Operations Update | INN

Having long focused on green hydrogen projects, CHARBONE is now exploring to deepen its involvement in white hydrogen, to complement its future network of production facilities. By leveraging its extensive expertise in the hydrogen market, CHARBONE is poised to support exploration companies with services that will help accelerate the deployment of clean hydrogen across North America.

With a future network of at least 16 strategically located facilities throughout Canada and the U.S., CHARBONE will streamline the process of receiving, purifying, compressing, and distributing hydrogen to meet the growing demand. This capability allows CHARBONE to be a key player in the clean hydrogen supply chain, offering solutions that drive both innovation and efficiency.

“Charbone remains a leader in the green and clean hydrogen space, bringing unparalleled knowledge to the industrial market,” said Dave Gagnon, Chief Executive Officer and Chairman of the Board, Charbone Hydrogen. “While we continue to expand our green hydrogen production capabilities as well as our surrounding ecosystem, we are also exploring other clean hydrogen sources, such as white hydrogen. Our future initial investment in this area will be measured, but as we gain confidence in its potential, we will scale up to maximize shareholder value .”

CHARBONE’s green hydrogen production is set to begin later this year at its Sorel-Tracy, Quebec facility, with plans to launch a second site near Detroit, Michigan by year-end. The Company is also actively expanding its workforce and targeting additional high-potential markets, including New York, Ontario, Pennsylvania, Illinois, Wisconsin, and California.  Additionally, CHARBONE has been invited to propose projects in two large-scale Requests for Information (RFIs). By 2030, the Company aims to establish 16 green hydrogen production facilities across North America.

Capital Management Update

In line with previous announcements on November 17, 2023, and July 24, 2024, CHARBONE has finalized remuneration debt settlements totaling $180,000 involving key management personnel, including the CEO. Following Exchange approval and disinterested shareholder consent on December 19, 2023, 1.8 million Common Shares have been issued to settle the debt. These shares are subject to a four-month statutory hold period.

About Charbone Hydrogen Corporation

CHARBONE is an integrated green hydrogen company focused on creating a network of modular green hydrogen production facilities across North America. Using renewable energy, CHARBONE produces eco-friendly dihydrogen (H2) for industrial, institutional, commercial, and future mobility users. CHARBONE is currently the only publicly traded pure-play green hydrogen company, with shares listed on the TSX Venture Exchange (TSXV: CH); the OTC Markets (OTCQB: CHHYF); and the Frankfurt Stock Exchange (FSE: K47). Learn more at www.charbone.com .

Forward-Looking Statements

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