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The CHARBONE team announced onsite construction progress at its Sorel-Tracy flagship, preparing for equipment deliveries and the start of production.
Global Oil & Gas Limited (ASX: GLV) (Global or Company) is pleased to provide an update on its Tumbes Basin Technical Evaluation Agreement (“TEA”) offshore Peru (Figure 1). In August 2023, the Company executed TEA LXXXVI with PeruPetro, the Government department responsible for the administration and promotion of oil and gas exploration in Peru. The 4,858km2 TEA incorporates almost all of the offshore Tumbes Basin, in moderate water depths of between 100m and 1,500m. The block is surrounded by, and includes, multiple historic and currently producing oil and gas fields.
Highlights
- Identification and interpretation of historical data has identified more than 20 potential leads in the TEA area.
- Work programme commenced to develop, rank and ‘high-grade’ these leads and define new prospective features.
- The next milestone will be to select areas for 3D seismic reprocessing with a view to the deployment of new Quantitative Interpretation and Artificial Intelligence based interpretation methodologies.
Figure 1 – Tumbes Basin TEA area in northern Peru.
The Company has now collected and curated a significant quantity of geophysical and geological data over the TEA and the wider Tumbes Basin and interpretation work is underway.
Figure 2 - TEA geophysical data
There are several oil and gas discoveries in the Tumbes Basin itself, with the southerly adjacent Talara Basin representing the most prolific offshore hydrocarbon basin in Peru. The majority of existing discoveries and prospective targets in the Tumbes Basin are within the Miocene Zorritos Formation, with hydrocarbons sourced from the Oligo-Miocene Heath Formation (Figure 3).
Figure 3 – Tumbes Basin stratigraphy. Primary reservoir objectives are in the Miocene Zorritos Formation with secondary objectives in the Miocene Tumbes Formation and Pliocene Mal Pelo Formation. The primary source rock is the Oligo-Miocene Heath Formation with secondary potential in the Miocene Cardalitos Formation where it is buried deep enough to reach maturity.
The Tumbes Basin has a complex geological history related to the Pacific Plate colliding with, and being subducted beneath, the South American Plate. The basin is heavily faulted (Figure 4) creating a multitude of structural trapping styles.
Despite the presence of several discoveries within and adjacent to the TEA area, only one well, Marina- 1, has been drilled to test an exploration prospect informed by 3D seismic data. Marina-1 was drilled in 2020 and encountered some hydrocarbon shows in shallow Pliocene reservoirs, however the anticipated reservoirs in the Tumbes Formation were not well developed. The well did not reach the Zorritos Formation which is the primary reservoir target in the basin.
Marina-1 was a commitment well drilled in the early period of the COVID pandemic when oil prices had dropped significantly due to global uncertainty.
The results of the Marina-1 are to be reviewed in detail and will be of value in determining where the Tumbes reservoir might be better developed. There are over 3,800 km2 of 3D seismic data within the TEA area and, as noted above, Marina-1 is the only exploration well to have been drilled since these data were acquired.
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.
GLV:AU
CHARBONE Hydrogen Provides Update on Flagship Sorel-Tracy Project, Achieving Multiple Key Milestones This Week
Brossard, Quebec TheNewswire - August 14, 2025 Charbone Hydrogen Corporation (TSXV: CH,OTC:CHHYF; OTCQB: CHHYF; FSE: K47) (" CHARBONE " or the " Company "), North America's only publicly traded pure-play company focused on ultra-pure green hydrogen production and distribution, is pleased to provide an update on substantial construction progress and infrastructure connections at its flagship Sorel-Tracy project.
Electrical Interconnection Completed
Earlier this week, a Hydro-Quebec team completed the electrical interconnection of the site. This involved connecting the distribution network to the first pole installed on-site, following the installation of the Hydro-Québec metering station three weeks earlier. Energy can now flow from the Hydro-Quebec grid along the site's overhead power lines to the production area, paving the way for equipment installation.
Water Supply Infrastructure Installed
Meanwhile, the Sorel-Tracy Water Department finished excavating and installing piping to link the CHARBONE site to a 14-inch main water line. This connection will ensure enough water capacity to support all five planned project phases. With both key inputs for electrolysis—electricity and water—now secured, the site is prepared to start hydrogen production once the equipment installation is finished.
Heavy civil construction equipment has arrived on-site, and CHARBONE's general contractor and subcontractor teams have begun work. Surveyors have finished all necessary site markings for the construction of buildings and production areas in preparation for the arrival of production equipment in the upcoming weeks.
During site preparation, the Quebec Ministry of the Environment (MELCCFP) identified a rare and endangered plant species—the ‘Three-awn grass'—on a small part of the property. In collaboration with experts from Tetra Tech, CHARBONE successfully relocated and protected the plant, ensuring it has a dedicated habitat on the site. "This update marks the completion of three critical milestones for our team," said Dave Gagnon, President and CEO of CHARBONE. "We are proud of the progress to date and remain on track to commence production this fall."
Closing of Shares for Debt Financing
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CHARBONE is pleased to announce the closing of Shares for debt settlements amounting to $118,095. The Company has settled with a arm's length supplier $118,095 of payables through the issuance of shares. A total of 1,968,254 Shares will be issued pursuant to the closing, at a conversion price per unit of $0.06. The Company believes that the settlement of the payables through the issuance of securities is appropriate to advance towards production for its Sorel-Tracy project and the overall need to manage its cash prudently. A formal agreement will reflect any debt settlement and will be subject to the approval of the TSX Venture Exchange. Any securities issued pursuant to a debt settlement will be subject to a statutory four-month hold period in Canada.
Update on closing US$1.5M in Convertible Notes
Following the Exchange's review of the closing of US$1.5M (CA$2.1M) convertible notes announced on December 4, 2024, CHARBONE will issue 2,109,900 warrants to the placement agent. Each warrant entitles the holder to purchase one additional common share of the Company at an exercise price of $0.10 or USD equivalent.
About CHARBONE Corporation
CHARBONE is an integrated company specialized in Ultra High Purity (UHP) hydrogen and the strategic distribution of industrial gases in North America and the Asia-Pacific region. It is developing a modular network of green hydrogen production while partnering with industry players to supply helium and other specialty gases without the need to build costly new plants. This disciplined strategy diversifies revenue streams, reduces risks, and increases flexibility. The CHARBONE group is publicly listed in North America and Europe on the TSX Venture Exchange (TSXV: CH,OTC:CHHYF), the OTC Markets (OTCQB: CHHYF), and the Frankfurt Stock Exchange (FSE: K47). For more information, 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 .
| Contact Charbone Hydrogen Corporation | |
| Telephone: +1 450 678 7171 | |
| Email: ir@charbone.com Benoit Veilleux CFO and Corporate Secretary | |
Copyright (c) 2025 TheNewswire - All rights reserved.
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Charbone Hydrogene annonce des mise-a-jour sur le projet phare de Sorel-Tracy, franchissant plusieurs etapes cles cette semaine
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L'équipe Charbone a annoncé l'avancement des travaux de construction sur le site de son projet phare de Sorel-Tracy, se préparant aux livraisons d'équipements et au début de la production.
Brossard (Québec) TheNewswire - le 14 août 2025 - CORPORATION CHARBONE HYDROGÈNE (TSXV: CH,OTC:CHHYF OTCQB: CHHYF, FSE: K47 ) (« Charbone » ou la « Société »), une rare compagnie cotée en bourse spécialisée dans la production et la distribution d'hydrogène ultrapur vert en Amérique du Nord, est heureuse de fournir une mise-à-jour sur les progrès substantiels de la construction et les connexions d'infrastructures de son projet phare de Sorel-Tracy.
Interconnexion électrique terminée
Plus tôt cette semaine, une équipe d'Hydro-Québec a terminé l'interconnexion électrique du site. Il s'agissait de raccorder le réseau de distribution au premier poteau installé sur le site, après l'installation du poste de mesurage d'Hydro-Québec trois semaines plus tôt. L'énergie peut désormais circuler du réseau d'Hydro-Québec jusqu'à la zone de production via les lignes aériennes du site, ouvrant ainsi la voie à l'installation des équipements.
Infrastructures d'approvisionnement en eau installées
Entre-temps, le service de ses eaux de la Ville de Sorel-Tracy a terminé l'excavation et l'installation de la tuyauterie reliant le site de Charbone à une conduite d'eau principale de 14 pouces. Ce raccordement assurera une capacité d'alimentation en eau suffisante pour les cinq phases prévues du projet. Les deux principaux apports d'électricité et d'eau pour l'électrolyse étant désormais assurés, le site est prêt à démarrer la production d'hydrogène une fois l'installation des équipements terminée.
Travaux de génie civil en cours
Les machineries lourdes de génie civil sont arrivées sur le chantier, et les équipes de l'entrepreneur général et des sous-traitants de Charbone ont commencé les travaux. Les arpenteurs géomètres ont terminé le marquage du site nécessaire à la construction des bâtiments et des zones de production, en prévision de l'arrivée des équipements dans les semaines à venir.
Lors de la préparation du site, le ministère de l'Environnement du Québec (MELCCFP) a identifié une espèce végétale rare et menacée – l'Aristide à rameaux – sur une petite partie de la propriété. En collaboration avec les experts de Tetra Tech, Charbone a réussi à relocaliser et à protéger la plante, lui assurant ainsi un habitat dédié sur le site. « Cette mise à jour marque la réalisation de trois étapes cruciales pour notre équipe », a déclaré Dave Gagnon, président-directeur général de Charbone. « Nous sommes fiers des progrès réalisés à ce jour et maintenons le cap pour le début de la production cet automne. »
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Clôture d'un financement de règlement de dettes par actions
Charbone a le plaisir d'annoncer la clôture d'une émission d'actions pour règlement de dettes totalisant 118 095 $. La Société a réglé avec un fournisseur sans lien de dépendance 118 095 $ de dettes par l'émission d'actions. Un total de 1 968 254 actions seront émises à la clôture, à un prix de conversion unitaire de 0,06 $. La Société estime que le règlement des dettes par l'émission de titres est approprié pour progresser vers la production de son projet Sorel-Tracy et pour répondre à la nécessité générale de gérer sa trésorerie avec prudence. Une entente officielle reflétera tout règlement de dettes et sera soumise à l'approbation de la Bourse de croissance TSX. Tout titre émis dans le cadre d'un règlement de dettes sera assujetti à une période de détention légale de quatre mois au Canada.
Mise-à-jour sur la clôture de billets convertibles de 1,5 million de dollars américains
À la suite de l'examen par la Bourse de la clôture des obligations convertibles de 1,5 M$ US (2,1 M$ CA) annoncée le 4 décembre 2024, Charbone émettra 2 109 900 bons de souscription à l'agent de placement. Chaque bon de souscription permet à son détenteur d'acquérir une action ordinaire supplémentaire de la Société à un prix d'exercice de 0,10 $ ou l'équivalent en dollars américains.
À propos de Charbone Hydrogène Corporation
Charbone est une entreprise intégrée spécialisée dans l'hydrogène ultrapur (UHP) et la distribution stratégique de gaz industriels en Amérique du Nord et en Asie-Pacifique. Elle développe un réseau modulaire de production d'hydrogène vert tout en s'associant à des partenaires de l'industrie pour offrir de l'hélium et d'autres gaz spécialisés sans avoir à construire de nouvelles usines coûteuses. Cette stratégie disciplinée diversifie les revenus, réduit les risques et augmente sa flexibilité. Le groupe Charbone est coté en bourse en Amérique du Nord et en Europe sur la bourse de croissance TSX (TSXV: CH,OTC:CHHYF); sur les marchés OTC (OTCQB: CHHYF); et à la Bourse de Francfort (FSE: K47). Pour plus d'informations, 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.
Pour contacter Corporation Charbone Hydrogène :
| Téléphone bureau: +1 450 678 7171 | ||
| Courriel: ir@charbone.com Benoit Veilleux Chef de la direction financière et secrétaire corporatif |
Copyright (c) 2025 TheNewswire - All rights reserved.
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RaaS Research Sees Major Upside for Provaris’ Hydrogen Play
“The company holds a material early-mover advantage with a number of strategic partnerships and two hydrogen supply, offtake and shipping agreements expected to become unconditional over the next 12 months,” RaaS added.
The analysis highlights several factors contributing to Povaris’ investment value proposition: hydrogen as a critical element essential to the growing alternative energy supply chain; Povaris’ use of Norwegian renewable energy ensuring compliance with EU fuel standards; and Povaris’ innovative ‘capital-lite’ financial model for early cash.
Illustration of a FSIU in the foreground, receiving cargo from a LCO2 carrier in the background (Source: Yinson Production AS)
Key highlights of the report:
- Disruptive Tank Technology: Provaris owns proprietary compressed hydrogen tank IP designed for cost-efficient maritime transport — a potential game-changer in hydrogen and CO₂ logistics.
- Major Hydrogen Projects: Two European hydrogen export projects (with Uniper and Norwegian Hydrogen) are targeting FID by mid-2026 and commercial start-up by 2029.
- Capital-Lite Model: Revenue is expected via license and origination fees, avoiding large upfront costs; early cash flow potential through third-party ship funding and revenue sharing.
- Valuation Upside: Analyst values PV1 at $123m ($0.16/share) mid-point – a 12x premium to current share price ($0.013), driven by hydrogen project potential and IP value.
- Carbon Capture Expansion: Provaris is co-developing LCO₂ storage and transport solutions with Yinson, including the EU-backed STARFISH CCS project, with JV funding and global applications.
For the full analyst report, click here.
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Westport Announces Closing of Previously Announced Light-Duty Segment Divestiture
Westport Fuel Systems Inc. ("Westport" or the "Company") (TSX:WPRT Nasdaq:WPRT), today announced the successful closing of the previously announced transaction to divest its Light-Duty Segment and outlines its strategic vision for future growth, emphasizing expansion of market share, entering new markets and right sizing its current operations.
Today, Westport closed the sale of the Light-Duty Segment to a wholly-owned investment vehicle of Heliaca Investments Coöperatief U.A. ("Heliaca Investments"), a Netherlands based investment firm supported by Ramphastos Investments Management B.V., a prominent Dutch venture capital and private equity firm (the "Transaction"). The Transaction, initially announced on March 31, 2025, includes the sale of Westport Fuel Systems Italia S.r.l., encompassing the Light-Duty OEM, delayed OEM, and independent aftermarket businesses. Total consideration for the assets was a base price of approximately $79.5 million (€67.7 million), subject to certain adjustments, along with potential earnouts of up to a revised estimate of $3.9 million (€3.3 million) based on future performance milestones.
"The successful completion of the disposition of our Light-Duty Segment marks a pivotal step in strengthening our balance sheet," said Dan Sceli, Chief Executive Officer of Westport Fuel Systems. "More importantly, it allows Westport to sharpen our focus on the larger, higher-growth opportunities ahead, including providing the most economical solutions for heavier duty and high horse power commercial mobility and industrial applications that also deeply decarbonize these challenging segments – where we believe our products and technologies can deliver the greatest value."
The New Westport
With the successful completion of the Light-Duty Segment divestiture, Westport is taking the necessary steps to execute on a new and focused integrated business strategy. The Company recognizes the evolving macroeconomic environment and is positioning itself to capitalize on renewed market momentum, drive operational excellence, and deliver on key financial objectives.
"The transportation landscape is shifting, and customer demand for cleaner, smarter, and more sustainable solutions continues to accelerate," added Sceli. "We're seeing renewed attention on CNG and LNG fuelled platforms and Westport is uniquely positioned to deliver the necessary products and technologies. By leveraging our core strengths in fuel-agnostic, high-pressure fuel systems, we aim to meet growing market demand and provide our customers with reliable solutions that perform – and in many cases are more affordable than the incumbant engines."
During the upcoming Q2 financial results conference call, Westport will be covering additional details about the transaction and Westport's strategy ahead. We will focus on key priorities, including:
- Cespira: Strategic market expansion and technology leadership in heavy-duty transportation and off road high horse power mobility
- High Pressure Controls and Systems: Complementing the energy transition with versatile solutions that support multiple powertrain platforms
- Westport Financial Initiatives: Balancing opportunity scale, execution performance, and dynamic market conditions
Westport's key focus going forward recognizes both the opportunities and headwinds in overall market conditions. We have initiated a comprehensive internal process to review additional ways to maximize our economic benefit from this recent transaction for our stakeholders. We look forward to providing additional insight and updates when we report Q2 2025 results on Monday, August 11, 2025, after market close.
About Westport Fuel Systems
Westport is a technology and innovation company connecting synergistic technologies to power a cleaner tomorrow. As a leading supplier of affordable, alternative fuel, low-emissions transportation technologies, we design, manufacture, and supply advanced components and systems that enable the transition from traditional fuels to cleaner energy solutions.
Our proven technologies support a wide range of clean fuels – including natural gas, renewable natural gas, and hydrogen – empowering OEMs and commercial transportation industries to meet performance demands, regulatory requirements, and climate targets in a cost-effective way. With decades of expertise and a commitment to engineering excellence, Westport is helping our partners achieve sustainability goals – without compromising performance or cost-efficiency – making clean, scalable transport solutions a reality.
Westport Fuel Systems is headquartered in Vancouver, Canada. For more information, visit www.westport.com .
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements, including statements regarding the anticipated benefits of the Transaction, including potential earn-out payments, the ability to strengthen our balance sheet, the ability to capitalize on higher- growth opportunities , and our expectations regarding the future success of our business. Other forward-looking statements included in the release include those relating to Westport's future strategic plans, business opportunities and use of the Transaction proceeds. These statements are neither promises nor guarantees but involve known and unknown risks and uncertainties and are based on both the views of management and assumptions that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activities, performance, or achievements expressed in or implied by these forward-looking statements. These risks, uncertainties, and assumptions include those related to governmental policies, regulation and approval, the achievement of the performance criteria required for the earnout described above, purchase price adjustments contained in the Agreement, the demand for our products, as well as other risk factors and assumptions that may affect our actual results, performance, or achievements, as discussed in our most recent Annual Information Form and other filings with securities regulators. Readers should not place undue reliance on any such forward-looking statements, which speak only as of the date they were made. We disclaim any obligation to publicly update or revise such statements to reflect any change in our expectations or in events, conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in these forward-looking statements except as required by National Instrument 51-102. The contents of any website referenced in this press release are not incorporated by reference herein .
Investor Inquiries:
Investor Relations
T: +1 604-718-2046
E: invest@westport.com
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