Canadian Government to loan CAD $125m to EverWind Fuels for Nova Scotia project

EverWind Fuels has secured a CAD $125m ($91.2m) loan from the Canadian Government to support the development of its green hydrogen and ammonia hub in Nova Scotia.

The company reached an agreement in principle on the terms of the debt facility with Export Development Canada, pending final due diligence. The loan is planned to support renewable power generation and clean hydrogen production for export to Germany and elsewhere.

In February (2023), the company received Environmental Approval for the first phase of the $6bn, one million tonnes per year project in Point Tupper Nova Scotia.

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