Mr. Dave Gagnon reports

CHARBONE HYDROGEN ANNOUNCES THE LEASE OF THREE HYUNDAI NEXOS THROUGH FOSS NATIONAL LEASING, TO PROMOTE ZERO-EMISSIONS HYDROGEN MOBILITY IN MONTREAL

Charbone Hydrogen Corp. has leased three Hyundai Nexos hydrogen-powered automobiles through Foss National Leasing to promote zero-emissions hydrogen mobility in Montreal, Que., Canada. Charbone took possession of three latest-generation 2023 Hyundai Nexo hydrogen fuel cell automobiles on Friday, June 9, 2023, at Brossard Hyundai dealership premises on Taschereau Boulevard in the suburban city of Brossard, Que. The keys handover ceremony was attended by members of Charbone management, Hyundai representatives as well as the dealership staff.

The Nexos will be used by the company management to promote and demonstrate the use of mobility powered by green hydrogen in the Montreal areas, federal, provincial, municipal authorities, and other stakeholders in Canada and the United States. Charbone's geographic market target is the continental North America.

The vehicles will be presented and make their Montreal premiere by Charbone during the Grand Prix Festival on Crescent Street from June 15 to June 18 inclusively. The general public will be able to familiarize themselves with the technologies related to the production, distribution and uses of the green hydrogen produced by Charbone and the technology of Hyundai cars. They will also have the chance to see and learn about vehicle filling techniques with an on-site compressed hydrogen refuelling station.

Charbone announced an agreement with the Filgo-Sonic Group on Dec. 12, 2022, for the establishment of a network of refuelling stations in Quebec.

Hyundai Canada represents a true partner for Charbone in the Canadian market to promote green mobility especially given that Hyundai has more electrified nameplates in the consumer market than any other brand and is one of the first to offer hydrogen fuel cell vehicles in Canada. Charbone believes green hydrogen is the optimal fuel for the impending energy transition and the future of mobility. Charbone's partnership with Hyundai Canada will be decisive in the pursuit of its mission and values. The lease agreement with Foss will also play a key role in the deployment of Charbone's green hydrogen production facilities across Canada.

Nexo is powered by hydrogen, a fully sustainable energy source, which allows the vehicle to emit clean water vapour and purify the air as it is being driven. This technology also provides the vehicle with superior range conservation in cold climates compared with other battery-electric powertrains, making them particularly resilient for Canadian winters. What is more -- a five-minute refill will carry you for up to 570 kilometres.

"Charbone is so excited with the Hyundai Canada and Foss National Leasing partnerships. We are eager to drive them around the Montreal region to showcase the concept of hydrogen as an alternative fuel. This is also an opportunity to demonstrate their effectiveness in the Canadian winter season as there is no reduction of autonomy in cold weather climates with alternate fuels. Charbone and local academic partners will also look to study and report on the reliability of the Hyundai Nexo during the next winter season," stated Dave B. Gagnon, chief executive officer of Charbone.

"The addition of Hyundai Nexo vehicles in Charbone's fleet will be a giant step forward in realizing the viability of hydrogen fuel cell vehicles in Canada, and Quebec in particular," says Ken Maisonville, director of sales, Hyundai Auto Canada. "Decarbonizing mobility as we know it is a monumental undertaking, and we applaud Charbone for their bold work on this front and raising much-needed awareness on energy transition possibilities."

"At Foss National Leasing we understand the future of fleet mobility will be zero emission and are pleased to see innovative companies, like Charbone, taking a position to inform and educate the market about the many options that are being offered. We see fuel-cell-powered vehicles as a viable solution to meet the needs of our clients."

About Charbone Hydrogen Corp.

Charbone is a Canadian green hydrogen group established in North America. The company's strategy is to develop modular and expandable hydrogen facilities and regional hubs. With the acquisition of hydroelectric power plants in the United States and Canada, Charbone will be able to produce green dihydrogen molecules using reliable and sustainable energy in order to distinguish itself as a supplier of an ecological solution for industrial and commercial companies.

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