nuclear facilities.

Reuters reported that Brent crude futures dropped US$4.90, or 6.3 percent, to settle at US$72.19 per barrel, while US West Texas Intermediate (WTI) crude slid US$4.60, or 6.2 percent, to US$69.23 per barrel.

The sharp declines followed initial spikes of nearly 5 percent on Sunday (June 22) evening, after US President Donald Trump confirmed that American forces had “obliterated” key Iranian nuclear sites in a joint response with Israel.

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

×