CHARBONE HYDROGEN CORPORATION (TSXV: CH, OTCQB: CHHYF, FWB:K47) (“Charbone”) is pleased to announce that its fully owned US subsidiary, CHARBONE CORPORATION USA (“Charbone USA”), has executed a Memorandum of Understanding (the “MOU”) as of November 27, 2023 with NEK COMMUNITY BROADBAND CUD (“NEK Broadband”) for the supply of green hydrogen in the Northeast Kingdom of the state of Vermont (USA). It is to be used to provide the necessary back-up power to the extensive NEK Broadband new internet network under construction in the Northern Kingdom of Vermont.
Charbone USA and NEK Broadband will pursue the negotiation to an agreement that will define the
green hydrogen price at the gate, annual required volumes and the general terms and conditions
pertaining to such agreement. Charbone will have the ability to supply green hydrogen from its nearest facility. Charbone’s first project at Sorel-Tracy (Quebec, Canada), which is under construction and planned to be in production in the first semester of 2024, could be the source plant. Charbone plans to develop, operate and distribute green hydrogen from a network of up to 15 facilities in Canada and the United States.
NEK Broadband is a communication union district formed under 30 VSA Chapter 82 that includes
every town in the Northeast Kingdom of Vermont, plus Wolcott, and is building public infrastructure
to help ensure that every address that has existing electric utility service will have access to affordable, reliable, and high-speed broadband internet. In order to keep the system working and have a continuous and reliable backup power supply, NEK Broadband has opted to install an innovative hydrogen fuel cell backup system. This system will allow them to be carbon neutral and be the first in the northeast to use such a state-of-the-art decarbonized system.
“I’m particularly proud to be part of such a great community project with the NEK Broadband team
in our neighboring state of Vermont,” said Dave B. Gagnon, Chairman and CEO of Charbone.
“The size of the project will allow the Charbone Team to deploy our green hydrogen to fuel cells and
expand our portfolio of industrial customers. We are extremely pleased by how the values upheld by
the NEK Broadband team align with Charbone’s mission, objectives, and community values.”
“NEK Broadband’s commitment to our community incorporates finding ways to reduce our networks
carbon footprint as we bring high-speed internet to the unserved in northeast Vermont,” said Christa
Shute, Executive Director of NEK Broadband. “We are excited about Charbone’s commitment to
renewable hydrogen production that will enable us to pioneer a green hydrogen fuel cell resulting in
a zero-carbon back up power system for our electronic hub sites while giving our customers the
confidence to use the internet through three days of local power outages.”
