CHARBONE Hydrogen Corporation announces supply and distribution agreement with Superior Propane
by CM Staff
Charbone will provide Superior with green hydrogen from its shovel-ready Sorel-Tracy, Québec modular and expandable facility.
BROSSARD — CHARBONE Hydrogen Corporation announces the execution of a definitive agreement with Superior Propane, a division of Superior Plus LP for the supply, marketing, sale and distribution of green hydrogen to commercial and industrial customers located initially in Québec, Canada. Pursuant to the Definitive Agreement, the Parties will leverage their collective background in mobile energy distribution and green hydrogen production to bring to the market green hydrogen at reportedly competitive and affordable levels and to provide a convenient green energy option for companies looking at the energy transition.
Subject to the terms and conditions set forth in the Definitive Agreement, the Definitive Agreement starts with a preliminary term commencing 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 (15) months thereafter.
Pursuant to the Definitive Agreement, Charbone will provide Superior with green hydrogen from its shovel-ready Sorel-Tracy, Québec modular and expandable facility, with initial deliveries expected in the third quarter of 2022.
Superior’s 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. These customers include existing industrial users of hydrogen, new processes, logistics, mining, transportation, and light and heavy mobility.
“We are excited to be working with Charbone to offer green hydrogen to customers in Québec, Canada,” said 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. Superior’s access to Charbone’s green hydrogen production will allow us to sell cost-effective green energy to current and new customers and aligns with our larger strategy to offer alternative energy products, including green and low carbon energy alternatives, to our customers by leveraging our existing energy distribution business.”
“The combination of Superior’s expertise in delivering portable energy solutions to a wide variety of industries with Charbone’s production of green hydrogen, will be a game changer related to availability of zero-carbon energy offerings to customers in Québec,” said Rick Carron, President of Superior.
“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 work in the new hydrogen market sector” said Dave B. Gagnon, Chairman and CEO of Charbone. “The Definitive Agreement will allow both parties to produce, develop, sell and distribute green hydrogen throughout an extensive network in North America and will offer Canadian industries and others, a new clean energy solution alternative to start the energy transition now”.
