Charbone Hydrogen Receives A Non-Binding Cash Offer To Sell Interests In Two American Hydro Projects

Charbone Hydrogen Receives A Non-Binding Cash Offer To Sell Interests In Two American Hydro Projects

(TheNewswire)

Charbone Hydrogen Corporation

Reaffirms Priority Plans to Launch Canadian Green Hydrogen Production Facility in 2024; American Production Plant to Follow Later This Year

Brossard, Quebec, APRIL 23, 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, announced that it has received a signed, non-binding offer for the sale of two hydro projects in Vermont and Wisconsin.

The terms of the offer remain confidential but specify that CHARBONE 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 parties have agreed to collaborate using their best efforts to enter into a binding purchase offer with respect to the sale within the next 30-60 days.

News of this potential asset sale follows CHARBONE's recent announcement that essential storage infrastructure is being transported to its flagship green hydrogen production plant site near Montreal, with plans to be operational in the second half of 2024. Additionally, the company has also announced its intent to launch a second North American green hydrogen production project in the Detroit, Michigan area this year.

"We are pleased to receive an offer that recognizes the inherent value of these assets," said Dave Gagnon, CEO of CHARBONE . "As CHARBONE has established a decentralized, energy opportunistic approach to its green hydrogen production strategy, our ability to tap into any renewable energy sources connected to the grid allows us to move quickly, reduce costs and begin production. The sale of these assets will also provide the Company with additional, non-dilutive resources to advance our near-term plant development portfolio, while also evaluating other opportunities to add further projects to an already active modular green hydrogen plant development roadmap."

The 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. Following a phased approach and gradually accelerating to produce approximately 200 kg per day once reaching initial full capacity, the facility targets industrial uses. It replaces gray hydrogen with a clean, reliable, renewable alternative to hydrogen produced from fossil fuels. Charbone is now preparing to set up a delivery schedule for the other production and storage equipment.

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

Charbone Hydrogen Corporation

Telephone:

+1 438 844-7170

Email:

dg@charbone.com

Daniel Charette

Chief Operating Officer

Charbone Hydrogen Corporation

Telephone:

+1 438 800-4946

Email:

dc@charbone.com

Benoit Veilleux

Chief Financial Officer and Corporate Secretary

Charbone Hydrogen Corporation

Telephone:

+1 438 800-4991

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.

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
Charbone Hydrogen Announces Closing of Units for Debt Financing for a Total Amount of $1.3M

Charbone Hydrogen Announces Closing of Units for Debt Financing for a Total Amount of $1.3M

(TheNewswire)

Charbone Hydrogen Corporation

Brossard, Quebec TheNewswire - June 3, 2025 Charbone Hydrogen Corporation (TSXV: CH; OTCQB: CHHYF; FSE: K47) (the "Company" or "CHARBONE "), North America's only publicly traded pure-play company focused on green hydrogen production and distribution, is pleased to announce the closing of Units for debt settlements amounting to $1,342,687.

News Provided by TheNewsWire via QuoteMedia

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

×