Charbone Hydrogen (TSXV:CH,OTCQB:CHHYF,FWB:K47),OTCQB:CHHYF,FWB:K47) eyes expansion across North America (US and Canada) with a pipeline of new projects as the world races to find effective solutions to meet its net-zero ambitions by 2050. Green hydrogen could be a perfect fit as a potentially low-emitting fuel source and a low-emissions substitute for fossil fuels in residential and industrial use cases.
Charbone’s focus on “green hydrogen” strengthens its position among investors looking for opportunities to invest in sustainable energy solutions. Green hydrogen is produced when the energy used to power electrolysis comes from renewable sources like wind, water, solar or nuclear. Charbone has clearly stated its intentions to leverage hydropower and nuclear energy to produce hydrogen.
The company plans to construct 16 hydrogen projects across North America (six in Canada and 10 in the US) over the next four years. The first of which is under construction at Sorel-Tracy in Quebec, which is expected to be production-ready by mid-2024. The Sorel-Tracy facility is located on a 40,000-square-meter land parcel along Quebec Highway 30. The highway is known as the “Steel Highway” because of the numerous steel mills and process plants operating along the highway.
Company Highlights
Charbone Hydrogen is a Canada-based producer of green hydrogen and is the only publicly listed green hydrogen producer in Canada.The company aims to develop a pipeline of 16 green hydrogen projects across the US and Canada. Of which, the first facility at Sorel-Tracy (Quebec, Canada) is under construction and is expected to be production-ready in mid-2024.The company will leverage hydropower and nuclear energy to produce green hydrogen which will allow it to control production costs while lowering emissions. Energy costs remain a significant portion of hydrogen production and the ability to lower these costs will make Charbone’s offering more competitive.Charbone has developed several strategic partnerships aimed at strengthening its position in the hydrogen market. This includes a construction agreement with EBC, a supply agreement with NEK Community Broadband, and an MOU with Oakland County for the development of the first green hydrogen plant in the US.Charbone is well positioned to participate in the rise of green hydrogen as a potential low-emitting alternative to fossil fuels.
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