CHARBONE Hydrogen Addresses Temporary Service Disruption at Legacy Wolf River Hydropower Plant, Reinforces Focus on Green Hydrogen Production
Brossard, Quebec, January 10, 2025 – TheNewswire – CHARBONE HYDROGEN CORPORATION (TSXV: CH; OTCQB: CHHYF; FSE: K47) (the “Company” or “CHARBONE”), North America’s only publicly traded pure-play green hydrogen company, announces a temporary service reduction at its Wolf River Hydro LP (“Wolf River”) hydropower plant following an equipment failure. An independent third-party hydropower specialist is investigating to determine the scope of repairs required.
Wolf River employees and consultants are ensuring the safety and security of the facility, while collaborating with regulatory bodies and local authorities to monitor and control the water levels of the upstream pond and river, minimizing environmental impacts. Daily updates on water levels and operations will be provided to local stakeholders. Due to current weather conditions, the public is advised to exercise caution when approaching the ice cover.
The Wolf River hydropower plant is one of CHARBONE’s legacy assets. In alignment with its strategy to focus exclusively on green hydrogen production, CHARBONE announced on April 23, 2024, would be selling two hydroelectric projects, including Wolf River. CHARBONE remains committed to pursuing the sale of these assets to generate non-dilutive resources that will advance its green hydrogen plant development portfolio.
Dave Gagnon, CEO of CHARBONE, in the April 2024 announcement, said :
These legacy hydropower assets have played an important role in CHARBONE’s journey, but as we focus on the construction of our flagship Sorel-Tracy facility and the deployment of 15 additional green hydrogen production plants across North America, their sale aligns with our long-term strategy,
Following the completion of the equipment specialist’s investigation, CHARBONE will evaluate all options for the Wolf River hydropower plant that would align with shareholder interests.
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CHARBONE Hydrogen Addresses Temporary Service Disruption at Legacy Wolf River Hydropower Plant, Reinforces Focus on Green Hydrogen Production, source
