Charbone Hydrogen is More Than Doubling its Phase 1 Electrolyzer Capacity to Power Up Green Hydrogen Production at the Sorel-Tracy, Quebec Plant

(TheNewswire)

Company now gearing up and actively enhancing its supply chain of fully integrated electrolyzers with capacities up to 2.5 MW, 5.0 MW and 10.0 MW for all of its projects

Brossard, Quebec, June 25 2024 TheNewswire Charbone Hydrogen Corporation (TSXV: CH; OTCQB: CHHYF; FSE: K47) (the ‘ Company ‘ or ‘ CHARBONE ‘), North America’s only publicly traded pure-play green hydrogen company, is pleased to confirm that it has executed a supply agreement of a complete containerized electrolyzer system ready for shipment to its flagship green hydrogen site, located in the City of Sorel-Tracy, Quebec. After arrival on site, the system is expected to take 4-6 weeks of installation and commissioning to be in production.

This new electrolyzer has a higher capacity than originally planned for and will significantly enhance CHARBONE’s initial operational capacity estimates. Coinciding with facility construction plans that remain on schedule, the Company anticipates the electrolyzer system will be delivered during the Q3-2024 timeframe.

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The Sorel-Tracy Green Hydrogen Project will serve as the Company’s flagship facility, giving CHARBONE a first-mover advantage with production starting later this year with an initial capacity of approximately 400kg. Following a phased development approach, the project will allow to gradually scale up the production of hydrogen. The facility will target a wide array of industrial users who are abandoning fossil-fuel-driven gray hydrogen and opting for a cleaner alternative.

‘ Locking down the delivery of an electrolyzer that will immediately increase operational margins is a turning point and a decisive step forward in our overall growth strategy ,’ said Daniel Charette, COO of CHARBONE . ‘ We have a strong strategic vision for developing and deploying our green hydrogen network and the surrounding ecosystems, and we look forward to soon introducing , new decarbonization and bankable solutions into the North American market. ‘

In addition to its Sorel-Tracy pursuits, the Company is planning to introduce a second green hydrogen project in 2024 in the Detroit, Michigan area as well. In total, CHARBONE plans to deliver 16 green hydrogen production facilities across North America by 2030 and is actively securing its supply chain of fully integrated electrolyzers ranging up to 2.5 MW, 5.0 MW and 10.0 MW.

About Charbone Hydrogen Corporation

CHARBONE is an integrated green hydrogen group focused on delivering a network of modular green hydrogen production facilities across North America. Using renewable energy sources to produce green (H2) dihydrogen molecules and eco-friendly energy solutions for industrial, institutional, commercial and future mobility users, CHARBONE plans to scale and deliver green hydrogen production facilities in both the US and Canada by 2024, with an additional 14 facilities planned by 2030. CHARBONE is the only publicly traded pure-play green hydrogen company with common shares trading on the TSX Venture Exchange (TSXV: CH); the OTC Markets (OTCQB: CHHYF); and the Frankfurt Stock Exchange (FSE: K47). For more information, please visit www.charbone.com

Forward-Looking Statements

This news release contains statements that are ‘forward-looking information’ as defined under Canadian securities laws (‘forward-looking statements’). These forward-looking statements are often identified by words such as ‘intends’, ‘anticipates’, ‘expects’, ‘believes’, ‘plans’, ‘likely’, or similar words. The forward-looking statements reflect management’s expectations, estimates, or projections concerning future results or events, based on the opinions, assumptions and estimates considered reasonable by management at the date the statements are made. Although Charbone believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on forward-looking statements, as unknown or unpredictable factors could cause actual results to be materially different from those reflected in the forward-looking statements. The forward-looking statements may be affected by risks and uncertainties in the business of Charbone. These risks, uncertainties and assumptions include, but are not limited to, those described under ‘Risk Factors’ in the Corporation’s Filing Statement dated March 31, 2022, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements.

Except as required under applicable securities legislation, Charbone undertakes no obligation to publicly update or revise forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release .

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