CPE News (3.04.2024) – StormFisher Hydrogen Ltd. has secured a $30 million investment from ARC Financial Corp.
Nishka Gupta and Colin Bergman from ARC Financial have joined the board of StormFisher Hydrogen with Gupta assuming the chair position.
The funding will be used to develop an existing pipeline of projects in the United States and Canada.
Led by CEO Judson Whiteside and EVP Chris Guillon, StormFisher Hydrogen Ltd. develops, owns, and operates electrolysis-based clean fuel production facilities. With its track record in developing and operating clean fuel facilities, StormFisher serves its customers with sustainable and reliable fuel supply, to meet the needs of traditionally hard to decarbonize sectors. The company produces clean hydrogen, e-methane, e-methanol, and green ammonia, creating local energy security, and providing export opportunities to Asia Pacific and European markets.
photo credit: StormFisher Hydrogen Ltd.
News Release
StormFisher Hydrogen Secures $30 Million from ARC Financial to Develop e-Fuel Production Facilities
TORONTO and HOUSTON, March 4, 2024 /CNW/ – StormFisher Hydrogen, a low carbon fuel facility development company, has secured a $30 million investment from ARC Financial Corp. The funding will be used to develop an existing pipeline of projects in the United States and Canada.
Since its inception in 2006, StormFisher has been focusing on projects to produce low carbon fuels at scale. The recent successful sale of its organic waste-to-energy division has allowed StormFisher to focus on the production of renewable electricity derived fuels, also called e-fuels, that will meet the rapidly expanding demand for these products as industries evolve in their energy transition. StormFisher, now known as StormFisher Hydrogen, has been actively working on e-fuel facilities since 2018, building off its success in producing Renewable Natural Gas (RNG) at scale, and has now created a robust pipeline to deploy several billions of dollars in capital over the next 5-10 years for these facilities. The capital infusion from ARC Financial accelerates StormFisher Hydrogen’s developments that will produce electrolysis-based fuels including clean hydrogen, e-methane, e-methanol, and green ammonia.
StormFisher Hydrogen is developing several facilities capable of converting up to 300 megawatts (MW) of renewable electricity from wind and solar into e-fuels. These low carbon fuels will have the ability to decarbonize hard-to-abate sectors such as natural gas utilities in North America as well as through the liquefied natural gas (LNG) supply chain, heavy industries such as refineries, ammonia production facilities, steel plants, glass, cement and other industries with large process and thermal loads, as well as the marine sector. Each StormFisher facility can produce enough e-methane to lower the carbon emissions from over 60,000 homes, or enough e-methanol to fuel a container ship transporting 350,000 cargo containers from Europe to the United States. To drive its expansion, StormFisher Hydrogen has re-enlisted three key executives from its past successes: Brandon Moffatt, EVP – Project Development and Execution; Chris Guillon, EVP – Commercial Operations and Finance; and Pearce Fallis, EVP – Project Origination and Development.
“We’re excited to bring our depth and expertise in low carbon fuel facility development to support global organizations seeking to reach net zero emissions,” said Jud Whiteside, CEO of StormFisher Hydrogen. “With this new funding, we now have the capital and partners to apply our years of experience building clean energy infrastructure to unlock the full decarbonization potential of e-fuels for organizations across the globe.”
“With its seasoned team and proven track record of developing successful projects, StormFisher Hydrogen is well positioned to lead the market as demand for hydrogen-derived fuels accelerates,” said Nishka Gupta, Chair of the Board of StormFisher Hydrogen and Senior Vice-President at ARC Financial. “StormFisher represents our first investment from ARC Energy Fund 10 which is focused on the energy transition, highlighting our commitment to StormFisher Hydrogen,” added Brian Boulanger, CEO at ARC Financial. The $30 million investment will provide capital to develop StormFisher Hydrogen’s pipeline of facilities projects across the United States and Canada.
About StormFisher Hydrogen
StormFisher Hydrogen Ltd. develops, owns, and operates electrolysis-based clean fuel production facilities. With its track record in developing and operating clean fuel facilities, StormFisher serves its customers with sustainable and reliable fuel supply, to meet the needs of traditionally hard to decarbonize sectors. The company produces clean hydrogen, e-methane, e-methanol, and green ammonia, creating local energy security, and providing export opportunities to Asia Pacific and European markets. www.stormfisher.com
About ARC Financial Corp.
Founded in 1989, ARC Financial Corp. is committed to building high-performing businesses that address the world’s energy and sustainability needs. To date, ARC has raised over $6.3 billion across eleven energy-focused funds and invested in more than 180 companies across the energy landscape. ARC’s newest funds, ARC Energy Fund 10 and ARC Energy Fund 11, are uniquely positioned to support Canadian entrepreneurs within the North American energy spectrum. ARC Energy Fund 10 is focused on infrastructure development and energy services & manufacturing opportunities in energy transition, while ARC Energy Fund 11 is focused on Canadian oil & gas opportunities, which will continue to play a critical role in satisfying the world’s energy demands through the energy transition. www.arcfinancial.com
SOURCE StormFisher Hydrogen
For further information: Press contacts: For StormFisher: Kerri Ryan, media@stormfisher.com; For ARC Financial: Tanya Causgrove, tcausgrove@arcfinancial.com