FAQ: CHARBONE Hydrogen's Acquisition of Harnois Energies' Hydrogen Assets

What is the main announcement in this content?

CHARBONE Hydrogen Corporation has officially taken possession of hydrogen production and refuelling assets from Harnois Energies Inc., which will enable accelerated clean Ultra High Purity hydrogen production at CHARBONE’s Sorel-Tracy facility.

Why is this acquisition significant for CHARBONE?

This strategic transaction allows CHARBONE to rapidly relocate and repurpose proven hydrogen production equipment, significantly reducing capital installation costs and accelerating time-to-market compared to deploying new systems.

When is CHARBONE expected to begin hydrogen production using these assets?

CHARBONE expects to begin the first production of clean Ultra High Purity hydrogen by early Q4 2025 at its Sorel-Tracy facility.

What was the financial consideration for this transaction?

CHARBONE issued 13,333,334 common shares at $0.075 per share (representing $1 million in equity) to Harnois, with additional cash payments to be made in staged tranches over two years.

Why did Harnois choose to receive equity in CHARBONE?

Harnois elected to receive a substantial portion of the consideration in CHARBONE equity at market value, demonstrating their recognition of the strategic long-term benefits of aligning with CHARBONE as Quebec’s leading clean UHP hydrogen supplier.

Where will the acquired hydrogen assets be deployed?

The hydrogen production equipment will be relocated and repurposed at CHARBONE’s flagship Sorel-Tracy facility in Quebec.

What type of hydrogen will CHARBONE produce with these assets?

CHARBONE will produce clean Ultra High Purity (UHP) hydrogen, which is part of their strategy to build North America’s first clean UHP hydrogen production and distribution network.

Who are the key companies involved in this transaction?

CHARBONE Hydrogen Corporation (the acquiring company) and Harnois Energies Inc. (the seller of the hydrogen assets) are the primary companies involved in this strategic transaction.

What are CHARBONE’s stock exchange listings mentioned in the content?

CHARBONE is listed on the TSX Venture Exchange (TSXV: CH), the OTC Markets (OTCQB: CHHYF), and the Frankfurt Stock Exchange (FSE: K47).

How does this acquisition align with CHARBONE’s broader business strategy?

This acquisition supports CHARBONE’s strategy of building a distributed network of green hydrogen production plants while diversifying revenues via helium and specialty gas partnerships, positioning the company as a leader in the transition to a low-carbon future.