The Canada Infrastructure Bank (CIB) is providing a $246.8 million (CAD 337 million) loan to Vancouver-based HTEC to accelerate the deployment of hydrogen production and refueling infrastructure.

The funds will expedite and expand HTEC’s operations in British Columbia and Alberta, the CIB said in a news release. The investment will contribute to the implementation of HTEC’s full-service, sustainable fuel supply chain focused on reducing emissions in the transportation sector, called H2 Gateway.

HTEC plans to build and operate an interprovincial network of up to 20 hydrogen refueling stations to support the deployment of fuel cell vehicles and advance greener transportation solutions, according to the release.

The refueling stations will be supported by three new electrolyzers located in Burnaby, Nanaimo and Prince George, and a facility that liquefies 15 metric tons per day of vented by-product hydrogen in North Vancouver.

Once fully operational, greenhouse gas emissions will be reduced by approximately 133,000 tonnes annually, the CIB estimates.

The CIB’s financing “will help accelerate the implementation of hydrogen technology and help mitigate uncertainty in the rate and pace of hydrogen adoption, which have historically been barriers to private investment in sustainable fuel production and infrastructure,” it said.

“Our partnership creates the right conditions for HTEC to expand its operations aimed at reducing greenhouse gas emissions in the transportation sector,” CIB CEO Ehren Cory said. “By investing in hydrogen production, distribution, and refuelling infrastructure, we are accelerating the deployment of this sustainable fuel solution. New partnerships in this emerging sector will help increase domestic hydrogen production and ensure Canada is economically competitive in a decarbonizing world”.

“Unlocking the potential of clean hydrogen is an essential step in decarbonizing and growing a prosperous, clean economy in Canada. It is also essential for Canada, as a country with over 100 years of experience in hydrogen innovation and proven global leadership in the energy space, to assist our democratic allies as they decarbonize and enhance their energy security,” Canadian Minister of Energy and Natural Resources Jonathan Wilkinson said.

“As outlined in our Hydrogen Progress Update, remarkable advancements have been made to the hydrogen landscape in Canada since the release of our Hydrogen Strategy in 2020. Today’s CIB announcement is a further testament to this federal government’s support for sustainable energy innovation in the race to net zero,” he added.

“The H2 Gateway vision for HTEC is now being realized. With the CIB’s strategic investment, we are poised to establish highly sustainable hydrogen ecosystems that will drive the adoption of zero-emission transportation and support larger regional hydrogen hubs,” HTEC CEO Colin Armstrong said. “An investment of this magnitude signals confidence in HTEC and the network of dedicated partners delivering safe, low-carbon energy solutions, putting Canada on the map”.

Extracted in full from:  https://www.rigzone.com/news/cib_invests_247mm_to_hasten_hydrogen_infrastructure_in_canada-27-may-2024-176876-article/

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