- Charbone Hydrogen (TSXV:CH) announced a temporary service reduction at its Wolf River Hydro LP hydropower plant following an equipment failure
- The green hydrogen company explained that an independent third-party hydropower specialist is currently investigating the issue to determine the necessary repairs
- In the meantime, Wolf River employees and consultants are working with regulatory bodies and local authorities to monitor and control the water levels of the upstream pond and river, aiming to minimize environmental impacts.
- Charbone Hydrogen stock (TSXV:CH) last traded at $0.065
Charbone Hydrogen (TSXV:CH) announced a temporary service reduction at its Wolf River Hydro LP hydropower plant following an equipment failure.
In a news release, the green hydrogen company explained that an independent third-party hydropower specialist is currently investigating the issue to determine the necessary repairs.
In the meantime, Wolf River employees and consultants are working with regulatory bodies and local authorities to monitor and control the water levels of the upstream pond and river, aiming to minimize environmental impacts. Local stakeholders will receive daily updates on water levels and operations. 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 line with its strategy to focus exclusively on green hydrogen production, Charbone announced in April, that it would be selling two hydroelectric projects, including Wolf River. The company remains committed to pursuing the sale of these assets to generate non-dilutive resources that will support the development of its green hydrogen plant portfolio.
Once the equipment specialist’s investigation is complete, Charbone will evaluate all options for the Wolf River hydropower plant to ensure alignment with shareholder interests.
Charbone Hydrogen Corp. develops modular and expandable hydrogen facilities. Through the acquisition of hydropower plants in the United States and Canada, Charbone will be able to produce green dihydrogen molecules using reliable and sustainable energy to distinguish itself as a provider of an environmentally friendly solution for industrial and commercial enterprises.
Charbone Hydrogen stock (TSXV:CH) last traded at $0.065.
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(Top photo via Charbone Hydrogen Corp.)
