Home Truck News CIB, HTEC launch $337M initiative to accelerate hydrogen network in Western Canada...

CIB, HTEC launch $337M initiative to accelerate hydrogen network in Western Canada – Truck News

The Canada Infrastructure Bank (CIB) has partnered with HTEC, a Vancouver-based hydrogen supplier, investing $337 million towards hydrogen production and refueling stations in Western Canada, the companies announced Friday in a joint news release.

The $337 million loan will expedite and expand HTEC’s operations in British Columbia and Alberta, enabling HTEC’s H2 Gateway program, an estimated $900-million initiative aimed at building hydrogen infrastructure ecosystems at targeted regional hubs. 

The investment will bring up to 20 hydrogen refueling stations to British Columbia and Alberta, more than doubling the amount of refueling stations in Canada and supporting the transportation sector in adopting hydrogen-fueled vehicles. 

CIB Chief Investment Officer John Casola (left) and HTEC CEO Colin Armstrong. (CNW Group/Canada Infrastructure Bank)
Left to right: CIB Chief Investment Officer John Casola and HTEC CEO Colin Armstrong. (Photo: CNW Group/Canada Infrastructure Bank.)

The partnership represents the third investment through the CIB’s Charging and Hydrogen Refueling Infrastructure (CHRI) initiative, which is focused on expanding the private sector’s rollout of large-scale charging and hydrogen refueling infrastructure.

“New partnerships in this emerging sector will help increase domestic hydrogen production and ensure Canada is economically competitive in a decarbonizing world,” said Ehren Cory, CIB chief executive officer, in a release.

“Producing clean fuels like hydrogen right here in B.C. to replace diesel use for transportation helps to reduce harmful pollution while creating new jobs and opportunities in the clean economy,” added Josie Osborne, B.C.’s Minister of Energy, Mines and Low Carbon Innovation.

133,000 tones of emissions to be cut annually 

Fourteen of the 20 new stations will enable the refueling of up to 300 heavy-duty vehicles per day, according to the release. 

These refueling stations will be supported by three new hydrogen production facilities located in Burnaby, Nanaimo and Prince George to expand Canada’s low-carbon fuel supply capacity. HTEC will also build a facility that liquefies 15 tones per day of vented by-product hydrogen in North Vancouver.

HTEC estimates that more than 280 full-time jobs will be created to build, operate and support the hydrogen infrastructure, adding that once fully operational, the transportation sector’s greenhouse gas emissions are estimated to be reduced by approximately 133,000 tones annually.

Rendering of HTEC liquefaction facility. (CNW Group/Canada Infrastructure Bank)
Rendering of HTEC liquefaction facility. (CNW Group/Canada Infrastructure Bank)

The CIB’s investment builds on previous support HTEC has received from Canada to advance clean transportation, including $5 million from PacifiCan’s Business Scale-up and Productivity funding and $3 million from Natural Resources Canada’s Zero Emissions Vehicle Infrastructure Program for its 2-tonne-per-day low-carbon hydrogen production and liquid transfer facility in Burnaby, B.C.

“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,” said Jonathan Wilkinson, Minister of Energy and Natural Resources, in a release. “Today’s CIB announcement is a further testament to this federal government’s support for sustainable energy innovation in the race to net zero.”


Credit: Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

Electric Truck Market Prediction by 2024 – Worldwide Top Players Analysis, Demand and Trends in 2031 – WhaTech

Electric Truck Market Prediction by 2024 – Worldwide Top Players Analysis, Demand and Trends in 2031  WhaTech Credit: Source link

Drivewyze brings PreClear weigh station bypass to Manitoba – Truck News

Drivewyze announced a new partnership with the Manitoba Department of Transportation and...

Carriers with women-specific recruiting initiatives have more female drivers, ATRI says – Truck News

Carriers that implement women-specific recruiting and retention initiatives have a higher percentage...

Truckstop introduces pet verification badge amid Take Your Pet to Work week – Truck News

According to Truckstop’s recent survey of more than 450 of its carrier...

UBC builds green hydrogen fueling station for trucks – Truck News

The University of British Columbia (UBC) has opened a Smart Hydrogen Energy...