Feds offer EverWind $125 million despite many unanswered questions about ‘green hydrogen’ project – Halifax Examiner

November 20, 2023

On Friday, Canada’s minister of housing, infrastructure and communities and MP for Central Nova, Sean Fraser, announced a $125 million federal investment in EverWind Fuels.

EverWind plans to build massive wind farms in Nova Scotia and use the green energy to produce green hydrogen and ammonia in a plant it wants to build in Point Tupper. The ammonia will mostly be shipped to Europe.

The press release states that Fraser made the announcement “alongside Trent Vichie, CEO of EverWind Fuels, Chief Terry Paul, Membertou First Nation; Chief Cory Julian, Paqtnkek First Nation; Chief Wilbert Marshall, Potlotek First Nation; and Mike Kelloway, Member of Parliament for Cape Breton Canso.”

The press release also notes that, “EverWind Fuels and Export Development Canada have reached an agreement in principle on terms for a $125M debt facility to support the project, pending final due diligence.”

Read More: https://www.halifaxexaminer.ca/economy/business-and-development/feds-offer-everwind-125-million-despite-many-unanswered-questions-about-green-hydrogen-project/