News Press Releases

Charbone Hydrogen Announces the Lease of Three Hyundai NEXOs Through Foss National Leasing, to Promote Zero-Emissions Hydrogen Mobility in Montreal

V.CH | June 12, 2023

(TheNewswire)

Brossard, Québec – TheNewswire - June 12, 2023 – CHARBONE HYDROGEN CORPORATION (TSXV:CH), (OTC:CHHYF, (FWB:K47) (“Charbone”) is pleased to announces the lease of Three (3) Hyundai NEXOs Hydrogen Powered Automobiles through Foss National Leasing to promote zero emissions hydrogen mobility in Montreal, Quebec, Canada. Charbone took possession of three latest-generation 2023 Hyundai NEXO hydrogen fuel cell automobiles on Friday, June 9, 2023, at Brossard Hyundai dealership premises on Taschereau Boulevard in the suburban City of Brossard, Quebec. The keys handover ceremony was attended by members of Charbone management, Hyundai representatives, as well as the dealership staff.

The NEXOs will be used by the company management to promote and demonstrate the use of mobility powered by green hydrogen in the Montreal areas, federal, provincial, municipal authorities and other stakeholders in Canada and United States. Charbone's geographic market target is the continental North America.

The vehicles will be presented and make its Montreal Premiere by Charbone during the Grand Prix Festival on Crescent Street from June 15 to June 18 inclusively. The general public will be able to familiarize themselves with the technologies related to the production, distribution and uses of the green hydrogen produced by Charbone and the technology of Hyundai cars. They will also have the chance to see and learn about vehicle filling techniques with an on-site compressed hydrogen refueling station.

Charbone announced an agreement with the Filgo-Sonic Groupon December 12, 2022, for the establishment of a network of refueling stations in Quebec.

Hyundai Canada represents a true partner for Charbone in the Canadian market to promote green mobility especially given that Hyundai has more electrified nameplates in the consumer market than any other brand and is one of the first to offer hydrogen fuel cell vehicles in Canada. Charbone believes Green Hydrogen is the optimal fuel for the impending energy transition and the future of mobility. Charbone's partnership with Hyundai Canada will be decisive in the pursuit of its mission and values. The lease agreement with FOSS will also play a key role in the deployment of Charbone's green hydrogen production facilities across Canada.

NEXO is powered by hydrogen, a fully sustainable energy source, which allows the vehicle to emit clean water vapour and purify the air as it is being driven. This technology also provides the vehicle with superior range conservation in cold climates compared to other battery electric powertrains, making them particularly resilient for Canadian winters. What’s more – a five-minute refill will carry you for up to 570 KM.

“Charbone is so excited with the Hyundai Canada and Foss National Leasing partnerships. We are eager to drive them around the Montreal region to showcase the concept of hydrogen as an alternative fuel. This is also an opportunity to demonstrate their effectiveness in the Canadian Winter Season as there is no reduction of autonomy in cold weather climates with alternate fuels. Charbone and local academic partners will also look to study and report on the reliability of the Hyundai NEXO during the next Winter season” Stated Dave B. Gagnon, CEO of Charbone.

“The addition of Hyundai NEXO vehicles in Charbone’s fleet will be a giant step forward in realizing the viability of hydrogen fuel cell vehicles in Canada, and Quebec in particular,” says Ken Maisonville, director of sales, Hyundai Auto Canada. “Decarbonizing mobility as we know it is a monumental undertaking, and we applaud Charbone for their bold work on this front and raising much-needed awareness on energy transition possibilities.”

“At Foss National Leasing we understand the future of fleet mobility will be zero emission and are pleased to see innovative companies, like Charbone, taking a position to inform and educate the market about the many options that are being offered. We see fuel cell powered vehicles as a viable solution to meet the needs of our clients.”

About Charbone

Charbone is a Canadian green hydrogen group established in North America. The company's strategy is to develop modular and expandable hydrogen facilities and regional hubs. With the acquisition of hydroelectric power plants in the United States and Canada, Charbone will be able to produce green dihydrogen molecules using reliable and sustainable energy in order to distinguish itself as a supplier of an ecological solution for industrial and commercial companies.

About Hyundai Canada

Hyundai Auto Canada, established in 1983 and headquartered in Markham, Ontario, was the first subsidiary of Hyundai Motor Company outside of Korea. Hyundai offers Canadian consumers a technology-rich lineup of cars, SUVs, and electrified vehicles. Today, with over 250 dealerships across Canada, Hyundai is the official automotive partner of the National Hockey League Players’ Association (NHLPA) and the National Hockey League (NHL®) in Canada. Hyundai has been recognized as one of the Top 50 Best Workplaces™ in Canada for the last five years by the Great Place to Work® Institute. For more information about Hyundai and its products, please visitwww.hyundainews.ca

About FOSS National Leasing

Foss National Leasing is Canada’s premier fleet leasing and fleet management company.

We offer leasing for fleets of all sizes, as well as support programs including fuel and maintenance management, logistics, storage, and driver training, all designed to keep your fleet on the road and productive. We’re known as industry innovators offering proprietary, web-based tools that help companies manage their car and truck fleets more efficiently and economically. We also know that many customers have specific, if not unique, needs. That’s why we’re leaders in developing the right solutions for fleets as small as four or as large as 4,000. We offer coast-to-coast coverage in Canada and globally through our arrangement with LeasePlan International.

Forward-Looking Statements

This news release contains statements that are “forward-looking information” as defined under Canadian securities laws (“forward-looking statements”). These forward-looking statements are often identified by words such as “intends”, “anticipates”, “expects”, “believes”, “plans”, “likely”, or similar words. The forward-looking statements reflect management's expectations, estimates, or projections concerning future results or events, based on the opinions, assumptions and estimates considered reasonable by management at the date the statements are made. Although Charbone believes that the expectations reflected in the forwardlooking statements are reasonable, forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on forward-looking statements, as unknown or unpredictable factors could cause actual results to be materially different from those reflected in the forward-looking statements. The forward-looking statements may be affected by risks and uncertainties in the business of Charbone. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in the Corporation’s Filing Statement dated March 31, 2022, which is available on SEDAR at www.sedar.com, along with risks relating to the Offering and the intended use of proceeds of the Offering; they could cause actual events or results to differ materially from those projected in any forward-looking statements.

Except as required under applicable securities legislation, Charbone undertakes no obligation to publicly update or revise forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts

For further information, please contact:

Dave B. Gagnon

Chief Executive Officer and Chairperson of the Board

CHARBONE Hydrogen Corporation

Telephone: +1 450 678-7171

Email: dg@charbone.com

Daniel Charette

Chief Operating Officer

CHARBONE Hydrogen Corporation

Telephone: +1 514 980 5841

Email: dc@charbone.com