Hydra Energy is Now Registered as an Eligible Business Corporation (EBC) in B.C. Resulting in a 30% Tax Break for Individual and Corporate Investors

VANCOUVER, BC (Sept 29, 2022) – Today, Hydrogen-as-a-Service™ (HaaS™) trucking pioneer, Hydra Energy, announced it has officially registered as an Eligible Business Corporation (EBC) in British Columbia under the Province’s Small Business Venture Capital Program. This means for B.C.-based individuals and companies wanting to invest in Hydra and its continued effort to decarbonise heavy-duty trucking with the only commercially-available, zero-cost, end-to-end green trucking solution, they will receive a 30% tax credit on their investment.

“In a relatively short timeframe and with limited funding compared to other hydrogen trucking companies, we have made tremendous progress and expect to be in revenue in early 2024. We’ve proven our technology works alongside our valuable partners, including in the cold with heavy loads at a cost that is competitive to diesel. We’re the first company to deliver a hydrogen-converted heavy-duty truck to a paying fleet customer, the first company to deliver a hydrogen-converted armoured vehicle, and we just broke ground on the world’s largest hydrogen refuelling station in Prince George forming a template that future HaaS licensees can replicate,” explained Hydra Energy CEO, Jessica Verhagen. “Our hope is that by now being a registered EBC, individual and corporate investors in B.C. have a home-grown tech company to support and can benefit and be part of building out our flagship project in Prince George while simultaneously advancing our proprietary hydrogen-diesel, co-combustion technology to reduce truck emissions beyond 40% per vehicle.”

The Small Business Venture Capital Program offers tax credits to investors to encourage them to make equity capital investments in B.C.-based small businesses. The government recognises that creating new small businesses and expanding existing ones will contribute to a healthy economy. These programs give these businesses continuous access to early-stage venture capital to help them develop and expand.

For more information on investing in Hydra and benefiting from Hydra’s new EBC registration, please contact us here.