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A $ 1 billion green hydrogen project in Becancour

A $ 1 billion green hydrogen project in Becancour

The company aims to convert tons of waste, from paper to non-recyclable plastics, including wood bark and wood waste from disassembly, into energy.

Every year in Quebec, 960,000 tons of recycling are produced. We estimate 52%. So 48% currently go to landfill. We offer a solution to this problem. We will eliminate wasteExplains Norman Jowett, President and CEO of H2 V Énergies.

According to Mr. Joyette, producing a ton of this green energy requires 5.25 times less electricity than the widespread technology that uses electrolysis of water.

To proceed, however, the project must obtain approval from the Office of Public Hearings on the Environment (BAPE). Meanwhile, the investor has already convinced the first partner to invest $ 35 million and hopes to complete the financing by the end of the hearings Door.

Currently, there is an urgent global need. When you look at the plastic floating in the sea, the animals that eat it and die from it … our youth! What we want to do is invest in companies like this one for the planet. Reducing greenhouse gases: How are we going to get there? This project will allow production of between 50 and 80,000 tons without emissions. Not only does it produce hydrogen, it also collects all the wasteRichard Tremblay, Chairman of Performance Globale TPC3 Holdings, and Project Financial Partner, explains.

first step

In addition to this partner, Normand Joyette claims that he 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 are targeting to start operating in the first quarter of 2024, asking for $ 100 million from the Infrastructure Bank [du Canada]. We’re talking about $ 197 million to the county government, including $ 97 million in equity , Mr. Goyette determines. Thus, the two government orders are expected to jointly invest approximately $ 300 million.

In return, the economic benefits to the government will be approximately $ 131 million per year., He adds. For the entire project, total benefits are estimated at $ 201 million. About a hundred high-quality jobs Around $ 45 an hour As per promoter.

Mayor’s support

For more than a decade, several large projects were announced but never materialized. Rare Minerals Quest planned to invest $ 1.6 billion in the industrial park. For its part, IFFCO promised a $ 1.3 billion project.

Timminco Solar Panels has also been planning hundreds of millions of dollars in plant. Cliff Minerals was also eyeing the area. Despite these many disappointments, the mayor remains optimistic.

The important thing is that the first sentence becomes correct. There is a cross door. However, it is very exciting, as it is a modern project. We talk a lot about clean technologies and green technologies. It is very logicalAs Jean-Jay Dubois says.