Charbone Hydrogen Corporation (TSX-V:CH, OTCQB:CHHYF) has inked a non-binding term sheet for a construction capital facility of up to $50 million with an international renewable energy infrastructure fund manager.
The green hydrogen company said the agreement, which carries a six-month term, is aimed at supporting Charbone’s deployment strategy across its production and distribution network in North America.
“Signing this term sheet for a construction capital facility of US$50 million is a determining moment for Charbone and all of its stakeholders,” said Dave Gagnon, CEO of Charbone.
“Going forward, Charbone expects to add this construction financing to its other sources of financing to better support its entire deployment strategy.”
The company said the construction financing is expected to complement other sources of funding already in place.
Charbone bills itself as North America’s only publicly traded pure-play company focused solely on green hydrogen.
Investors welcomed the update, sending Charbone's shares 18.2% higher late morning on Thursday.