PRINCE RUPERT
Lease Option Signed Between Prince Rupert Legacy and Hydrogen Based Project on Watson Island

The City's wholly owned development arm, Prince Rupert Legacy Inc has signed a lease option agreement for 79 acres on Watson Island with renewable energy development company, Hy2gen Canada Inc. (Hy2gen). The project proposes a green energy export project on the existing brownfield site. 

"We are always looking for opportunities to grow the tax base and diversify our economy. The future of Canada's energy sector goes through Prince Rupert," said Mayor Herb Pond. "Green energy export projects will support BC's economy and climate goals, while giving Prince Rupert sustainable revenues for the foreseeable future."

Hy2gen AG (Wiesbaden) is a global company with a Montreal-based Canadian subsidiary founded in 2018. It has an operational hydrogen facility in Germany and several other projects in varying phases of development in France, the Nordic countries, the United States and Canada. 

"The Prince Rupert opportunity is one we want to explore in further detail," said Pietro Di Zanno, Hy2gen Canada Managing Director. "The attributes of the city and its location with the support of the province of British Columbia figure prominently in our ability to develop a successful green energy export project focused on the Asian market." 

BACKGROUND: 

Prince Rupert Legacy Inc. (PRLI) is a 100% wholly owned development corporation of the City of Prince Rupert. Incorporated in 2014, the company has four directors, appointed by Prince Rupert City Council - the City Manager, the Deputy City Manager, the Director of Corporate & Legislative Services and the Chief Financial Officer of the City of Prince Rupert.