Canadian clean energy company Proton Technologies Canada is announcing a crowdfunding campaign that accelerates the launch of its potentially revolutionary clean hydrogen business while providing a way for everyday people to invest early in its business.
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(Photo: Business Wire)
The crowdfunding campaign, called “Clear Hydrogen; Clear Conscience,” sees Proton Technologies Canada partnering with environmentally focused crowdfunding platform, Wayblaze, to help raise $500,000 in two rounds. Funds will be used to obtain hydrogen tube-trailers for storage and transportation and to construct a loading terminal at Proton’s site near Kerrobert, Saskatchewan.
“People are hungry for solutions to serious problems like air pollution,” says Grant Strem, Chair and CEO of Proton Technologies Canada. “For years, our fans have told us they want to help us grow and proliferate our technology in any way possible, but fundraising regulations limit private investing opportunities to accredited investors. This crowdfunding exemption provides a path for non-accredited regular Canadians to buy private shares in a company they feel passionate about.”
Hydrogen is already a big industry but if created using carbon-negative methods, the resulting “clear hydrogen” is expected to be a popular product as its use helps companies accelerate down the path to net zero or lower. Proton Technologies Canada has use of patents and IP within Canada and 10 countries in the European North Sea region, and it plans to make clear hydrogen at low cost and large scale from many sites. Roughly twenty-five countries have created national hydrogen strategies as a means of decarbonizing their economies, and more still have made international commitments for net reductions in carbon emissions.
The main process of Proton Technologies Canada involves injecting large quantities of oxygen and CO2 into late stage or abandoned oil fields where chemical reactions liberate hydrogen. A downhole hydrogen filter can allow only hydrogen to come in, leaving carbon trapped underground.
The first campaign for $250,000 opened May 3rd and will stay open 45 days unless full earlier. The second campaign, also for $250,000, is expected to rapidly follow the first and stay open 45 days unless the target is reached earlier.
To learn more, visit Proton’s crowdfunding webpage at https://wayblaze.com/proton
Proton’s Chair & CEO Grant Strem is available for media interviews.