CHARBONE HYDROGEN CORPORATION (TSXV: CH; OTCQB: CHHYF; FSE: K47) announced on October 7, 2025, that it has officially taken possession of hydrogen production and refuelling assets from Harnois Energies Inc. This strategic transaction will allow CHARBONE to rapidly relocate and repurpose proven equipment at its flagship Sorel-Tracy facility, aiming to produce clean ultra high purity (UHP) hydrogen by early Q4 2025. By using existing, operational assets, the company expects to significantly reduce capital installation costs and accelerate time-to-market compared to deploying new systems.
Under the terms of the agreement, CHARBONE issued 13,333,334 common shares at $0.075 per share, representing $1 million in equity consideration to Harnois. Additional cash payments will be made in staged tranches over two years, preserving capital for growth initiatives. Notably, Harnois elected to receive a substantial portion of the consideration in CHARBONE equity at market value, underscoring Harnois' recognition of the strategic long-term benefits of aligning with CHARBONE as Quebec's leading clean UHP hydrogen supplier, while Harnois continues to focus on its core energy distribution businesses.
“This is a transformative moment for CHARBONE,” said Dave B. Gagnon, CEO of CHARBONE. “With these assets, we will begin producing clean UHP hydrogen in Sorel-Tracy much sooner than anticipated, while optimizing capital efficiency. We are proud to welcome Harnois as a shareholder in the capital of CHARBONE.”
CHARBONE is an integrated company specializing in clean UHP hydrogen and the strategic distribution of industrial gases in North America and Asia-Pacific. Through a modular approach, the company is building a distributed network of green hydrogen production plants while diversifying revenues via helium and specialty gas partnerships. This disciplined model reduces risk, enhances flexibility, and positions CHARBONE as a leader in the transition to a low-carbon future. For more information, visit www.charbone.com.
This news release contains forward-looking statements within the meaning of Canadian securities laws, identified by words such as “intends,” “anticipates,” “expects,” “believes,” “plans,” or similar terms. These statements reflect management's expectations based on assumptions considered reasonable, but involve risks and uncertainties that could cause actual results to differ materially. For a detailed discussion of risk factors, refer to the Corporation’s Filing Statement dated March 31, 2022, available on SEDAR.
