Charbone Executes MOU with Port Hawkesbury Paper, LP

Source: www.gulfoilandgas.com 6/21/2022, Location: North America

CHARBONE HYDROGEN Corporation is pleased to announce the execution, as of June 20, 2022, of a non-binding memorandum of understanding (the “MOU”) between Charbone and Port Hawkesbury Paper, LP (“PHP”), pursuant to which the parties are entering into discussions and intend to develop a partnership for the establishment of Charbone’s first small-scale green hydrogen production facility in the Maritimes. The facility is expected to be located on the campus of PHP’s eco-industrial park in Richmond County, on the outskirts of the Town of Port Hawkesbury.

Charbone brings to the table its expertise in the development and construction of modular and scalable facilities for the production of green hydrogen. Charbone is expected to be responsible for sourcing renewable energy through separate discussions with local power producers. It is currently expected that Charbone will be responsible for the sale and distribution of its green hydrogen in the Maritime provinces.

Charbone and PHP’s obligations under the MOU are conditional to the execution of a definitive agreement (the “Definitive Agreement”) on or before November 18, 2022. Charbone and PHP further intend to explore and identify the best uses of hydrogen for the assets and benefits of PHP’s eco-industrial park and other potential local projects. Particular attention will be paid to the potential reuse of process water in order to enhance the circularity of the processes.

“Charbone is extremely pleased to develop its first project in the Maritimes with a strong local partner like PHP, which has a strong history of reducing waste and energy requirements and is proactive and supportive of a transformation to renewable energy, which could include green hydrogen for local uses,” said Dave B. Gagnon, Chairman and CEO of Charbone. “Charbone’s model of small-scale, modular and scalable regional hubs is receiving a lot of attention from the markets where we want to operate, as it is socially acceptable by the local community and the different stakeholders as it provides a solution to the transport and delivery limitations of hydrogen.”

“PHP is committed to facilitating a transition in Nova Scotia to a diversity of green energy futures. Charbone’s vision and capacity for timely building out small-scale green hydrogen production will bring value to the region and represent another tangible step on that journey; we are excited by the opportunity to further develop this concept,” said Bevan Lock, Mill Co-Manager at PHP.

“We are excited to welcome Charbone Hydrogen to Richmond County! This innovative project is an exciting opportunity for the Strait Area and aligns with our vision of a green energy future for the region,” said Amanda Mombourquette, Warden at the Municipality of the Richmond County.

Mayor Brenda Chisholm-Beaton, from the Town of Port Hawkesbury, said, “We see significant opportunities for the Town as the transition to green energy progresses and are pleased that Charbone intends to locate in proximity to Port Hawkesbury with their first maritime provinces location.”


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