Charbone Hydrogen executes $50M financing to advance green hydrogen projects
Charbone Hydrogen Corporation (TSX-V:CH, OTCQB:CHHYF) has announced the execution of a previously disclosed project finance facility of up to US$50 million to support its continued growth.
Funds will be directed toward accelerating the construction of Charbone’s modular hydrogen facilities across North America.
Montreal-headquartered Charbone is focused on the development of modular production facilities for green hydrogen, targeting ultra-high purity levels of 99.999% (Grade 5.0 and higher).
All hydrogen output is pre-sold under tier-one offtake agreements, securing forward demand for the company’s production.
The financing is being provided by a private fund managed by True Green Capital Management LLC (TGC), facilitated by US Capital Global Securities LLC, the broker-dealer division of the San Francisco–based financial group US Capital Global, which served as lead advisor and facilitator.
Charbone’s chief financial officer Benoit Veilleux, said in a statement:
This financing marks an important milestone in executing our long-term growth strategy,
“We are grateful to US Capital Global for their consistent support and expertise throughout this process—from structuring and investor engagement to the successful completion of legal documentation.”
Charles Towle, CEO of US Capital Global Securities, added:
Charbone is gaining strong momentum as demand grows for clean hydrogen solutions to decarbonize industrial users through their key sites in development across North America.
“We look forward to supporting the company’s continued growth.”
Shares of Charbone climbed nearly 42% on Wednesday morning reaching C$0.085.
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Charbone Hydrogen executes $50M financing to advance green hydrogen projects, source
