StormFisher Hydrogen Ltd. is in due diligence with advisors regarding project finance for its Varennes, Quebec e-Methanol project.

The London, Ontario-based company is positioning the former Recyclage Carbone Varennes (RCV) site as North America’s first commercial e-Methanol facility. The project is compliant with European regulatory standards for renewable fuels of non-biological origin (RFNBO).

CEO Judson Whiteside said the company is preparing to enter capital markets in the coming months, with engineering underway and a target FID of early 2027 and COD in early 2029. The company will seek to raise $200 million in project equity.

The Varennes facility was acquired in fall 2023 after RCV entered a creditor protection process and the original investors stepped back from the project. It comes with infrastructure, including 80 acres, 230kV energized interconnection, substations, and long-term renewable power from HydroQuébec.

StormFisher has secured sustainable water access from the St. Lawrence Seaway and is contracting nearby biogenic CO₂ from landfill and ethanol facilities.

Whiteside confirmed StormFisher is preparing to raise project equity and debt. The company now has roughly 30 employees, including engineering, CO₂ sourcing, power market specialists, and a dedicated offtake team.