Canada Infrastructure Bank and HTEC partner to advance hydrogen infrastructure with $337 million investment

Company

The Canada Infrastructure Bank

Law Firm / Organization
Davies Ward Phillips & Vineberg LLP

Company

HTEC

Law Firm / Organization
Blake, Cassels & Graydon LLP

On May 24, 2024, Canada Infrastructure Bank (CIB) partnered with Vancouver-based HTEC to accelerate hydrogen production and refuelling infrastructure deployment. The CIB’s $337 million loan will expand HTEC’s operations in British Columbia and Alberta, focusing on their H2 Gateway initiative. This $900 million program aims to establish a comprehensive hydrogen fuel supply chain to reduce transportation emissions. The investment will support the creation of up to 20 hydrogen refuelling stations and three new hydrogen production facilities, creating over 280 full-time jobs. Additionally, it includes a facility in North Vancouver to liquefy 15 tonnes per day of vented by-product hydrogen. The initiative will enable the refuelling of up to 300 heavy-duty vehicles daily, significantly cutting greenhouse gas emissions by approximately 133,000 tonnes annually. Legal advisors for this partnership include Fasken Martineau DuMoulin LLP. This investment marks the third through the CIB’s Charging and Hydrogen Refuelling Infrastructure (CHRI) initiative, emphasizing Canada's commitment to clean energy and decarbonization. Previous support for HTEC includes $5 million from PacifiCan and $3 million from Natural Resources Canada.

Financing/Investment
Energy
$ 337,000,000
Closed
24 May 2024