Azolla Hydrogen commissions fuel cell hydrogen production unit
The AZ225 Biodrome unit has been commissioned by Azolla Hydrogen of Calgary and is now fully functional.
According to the company, the unit has undergone extensive testing and has functioned superbly. They also thank Bilton Welding and Manufacturing of Innisfail, Alberta for helping with the project.
Fuel-cell spec hydrogen is produced on-site using Azolla Hydrogen’s Biodrome technology and is available for client dispensing. The AZ225 unit will have a 424 square foot size and be able to produce 225 kilogram of hydrogen per day (pictured above).
The system is stated to be seamless and effective thanks to the unit’s integration of 400 bar Neuman & Esser compressor and Azolla’s Biodrome technology.
Cadent presents proposal for hydrogen heated towns
For the potential creation of a hydrogen town pilot in the Cheshire West and Chester and a town in the Humberside region as well, Cadent has presented an outline proposal to the government.
The government is currently reviewing proposals for the initial pilot hydrogen heated towns throughout all UK gas network locations.
The locations of the proposed communities have not yet been decided. The government is anticipated to announce later in March 2023 which potential areas would be developed. At the earliest, 2030, the hydrogen towns are not likely to be realized.
Trafigura sets new green hydrogen goal
According to its most recent sustainability report, commodities trader Trafigura has set a new goal for itself: by the conclusion of its 2030 financial year, it wants to have invested in 3GW worth of green hydrogen projects.
With the new aim, the Singapore-based corporation foresees a major increase in spending. The company is collaborating with H2 Energy, a Swiss company in which Trafigura has invested more than $62 million, to build a 1 GW facility at Esbjerg in southwest Denmark.
Charbone closes final tranche of non-brokered private placement
The third and final installment of Charbone Hydrogen Corporation’s previously announced private placement financing of the company’s units (Offering) has been completed for gross amounts of $555,400.
The company has raised $1,197,600 overall through the Offering when adding the two prior closings together.
One common share of the company (Unit Share) and one common share purchase warrant (Common Share Purchase Warrant) were included in each unit offered (Unit), which cost $0.12 per Unit (Warrant). For a period of 24 months following the closing date of the Offering, each Warrant will allow the holder to purchase one additional common share of the firm at an exercise price of $0.20. (Closing Date). The third and final tranche of the Offering was closed with the issuance of 4,628,335 Units overall.
At the Closing Date, the Company committed to paying a registered finder a $2,880 finder’s fee and issuing 24,000 finder’s warrants in exchange for the finder’s introduction of a qualified subscriber to the Company.
In accordance with National Instrument 45-106 – Prospectus Exemptions (Regulation 45-106 regarding Prospectus Exemptions in Québec), the Units were offered using the “accredited investor” exemptions.
The Company intends to use the proceeds from the third and final tranche of the Offering to purchase equipment in advance of the next phases of its Sorel-Tracy green hydrogen project as well as for general working capital needs.
Following the Closing Date, all securities issued in connection with the Offering are subject to a statutory hold period of four months and one day in Canada.