Government of Canada Invests $3.5 Million to Support Expansion of Clean Hydrogen Company in Owen Sound

HOI’s cutting-edge, patented technology known as RuggedCell™ is known around the world and has the potential to produce zero-emissions hydrogen at an industrial scale and is changing the accessibility and production of clean hydrogen. This technology produces green hydrogen using electricity generated from renewable sources such as wind, solar, and hydro, which supports the decarbonization of major industries such as steel, ammonia, and cement.

This project is expected to create 50 new high-skilled jobs and support the company’s ability to export to new markets in the U.S. and Europe.

Following the investment announcement, Mayor Ian Boddy joined Minister Tassi and other dignitaries for a Community Economic Development Roundtable for Bruce and Grey Counties at Owen Sound City Hall. At the meeting, participants discussed future opportunities for economic development, upcoming challenges, and partnerships with government, industry, and regional organizations.

Quotes:

“This investment in Hydrogen Optimized from FedDev Ontario continues to build momentum for Owen Sound’s future economy as we focus on clean energy and nuclear isotopes. We look forward to seeing Hydrogen Optimized’s future growth, research, and innovation.”

-Mayor Ian Boddy

“With this investment, Hydrogen Optimized and its dedicated workforce will continue to build on its potential and establish the company as a key manufacturer in the global energy market. Our government is pleased to support the growth of clean energy and innovative technology so we can work together to create good jobs for rural communities and build a greener and more sustainable future for Canadians.”

-The Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario

“With support from the Government of Canada through FedDev Ontario, we are expanding production of our RuggedCell™ water electrolyzers and creating 50 new full-time jobs in Owen Sound. This community offers a depth of skilled people and business-friendly culture that makes it a great place to invest.”

-Andrew T.B. Stuart, President and Chief Executive Officer, Hydrogen Optimized Inc.

Quick Facts:

• FedDev Ontario has announced a repayable contribution of $3.5 million for Owen Sound-based Hydrogen Optimized Inc. (HOI)
• HOI was incorporated in 2017 by President and CEO Andrew Stuart.
• HOI staff has recently grown to about 60 employees as the impact of the FedDev funding takes effect. Additional staff will be hired as production starts, adding 50 new jobs in total.
• Hydrogen Optimized is located in the former Tenneco Plant in Owen Sound.

About FedDev Ontario:

For 14 years, the Government of Canada, through FedDev Ontario, has worked to advance and diversify the southern Ontario economy through funding opportunities and business services that support innovation, growth and job creation in Canada’s most populous region. The Agency has delivered impressive results, which can be seen in southern Ontario businesses that are creating innovative technologies, improving productivity, growing revenues, creating jobs, and in the economic advancement of communities across the region. Learn more about the impacts the Agency is having in southern Ontario by exploring our pivotal projects, our Southern Ontario Spotlight, and FedDev Ontario’s Twitter, Facebook, Instagram and LinkedIn.

Contacts:

For more information about the Federal Economic Development Agency for Southern Ontario, please contact Edward Hutchinson, Press Secretary, at edward.hutchinson@feddevontario.gc.ca

For more information about Economic Development for the City of Owen Sound, please contact Paul McGrath, Manager of Community & Business Development at 519-376-4440 ext. 1254 or email pmcgrath@owensound.ca.

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