Elogen signed a non-binding Letter of Intent (LOI) with Charbone Hydrogène Corporation (Charbone) with a view to executing no later than November 30, 2022, a multi-year master supply agreement.

Under this agreement, Elogen will supply Charbone with PEM[1] electrolysers for a total capacity of up to 100 megawatts over a period of 4 years (2023-2026), intended for Charbone’s green hydrogen projects in North America.

The agreement will set the delivery dates, models, quantities and prices of the PEM electrolysers to be delivered. The letter of intent also provides that Charbone can ensure the assembly, and/or the local manufacturing in Canada and the United States, of the PEM [1] electrolysers and other components, under the supervision of Elogen.

Jean-Baptiste Choimet, Managing Director of Elogen, comments: “This strategic LOI with Charbone paves the way for Elogen’s entry into the North American market. It is part of our strategy to forge partnerships with strong local players. We are delighted with this collaboration with Charbone, a company focused on innovation, with which we share an ambitious vision regarding the development of green hydrogen production.”

Dave Gagnon, CEO and Chairman of Charbone, declares: “Charbone is truly pleased to announce this non-binding LOI with Elogen for the negotiation of a multi-year’s master supply agreement. Elogen is a strong partner and true leader in the field of engineering and manufacturing of electrolysers. The combined strengths of Elogen in membrane technologies with multiple patents, and the engineering, manufacturing, and servicing

[1] Proton Exchange Membrane.

expertise make the offered products a reliable choice and a bankable solution for Charbone expanding rapidly into the decarbonization of the Canadian and North American economy.”