CHARBONE Hydrogen Secures Funding for Flagship Facility in Quebec
Key Ideas
- CHARBONE Hydrogen Corporation has successfully closed a $1M non-brokered private placement, securing an additional $0.163M from investors, including the Company's CFO.
- The funding will accelerate the completion of CHARBONE's flagship green hydrogen production facility in Sorel-Tracy, Quebec.
- The Company plans to establish sixteen green hydrogen production facilities across North America by 2030, positioning itself as a leader in the industry.
- Proceeds from the financing will be allocated to engineering, construction, equipment procurement, infrastructure development, and project management at the Sorel-Tracy facility.
CHARBONE Hydrogen Corporation, North America's only publicly traded pure-play green hydrogen company, has announced the second closing of its $1M non-brokered private placement. The Company secured an additional $0.163M, bringing the total to $0.818M, to expedite the completion of its flagship green hydrogen production facility in Sorel-Tracy, Quebec. This facility is set to commence operations in the coming weeks, with plans to establish sixteen similar facilities across North America by 2030. The recent funding round involved issuing 3,260,000 Units priced at $0.05 each. The raised capital will be primarily directed towards engineering, construction, equipment procurement, infrastructure development, and project management at the Sorel-Tracy site. This positive development solidifies CHARBONE's position as a key player in the green hydrogen market, with a strategic focus on expanding its operational footprint and contributing to the advancement of sustainable energy solutions.
Topics
North America
Investment
Green Energy
Corporate Update
Private Placement
Public Company
Facility Development
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