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Charbone and Elogen in PEM electrolyzers deal

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To secure its supply chain of PEM electrolyzers for up to 100MW over a four-year period from 2023 to 2026, Charbone and Elogen have signed a non-binding Letter of Intent, and the parties will negotiate a final multi-year master supply agreement on or before November 30, 2022.

For all of Charbone’s North American green hydrogen projects, the PEM electrolysers that Elogen will provide to Charbone will be made up of a combination of the full range of products that Elogen offers, including the 0,5 MW, 1,0 MW, and 5,0 MW.

The parties will discuss the PEM electrolysers’ final delivery dates, models, quantities, and prices in accordance with the terms of the Agreement. The LOI also contains a clause that allows Charbone to consider and exercise an option to assemble and/or manufacture the PEM electrolysers and other components locally in Canada and the United States under the supervision of Elogen , subject to terms and conditions that will be negotiated and agreed upon by the parties during the validity period. The Agreement and other customary conditions for this type of agreement must still be negotiated and executed in order for the transaction to be completed.

“Charbone is truly pleased to announce this non-binding LOI for the negotiation of a multi-year’s master supply agreement with Elogen , a strong partner and true leader in the field of engineering and manufacturing of electrolysers,” said Dave Gagnon, CEO and Chairman of Charbone. “The combined strengths of Elogen in membrane technologies with multiple patents, and the engineering, manufacturing and servicing expertise make the offered products a reliable choice and a bankable solution for Charbone expanding rapidly into the decarbonization of the Canadian and North American economy.”

“This strategic LOI conducting to a formal multi-year’s master supply agreement of Elogen technology with Charbone shows the road path for Elogen entry into the North American market, comments Jean-Baptiste Choimet, Managing Director at Elogen. It is consistent with our strategy of teaming up with strong local partners before entering a new geographic area. We look forward to our collaboration with Charbone, an innovation-driven company, with a strong vision on green hydrogen production and a focus on developing green hydrogen ecosystems, from renewable energy to production, from regional hubs to end-users.”

Anela Dokso

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