Charbone Hydrogen Corporation Raises Funds to Accelerate Hydrogen Production Site
Key Ideas
- Charbone Hydrogen Corporation completed the second tranche of a $1 million fundraiser, raising $0.163 million, bringing the total proceeds to $0.818 million.
- Funds will be used for engineering, construction, equipment procurement, and infrastructure development at the Sorel-Tracy hydrogen production site.
- The company plans to establish itself as a first mover in green hydrogen production by delivering a network of 16 facilities across North America by 2030.
- Production at the first facility is set to begin upon the delivery of a pre-ordered electrolyzer, marking a significant milestone for Charbone.
Charbone Hydrogen Corporation, listed on TSX-V (CH) and OTCQB (CHHYF), has successfully concluded the second tranche of a $1 million fundraiser to expedite the completion of its flagship hydrogen production site. With $0.163 million raised in this round, the total funds accumulated amount to $0.818 million. The company disclosed its aim to commence production at the Sorel-Tracy facility in Quebec in the near future. These funds will be allocated towards various essential aspects such as engineering, construction, equipment procurement, infrastructure development, and project management to pave the way for a larger financing round. Charbone further outlined its ambitious strategy to deploy 16 green hydrogen production facilities across North America by 2030, positioning the Sorel-Tracy site as a pioneering endeavor in this domain. Noteworthy milestones on the horizon include the start of production at the first facility as soon as the pre-ordered electrolyzer is delivered, underscoring Charbone's progress in advancing hydrogen technologies.