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    CH Charbone begins phase 1 construction at Sorel-Tracy


    June 23, 2022 - Canada StockWatch

     

      Charbone Hydrogen Corp (TSX-V:CH)

      Shares Issued 47,257,283

      Last Close 6/22/2022 $0.305

      Wednesday June 22 2022 - News Release

      Mr. Dave Gagnon reports

      CHARBONE HYDROGEN ANNOUNCES RECEPTION OF ENVIRONMENTAL AUTHORIZATION, FIRST SHOVEL AND START OF ON-SITE PRELIMINAIRY CIVIL WORK OF ITS SOREL-TRACY FACILITY

      Charbone Hydrogen Corp. has reached another important milestone in the deployment of its concept of small and expandable green hydrogen regional hub. It has received from the Ministere de l'Environnement et de la Lutte contre les changements climatiques of Quebec the certificate of environmental authorization to produce up to 5.5 megawatts of green hydrogen at the Sorel-Tracy Charbone hydrogen facility for phase 1, 2 and 3. The project has also already received preliminary on-site civil work construction permits from the Municipality of Sorel-Tracy.

      Charbone is also announcing that the Charbone management team held yesterday, June 20, a first shovel event, kicking off the construction of the phase 1 Sorel-Tracy facility with the on-site civil work. The Sorel-Tracy facility is located on an approximately 40,000-square-metre land parcel leased by Charbone under a 25-year long-term lease entered into with the Town of Sorel-Tracy along Quebec Highway 30, the Autoroute de l'acier, 50 minutes east of Montreal on the St. Lawrence River South Shore. The highway was named Steel Highway because of the numerous steel mills and process plants operating along the highway from Varennes to Becancour (Quebec).

      The dihydrogen produced at the Sorel-Tracy facility will be sold and distributed by Charbone exclusive partner Superior Propane, a subsidiary of Superior Plus, under a definitive agreement that was announced on May 5, 2022. Charbone will deliver a high-purity grade 5.0 green hydrogen to Superior Propane in different formats, including individual cylinders, bundle packs and bulk to industrial users and for few future heavy mobility users.

      Charbone is also continuing its efforts to obtain the ecoresponsible certification with the Ecoresponsible Program, which it expects to receive during third quarter or fourth quarter 2022 while at the same time continuing its efforts to obtain the B-Corp certification that should be obtained by first quarter 2023. Charbone would be one of the first green hydrogen producers to obtain such certification in Canada under this high-profile sustainable program.

      "What an exciting moment for the Charbone team and our shareholders to see the start of the construction of this first, 100-per-cent-green hydrogen facility in Quebec and most probably in Canada, fully dedicated to replacing the grey industrial hydrogen actually used in the process gas market," said Dave Gagnon, chief executive officer and chairman of Charbone. "I'm really proud of our team that has worked hard since the last 30 months to get this project on track and start construction."

      "We have been dedicating all our times, our hearts and souls on Charbone projects for the last 30 months. What an extraordinary moment yesterday it was by receiving the environmental authorization and raising the first shovel in the ground," said Daniel Charette, founding member and chief operating officer of Charbone. "Many thanks to our Charbone team, our engineering partners that were committed to this project, the Town of Sorel-Tracy and all stakeholders that participate in this tremendous adventure."

      About Charbone Hydrogen Corp.

      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 to distinguish itself as a supplier of an ecological solution for industrial and commercial companies.

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