Charbone Hydrogen Corporation (TSX-V:CH, OTCQB:CHHYF) announced that it has taken possession of hydrogen production and refuelling assets from Harnois Énergies, which will allow it to relocate and repurpose hydrogen production equipment at its Sorel-Tracy facility in Quebec.
The company said this will allow it to achieve first production of Ultra High Purity (UHP) hydrogen at Sorel-Tracy by early Q4, 2025.
Using the existing operational assets is expected to reduce capital installation costs and speed up deployment, Charbone added.
“This is a transformative moment for Charbone,” Charbone CEO Dave Gagnon said in a statement.
“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.”
Further to the agreement announced on September 5, 2025, Charbone issued 13,333,334 common shares at $0.075 per share, representing $1 million in equity to Harnois. Additional cash payments will be made in tranches over two years.
Harnois chose to receive a significant portion of the consideration in Charbone shares at market value and will continue to focus on its core energy distribution operations, Charbone highlighted.