HTEC Announces Agreement with ERCO Worldwide

VANCOUVER, British Columbia - Dec. 5, 2022 - PRLog -- HTEC, Canada's leading clean hydrogen solutions company, has entered into an agreement with ERCO Worldwide ("ERCO") to purchase its industrial land in North Vancouver, BC. ERCO will lease back a portion of the land on a long-term basis to continue its manufacturing operations, including the generation of by-product hydrogen gas through electrolysis. HTEC intends to construct a 15-tonne per day clean hydrogen plant to capture, purify and process the by-product hydrogen to meet the growing market demand for low-carbon transportation fuels.

HTEC built one of its first hydrogen refueling stations in North Vancouver, and this proposed project will further strengthen the company's presence in the District.

"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," says Colin Armstrong, President and CEO of HTEC. "HTEC has a strong history of collaboration with ERCO, and we are thrilled to join forces to provide hydrogen as a clean fuel alternative to the region."

"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," says Ed Bechberger, ERCO's President & CEO.

The land transaction is subject to customary commercial closing conditions and is anticipated to close in March 2023. The proposed clean hydrogen plant is targeted to be operational by year-end 2025. This project will be one of several hydrogen facilities that HTEC is building in BC to provide fuel for the growing network of hydrogen fueling stations. The company's first hydrogen production facility is expected to begin operations by year-end 2023.

About HTEC:

HTEC works across the clean hydrogen value chain, developing, integrating and operating clean hydrogen energy solutions in strategic North American markets to enable the transportation sector's transition to a low-carbon future. The company designs, builds, owns and operates hydrogen fuel production, infrastructure and supply solutions to support the deployment of hydrogen electric light-medium- and heavy-duty transportation.

HTEC: Fueling the Drive to Hydrogen. www.htec.ca

For Media Inquiries:
Ambika Maitra
Director of Communications
amatra@htec.ca
604-904-0412

Audrey Marande
Communications Coordinator
amarande@htec.ca
604-904-0412