On October 15, 2025, StormFisher Hydrogen Ltd. (“StormFisher Hydrogen”) announced the acquisition of Recyclage Carbone Varennes (“RCV”) following a court–approved process.

With the acquisition, StormFisher will build on RCV's existing infrastructure and expertise to transform the partially built RCV site in Varennes, Québec, into the first large-scale Renewable Fuels of Non-Biological Origin (RFNBO)-compliant low-carbon methanol plant in North America. Unlike the initial RCV project, which relied on biomass gasification to produce methanol, StormFisher will use clean hydrogen and captured CO2 to produce methanol, an approach proven to be simpler, cleaner, more reliable and more resilient.

The methanol produced in Varennes aims to support the decarbonization of the maritime industry in Québec and around the world by providing a more sustainable alternative to fossil fuels.

StormFisher Hydrogen develops, owns, and operates large-scale renewable hydrogen and e-fuels projects across North America, supplying fuels to global markets. 

Torys acted as counsel to StormFisher Hydrogen with a team led by Guillaume Lavoie and that included Amy Maginley, Andrew Cooley, Brendan Dean, Ana Ioanas, Yasmine Mekallach and Chiara Lasquety with senior support from Krista Hill (corporate/M&A), David Bish, Julie Himo, Simon-Alexandre Poitras and Alec Angle (restructuring and court approval), Scott Kraag (financing), Omar Wakil and Ian Li (foreign investment), Michael Fortier (environmental), Tom Stevenson, Corina Manole and Alexandre Boisjoly-Rivest (employment), Ed Fan and Denver Bandstra (IP) and Craig Maurice (tax).