Charbone Hydrogen Corporation (TSX-V:CH, OTCQB:CHHYF) has released its financial and operational results for the third quarter, a period marked by a 23% year-over-year increase in revenue and significant progress toward green hydrogen production at its flagship Sorel-Tracy facility in Quebec. Revenue for the nine months ending September 30 was about $261,000, up from about $213,000 for the year-ago period.
Charbone Hydrogen Corporation (TSX-V:CH, OTCQB:CHHYF) announced the successful first closing of its $1 million non-brokered private placement, raising $700,000 to advance its flagship green hydrogen production facility in Quebec. The plant is slated to begin operations in the coming weeks, Charbone said in a statement.
Charbone Hydrogen Corporation (TSX-V:CH, OTCQB:CHHYF) announced the addition of industry veteran Patrick Cuddihy to its leadership team. Cuddihy brings more than two decades of experience from Air Liquide Canada, where he held senior roles in industrial gas production, procurement, and logistics.
Charbone Hydrogen Corporation (TSX-V:CH, OTCQB:CHHYF) announced that it has entered into a consultancy agreement with Enki GéoSolutions to guide its leadership on potential partnerships in the emerging field of renewable hydrogen, known as white or natural hydrogen. The collaboration will see Enki GéoSolutions' president, Stephan Séjourné, join Charbone's scientific team, providing expert insight on white hydrogen initiatives.
Charbone Hydrogen Corporation (TSX-V:CH, OTCQB:CHHYF) announced that it has received multiple partnership proposals from natural hydrogen exploration companies, positioning it as a co-operator and distributor of this emerging form of renewable hydrogen known as “white hydrogen.” The company, which has long focused on green hydrogen projects, said it is looking to deepen its involvement of white hydrogen to complement its future network of production facilities.
Charbone Hydrogen Corporation (TSX-V:CH, OTCQB:CHHYF) reported higher revenues and lower spending for the six-month period ending June 30 as it remains on track to start producing green hydrogen at its flagship Sorel-Tracy project near Montreal, Quebec, in the second half of the year. Revenue was up 48% for the six months at $182,143, compared to $123,391 for the same period in 2023.
Charbone Hydrogen Corporation (TSX-V:CH, OTCQB:CHHYF) announced the arrival of its first tube trailer for the transport and bulk delivery of compressed green hydrogen produced at its flagship facility in the City of Sorel-Tracy, Quebec to customers. The company said the tube trailer is ready to be loaded with 316 kilograms of green hydrogen.
Charbone Hydrogen Corporation (TSX-V:CH, OTCQB:CHHYF) has appointed a consultant to work with the operations team as it expands production, executes power agreements and applies for state incentives. The green hydrogen company said David Cheung Atkinson will work with Charbone's chief operating officer, Daniel Charette, to support green hydrogen project deployments, with the Sorel-Tracy facility in Quebec scheduled to being later this year, plus the planned introduction of a second Detroit, Michigan area facility before year-end.
Charbone Hydrogen Corporation (TSX-V:CH, OTCQB:CHHYF) is more than doubling its Phase 1 electrolyzer capacity at the Sorel-Tracy, Quebec plant. The company is enhancing its supply chain of fully integrated electrolyzers with capacities up to 2.5 MW, 5.0 MW, and 10.0 MW for all its projects.
Charbone Hydrogen Corporation (TSX-V:CH, OTCQB:CHHYF) said it has amended its convertible debentures to extend maturities, reduce interest rates, and lower conversion prices, enhancing financial flexibility for its green hydrogen projects. A new agreement modifies the terms of the C$1.2 million, 14% secured convertible debentures initially issued in a private placement.
Charbone Hydrogen Corporation (TSX-V:CH, OTCQB:CHHYF) strengthened its balance sheet as it advanced its projects in the first three months of 2024, remaining on track to deliver its first green hydrogen production facilities in Canada and the US in the second half of the year. For Q1, the company's revenue increased 65% to about $81,600 compared to about $50,000 in the first quarter of 2023, with the increase attributed to Charbone's acquisition of Wolf River.