March 28, 2023

The Queens County Citizen

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$ 1 billion green hydrogen production project in Beaconcore

$ 1 billion green hydrogen production project in Beaconcore

The company aims to convert wood bark and waste wood from paper to non-recyclable plastics into energy.

Quebec produces 960,000 tons of recycling each year. We value 52%. So 48% are currently going to landfills. We offer a solution to this problem. We remove waste, Explains Normond Goethe, President and CEO at H2 V Énergies.

According to Mr. Goethe, this green energy requires 5.25 times less electricity than the widespread technology that uses hydrolysis to produce a ton.

However, in order to move forward, the project must be approved by the Office of Public Hearing (BAPE) on the environment. At this point, the promoter has already convinced the first partner to invest $ 35 million and hopes to complete the financing by the end of the trial. BAPE.

Currently, there is a global need. When we see the plastic floating in the sea, the animals that eat it and die from it … our young people! What we want to do is invest in such companies for the planet. Greenhouse Gas Reduction: How Do We Get There? The project will enable production of between 50 and 80,000 tonnes with zero emissions. It is not only for the production of hydrogen, but also for the removal of all waste, Performance by Richard Tremble, President of Global TPC3 Holdings and Financial Partner of the project.

The first step

In addition to this partner, Normond Goet has already found other financial partners in California and in the banking sector. The promoter also seeks regional and federal governments.

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We aim to launch in the first quarter of 2024, we request $ 100 million from Infrastructure Bank [du Canada]. We are talking about $ 197 million to the regional government, including $ 97 million in equity , Directs Mr. Goet. The two government directives are expected to jointly invest nearly $ 300 million.

In turn, the financial benefits to the government are 131 million per year., He adds. For the entire project, the total benefits are estimated at $ 201 million. About a hundred high-quality jobs $ 45 per hour Created according to the promoter.

Mayor support

For more than a decade, many large-scale projects have been announced, but never materialized. Rare Minerals Quest plans to invest $ 6 1.6 billion in the industrial park. IFFCO has promised a $ 1.3 billion project.

Timminko Solar Panels is also planning a plant worth hundreds of millions of dollars. Cliff Minerals also focuses on this area. Despite these many disappointments, the city mayor is optimistic.

The important thing is that the first sentence came true. There is a BAPE to cross. However, it is very exciting because it is an up-to-date project. We talk a lot about clean technologies and green technologies. It makes a lot of sense, Says Jean-Guy Dubois.