Charbone Hydrogen Corporation Secures $50 Million Financing for Expansion Across North America
Key Ideas
- Charbone Hydrogen Corporation has secured a project finance facility of up to US$50 million to accelerate the construction of modular hydrogen facilities across North America.
- The company focuses on developing green hydrogen production facilities with ultra-high purity levels, ensuring all output is pre-sold under tier-one offtake agreements.
- The financing is provided by True Green Capital Management LLC through US Capital Global Securities LLC, supporting Charbone's strategy to meet the increasing demand for clean energy solutions.
- Key executives from both Charbone and US Capital Global emphasized the importance of this financing in driving the company's long-term growth and supporting the transition to decarbonized industrial users.
Charbone Hydrogen Corporation, based in Montreal, has successfully executed a project finance facility worth up to US$50 million. This financial injection is aimed at expediting the construction of Charbone’s modular hydrogen facilities across North America. The company's core focus lies in the development of modular production facilities for green hydrogen, boasting ultra-high purity levels that exceed 99.999%. To ensure a stable market for its production, Charbone has pre-sold all hydrogen output under tier-one offtake agreements. The financing for this venture is being provided by True Green Capital Management LLC, facilitated by US Capital Global Securities LLC, which is a vital step in advancing Charbone’s strategy to meet the escalating demand for clean energy solutions. Charbone's CFO, Benoit Veilleux, expressed gratitude towards US Capital Global for their unwavering support and expertise during this process. The CEO of US Capital Global Securities, Charles Towle, highlighted Charbone’s momentum in the clean hydrogen sector as the demand for decarbonization in industrial applications grows. The funding secured marks a significant milestone in Charbone’s growth trajectory and underpins its commitment to delivering sustainable energy solutions.