Brossard, Québec, November 18, 2022 – CHARBONE HYDROGEN CORPORATION (TSXV:CH) (“Charbone”) announces that it has amended certain terms and conditions to the Purchase and Sale Agreement (the “PSA”), signed last October 7, 2022, between its wholly-owned subsidiary, Charbone Corporation USA (“Charbone USA”), and NORTHWOODS HYDROPOWER INC. (“Northwoods”), for the acquisition of all of the general partner and limited partner interests of Wolf River Hydro Limited Partnership (“Wolf River”), the owner of the 700 kW operating hydropower plant in Shawano, Wisconsin. The amendment is to better coordinate the change of ownership with the planned shut down for maintenance work that will be ending this month. Wolf River is party to a long-term power purchase agreement that is expected to generate recurrent revenues for Charbone USA in Q4-2022.
The main change to the terms and conditions of the PSA is that the acquisition of Wolf River is now expected to be closed on or before December 1st, 2022, subject to customary closing conditions. Concurrently, Charbone and Northwoods will continue negotiating PSAs for the Tower Kleber Limited Partnership and the Black River Limited Partnership (collectively, the “Limited Partnerships”), with the acquisition of the Limited Partnerships expected to be concluded on or before February 28, 2023. The Limited Partnerships have the capacity to produce 2,760 kW of hydropower. The operating hydropower plants owned by the Limited Partnerships are each located in the Onaway region of Michigan and will be financed independently of the Shawano hydropower plant owned by Wolf River.
About Charbone
Charbone is a Canadian green hydrogen company established in North America. The company’s strategy consists of developing modular and expandable hydrogen facilities. Through the acquisition of hydropower plants in the United States and in Canada, Charbone intends to produce green dihydrogen molecules using reliable and sustainable energy to distinguish itself as a supplier of an environmentally friendly solution for industrial and commercial companies.
About Northwoods
Northwoods, Wolf River Hydro Limited Partnership, Tower Kleber Limited Partnership and Black River Limited Partnership are U.S. based businesses, wholly owned by a Canadian family, that have been operating the Michigan and the Wisconsin hydropower plants for over 20 years.
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. Specifically, this news release includes forward-looking statements regarding Charbone’s expected revenues to be generated by the acquisition of the Limited Partnerships, the negotiation and completion of the PSAs between Charbone USA and each of the Limited Partnerships, other statements regarding future product developments, and markets, including with respect to specific indications, and any other statements which are other than statements of historical fact and the expected timing of such events. The forward-looking statements reflect Charbone 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 each respective statement is 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. Among the key factors that could cause actual results to differ materially: whether Charbone USA and each of the Limited Partnerships are successful in negotiating and entering the PSAs and the availability of substantial capital in the future to fund its operations. The forward-looking statements may be affected by risks and uncertainties in the business of Charbone.
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
Dave B. Gagnon Daniel Charette Chief Executive Officer and Chairperson of Chief Operating Officer the Board
CHARBONE Hydrogen Corporation CHARBONE Hydrogen Corporation
Telephone: +1 450 678-7171 Telephone: +1 514 980-5841 Email: dg@charbone.com Email: dc@charbone.com
Brossard, Québec, November 17, 2022 – CHARBONE HYDROGEN Corporation (TSXV:CH) (“CHARBONE”) is pleased to announce an important milestone with the signature, of a definitive multi-year master supply agreement (the “Agreement”) with ELOGEN SAS (“ELOGEN”), a GTT Company, pursuant to which CHARBONE is securing its supply chain of PEM electrolyzers (Proton Exchange Membrane) for up to 100 Megawatts over a period of four (4) years, from 2023 to 2026. The PEM electrolyzers to be supplied by ELOGEN to CHARBONE will be comprised of the full product line offered by ELOGEN, ranging from 0.5 MW up to 5.0 MW for all of CHARBONE’s North American green hydrogen projects.
ELOGEN will also supply certain services related to the installation, commissioning, start-up, and the operation and maintenance services, while training CHARBONE’s personnel to complete those tasks locally. Furthermore, the Agreement contains a provision for CHARBONE and ELOGEN to consider and exercise the option for locally assembling the PEM electrolyzers in Canada and the USA.
“This multi-year master supply agreement with ELOGEN is one of the most important milestones for CHARBONE and, we believe, the whole green hydrogen industry in North America. With this Agreement, we just secured our electrolyzer supply chain for the numerous projects that we have announced and the others that we are currently developing in our project portfolio. No other green hydrogen Canadian producers have yet announced such an agreement,” said Dave Gagnon, CEO and Chairman of Charbone. “The dynamism and combined strengths of ELOGEN and CHARBONE form a solid and strong team for the start of the energy transition and the decarbonization of the Canadian and North American economy.”
Jean-Baptiste Choimet, Managing Director at Elogen comments: “This contract is consistent with our strategy to forge partnerships with strong local players. We are delighted with this collaboration with CHARBONE, a company focused on innovation, with which we share an ambitious vision regarding the development of green hydrogen production.”
About CHARBONE
CHARBONE is a Canadian green hydrogen group established in North America. The company’s strategy is to develop modular and expandable hydrogen facilities and regional hubs. With the acquisition of hydroelectric power plants in the United States and Canada, Charbone will be able to produce green dihydrogen molecules using reliable and sustainable energy in order to distinguish itself as a supplier of an ecological solution for industrial and commercial companies.
About Elogen
Elogen, a technological expert at the service of green hydrogen, is developing advanced technologies to design and produce PEM (Proton Exchange Membrane) electrolyzers to meet new uses of hydrogen in mobility, industry and energy storage. Elogen, a GTT technology group company, relies on a powerful R&D and a robust manufacturing process to provide its customers with competitive, reliable systems tailored to their needs. The technological solutions developed by Elogen, particularly suited to renewable energies, demonstrate superior efficiency and competitiveness.
More information on elogenh2.com
Contact: contact@elogenh2.com
About GTT
GTT is a technological expert in containment systems with cryogenic membranes used to transport and store liquefied gases. For over 50 years, GTT has been designing and providing cutting-edge technologies for a better energy performance, which combine operational efficiency and safety, to equip LNG carriers, floating terminals, land storage, and multi-gas carriers. GTT also develops systems dedicated to the use of liquified natural gas as fuel, as well as a full range of services, including digital services in the field of smart shipping. GTT is also active in hydrogen through its subsidiary Elogen, which designs and assembles electrolyzers notably for the production of green hydrogen. GTT is listed on Euronext Paris, Compartment A (ISIN FR0011726835 Euronext Paris: GTT) and is notably included in SBF 120 and MSCI Small Cap indices.
More information on gtt.fr.
Media contact: press@gtt.fr
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”, “plan”, “likely”, or similar words. The forward-looking statements reflect Charbone’s respective 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
For further information, please contact:
Dave B. Gagnon Daniel Charette Chief Executive Officer and Chairperson of Chief Operating Officer the Board
CHARBONE Hydrogen Corporation CHARBONE Hydrogen Corporation
Telephone: +1 450 678-7171 Telephone: +1 450 678-7171 Email: dg@charbone.com Email: dc@charbone.com
Brossard, Québec, November 16, 2022 – CHARBONE HYDROGEN CORPORATION (TSXV:CH) (“Charbone”) is pleased to announce the execution of a Memorandum of Understanding dated November 15, 2022 (the “MOU”) with Telesystem Energy Ltd. (“Telesystem”) for the mutual cooperation, development, design, construction, and operation of a n initial riverbed hydrokinetic project showcasing Telesystem’s TE-1 power system ( the “Project”) to support green hydrogen production.
Charbone and Telesystem will subsequently negotiate the terms and conditions of a definitive agreement (the “Agreement”) for a first project to be selected by the two partners using the TE-1 power system, either to be implemented at one of Charbone’s hydropower generation plants to increase its revenue under an existing power purchase agreement from the energy supplied by the TE-1 power system, or as a stand alone project to be implemented into a region where Charbone is planning to develop and build a green hydrogen facility.
Charbone will use its expertise in the development, construction, and operation of renewable power systems, while Telesystem will use its expertise to support Charbone in the selection of an appropriate location and will provide a differentiated renewable power generation technology in the TE-1 power system. The Project is intended to showcase TE-1’s low-cost renewable baseload power production which captures energy through water current reliably and at high-capacity factor, and without any in river civil works. The TE-1 power system has been designed using established and commercially proven components, integrated with proprietary Telesystem innovation, resulting in what the parties believe is a revolutionary river hydrokinetic power system.
“The collaboration with Telesystem Energy and the Sirois family to supply renewable baseload energy through the implementation of a state-of-the-art technology developed over the past 7 years, with what we believe has significant global potential, is a new strategic milestone for Charbone,” said Dave B. Gagnon, Chairman and CEO of Charbone. “The need for green hydrogen powered with renewable baseload energy is increasing in many areas where no hydropower dams are installed, and the ability to leverage the TE-1 technology in rivers, canals, and some of the 80,000 North American non-powered dams is a significant opportunity for Charbone”.
“We are pleased to team up with Charbone to provide renewable baseload energy in the production of green hydrogen. Our TE-1 renewable baseload power system coupled with Charbone’s hydrogen capabilities are mutually beneficial and will provide a unique and complete solution in producing green hydrogen” said Denis M. Sirois, CEO of Telesystem Energy. “Charbone’s deep energy expertise and ambitious strategic plan aligns Telesystem Energy as a preferential partner.”
About Charbone Corporation Hydrogen
Charbone is a Canadian green hydrogen company established in North America. The company’s strategy consists of developing modular and expandable hydrogen facilities. Through the acquisition of hydropower plants in the United States and in Canada, Charbone intends to produce green dihydrogen molecules using reliable and sustainable energy to distinguish itself as a supplier of an environmentally friendly solution for industrial and commercial companies.
About Telesystem Energy
Telesystem Energy Ltd is a cleantech company which has designed the world’s most efficient, and reliable hydrokinetic system, which produces renewable baseload power at low cost. The Telesystem Energy TE-1 power system produces electricity by converting kinetic energy from water currents to electrical energy, requiring no in-water civil works (i.e. dams or river diversion), while benefiting from the smallest installed footprint and lowest environmental impact of all currently commercialized energy solutions.
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 “will”, “intends”, “anticipates”, “expects”, “believes”, “plans”, “likely”, or similar words. Specifically, this news release includes forward-looking statements regarding certain statements regarding Charbone’s future product developments, and markets, including with respect to specific indications, and any other statements which are other than statements of historical fact and the expected timing of such events. The forward-looking statements reflect Charbone’s respective 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. 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, and the ability of Charbone and Telesytem to enter into a mutually acceptable Agreement in respect of the Project.
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
Dave B. Gagnon Daniel Charette Chief Executive Officer and Chairperson of Chief Operating Officer the Board
CHARBONE Hydrogen Corporation CHARBONE Hydrogen Corporation
Telephone: +1 450 678-7171 Telephone: 1 514 980 5841 Email: dg@charbone.com Email: dc@charbone.com
Denis M. Sirois Graham Schmidt Chief Executive Officer Chief Financial Officer
Telesystem Energy Ltd. Telesystem Energy Ltd.
Telephone: +1 514 397 8464 Telephone: +1 514 228 5195 Email: dmsirois@telesystemenergy.com Email: g.schmidt@telesystemenergy.com
Brossard, Québec, November 8, 2022 – Charbone Hydrogen Corporation (TSXV:CH) (“Charbone”) is pleased to announce the execution, as of November 7, 2022, of a lease (the “Lease”) between its wholly-owned subsidiary, Charbone Hydrogen Manitoba Inc. (“Charbone Manitoba”), and the City of Selkirk, Manitoba pursuant to which Charbone Manitoba is leasing from the City of Selkirk a land parcel of 4.6 acres located west of the City of Selkirk’s decommissioned wastewater treatment plant (the “Premises”). Under the terms of the Lease, Charbone Manitoba will design, construct, and operate the first green hydrogen regional hub in Manitoba for the production and distribution facility for the supply of green hydrogen. Accordingly, Charbone and its distribution partner Superior Propane (a subsidiary of Superior Plus) will leverage their mutual expertise in the sale and distribution of green dihydrogen into Manitoba and the Canadian Prairies.
The term of the Lease is for three years commencing on November 1st, 2022 (the “Term”), subject to the terms and conditions set forth in the Lease. Charbone Manitoba shall have the option to renew the Term for a renewal term of up to two subsequent years on the same terms and conditions that are set out in the Lease. The parties will negotiate either to extend the Lease and the size of the leased Premises at the same location or negotiate a relocation within the City of Selkirk’s industrial park.
Charbone has completed and filed the required Manitoba Environmental Act Proposal Form and will soon start the selection process for an environmental assessment engineering firm to prepare all of the required environmental assessment studies and reports to be submitted under the Manitoba Environmental Act. In parallel, Charbone will initiate the financing, design and engineering of the facility for the initial phase 1, with the goal of targeting commercial operations and initial deliveries as early as the fourth quarter of 2023. Charbone intends to use the “re-water” from the actual wastewater treatment plant and to provide residual oxygen to the City of Selkirk’s wastewater pound, thus creating a circular water economy.
Charbone is also the initiator and one of the founders of the Manitoba Green Hydrogen Roundtable that now welcomes over twenty local stakeholders interested in the decarbonisation of the Manitoba economy on diverse sectors such as industrial applications and processes, light, medium and heavy transportation as well as the future aviation sector.
“This is a very exciting achievement for Charbone to finalize the lease with the City of Selkirk and launch the environmental assessment process on our second green hydrogen production facility in Canada,” said Dave B. Gagnon, Chairman and CEO of Charbone. “The number of opportunities and projects using hydrogen that are arising from Charbone’s initiative of producing green hydrogen locally from the City of Selkirk, the government of Manitoba and from the Premier and her team are an incredible motivation for Charbone to continue to participate in the development of the Manitoban green hydrogen ecosystems and to support the transition of its economy towards a greener and more sustainable model.”
“The location of Charbone’s green hydrogen project in the City of Selkirk is a true milestone and clearly shows that Manitoba is the place to invest as the world shifts to a low carbon economy,” said Cliff Cullen, Manitoba Minister of Economic Development, Investment and Trade. “As this project advances, we look forward to more jobs and new opportunities as Manitoba continues its work to realize its full potential to provide reliable and sustainable energy to the world”.
“The signing of this agreement brings us one step closer to securing Manitoba’s first hydrogen production facility. As a green hydrogen producer, Charbone is in lockstep with Selkirk’s commitment to sustainable growth. The facility will result in local jobs and contribute to a stronger and stable local economy by stimulating innovation and growth in this evolving sector”, said Selkirk’s Director of Sustainable Development, Tim Feduniw.
“Selkirk is becoming recognized as a major contributor to Manitoba’s circular economy by working with and attracting green industry with the ability to support existing companies, attract new investment and provide employment opportunities as market demand for carbon-free energy alternatives continues to increase. Sustainable, intentional growth is at the core of what we do here and we’re looking forward to new partnerships, new investments, and a clean and green future.”
About Charbone
Charbone is a Canadian green hydrogen company established in North America. The company’s strategy consists in developing modular and expandable hydrogen facilities. Through the acquisition of hydropower plants in the United States of America and Canada, Charbone intends to produce green dihydrogen molecules using reliable and sustainable energy to distinguish itself as a supplier of an environmentally friendly solution for industrial and commercial companies.
About the City of Selkirk
The City of Selkirk, Manitoba is a small progressive city located on the banks of the Red River with a population of approximately 11,000. The city has demonstrated leadership in taking action against climate change, has made the right investments and positioned themselves to attract sustainable development and welcome new business.
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. Specifically, this news release includes forward-looking statements regarding Charbone’s expected commercialization and supply and logistics business opportunities related to green hydrogen, the expected completion of the City of Selkirk production and distribution facility, the negotiation and completion of the definitive agreements between Charbone Manitoba and the City of Selkirk and the expected timing of such events. The forward-looking statements reflect Charbone management’s respective 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. Among the key factors that could cause actual results to differ materially: whether Charbone Manitoba and the City of Selkirk are successful in negotiating and entering the definitive agreements and whether the City of Selkirk production and distribution facility will be constructed and operational in the anticipated time frame or at all.
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
For further information, please contact:
Dave B. Gagnon Daniel Charette Chief Executive Officer and Chairperson Chief Operating Officer of the Board
CHARBONE Hydrogen Corporation CHARBONE Hydrogen Corporation
Telephone: +1 450 678-7171 Telephone: +1 514 980 5841 Email: dg@charbone.com Email: dc@charbone.com
Brossard, Québec, October 11, 2022 – CHARBONE HYDROGEN CORPORATION (TSXV:CH) (“Charbone”) is pleased to announce that it has concluded the final negotiations and executed a Purchase and Sale Agreement (the “PSA”), dated as of October 7, 2022, between its wholly-owned subsidiary, Charbone Corporation USA (“Charbone USA”) and NORTHWOODS HYDROPOWER INC. (“Northwoods”), for the acquisition of all of the general partner and limited partner interests of Wolf River Hydro Limited Partnership (“Wolf River”), the owner of the 700 kW operating hydropower plant in Shawano, Wisconsin. The purchase price for the acquisition is $700,000 USD, subject to adjustments.
The terms and conditions of the PSA stipulate that the acquisition of Wolf River is to be closed on or before November 15, 2022, subject to customary closing conditions. Concurrently, Charbone and Northwoods will negotiate PSAs for the Tower Kleber Limited Partnership and the Black River Limited Partnership (collectively, the “Limited Partnerships”), with the acquisition of the Limited Partnerships to be concluded on or before December 15, 2022. The Limited Partnerships have the capacity to produce 2,760 kW of hydropower. The operating hydropower plants owned by the Limited Partnerships are each located in the Onaway region of Michigan and will be financed independently of the Shawano hydropower plant owned by Wolf River.
The acquisition of Wolf River is being financed in part through a private placement by Charbone of an aggregate principal amount of $1.2 million CAD of 14% secured convertible debentures maturing on October 7, 2024 (the “Debentures”) to four arm’s length investors led by FINEXCORP. The Debentures were accompanied by an aggregate of 3,000,000 common share purchase warrants (the “Warrants”), with each Warrant exercisable to acquire one additional common share in the capital of Charbone, at a price per share of $0.60 CAD, for a period of 24 months. The Debentures bear interest at a rate of 14% per annum payable quarterly in arrears on the last day of March, June, September, and December in each year until the maturity date. The first interest payment will be made at the end of the first calendar quarter following the closing date (the “Initial Interest Payment Date”) and will consist of interest accrued from and including the closing date to the Initial Interest Payment Date. The Debentures’ aggregate principal amount of $1.2 million CAD is convertible into an aggregate of up to 3,000,000 common shares of Charbone, at a conversion price per share of $0.40 CAD, until the maturity date. The Debentures are secured by way of a pledge of the securities held by Charbone USA in its operating subsidiaries that own hydropower plants.
In addition to the acquisition of Wolf River, proceeds from the sale of the Debentures and Warrants will be used for the advancement of Charbone’s development initiatives and for general working capital purposes. Charbone did not pay any commission or finder’s fee in connection with the private placement. The Debentures and Warrants are subject to a restrictive legend expiring after four months and one day, as required by applicable securities laws and the policies of the TSX Venture Exchange. The private placement is subject to final acceptance by the TSX Venture Exchange.
The Limited Partnerships are parties to long-term power purchase agreements with large local utilities that are expected to generate recurrent revenues for Charbone USA in Q4-2022. Charbone’s strategy is to acquire its own hydropower plants, modernize and optimize them in order to increase their respective production capacities and, consequently, the value of the assets for Charbone and its shareholders, and to further assist Charbone with its deployment of a green hydrogen regional hub.
Charbone plans to develop and construct modular and scalable green hydrogen production facilities in both Wisconsin and Michigan within the next few years. All plants boast sufficient land space to accommodate green hydrogen facilities or increase capacities through automation and modernization of the facilities with newer hydro turbines and other technologies that would allow Charbone USA to produce power at one end and then transmit its own power via utilities’ power lines, subject to a transmission fee, to a hydrogen production facility in a large industrial or urban centre near the end-users of that hydrogen.
The Northwoods management and operation teams have agreed to continue to perform their duties under Charbone’s ownership and will assist Charbone’s engineering team in implementing optimization, modernization, and automation projects at each of the plants. Charbone aims to be one of the first green hydrogen producers in the Midwestern United States.
“This acquisition is the first step in Charbone’s strategy to enter the Midwest. This hydropower plant is in the heart of the famous US “rust-belt” around the Great Lakes, where the green hydrogen we produce will be used both in steel production and, in the near future, for heavy mobility,” said Dave B. Gagnon, Chairman and CEO of Charbone. “Charbone’s strategy to produce, in part, its own renewable energy and procure locally from local utilities or from Independent Power Producers (IPP’s) gives Charbone not only a competitive advantage in pricing, but also provides us with leverage to negotiate better rates for the available renewable energies in those regions.”
About Charbone
Charbone is a Canadian green hydrogen company established in North America. The company’s strategy consists of developing modular and expandable hydrogen facilities. Through the acquisition of hydropower plants in the United States and in Canada, Charbone intends to produce green dihydrogen molecules using reliable and sustainable energy to distinguish itself as a supplier of an environmentally friendly solution for industrial and commercial companies.
About Northwoods
Northwoods, Wolf River Hydro Limited Partnership, Tower Kleber Limited Partnership and Black River Limited Partnership are U.S. based businesses, wholly owned by a Canadian family, that have been operating the Michigan and the Wisconsin hydropower plants for over 20 years.
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. Specifically, this news release includes forward-looking statements regarding Charbone’s expected revenues to be generated by the acquisition of the Limited Partnerships, the negotiation and completion of the PSAs between Charbone USA and each of the Limited Partnerships, other statements regarding future product developments, and markets, including with respect to specific indications, and any other statements which are other than statements of historical fact and the expected timing of such events. The forward-looking statements reflect Charbone 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 each respective statement is 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. Among the key factors that could cause actual results to differ materially: whether Charbone USA and each of the Limited Partnerships are successful in negotiating and entering the PSAs and the availability of substantial capital in the future to fund its operations. The forward-looking statements may be affected by risks and uncertainties in the business of Charbone.
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
Dave B. Gagnon Daniel Charette Chief Executive Officer and Chairperson of Chief Operating Officer the Board
CHARBONE Hydrogen Corporation CHARBONE Hydrogen Corporation
Telephone: +1 450 678-7171 Telephone: +1 514 980-5841 Email: dg@charbone.com Email: dc@charbone.com
Brossard, Québec, September 27, 2022 – CHARBONE HYDROGEN Corporation (TSXV:CH) (“Charbone”) is pleased to announce the execution, as of August 16, 2022, of an agreement to lease (the “Lease”) an office space and associated office services with “The PIER” at the Halifax Seaport. The PIER, a center for port innovation, planning and strategy, has been established by the Halifax Port Authority and is a sector-focused living lab for maritime transportation and logistics.
Halifax was seen as the perfect mid-sized city and port to host “The PIER”, with its burgeoning innovation ecosystem. Halifax has been growing its innovation capacity through its post-secondary institutions such as Dalhousie’s leading scientific research in marine shipping research, big data, and maritime policy.
For Charbone, “The PIER” is the perfect place to locate its basecamp for the deployment of modular and expandable green hydrogen regional hubs in the Atlantic Canada provinces, where the current renewable energy production sector represents a bright future for the production and the use of green hydrogen, as well as the export of green hydrogen in the medium term, after having decarbonized its own economy.
Charbone’s first expected presence in the Atlantic Canada provinces was recently announced on June 21, 2022, following the execution of a memorandum of understanding with Port Hawkesbury Paper, LP to develop and construct a green hydrogen production facility at the Port Hawkesbury Mill Site, Nova Scotia. The definitive agreement and the long-term lease are currently under negotiation between the parties and shall be concluded before the end of the year. The project is expected to consist of an initial installation of a 0.5-megawatt production unit to create the initial momentum and to supply its green hydrogen on newly develop utilization projects.
“Charbone is excited to join this living lab, which represents growing opportunities in the Atlantic region for port and marine purposes,” said Dave B. Gagnon, Chairman and CEO of Charbone. “The PIER” represents for us our commitment to decarbonize, one step at the time, each sector of our economy. At Charbone, we value all the partners who have chosen to set a business office at “The PIER”. For us, its a major opportunity to network and make a real change in Halifax and the Atlantic region”.
About Charbone Corporation Hydrogen
Charbone is a Canadian green hydrogen company established in North America. The company’s strategy consists of developing modular and expandable hydrogen facilities. Through the acquisition of hydropower plants in the United States and in Canada, Charbone intends to produce green dihydrogen molecules using reliable and sustainable energy to distinguish itself as a supplier of an environmentally friendly solution for industrial and commercial companies.
About “The PIER”
“The PIER is a global showcase for sector innovation in transportation, supply chain and logistics. Through bringing together a complementary mix of operating partners, innovators, tech companies and researchers, The PIER creates a context where partners collaborate, innovate and tackle persistent industry problems that no one party can solve.”
www.thepierhfx.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. Specifically, this news release includes forward-looking statements regarding certain statements regarding Charbone’s future product developments, and markets, including with respect to specific indications, and any other statements which are other than statements of historical fact and the expected timing of such events. The forward-looking statements reflect Charbone’s respective 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. Among the key factors that could cause actual results to differ materially: the availability of substantial capital in the future to fund Charbone’s operations. The forward-looking statements may be affected by risks and uncertainties in the business of Charbone.
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
Dave B. Gagnon Daniel Charette Chief Executive Officer and Chairperson of Chief Operating Officer the Board
CHARBONE Hydrogen Corporation CHARBONE Hydrogen Corporation
Telephone: +1 450 678-7171 Telephone: 1 514 980 5841 Email: dg@charbone.com Email: dc@charbone.com
Brossard, Quebec, September 26, 2022 – CHARBONE HYDROGEN CORPORATION (TSXV:CH) (“Charbone”) is pleased to announce the signature of a memorandum of understanding with CORPORATION DE GESTION DU PORT DE BAIE-COMEAU (the “Port of Baie-Comeau” or the “Port”) and the CITY OF BAIE-COMEAU (the “City of Baie-Comeau” or the “City”), effective September 26, 2022, in order to initiate discussions with a view to the eventual conclusion of a definitive agreement (the “Definitive Agreement”) for the development of a green hydrogen project (the “Planned Partnership”) comprising Charbone’s green hydrogen production and distribution systems, with an initial capacity of 0.5 megawatts (“MW”) or greater, to be located within or near the Baie-Comeau industrial-port zone. The City also owns its own electrical distribution network, which will facilitate the integration of a modular plant with the potential for capacity expansion that could lead to export outside the region.
The parties anticipate that the Definitive Agreement will focus first on the creation of a local ecosystem for the production, distribution, and use of green hydrogen, confirming the positioning of the Port of Baie-Comeau and the City of Baie-Comeau as pioneers and leaders in the use of this innovative energy source in a port, maritime and industrial environment. The Port of Baie-Comeau and the City of Baie-Comeau will organize meetings with local businesses to assess current and future decarbonization needs, in addition to participating in the creation of a regional discussion table bringing together Charbone, the Port of Baie-Comeau and the City of Baie-Comeau, as well as local, provincial, and federal stakeholders, and the academic community.
“Charbone is determined to create the first regional ecosystems and to participate in the energy and economic transition of the regions,” said Dave B. Gagnon, Chief Executive Officer and Chairman of the Board of Directors of Charbone. “This agreement with the Port and the City of Baie-Comeau is yet another milestone, proving Charbone’s model of development and progressive deployment, and it is not the last.”
The Port of Baie-Comeau and its industrial-port zone intends to be among the country’s strategic hubs for the production of green hydrogen. Through this agreement, the Port intends to help create an innovative industrial cluster around this green energy, making it possible to meet the energy needs of the North Shore.
The city of Baie-Comeau believes in the future of alternative energies and in the potential of this emerging sector in Quebec. We wish to be a facilitator for the realization of projects promoting the establishment of a green hydrogen hub in Baie-Comeau.
About Charbone Hydrogen Corporation
Charbone is a Canadian green hydrogen company established in North America. The company’s strategy is to develop modular and scalable hydrogen production facilities. Through the acquisition of hydroelectric plants in the United States and Canada, Charbone intends to produce green dihydrogen molecules from reliable and sustainable energy to distinguish itself as a supplier of an environmentally friendly solution for industrial and commercial enterprises.
About Corporation de gestion du Port de Baie-Comeau
The Port of Baie-Comeau is located in Quebec, on the North Shore of the St. Lawrence River, near the mouth of the Manicouagan River in English Bay. This deep-water, ice-free port currently counts on the presence of major global players in the raw and processed materials sector, namely Cargill and Alcoa. The Port also provides logistics services for the mining and manufacturing industry in Northeastern Quebec and is connected to the national rail network leading to the American Midwest and all major domestic markets. Its goal as a port is to increase its ability to be an export hub for manufactured goods, natural resources, mining products, grains and the green energy industry. In addition, it is developing its industrial-port area to attract new customers that are part of a carbon-free future. In addition, the Port supports the heavily congested St. Lawrence Seaway and Great Lakes port network. The federal government and the government of Quebec recently allocated $15 million to carry out a feasibility study for the construction of a new railway line that would connect the industrial port area of Baie-Comeau to Dolbeau-Mistassini.
About the City of Baie-Comeau
The City of Baie-Comeau, an industrial-port city where pride and prosperity flourish, is located in the heart of the Manicouagan-Uapishka World Biosphere Reserve recognized by UNESCO. The City seeks to become a model of attractiveness and belonging to northern regions by putting forward a modern vision of sustainable economic development. It is looking for successful, responsible industrialists with strong environmental performance, particularly in the sectors of green metallurgy, alternative energies, forest fibre valorization, and critical and strategic minerals.
Forward-Looking Statements
This press release contains statements that are “forward-looking information” within the meaning of Canadian securities laws (“forward-looking statements”). These forward-looking statements can often be identified by the words “intend”, “expect”, “anticipate”, “believe”, “plan”, “estimate” or other similar terms. Specifically, this press release contains forward-looking statements regarding the anticipated marketing, sale and distribution of green hydrogen from Charbone, the negotiation and conclusion of the Definitive Agreement, the establishment of the Planned Partnership, the ability of Charbone to produce hydrogen, the planned completion of the Charbone production plant in the City of Baie-Comeau, other statements regarding future product development and markets, including with respect to specific indications , and any other statements that are not statements of historical fact, and the anticipated timing of such events. Forward-looking statements reflect the expectations, estimates or projections of Charbone’s management regarding future results or events, based on the opinions, assumptions and estimates considered reasonable by management as of the date the statements are made. Although Charbone believes that the expectations reflected in 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 unforeseeable factors could cause actual results to differ materially from those reflected in the forward-looking statements. Key factors that could cause actual results to differ materially from the forward-looking statements include: whether Charbone, the Port of Baie-Comeau and the City of Baie-Comeau are successful in negotiating and entering into the Definitive Agreement and in the establishment of the Planned Partnership, as well as the time limits provided for such purposes, and the availability of the capital necessary to finance Charbone’s activities in the future. Forward-looking statements may be affected by risks and uncertainties related to Charbone’s business.
Except as required by applicable securities laws, Charbone does not intend and undertakes no obligation to update or revise any forward-looking statements.
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
Dave B. Gagnon Daniel Charette Chief Executive Officer and Chairman of the Chief Operating Officer Board
CHARBONE Hydrogen Corporation CHARBONE Hydrogen Corporation
+1 450 678-7171 +1 514 980 5841 dg@charbone.com dc@charbone.com
Steve Berthiaume Corporate Affairs Coordinator Port of Baie-Comeau 418-295-8004 sberthiaume@portbcomeau.ca
Brossard, Québec, August 30, 2022 – CHARBONE HYDROGEN Corporation (TSXV:CH) (“Charbone”) is pleased to announce, as of August 29, 2022, it has received notice from Superior Propane (“Superior Propane”), a division of Superior Plus LP (TSX:SPB) (Superior Propane, collectively with Charbone the “Parties”) confirming the exercise by Superior Propane of its option to enter into a supply arrangement with Charbone for the supply, marketing, sale and distribution of green hydrogen to commercial and industrial customers from Charbone’s newly proposed and announced green hydrogen facility located in the Winnipeg area, more precisely in the City of Selkirk, Manitoba, Canada. This option was exercised by Superior Propane pursuant to the existing supply agreement (the “Definitive Agreement”) executed by the Parties on May 5, 2022, for the supply, marketing, sale and distribution of green hydrogen from the Charbone’s Sorel-Tracy, Québec, Canada facility.
According to the existing Definitive Agreement, Superior Propane (or one of its affiliates) and Charbone will negotiate a new definitive agreement (the “MB Definitive Agreement”), specifically between Charbone Hydrogen Manitoba Inc. (“Charbone MB”), a fully owned subsidiary of Charbone. Manitoba represents a great market for the green hydrogen production as Manitoba’s electricity network is majorly based on available and reliable hydroelectric production and as well as one of the lowest renewable energies in Canada, that positively position the province has a producer of green hydrogen using electrolysis process. Furthermore, many recent projects announcements in the province on green mobility have been made.
Both, Charbone and Superior Propane are founding members of the Manitoba Green Hydrogen Roundtable, created April 13, 2022, with municipal, provincial, and local stakeholders to promotes the deployment and the uses of green hydrogen in Manitoba. For more information on the partnership between Charbone and the City of Selkirk, see the press release dated June 15, 2022.
“Charbone is delighted that its main sales & distribution partner has decided to execute its option of continuing to support Charbone in its development of modular and scalable green hydrogen production in our first western Canada project” said Dave B. Gagnon, Chairman and CEO of Charbone. “Superior Propane has a large network of distribution centres in Canada and we do wish to continue our growths in other Canadian markets with the Superior Propane professional and committed sales and operations teams across Canada and maybe south of the border as well.”
“We are excited to continue our partnership with Charbone in Manitoba. The green hydrogen produced at the Selkirk facility will allow us to sell cost-effective green energy to customers in Manitoba, furthering our strategy to offer alternative energy products to our customers using our existing distribution network” said Rick Carron, President of Superior Propane.
About Charbone Hydrogen Corporation
Charbone is a Canadian green hydrogen company established in North America. The company’s strategy consists of developing modular and expandable hydrogen facilities. Through the acquisition of hydropower plants in the United States and in Canada, Charbone intends to produce green dihydrogen molecules using reliable and sustainable energy to distinguish itself as a supplier of an environmentally friendly solution for industrial and commercial companies.
About Superior Propane
Superior Propane has been Canada’s leader and trusted propane supplier for 70 years. Superior Propane has the largest distribution network to serve homes and businesses virtually anywhere in the country. Superior Propane is changing the propane industry by offering digital solutions that make managing propane easier and more convenient for our customers.
Headquartered in Mississauga, Ontario, Superior Propane employs more than 1,500 people and delivers over 1.5 billion liters of propane annually. The corporation operates a distribution network of approximately 200 locations, strategically located to serve customers from coast-to-coast. As part of the Energy Distribution division of Superior Plus LP, Superior Propane is able to provide dependable energy solutions through the procurement and delivery of a secure propane supply.
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. Specifically, this news release includes forward-looking statements regarding Charbone’s expected commercialization and supply and distribution of green hydrogen, the negotiation and completion of the MB Definitive Agreement between Charbone Hydrogen Manitoba Inc. and Superior Propane, Charbone’s capacity of producing hydrogen, expected completion of Charbone’s City of Selkirk production facility, other statements regarding future product developments, and markets, including with respect to specific indications, and any other statements which are other than statements of historical fact and the expected timing of such events. The forward-looking statements reflect Charbone’s respective 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. Among the key factors that could cause actual results to differ materially: whether Charbone Hydrogen Manitoba Inc. and Superior Propane are successful in negotiating and entering the MB Definitive Agreement and the availability of, substantial capital in the future to fund its operations. The forward-looking statements may be affected by risks and uncertainties in the business of Charbone.
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
the Board
CHARBONE Hydrogen Corporation CHARBONE Hydrogen Corporation
Telephone: +1 450 678-7171 Email: dg@charbone.com
Brossard, Québec, August 17, 2022 – CHARBONE HYDROGEN Corporation (TSXV:CH) (“Charbone”) is pleased to announce the execution, as of August 16, 2022, of a non-binding memorandum of understanding (the “MOU”) between its fully owned subsidiary, Charbone Corporation USA (“Charbone USA”), and NORTHWOODS HYDROPOWER INC.(“Northwoods”), pursuant to which the parties are entering into discussion and negotiation for the acquisition by Charbone USA of the Wolf River Hydro Limited Partnership, which own a 700 kW operating hydropower plant in Shawano, Wisconsin.
Further to the acquisition by Charbone USA of the Wolf River Hydro Limited Partnership, Charbone USA will complete and update its due diligence on the Tower Kleber Limited Partnership and the Black River Limited Partnership (collectively with the Wolf River Hydro Limited Partnership, the “Limited Partnerships”), consisting of a total of 2,760 kW portfolio of three operating hydropower plants located in the Onaway region in Michigan.
The terms and conditions for the acquisition of each of the Limited Partnership will be in the form of a purchase & sale agreement to be concluded for each of the Limited Partnerships (the “PSA’s”). The parties wish to conclude a PSA and close the acquisition of each Limited Partnership in stages, starting with the acquisition of the Wolf River Limited Partnership to be concluded on or before November 15, 2022, and the acquisition of the two remaining Limited Partnerships to be concluded on or before December 15, 2022.
The Limited Partnerships are parties to long-term power purchase agreements (the “PPA’s”) with large local utilities and are expected to provide Charbone USA with recurrent revenues starting in Q4-2022. Charbone’s strategy is to acquire its own hydropower plants and to modernize and optimize them in order to increase the production and the value of the assets for its shareholders, and further assist Charbone with its deployment of a green hydrogen regional hub.
Charbone brings to the table its expertise in the development and the construction of modular and scalable facilities dedicated to the production of green hydrogen. All plants provide access to Charbone for land space so as to accommodate the green hydrogen facilities while Charbone believes that the actual capacities of the existing plants can be increased by the automation and modernization of the facilities with newer hydro turbine technologies.
Northwoods management and operation team have agreed to continue to perform their duties under Charbone ownership and will work and assist Charbone’s engineering team to implement optimisation, modernization, and automation projects at each of the plants. Charbone intends to be one of the first green hydrogen producer in the Midwestern United States.
“Charbone is pursuing its original plans to acquire hydropower plants to support its green hydrogen regional hubs that will grow with the market in specific regions where we believe there is an actual industrial market for hydrogen. They are high quality assets that can be modernized and optimized so as to increase the value of such assets will secure a reliable and consistent revenue stream for Charbone as well as unlock good pricing baseload energy with low operating costs to produce green hydrogen,” said Dave B. Gagnon, Chairman and CEO of Charbone. “Charbone’s model is unique, with its capabilities of managing low-cost renewable and reliable infrastructure energy sources. This supports Charbone in its work to prepare for the renewable energy industry transition toward local production of green hydrogen with a limited cost of transportation to the market”.
About Charbone
Charbone is a Canadian green hydrogen company established in North America. The company’s strategy consists of developing modular and expandable hydrogen facilities. Through the acquisition of hydropower plants in the United States and in Canada, Charbone intends to produce green dihydrogen molecules using reliable and sustainable energy to distinguish itself as a supplier of an environmentally friendly solution for industrial and commercial companies.
About Northwoods
Northwoods, Wolf River Hydro Limited Partnership, Tower Kleber Limited Partnership and Black River Limited Partnership are U.S. based businesses, wholly owned by a Canadian family, that have been operating the Michigan and the Wisconsin hydropower plants for over 20 years.
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. Specifically, this news release includes forward-looking statements regarding Charbone’s expected revenues to be generated by the acquisition of the Limited Partnerships, the negotiation and completion of the PSA’s between Charbone USA and each of the Limited Partnerships, other statements regarding future product developments, and markets, including with respect to specific indications, and any other statements which are other than statements of historical fact and the expected timing of such events. The forward-looking statements reflect Charbone’s respective 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. Among the key factors that could cause actual results to differ materially: whether Charbone USA and each of the Limited Partnerships are successful in negotiating and entering the PSAs and the availability of, substantial capital in the future to fund its operations. The forward-looking statements may be affected by risks and uncertainties in the business of Charbone.
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
Dave B. Gagnon Daniel Charette Chief Executive Officer and Chairperson of Chief Operating Officer the Board
CHARBONE Hydrogen Corporation CHARBONE Hydrogen Corporation
Telephone: +1 450 678-7171 Telephone: 1 514 980 5841 Email: dg@charbone.com Email: dc@charbone.com
Brossard, Québec, August 16, 2022 – CHARBONE HYDROGEN Corporation (TSXV:CH) (“Charbone”) is pleased to announce that its fully owned subsidiary, CHARBONE Systems Inc. (“Charbone Systems”) entered into a non-binding Term Sheet (the “TS”) with Resato Hydrogen Technology B.V. (“Resato”), for the exclusive sales, marketing, distribution and servicing of Resato’s Hydrogen Refueling Stations (the “HRS”) technologies for the Canadian market. Charbone System will be initially importing the HRS from Europe and would have an option to extend the agreement to acquire the rights to manufacture and assemble the HRS locally in Canada under Resato trademark.
Charbone continues its mission to develop and create sustainable “ecosystems” and local markets with its vision of modular and scalable regional hubs dedicated to the production and distribution of green hydrogen, while concurrently developing partnerships with hydrogen related Original Equipment Manufacturers (the “OEM”), technology suppliers, existing hydrogen users, and participating in innovations in new usages and processes to reduce greenhouses gas effects on our day-to-day life.
Under the TS, Charbone will dedicate resources towards a professional marketing and sales team for the Canadian market, and create partnership with local companies for the operation, maintenance, and services of the HRS. Resato will train and supervise Charbone Systems teams. Charbone will be responsible for the engineering and the adaptation to the Canadian, provincials’ and other stakeholders codes and regulations on behalf of Resato. Completion of the transaction, as specified in the non-binding TS, is subject to further negotiation and execution of a definitive agreement.
“I’m delighted that we have succeeded at Charbone in partnering with such an experienced and skilled company in Hydrogen Refuelling Technology.” said Dave B. Gagnon, Chairman and CEO of Charbone. “Charbone’s ability to promote its model in the North American markets to an international and credible partner such as Resato and bring their high quality and efficient HRS technology to Canada will be instrumental for the building of the Canadian hydrogen ecosystem.”
“We are pleased to expand our activities to Canada with such an innovative partner. The Charbone team has over 40 years of experience in fabricating, assembling, and manufacturing modular and complex systems,” said Robert T.P. Castien, CEO and Co-Owner of Resato. “Charbone has the right approach to the development of the green hydrogen ecosystem. Their vision is supported by an incredible amount of contagious energy, and we are a solid fit.”
About Charbone
Charbone is a Canadian green hydrogen company established in North America. The company’s strategy consists in developing modular and expandable hydrogen facilities. Through the acquisition of hydropower plants in the United States of America and Canada, Charbone intends to produce green dihydrogen molecules using reliable and sustainable energy to distinguish itself as a supplier of an environmentally friendly solution for industrial and commercial companies.
About Resato
Resato Hydrogen Technology is a Dutch technology leader that supports the development of the hydrogen economy with their Hydrogen Refueling Stations. With more than 30 years of experience in high-pressure technology, Resato has the expertise to bring hydrogen under the correct pressure even under extreme conditions. Resato has both deployed privately owned stations and public stations throughout Europe.
It is our mission to meet and exceed the expectations of our customers and end-users. We want to provide the best business tool for hydrogen refueling station owners, provide their users with a flawless refueling experience and be a top-notch sustainable company.
We are on our way for a greener future with a focus on sustainability, safety and efficiency. Creating zero-emission mobility together.
For more information on Resato: https://www.resato.com/en/hydrogen
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. Specifically, this news release includes forward-looking statements regarding Charbone’s expected commercialization and supply and logistics business opportunities related to green hydrogen, the negotiation and completion of the Definitive Agreements between Charbone Systems and Resato, other statements regarding future product developments, and markets, including with respect to specific indications, and any other statements which are other than statements of historical fact and the expected timing of such events. The forward-looking statements reflect Charbone’s respective 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. Among the key factors that could cause actual results to differ materially: whether Charbone Systems and Resato are successful in negotiating and entering the Definitive Agreements, availability of substantial capital in the future to fund its operations, and its sale and marketing expenses, if granted regulatory approval for the HSR to be sold and marketed in Canada or elsewhere will be granted Charbone Systems. The forward-looking statements may be affected by risks and uncertainties in the business of Charbone.
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
For further information, please contact:
Dave B. Gagnon Daniel Charette Chief Executive Officer and Chief Operating Officer Chairperson of the Board
CHARBONE Hydrogen Corporation CHARBONE Hydrogen Corporation
Telephone: +1 450 678-7171 Telephone: +1 514 980 5841 Email: dg@charbone.com Email: dc@charbone.com
Robert T.P. Castien Eric Mehl CEO Business Development & Sales
Resato Hydrogen Technology Resato Hydrogen Technology
Telephone: +31 (0) 505 016 877 Telephone: +31 (0) 505 016 877 Email: h2sales@resato.com Email: h2sales@resato.com
