- Charbone Hydrogen Corporation (CH) has signed an agreement with Superior Propane, a division of Superior Plus LP
- The agreement is for the supply, marketing, sale and distribution of green hydrogen to commercial and industrial customers in Québec
- The parties will leverage their collective expertise in mobile energy distribution and green hydrogen production
- Charbone is a Canadian green hydrogen group established in North America
- Superior is a leading North American distributor and marketer of propane and distillates and related products and services
- Charbone Hydrogen Corporation is down 8.1 per cent on the day, trading at $0.34 per share at 11:31 AM ET
Charbone Hydrogen Corporation (CH) has signed an agreement with Superior Propane, a division of Superior Plus LP.
The agreement is for the supply, marketing, sale and distribution of green hydrogen to commercial and industrial customers in Québec.
The parties will leverage their collective expertise in mobile energy distribution and green hydrogen production to bring green hydrogen to market.
The parties will also provide a green energy option for companies looking to reduce their carbon emissions and achieve decarbonization in the industrial sector.
The preliminary term of the agreement commences on May 5, 2022, expiring on the commencement of the supply term.
The supply term, during which Superior shall purchase hydrogen produced at Charbone’s facility, shall commence on the date at which Charbone’s facility is first capable of producing hydrogen meeting the forecasted minimum production as set forth in the definitive agreement and shall end on the date that is fifteen months thereafter.
Superior’s industry-leading energy distribution business, through its existing Québec business units’ network, will be responsible for the marketing, sale, and delivery of green hydrogen directly from Charbone’s facility to Superior’s existing and new customers entering the hydrogen transition.
“We are excited to be working with Charbone to offer green hydrogen to customers in Québec, Canada,” stated Luc Desjardins, Superior’s President and CEO.
“Superior’s safety record, logistics network and best-in-class mobile energy distribution platform will enable Charbone to continue to expand its hydrogen supply business,” he added.
“This exclusive supply arrangement with Superior is a highly important milestone for Charbone and sends a positive market signal, that our modular and scalable regional hub concept works in the new hydrogen market sector,” said Dave B. Gagnon, Chairman and CEO of Charbone.
Charbone is a Canadian green hydrogen group established in North America.
Superior is a leading North American distributor and marketer of propane and distillates and related products and services.
Charbone Hydrogen Corporation is down 8.1 per cent on the day, trading at $0.34 per share at 11:31 AM ET.
