Reaffirms priority plans to launch a Canadian green hydrogen production facility in 2024; A U.S. production facility will follow later this year.
Brossard (Quebec)– CORPORATION CHARBONE HYDROGENE (“ Charbone ” or the “ Company ”) ,the only publicly traded company in North America specializing in green hydrogen, announced that it has received a signed, non-binding offer for the sale of its two hydroelectric projects, in Vermont and Wisconsin.
The terms of the offer remain confidential but specify that CHARBONE would sell 100% of its interests in the two hydroelectric projects to an undisclosed renewable energy producer for a combined valuation of US$725,000. The parties have agreed to collaborate by making their best efforts to conclude a binding purchase offer regarding the sale within the next 30 to 60 days.
The announcement of this potential asset sale follows CHARBONE’s recent announcement that critical 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 also announced plans to launch a second North American green hydrogen production project this year in the Detroit, Michigan area.
“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 and opportunistic energy approach to its green hydrogen production strategy, our ability to harness a number of grid-connected renewable energy sources allows us to act quickly, reduce costs and start production. The sale of these assets will also provide the Company with additional non-dilutive resources to advance our plant development portfolio in the near term, while evaluating other opportunities to add other projects to a plant development roadmap. Modular green hydrogen plants already active.
The Sorel-Tracy green hydrogen project will serve as the Company’s flagship facility, giving Charbone a first-mover advantage with production beginning in the second half of 2024. Following a phased approach and gradual ramp-up to produce approximately 200 kg per day once full initial capacity is reached, the installation is intended for industrial uses. It replaces gray hydrogen with a clean, reliable and renewable alternative to hydrogen produced from fossil fuels. Charbone is now preparing to establish a delivery schedule for other production and storage equipment.
About Charbone Hydrogen Corporation
Charbone is an integrated green hydrogen production group focused on the deployment of a North American network of production plants. Using renewable energy to produce dihydrogen (H2) molecules and energy-efficient and environmentally friendly solutions for industrial, institutional, commercial and future mobility users, Charbone plans to deploy 16 green hydrogen production plants in the United States. -United States and Canada by 2030. Charbone is North America’s only publicly traded green hydrogen company with its common shares trading on the TSX Venture Exchange (TSXV: CH); OTC markets (OTCQB: CHHYF); and the Frankfurt Stock Exchange (FSE: K47). For more information, please visit www.charbone.com .
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