Owen Sound based Hydrogen Optimized Inc. (HOI) will use a repayable $3.5 million Government of Canada contribution to expand production of clean Hydrogen.
On Thursday, Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), announced the investment at HOI’s headquarters. The company plans to install advanced manufacturing equipment, which will create about 50 new high-skilled jobs.
HOI’s patented RuggedCell technology has the potential to produce zero-emissions hydrogen at an industrial scale. Major industries can use the hdydrogen which is created using electricity generated from renewable sources such as wind, solar, and hydro. That will support the road to decarbonization for industries including steel, ammonia, and cement.
“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," said Mayor Ian Boddy. "We look forward to seeing Hydrogen Optimized’s future growth, research, and innovation.”
“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," said Tassi. "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.”
“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," said Andrew T.B. Stuart, President and Chief Executive Officer, Hydrogen Optimized Inc. "This community offers a depth of skilled people and business-friendly culture that makes it a great place to invest.”
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.