CHARBONE HYDROGEN CORPORATION (TSXV: CH, OTCQB: CHHYF, FWB:K47) (“Charbone”) is pleased to announce that it has executed a Memorandum of Understanding (the “MOU”) as of December 1, 2023 with Michigan’s Oakland County Economic Development Department (the “OCED”) that will set the stage for Charbone’s first green hydrogen facility in the United States. Oakland County is the home of dozens of major automotive companies including numerous world headquarters, North American headquarters, and R&D facilities.
The executed MOU between the parties will provide Charbone with a strong local partner for
negotiations with local authorities, support in the final site selection process, project development and
permitting support for activities related to its first facility in the United States, and assistance
developing a regional ecosystem and hub. OCED will support Charbone alongside other stakeholders
such as the Detroit Regional Partnership (DRP) and the Michigan Economic Development Corporation
(MEDC). The aforementioned partners have already provided extraordinary support to Charbone in
recent months by arranging multiple meetings with automotive OEM’s, local stakeholders, and future
potential hydrogen users. Charbone aims to develop a network of green hydrogen production facilities
in the North American market and has already announced four facilities in Canada, including one
already under construction in Quebec.
“This MOU with Oakland County located in the North American hearth of the auto manufacturing
industry is tremendous and exciting milestone for Charbone as it positions us as a new player and
leader in the development and construction of modular and scalable production facilities in Detroit in
what has been consider to be the cradle of the automaking in North America,” said Dave B. Gagnon,
Chairman and CEO of Charbone. “Charbone’s team will work hard to propose a project consistent
with the decarbonization and sustainability objectives and goals of the Oakland County, Michigan and
the country, and I must add that we are really happy with the support and the welcome that our project has been receiving and the relationship that we have built”.
“The potential that Charbone Hydrogen Corp. brings to Oakland County and Michigan is exciting on
so many fronts. The green hydrogen facility will bolster our efforts to expand environmentally
friendly mobility options for the automotive industry,” said Oakland County Executive Dave Coulter. “This is a perfect example of how collaboration on a local, state and federal level can help
produce an international agreement that holds so much promise.”
