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CHARBONE HYDROGEN Announces the execution of a Memorandum of Understanding with ESG ENERGY for the development and deployment of a hydrokinetic projects to support green hydrogen production
(TheNewswire) Brossard, Québec – TheNewswire - December 12, 2022 &#...
About this update from Charbone Hydrogen Corporation
[{"type":"text","content":"CHARBONE HYDROGEN Announces the execution of a Memorandum of Understanding with ESG ENERGY for the development and deployment of a hydrokinetic projects to support green hydrogen production\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Brossard, Québec –\n \n \n TheNewswire -\n \n \n December 12,\n2022 –\n \n \n CHARBONE HYDROGEN CORPORATION (TSXV:CH)\n \n \n (“\n \n \n Charbone\n \n \n ”)\n \n \n is pleased\nto announce the execution of a Memorandum of Understanding dated\nDecember 9, 2022\n \n \n (the “\n \n \n MOU\n \n \n ”)\n \n \n with ESG Energy Holdings, LLC\n \n \n (“\n \n \n ESG\nEnergy\n \n \n ”)\n \n \n for the mutual\ncooperation, to co-develop and permit riverbed hydrokinetic projects\nshowcasing a newly developed power system\n \n \n (the\n“\n \n \n Projects\n \n \n ”)\n \n \n to support green hydrogen\nproduction.\n \n \n \n \n \n \n Charbone and ESG Energy\nwill subsequently negotiate the terms and conditions of a definitive\nagreement\n \n \n (the “\n \n \n Agreement\n \n \n ”)\n \n \n for a first project to be selected\nby the two partners using the TE-1 power system, either to be\nimplemented at one of Charbone’s hydropower generation plants to\nincrease its revenue under an existing power purchase agreement from\nthe energy supplied by the TE-1 power system, or as a stand alone\nproject to be implemented into a region where Charbone is planning to\ndevelop and build a green hydrogen facility.\n \n \n \n \n Charbone will use its expertise in the development,\nconstruction, and operation of renewable power systems, while ESG\nEnergy will use its expertise to support Charbone in the selection of\nan appropriate location and the permitting of such projects. The\nProject is intended to showcase TE-1’s low-cost renewable baseload\npower production which captures energy through water current reliably\nand at high-capacity factor, and without any in river civil works. The\nTE-1 power system has been designed using established and commercially\nproven components.\n \n \n \n \n “\n \n \n Charbone\nhas been developing a relationship with ESG Energy and Dennis Ryan\nsince almost two years for different partnerships that we are still in\ndiscussions, I’m glad that we have succeeded...