Under the agreement with ERCO Worldwide, HTEC is set to purchase land, a portion of which ERCO will lease back on a long-term basis to continue its manufacturing operations, including the generation of by-product hydrogen gas.
Subject to commercial closing conditions, the land transaction is expected to close in March 2023, with the target of the hydrogen plant being operational by the end of 2025.
Colin Armstrong, President and CEO of HTEC, said, “Entering this agreement is a significant milestone for our company and validates our growth in the hydrogen industry. The planned project will be an important enabler in the deployment of hydrogen applications in BC and the Pacific Northwest and will generate significant regional environmental and economic benefits”
HTEC has said this would be the one of several hydrogen facilities it plans on building in the Canadian province to provide fuel for the growing network of hydrogen refuelling stations.
Read more: HTEC’s British Columbia hydrogen stations retailing at $10.15kg per kg
Ed Bechberger, President and CEO of ERCO, commented, “For over a century, ERCO has stood as an industry leader in the manufacturing of salt-based electrolysis products. Since 1957, our North Vancouver location has served customers in BC and internationally through the Port of Vancouver.
This strategic agreement with HTEC greatly improves our energy efficiency and facilitates the capture of an existing hydrogen stream supporting our commitment to sustainability.”
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