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INDUSTRIAL | Basic Materials
atlantichydrogen.com

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Founded Year

2004

Stage

Unattributed - II | Alive

Total Raised

$10.38M

Last Raised

$380K | 7 yrs ago

About Atlantic Hydrogen

Atlantic Hydrogen is building a solution to greenhouse gas emissions

Atlantic Hydrogen Headquarter Location

527 Dundonald Street Suite 142

Fredericton, New Brunswick, E3B 1X5,

Canada

Latest Atlantic Hydrogen News

Venture-backed Atlantic Hydrogen files for bankruptcy

Jan 31, 2017

Venture-backed Atlantic Hydrogen files for bankruptcy September 30, 2015 Atlantic Hydrogen Inc has filed for voluntary bankruptcy. Deloitte, the appointed trustee, will initiate a process to find a buyer for the company’s assets. Based in Fredericton, New Brunswick, Atlantic Hydrogen developed technology called CarbonSaver, which separates carbon and hydrogen from natural gas without emitting greenhouse gases. Founded in 2004, it received funding from several investors, including Emera Inc, Kyoto Capital Partners and New Brunswick Innovation Foundation. Files for Bankruptcy September 29, 2015 FREDERICTON, New Brunswick–(BUSINESS WIRE)–Atlantic Hydrogen Inc. (AHI) announced today that it has filed for voluntary bankruptcy pursuant to the Bankruptcy and Insolvency Act (Canada). Deloitte has been appointed trustee for the proceedings. The Board of Directors of AHI made the decision to file after they determined it would be in the best interest of the company and its stakeholders. Consistent with proceedings of this nature, AHI’s directors have resigned and the employment of the management team and employees has been discontinued. “It’s disappointing to take this step today, but we think the employees and many stakeholders of AHI have reason to be proud. In 2004, AHI was born out of a bold idea to create a revolutionary clean energy technology. While we were not able to take the idea all the way to commercialization, many people did tremendous work along this journey,” said Bill Stanley, Chairman of the AHI Board of Directors. “We give our deepest thanks to our talented employees who have stood by AHI through difficult times. We wish them the very best in their future pursuits.” “AHI still believes in the vast potential of the CarbonSaver technology. Although progress has continued, we haven’t reached the point of the technology being commercially viable, which has limited our ability to attract additional funding,” said Mr. Stanley. “That’s why we feel this was the right thing to do.” The key focus of AHI’s work has been to find an efficient, non-polluting way to decarbonize natural gas to generate hydrogen and carbon. As part of the next steps, Deloitte will initiate a process to find a buyer for the assets of the company. The proceeds from the sale will be used as outlined in the Bankruptcy and Insolvency Act. Contacts C. William (Bill) Stanley, 506-640-2048 william.stanley@ah2inc.com Photo courtesy of  New Brunswick Innovation Foundation Take your pick! Buyouts delivers exclusive news and analysis about private equity deals, fundraising, top-quartile managers and more. Get your FREE trial or subscribe now . VC Journal provides exclusive news and analysis about venture capital deals, fundraising, top-quartile investors and more. Get your FREE trial  or subscribe now . Sign up to our Newsletter Receive updates from our PE HUB Wire and Top Stories of the Week newsletters: First Name:

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Atlantic Hydrogen Patents

Atlantic Hydrogen has filed 2 patents.

patents chart

Application Date

Grant Date

Title

Related Topics

Status

7/18/2013

3/6/2018

Electromagnetic radiation, Fluid dynamics, Chemical reactions, Chemical processes, Electromagnetism

Grant

00/00/0000

00/00/0000

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Application Date

7/18/2013

00/00/0000

Grant Date

3/6/2018

00/00/0000

Title

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Related Topics

Electromagnetic radiation, Fluid dynamics, Chemical reactions, Chemical processes, Electromagnetism

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Status

Grant

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