BROSSARD, QC, Sept. 27, 2022 /CNW Telbec/ - CHARBONE HYDROGEN Corporation (TSXV: CH) ("Charbone") is pleased to announce the execution, as of August 16, 2022, of an agreement to lease (the "Lease") an office space and associated office services with "The PIER" at the Halifax Seaport. The PIER, a center for port innovation, planning and strategy, has been established by the Halifax Port Authority and is a sector-focused living lab for maritime transportation and logistics.

Halifax was seen as the perfect mid-sized city and port to host "The PIER", with its burgeoning innovation ecosystem. Halifax has been growing its innovation capacity through its post-secondary institutions such as Dalhousie's leading scientific research in marine shipping research, big data, and maritime policy.

For Charbone, "The PIER" is the perfect place to locate its basecamp for the deployment of modular and expandable green hydrogen regional hubs in the Atlantic Canada provinces, where the current renewable energy production sector represents a bright future for the production and the use of green hydrogen, as well as the export of green hydrogen in the medium term, after having decarbonized its own economy.

Charbone's first expected presence in the Atlantic Canada provinces was recently announced on June 21, 2022, following the execution of a memorandum of understanding with Port Hawkesbury Paper, LP to develop and construct a green hydrogen production facility at the Port Hawkesbury Mill Site, Nova Scotia. The definitive agreement and the long-term lease are currently under negotiation between the parties and shall be concluded before the end of the year. The project is expected to consist of an initial installation of a 0.5-megawatt production unit to create the initial momentum and to supply its green hydrogen on newly develop utilization projects.

"Charbone is excited to join this living lab, which represents growing opportunities in the Atlantic region for port and marine purposes," said Dave B. Gagnon, Chairman and CEO of Charbone. "The PIER" represents for us our commitment to decarbonize, one step at the time, each sector of our economy. At Charbone, we value all the partners who have chosen to set a business office at "The PIER". For us, its a major opportunity to network and make a real change in Halifax and the Atlantic region".

Charbone is a Canadian green hydrogen company established in North America. The company's strategy consists of developing modular and expandable hydrogen facilities. Through the acquisition of hydropower plants in the United States and in Canada, Charbone intends to produce green dihydrogen molecules using reliable and sustainable energy to distinguish itself as a supplier of an environmentally friendly solution for industrial and commercial companies.

"The PIER is a global showcase for sector innovation in transportation, supply chain and logistics. Through bringing together a complementary mix of operating partners, innovators, tech companies and researchers, The PIER creates a context where partners collaborate, innovate and tackle persistent industry problems that no one party can solve."

www.thepierhfx.com 

This news release contains statements that are "forward-looking information" as defined under Canadian securities laws ("forward-looking statements"). These forward-looking statements are often identified by words such as "intends", "anticipates", "expects", "believes", "plans", "likely", or similar words. Specifically, this news release includes forward-looking statements regarding certain statements regarding Charbone's future product developments, and markets, including with respect to specific indications, and any other statements which are other than statements of historical fact and the expected timing of such events. The forward-looking statements reflect Charbone's respective management's expectations, estimates, or projections concerning future results or events, based on the opinions, assumptions and estimates considered reasonable by management at the date the statements are made. Although Charbone believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on forward-looking statements, as unknown or unpredictable factors could cause actual results to be materially different from those reflected in the forward-looking statements. Among the key factors that could cause actual results to differ materially: the availability of substantial capital in the future to fund Charbone's operations. The forward-looking statements may be affected by risks and uncertainties in the business of Charbone.

Except as required under applicable securities legislation, Charbone undertakes no obligation to publicly update or revise forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Charbone Hydrogen Corporation

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