StormFisher Hydrogen, an alternative-fuels company that operates in the Toronto area, Calgary and Houston, was the only bidder for RCV’s assets, reported La Presse. Those include a complex with an unfinished biofuel plant and hydrogen electrolyzer east of Montreal, a project whose roughly $1.5-billion cost had been partly covered by provincial and federal supports totalling hundreds of millions of dollars. (La Presse, The Logic)
Talking point: RCV filed for creditor protection in March. Its troubles helped take down Montreal waste-to-fuel company Enerkem, which was supplying technology for the Varennes facility. (Enerkem emerged from its own creditor protection earlier this month.) Court filings in RCV’s case indicate that the Canada Infrastructure Bank and Investissement Québec, secured lenders that supported the Varennes project, provided interim financing to keep the company afloat through the sale process. Documents show they were owed more than $286 million when RCV filed.