CHARBONE Hydrogen Corporation Expands Green Hydrogen Facilities in North America
Key Ideas
- CHARBONE secured funding to advance the construction of two green hydrogen production facilities in Sorel-Tracy, Quebec, and Detroit, Michigan, with a total capacity of 5.0MW.
- The company plans to build sixteen green hydrogen production facilities across North America by 2030, aiming to be a leader in the green hydrogen market.
- Funds will be used for capital expenditures such as engineering, equipment, and infrastructure costs for the production facilities.
- CHARBONE's focus is on generating near-term revenue, delivering value to shareholders, and establishing a modular green hydrogen network.
CHARBONE Hydrogen Corporation, based in Brossard, Quebec, announced the closing of a $2.1 million CAD unsecured convertible debt tranche to accelerate the construction of their green hydrogen production facilities in Sorel-Tracy, Quebec, and Detroit, Michigan. The facilities will have a total capacity of 5.0MW, with the Sorel-Tracy site set to begin operations in the coming weeks. The company plans to establish sixteen green hydrogen production facilities across North America by 2030. The funding will be allocated towards capital expenditures for equipment, infrastructure, and project management costs. CHARBONE has also made deposits for two 2.5 MW electrolyzers from a leading global manufacturer. The company's CEO emphasized the importance of this investment in solidifying their position in the green hydrogen market and their commitment to meeting stakeholder expectations. CHARBONE aims to create a network of green hydrogen facilities using renewable energy sources, catering to various sectors. The company's forward-looking statements highlight their intentions to lead in the green hydrogen sector with a focus on growth and value creation.