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Charbone Hydrogen Receives A Non-Binding Cash Offer To Sell Interests In Two American Hydro Projects
(TheNewswire) Reaffirms Priority Plans to Launch Canadian Green Hydrogen Production Facilit...
About this update from Charbone Hydrogen Corporation
[{"type":"text","content":"Charbone Hydrogen Receives A Non-Binding Cash Offer To Sell Interests In Two American Hydro Projects\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Reaffirms Priority\nPlans to Launch Canadian Green Hydrogen Production Facility in 2024;\nAmerican Production Plant to Follow Later This Year\n \n \n \n \n Brossard, Quebec, APRIL 23,\n2024\n \n \n –\n \n \n \n \n CHARBONE HYDROGEN\nCORPORATION\n \n \n \n \n (TSXV: CH;\n \n \n \n \n OTCQB: CHHYF; FSE: K47) (the “Company” or\n“CHARBONE”), North America’s only publicly traded pure-play\ngreen hydrogen company, announced\n \n \n that it has\nreceived a signed, non-binding offer for the sale of two hydro\nprojects in Vermont and Wisconsin.\n \n \n \n \n The terms of the offer remain confidential but specify\nthat CHARBONE would sell 100% of its equity interests in the two hydro\nprojects to an undisclosed renewable power producer for a combined\nvaluation of US$725,000. The parties have agreed to collaborate using\ntheir best efforts to enter into a binding purchase offer with respect\nto the sale within the next 30-60 days.\n \n \n \n \n News of this potential asset sale follows CHARBONE’s\nrecent announcement that essential storage infrastructure is being\ntransported to its flagship green hydrogen production plant\nsite\n \n \n near Montreal, with plans to be operational\nin the second half of 2024. Additionally, the company has also\nannounced its intent to launch a second North American green hydrogen\nproduction project in the Detroit, Michigan area this year.\n \n \n \n \n “We are pleased to receive an offer that recognizes\nthe inherent value of these assets,”\n \n \n said Dave\nGagnon, CEO of CHARBONE\n \n \n . “As CHARBONE has\nestablished a decentralized, energy opportunistic approach to its\ngreen hydrogen production strategy, our ability to tap into any\nrenewable energy sources connected to the grid allows us to move\nquickly, reduce costs and begin production. The sale of these assets\nwill also provide the Company with additional, non-dilutive resources\nto advance our near-term plant development portfolio, while also\nevaluating other opportunities to add further projects to an already\nactive\n \n \n modular green hydrogen plant dev...