CHARBONE HYDROGEN Announces the execution of a Memorandum of Understanding with TELESYTEM ENERGY for the development and deployment of a hydrokinetic demonstration project to support green hydrogen pr

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Charbone Hydrogen Corporation

Brossard, Québec – TheNewswire - November 16, 2022 – CHARBONE HYDROGEN CORPORATION (TSXV:CH) (“Charbone”) is pleased to announce the execution of a Memorandum of Understanding dated November 15, 2022 (the “MOU”) with Telesystem Energy Ltd. (“Telesystem”) for the mutual cooperation, development, design, construction, and operation of an initial riverbed hydrokinetic project showcasing Telesystem’s TE-1 power system (the “Project”) to support green hydrogen production.

Charbone and Telesystem will subsequently negotiate the terms and conditions of a definitive agreement (the “Agreement”) for a first project to be selected by the two partners using the TE-1 power system, either to be implemented at one of Charbone’s hydropower generation plants to increase its revenue under an existing power purchase agreement from the energy supplied by the TE-1 power system, or as a stand alone project to be implemented into a region where Charbone is planning to develop and build a green hydrogen facility.

Charbone will use its expertise in the development, construction, and operation of renewable power systems, while Telesystem will use its expertise to support Charbone in the selection of an appropriate location and will provide a differentiated renewable power generation technology in the TE-1 power system. The Project is intended to showcase TE-1’s low-cost renewable baseload power production which captures energy through water current reliably and at high-capacity factor, and without any in river civil works. The TE-1 power system has been designed using established and commercially proven components, integrated with proprietary Telesystem innovation, resulting in what the parties believe is a revolutionary river hydrokinetic power system.

The collaboration with Telesystem Energy and the Sirois family to supply renewable baseload energy through the implementation of a state-of-the-art technology developed over the past 7 years, with what we believe has significant global potential, is a new strategic milestone for Charbone,” said Dave B. Gagnon, Chairman and CEO of Charbone. “The need for green hydrogen powered with renewable baseload energy is increasing in many areas where no hydropower dams are installed, and the ability to leverage the TE-1 technology in rivers, canals, and some of the 80,000 North American non-powered dams is a significant opportunity for Charbone”.


“We are pleased to team up with Charbone to provide renewable baseload energy in the production of green hydrogen. Our TE-1 renewable baseload power system coupled with Charbone’s hydrogen capabilities are mutually beneficial and will provide a unique and complete solution in producing green hydrogen” said Denis M. Sirois, CEO of Telesystem Energy. “Charbone’s deep energy expertise and ambitious strategic plan aligns Telesystem Energy as a preferential partner.”

About Charbone Corporation Hydrogen

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.

About Telesystem Energy

Telesystem Energy Ltd is a cleantech company which has designed the world’s most efficient, and reliable hydrokinetic system, which produces renewable baseload power at low cost. The Telesystem Energy TE-1 power system produces electricity by converting kinetic energy from water currents to electrical energy, requiring no in-water civil works (i.e. dams or river diversion), while benefiting from the smallest installed footprint and lowest environmental impact of all currently commercialized energy solutions.

Forward-Looking Statements

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 “will”, "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. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in the Corporation’s Filing Statement dated March 31, 2022, which is available on SEDAR at, and the ability of Charbone and Telesytem to enter into a mutually acceptable Agreement in respect of the Project.

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.


Dave B. Gagnon


Daniel Charette

Chief Executive Officer and Chairperson of the Board


Chief Operating Officer

CHARBONE Hydrogen Corporation


CHARBONE Hydrogen Corporation

Telephone: +1 450 678-7171


Telephone: 1 514 980 5841

Email: [email protected]


Email: [email protected]


Benoit Veilleux

Chief Financial Officer

CHARBONE Hydrogen Corporation

Telephone: +1 450 678-7171

Email: [email protected]


Denis M. Sirois                                                 Graham Schmidt

Chief Executive Officer                                        Chief Financial Officer

Telesystem Energy Ltd.                                        Telesystem Energy Ltd.

Telephone: +1 514 397 8464                                        Telephone: +1 514 228 5195

Email:        [email protected]                        Email: [email protected]


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