HTEC secures $217 million to expand network of hydrogen fuelling stations

On September 8, 2021, HTEC Hydrogen Technology Corporation (HTEC) finalized a $217 million investment in the company by Chart Industries, Inc. and I Squared Capital. The investment was transacted by way of a private placement of HTEC shares from treasury and the purchase of HTEC shares from existing shareholders employees of HTEC.

Vancouver-based HTEC is a leading provider of hydrogen solutions to both consumers and industry. The investment will help it fund new green hydrogen production projects and expand its network of hydrogen fuelling stations.

Blake, Cassels & Graydon LLP represented HTEC with a team consisting of Steven McKoen, Borna Pirzadeh and Darren Whitehouse (Securities/M&A); Navin Joneja and Victoria Skot (Competition); and Kevin Zimka (Tax).

Chart was represented by Winston & Strawn LLP with a team consisting of Matt Stevens and David Chambers and by Stikeman Elliott LLP with a team consisting of Kevin Custodio and Stefan Vrinceanu.

I Squared was represented by Stikeman Elliott LLP with a team consisting of David Masse, Barbara Sheng, Olivier Elmoznino and Beatrice Gervais and by Kirkland & Ellis LLP with a team consisting of John Pitts, Kyle Watson, Maggie Hoffman.