CHARBONE HYDROGEN Corporation announced the execution of an agreement to a long-term lease (the "Lease") of three HYUNDAI NEXO hydrogen fuel cell vehicles through FOSS National Leasing that will be used to promote and demonstrate green hydrogen mobility in the Montreal area and other parts of the country. These vehicles, which are to be delivered in the next three to four months, will have the ability to be filled at the Charbone Hydrogen Refueling Station (the "HRS") at the Sorel-Tracy Quebec facility, which is currently under construction. Charbone intends to announce additional HRS facilities across Canada, in addition to a proposed corridor between Quebec City and Detroit Michigan, where Charbone has already announced a future acquisition of hydropower plants.
Charbone has also announced a partnership with RESATO B.V. for the exclusive distribution of RESATO's HRS systems in Canada, with an option to be manufactured locally. For Charbone, Hyundai Canada represents a true partner in the Canadian market to promote green mobility in view of the fact Hyundai has more electrified nameplates in the mainstream market than any other brand, and is one of the first to offer a hydrogen fuel cell-powered vehicle in Canada.
Charbone believes that for the impending energy transition and future of mobility, green hydrogen is the optimal fuel. Charbone's partnership with Hyundai Canada will be instrumental in the pursuit of its mission and values. The leasing agreement with FOSS National Leasing will also play a critical role in the deployment of Charbone pan-Canadian green hydrogen production facilities, with the fleet of Hyundai NEXO vehicles being used by employees at those facilities to promote the viability of hydrogen mobility.