The Conversation (0)
(TheNewswire)
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Charbone Hydrogen (TSXV:CH,OTCQB:CHHYF,FWB:K47),OTCQB:CHHYF,FWB:K47) eyes expansion across North America (US and Canada) with a pipeline of new projects 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 and a low-emissions substitute for fossil fuels in residential and industrial use cases.
Charbone’s focus on “green hydrogen” strengthens 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.
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.
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.
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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 Receives A Non-Binding Cash Offer To Sell Interests In Two American Hydro Projects
(TheNewswire)
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Reaffirms Priority Plans to Launch Canadian Green Hydrogen Production Facility in 2024; American Production Plant to Follow Later This Year
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Charbone Hydrogen Announces First Shipment of Green Hydrogen Storage Equipment Ready for Delivery to Flagship Quebec Project
(TheNewswire)
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Brossard, Quebec, APRIL 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, today announced that an essential component for the storage of green hydrogen have been built and is ready for transport to its flagship green hydrogen site, located in the City of Sorel-Tracy, Quebec along Highway 30's "Steel Highway." News of the upcoming equipment delivery quickly follows CHARBONE's recent strategic priorities announcement and stated intent to have its green hydrogen production facility operational this summer.
State-of-the-art storage tubes, fabricated by one of North America's top high-pressure tube manufacturers out of Littleton, Massachusetts, were engineered to manage significantly higher pressures than others found in market. CHARBONE's compression standards were selected in order to increase and optimize safe storage capacity, while ultimately reducing transportation and delivery costs. The different hydrogen production components for the Sorel-Tracy project were ordered and secured with down payments already made.
Arrival of Large-Scale, High-Pressure Hydrogen Storage Tubes Being Coordinated with Onsite Construction Schedule
" After years of intensive and hard work, CHARBONE is hitting another important milestone today with the delivery of this first component for our flagship Canadian project, " said Dave Gagnon, CEO of Charbone . "Our unique approach to modular green hydrogen plant development allows us to move fast. Now just months away from launching production, I'm proud of our team's dedication, and also want to acknowledge and thank investors, shareholders and our families for their strong and unwavering support."
The Sorel-Tracy Green Hydrogen Project will serve as the Company's flagship facility, giving Charbone a first-mover advantage with production starting Q3-2024. Following a phased approach, and gradually accelerating to produce approximately 200 kg per day once reaching initial full capacity, the facility is targeting industrial uses and replacing gray hydrogen with a clean, and 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 | ||||
Telephone: | +1 450 678-7171 | |||
Email: | ||||
Daniel Charette | ||||
Chief Operating Officer | ||||
Telephone: | +1 450 678-7171 | |||
Email: | ||||
Benoit Veilleux | ||||
Chief Financial Officer and Corporate Secretary | ||||
Telephone: | +1 450 678-7171 | |||
Email: | ||||
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Charbone Hydrogene Annonce La Premiere Livraison D'un Equipement De Stockage D'hydrogene Vert Pret A Etre Livre Pour Le Projet Phare Du Quebec
Brossard (Québec), le 10 avril 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, a annoncé aujourd'hui qu'un élément essentiel au stockage de l'hydrogène vert a été fabriqué et est prêt à être transporté vers son site phare d'hydrogène vert, situé dans la ville de Sorel-Tracy, au Québec, le long de l' « autoroute de l'acier », l'autoroute 30. La nouvelle de la livraison prochaine de l'équipement fait rapidement suite à l'annonce récente des priorités stratégiques de Charbone et à son intention déclarée de rendre son installation de production d'hydrogène vert opérationnelle cet été.
Les tubes de stockage à la fine pointe de la technologie, fabriqués par l'un des principaux fabricants de tubes à haute pression d'Amérique du Nord de Littleton, dans le Massachusetts, ont été conçus pour une utilisation des pressions nettement plus élevées que les autres tubes disponibles sur le marché . Les normes de compression Charbone ont été sélectionnées afin d'augmenter et d'optimiser la capacité de stockage sécuritaire, tout en permettant la réduction des coûts de transport et de livraison de l'hydrogène. Les différentes composantes de production d'hydrogène de l'usine de Sorel-Tracy ont été commandées et sécurisées avec les acomptes déjà versés depuis plusieurs mois .
Arrivée de tubes de stockage d'hydrogène à haute pression à grande échelle, coordonnée avec le calendrier de construction sur le site
« Après des années de travail intensif et acharné, Charbone franchit aujourd'hui une autre étape importante avec la livraison de ce premier volet de notre projet phare canadien », a déclaré Dave B. Gagnon, président et chef de la direction de Charbone. « Notre approche unique du développement d'usines modulaires d'hydrogène vert nous permet d'avancer rapidement. À quelques mois seulement du lancement de la production, je suis fier du dévouement de notre équipe et je souhaite également reconnaître et remercier les investisseurs, les actionnaires et nos familles pour leur soutien fort et indéfectible. »
Le projet d'hydrogène vert de Sorel-Tracy servira d'usine phare de la société, donnant à Charbone l'avantage du premier producteur avec une production commençant au troisième trimestre 2024. Suivant une approche par phase avec une progression accélérée, pour produire environ 200 kg par jour une fois atteinte sa capacité initiale, l'usine cible les utilisateurs industriels et remplacera l'hydrogène gris produit à partir de combustibles fossiles par une alternative propre, fiable et renouvelable.
Charbone est à établir le calendrier de livraison des autres équipements de production et de stockage.
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: +1 450 678-7171 | ||
Téléphone cellulaire: +1 450 524-0067 | ||
Courriel: dg@charbone.com | ||
Daniel Charette | ||
Chef de l'exploitation | ||
Corporation Charbone Hydrogène | ||
Téléphone bureau : +1 450 678-7171 | ||
Téléphone cellulaire : +1 514 980-5841 | ||
Courriel: dc@charbone.com | ||
Benoit Veilleux | ||
Chef de la direction financière et secrétaire corporatif | ||
Corporation Charbone Hydrogène | ||
Téléphone bureau: +1 450 678-7171 | ||
Téléphone cellulaire: +1 438 508-1718 | ||
Courriel: bv@charbone.com |
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Charbone Hydrogen Announces Site Selection for First US Based Green Hydrogen Production Facility Entering Final Stages
(TheNewswire)
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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.
With the full support of the Oakland County Economic Development Department (the "OCED"), the Detroit Regional Partnership (the "DRP"), and the City of Detroit Sustainable Office, CHARBONE has been visiting, evaluating and assessing multiple brownfield sites for redevelopment potential. Now in the final stages of its selection process, the Company anticipates making a selection in the coming weeks. Additional key stakeholders such as the Michigan Economic Development Corporation (the "MEDC") and the Department of Environment, Great Lakes, and Energy (the "EGLE") have also been actively involved.
CHARBONES's site selection approach to modular green hydrogen plant development is based on commercial real estate best practices and the group's collective expertise in developing alternative energy solutions that align with municipal, state and federal agency goals to leverage renewable energies 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 contributing factors in final site selection.
CHARBONE's Chief Operating Officer, Daniel Charette, has also taken several face-to-face meetings with local and regional stakeholders, including public transit companies that are looking at Fuel Cell Buses and other potential green hydrogen off-takers. Additionally, Charette recently presented CHARBONE's Greater Detroit Area project vision at a recent Oakland County Mobility Advisory Council held at the Continental AG Auburn Hills campus.
Click Image To View Full Size
On the picture few members of the Oakland County Mobility Advisory Council , from left to right: Ahmad Jawad , Director of Mobility & Smart Technologies, D2 Traffic Technologies; Erin N. Quetell , Chief Environmental Sustainability Officer, Oakland County; Sarah Lagpacan , Principal Planner, Oakland County Transit Group; Daniel Charette , Chief Operating Officer, Charbone Hydrogen Corporation; Zack Bolton , Director of Sales, Continental Automotive Systems; Dwight A. Ferrell , General Manager, Suburban Mobility Authority for Regional Transportation (SMART); Chris Olzem , Mobility Innovations Coordinator, Oakland County
" CHARBONE's North American green hydrogen production plans are aggressive, and we plan to be online and operating in both the US and Canada this year ," said Daniel Charette, COO of Charbone . "Our top priorities are to bring out Canadian project online this summer, and to fast track the Oakland County project and become the first green hydrogen production facility in Michigan before the end of 2024. We are engaged with all suppliers for electrolyser deliveries within these timeframes, and our scalable approach to project plant construction gives our teams the flexibility and agility to mobilize quickly. The amount of green hydrogen opportunities in the Detroit-area is simply staggering, and our plan is to capitalize on these as first-movers."
Additionally, CHARBONE is also announcing an increase by $100,000 of the secured convertible debentures with an arm's length investor FINEXCORP, announced on August 3, 2023, and January 31, 2024, for the purchase of related equipment. CHARBONE has also agreed with the holder to a change of the maturity date from March 30, 2025, to September 30, 2025. All the other terms would stay the same and will be issued upon the approval of the TSX Venture Exchange and other customary closing conditions.
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 16 green hydrogen production facilities in the US and Canada 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 (FWB: K47). For more information, please visit www.charbone.com
About Oakland County
Oakland County Economic Development is Oakland County's foremost advocate for business and community development, leading the charge for an economy that accounts for over 20% of the state's GDP and is host to over 750 foreign-owned firms. The department focuses on improving the well-being of nearly 1.3 million Oakland County residents in partnership with 62 cities, villages and townships through efforts that entail job creation, job retention, tax base enhancements and quality of life improvements. For more information on Oakland County economic development and our initiatives, visit www.advantageoakland.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: | +1 450 678-7171 | |||
Email: | ||||
Daniel Charette | ||||
Chief Operating Officer | ||||
Telephone: | +1 450 678-7171 | |||
Email: | ||||
Benoit Veilleux | ||||
Chief Financial Officer and Corporate Secretary | ||||
Telephone: | +1 450 678-7171 | |||
Email: | ||||
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Helium Evolution Announces Filing of Annual 2023 Financial Results and Provides Operations Update
Helium Evolution Incorporated (TSXV:HEVI) (" HEVI " or the " Company "), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, today announced the filing of the Company's annual financial statements and associated management's discussion and analysis for the year ended December 31, 2023 (the " Annual Report ").
Complete details of the Annual Report are available on SEDAR+ at www.sedarplus.ca, and on HEVI's website .
Three Months and Year Ended December 31, 2023 Highlights:
| Three months ended | Year ended | |||
| Tabular amounts in thousands of Canadian Dollars, except share and per share amounts | December 31, 2023 | December 31, 2022 | December 31, 2023 | December 31, 2022 |
| Financial | ||||
| Net loss | 1,719 | 520 | 2,953 | 7,363 |
| Net loss per share, basic and diluted | 0.02 | 0.01 | 0.03 | 0.09 |
| Cash | 6,330 | 9,128 | 6,330 | 9,128 |
| Working capital | 5,743 | 10,236 | 5,743 | 10,236 |
| Total assets | 11,639 | 13,022 | 11,639 | 13,022 |
| Total liabilities | 872 | 226 | 872 | 226 |
| Weighted average shares outstanding | 96,033,974 | 96,033,974 | ||
| Basic and diluted 1 | 96,033,974 | 78,397,100 | ||
| 1 The weighted average number of common shares outstanding is not increased for outstanding stock options and warrants when the effect is anti-dilutive. |
During the year ended December 31, 2023, HEVI continued to execute on its focused strategy of developing the Company's 5.6 million acres of helium rights in southern Saskatchewan and advancing its ultimate goal of producing and selling helium, generating cash flow and driving positive returns for shareholders. HEVI has remained committed to maintaining ongoing financial flexibility, demonstrated by a positive working capital position of $5.7 million at December 31, 2023, excluding $0.8 million of tubing and casing that was pre-purchased and not utilized.
Operations Update
Looking forward to the remainder of 2024 and into 2025 and as announced on April 2, 2024 , the Company is strategically planning to embark upon a drilling program in the Mankota area of Saskatchewan with its partner, North American Helium Inc. (" NAH "), building upon three existing helium discoveries in the region. HEVI and NAH are planning to drill up to nine joint development wells (the " New Wells ") which are expected to spud between Q3 2024 and Q2 2025, subject to surface and environmental restrictions. With HEVI's 20% working interest in the New Wells, the Company is positioned to capitalize on this strategic expansion.
Stay Connected to Helium Evolution
Shareholders and other parties interested in learning more about the Helium Evolution opportunity are encouraged to visit the Company's website, which includes the Company's current corporate presentation, and are invited to follow the Company on LinkedIn and X for ongoing corporate updates and helium industry information. Helium Evolution also provides an extensive, commissioned ‘deep-dive' research report prepared by a third party whose background includes serving as a research analyst for several bank-owned and independent investment dealers. In addition to recent media articles , HEVI maintains a profile on the Investing News Network platform, where further information, editorial pieces and industry reviews are available.
About Helium Evolution Incorporated
Helium Evolution is a Canadian-based helium exploration company holding the largest helium land rights position in North America among publicly traded companies, focused on developing assets in southern Saskatchewan. The Company has 5.6 million acres of land under permit near proven discoveries of economic helium concentrations which will support scaling the exploration and development efforts across its land base. HEVI's management and board are executing a differentiated strategy to become a leading supplier of sustainably-produced helium for the growing global helium market.
For further information, please contact:
| Greg Robb, President & CEO Kristi Kunec, CFO | Phone: 1-587-330-2459 Email: info@heliumevolution.ca Web: https:// www.heliumevolution.ca/ |
| Cindy Gray, Investor Relations | info@5qir.com | 1-403-705-5076 |
Statement Regarding Forward-Looking Information
This news release contains statements that constitute "forward-looking statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Forward-looking statements in this document include statements regarding the Company's expectations regarding the Company and/or NAH's exploration and drilling plans including the New Wells, the Company's expectations regarding scalable helium production from its land generally , the Company's expectations regarding recoverability of helium, the Company and/or NAH's ability to identify future exploration and drilling targets, the Company's ability to capitalize upon the New Wells, increasing shareholder value, the Company's ability to preserve capital, the drilling timeline for and success of any future Company and/or NAH drills, and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may be unsuccessful in drilling commercially productive wells; the Company and/or NAH may choose to defer, accelerate or abandon its drilling plans, including the New Wells; the Company and/or NAH may determine not to bring wells onto production; new laws or regulations and/or unforeseen events could adversely affect the Company's business and results of operations; stock markets have experienced volatility that often has been unrelated to the performance of companies and such volatility may adversely affect the price of the Company's securities regardless of its operating performance; risks generally associated with the exploration for and production of resources; the uncertainty of estimates and projections relating to expenses; constraint in the availability of services; commodity price and exchange rate fluctuations; adverse weather or break-up conditions; and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.
When relying on forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and risks, other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous paragraphs will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
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 release.
News Provided by GlobeNewswire via QuoteMedia
March 2024 Quarterly Activities Report
Highlights
- Review of recently acquired TEA licence area offshore Peru identifies over 20 prospects and leads in proven basin with producing oil fields
- High priority areas totalling 1,000km2 within Tumbes TEA selected for 3D seismic reprocessing to mature targets to drill ready
- Priority areas include existing Piedra Redonda gas field with an independently audited ‘Best Estimate’ Contingent Resources of 404 billion cubic feet (Bcf) plus ‘Best Estimate’ Prospective Resources of 2.2 trillion cubic feet (Tcf)#
- High potential Bonito, Volador and Raya prospects undergoing additional studies in conjunction with 3D seismic reprocessing
Figure 1 – Bonito prospect showing Top Zorritos reservoir contour and 76km2 trap closure
Technical Evaluation Agreement (TEA) LXXXVI - Offshore Oil and Gas Block (GLV 80% Working Interest)
During the March 2024 quarter, Global and US-based joint venture partner Jaguar Exploration Limited (Jaguar), continued the evaluation of their 4,585km2 Technical Evaluation Agreement (TEA or block) offshore Peru.
The block comprises over 3,800km2 of existing 3D seismic data and more than 7,000 line kilometres of 2D seismic. An aggregate of 1,000km2 of 3D seismic was selected during the quarter to undergo reprocessing and interpretation across three discrete highly prospective areas. Reprocessing will include pre-stack depth migration (PSDM) work across each of the three areas (Figure 2).
Figure 2 – Areas undergoing detailed seismic reprocessing and interpretation
The areas were selected following a review of the seismic data and other historical reports and information related to the TEA. Global identified more than twenty prospects and leads as detailed in the ASX release on 23 January 2024 of which three large scale oil and gas prospects, Bonito, Raya and Volador and one already discovered gas field, Piedra Redonda have been prioritised.
Piedra Redonda Gas Field
As part of the Company’s review of the Tumbes Basin, to identify areas in the TEA for additional studies including seismic repreocessing, the Piedra Redonda gas field, discovered in 1978 by the C-18X well, was reviewed.
The review of the Piedra Redonda gas field including a historical assesment contingent and prospective resource is detailed in the ASX release on 18 March 2024.
Click here for the full ASX Release
This article includes content from Global Oil & Gas Limited, 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.
Daydream-2 Stimulation Program Underway
HIGHLIGHTS
- Six stage stimulation program now underway
- Stimulation phase to be immediately followed by extensive flow testing
- The Lorelle Sandstone, which has already flowed a stabilized 1.3 million cubic feet per day, will be included in the stimulation and flow testing program
Following the recent successful flow test on the Lorelle Sandstone, which flowed gas without stimulation from a depth of 4,200 metres, the next phase of the Daydream-2 appraisal project is now underway.
Global leader in stimulation services Halliburton yesterday commenced the multi-stage stimulation program at Daydream-2, with a total of 16,000 hydraulic horse power of equipment now in use.
Halliburton fleet arriving on site
This program will have six separate stages, targeting two coal zones, three tight gas zones and the Lorelle Sandstone. Flow testing will follow immediately thereafter – with a view to measuring flows from individual zones as well as in totality. Such measurements will be key inputs into a revised resource assessment, which will follow the flow testing.
Elixir’s Managing Director, Mr Neil Young, said: “We are pleased to announce that the next phase of our Daydream-2 work program has now commenced following the mobilization of extensive Halliburton kit to the site. Flow testing of our six separate target zones will follow shortly thereafter. The multiple objectives of this so far very successful appraisal program will now come to fruition in only a few weeks – we await this with bated breath.”
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.
Source Rock Royalties: A Pure-play on Oil & Gas Royalties in Western Canada
Source Rock Royalties (TSXV:SRR) focuses on oil & gas royalties in the provinces of Alberta and Saskatchewan. The company's portfolio comprises various gross overriding royalty interests in southeast Saskatchewan and a gross overriding royalty in largely contiguous Clearwater interests in Central Alberta. Source Rock Royalties offers investors low-risk and low-capital-cost exposure to the oil & gas sector with a royalty business model that shares in production revenue without exposure to the capital costs associated with drilling, development, maintenance, abandonment, environmental and other obligations.
Source Rock acquired new royalties worth nearly C$13 million in 2023 and a total of C$16.5 million since its IPO in March 2022 effectively doubling the company's royalty acreage. The acquisitions further enhanced its current royalty production and exposure to potential undeveloped drill locations. Source Rock generated C$6.6 million in royalty revenue in 2023, the highest in its 11-year history.
The majority of Source Rock's royalties are derived from top-line revenue, resulting in minimal exposure to deductions linked to production costs from wellbores and the sale of various commodities. Also, the majority of its current royalty payors are financially stable and possess robust capabilities to efficiently operate and enhance the value of the lands in which Source Rock holds royalties. Some of the key royalty payors include Whitecap Resources (TSX:WCP), Rubellite Energy (TSX:RBY), Surge Energy (TSX:SGY), Crescent Point Energy (TSX:CPG) and Anova Resources (Private), among many others.
Company Highlights
- Source Rock Royalties is a Calgary, Canada based pure-play oil and gas royalty company, with a focus on Alberta and Saskatchewan; the only junior oil and gas royalty company listed on the TSXV.
- Source Rock concentrates on acquiring royalties in areas with proved reserves, foreseeable future high rate-of-return drilling upside, and partnering with operators that are financially and operationally prudent.
- Owning and managing royalties is a capital-light business model offering the benefit of sharing in production revenue without exposure to the capital costs associated with drilling, development, maintenance, abandonment, environmental and other obligations.
- Source Rock Royalties has a diversified oil-focused portfolio of royalty interests concentrated in southeast Saskatchewan, central Alberta, and west-central Saskatchewan with well-positioned royalty payors. Oil exposure allows for a strong netback (profit) per barrel even during periods of lower commodity prices.
- Source Rock Royalties has a proven track record of executing on its balanced growth and yield business model. The company has achieved 11 years of positive cash flow and provided ~$17 million in dividends back to shareholders since 2014.
- Source Rock Royalties anticipates its current monthly dividend of $0.006 to be comfortably funded with cash flow by current operations down to oil prices of C$60/bbl (or US$50/bbl WTI).
- The management and board of directors have a proven track record of creating value in the oil & gas industry. The insiders own 9.5 percent of Source Rock’s common shares, aligning their interests to that of the shareholders.
- The company has a strong institutional shareholder base with CN Rail Pension Fund owning approximately 21 percent of Source Rock’s common shares.
- Insiders and key shareholders have an average cost on their shares of ~$0.90 (there were never any cheap Founders or seed shares issued).
- Source Rock Royalties does not use debt in its business and always maintains a cash balance (currently ~$2.2 million).
This Source Rock Royalties profile is part of a paid investor education campaign.*
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