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Recyclage Carbone Varennes

Construction✓ Source-checked

Recyclage Carbone Varennes Inc. (SPV; Enerkem lead + Shell / Suncor / Proman / Gov of Quebec)

Source: IEA Hydrogen Projects Database (September 2025)

Project Overview

Country
Canada
Region
Quebec
Capacity
100 MW
Technology
PEM Electrolysis
Investment · scope not declared (EUR)
€1.0B

The row also records $888M, which is not this EUR figure converted at EUR_TO_USD = 1.08, fixed on 1 Jun 2026. The two are separate claims.

Subsidy Status
disbursing

The announced investment covers more than the electrolyser

The investment this project announced works out to 7692 EUR/kW of electrolyser, above the 5000 EUR/kW ceiling GaugeH2 accepts for one — so it is not an electrolyser cost. Announced investment usually covers the whole project: the renewables, the storage, the ammonia or e-fuel plant, the port works.

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Development Timeline

AnnouncedDec 2020
FIDMar 2023
Construction—
Operational2026planned date

Status History

DateChangeReasonSource
17 May 2026constructionIEA Tier B Batch 2 — IEA Ref 881—

Readiness Score

70/ 100
Advanced

Weighted checklist of public info. Not a prediction of success.

Development

✓Final Investment Decision(implied)+15
✓EPC Contract signed(implied)+10
✓Permits obtained(implied)+8
✓Grid connection secured(implied)+7

Commercial

✗Binding offtake agreement+15
✓MOU / offtake letter of intent(implied)+5
✗Confirmed price / tariff+5
✓Applied to government program+5

Financing

✓Project finance / debt secured+10
✓Subsidy (disbursing)+10

Track Record

✗Developer has completed H2 project+5
✗Developer has completed RE project+3
✗Developer has energy experience+2
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