In the instance of the license given in May 2022 to the Canadian CHARBONE HYDROGEN and criticized since then by the latter, GAUSSIN has commenced arbitration proceedings.
On May 23, 2022, GAUSSIN made an exclusive 20-year agreement with Charbone Hydrogen for the local production and marketing of APM and ATM zero-emission vehicles in Canada. The parties still needed to agree on a few specifics of this partnership, which was established by a legally binding letter of intent.
On October 14, 2022, Charbone Hydrogen unexpectedly and without consultation renounced the deal. As a result, GAUSSIN has decided to start arbitration procedures on October 31, 2022, with a claim for C$14.1 million plus interest and fees. The arbitral tribunal’s present composition is under the control of the Swiss Arbitration Center.
