Calgary, Alberta--(Newsfile Corp. - July 29, 2024) - Green Impact Partners Inc. (TSXV: GIP) ("GIP" or the "Company") is pleased to announce that the Company has finalized the carbon credit pathways under the Alberta Technology Innovation and Emissions Reduction ("TIER") program for its flagship project, the Future Energy Park, to be located in Calgary, Alberta. In addition, as part of ongoing development activities, GIP has also successfully finalized agreements to sequester the biogenic CO2 from the facility.
"Achieving this milestone is a significant accomplishment for GIP as it confirms the anticipated final revenue profile and economics of the project. It's been a tremendous effort, and I'm extremely proud of our team for bringing these items across the line," said Jesse Douglas, Chief Executive Officer. "I'm thrilled the Future Energy Park is now positioned to move forward with debt financing which would typically take four to six months. We're closer than ever to breaking ground on this first-of-its-kind facility, and I look forward to the positive impact this project will have on the City of Calgary and the Province of Alberta."
The Future Energy Park will be North America's largest carbon negative biofuels facility spanning both the agriculture and energy sectors by using non-food grade wheat to create ethanol and renewable natural gas ("RNG"). The project will create approximately 800 jobs over 24 months during construction and 100 direct and indirect jobs during operations. The facility's estimated annual production will be approximately 4 million gigajoules of renewable natural gas, over 300 million litres of ethanol, and approximately 595,000 tonnes of wet distilled grains.
The project has received the following regulatory approvals:
- Environmental Protection and Enhancement Act ("EPEA") approval from the Government of Alberta's Ministry of Environment and Protected Areas for the construction and operation of the Future Energy Park;
- Alberta Utilities Commission ("AUC") approval to construct and operate a 30-MW natural gas-fired cogeneration facility for the Future Energy Park. The cogeneration plant will provide high efficiency steam, hot water and electricity to the biofuels facility as part of its integrated operations philosophy; and
- Land Use Approval from the City of Calgary.
About Green Impact Partners
Green Impact Partners is forging a path towards a sustainable future by turning waste into clean, renewable energy. With a focus on renewable natural gas and clean bio-energy projects, our mission is to acquire, develop, construct, and operate facilities that not only produce energy but also play an important role in waste reduction and lowering emissions. Our comprehensive approach spans the entire project life cycle, from idea generation through construction to ongoing operations. In addition to our RNG and clean bio-energy projects, GIP maintains a current portfolio of water and solids treatment and recycling facilities in Canada, alongside a solids recycling business in the United States.
Traded on the TSX Venture Exchange under the symbol GIP, Green Impact Partners invites you to join us in our journey to create a more sustainable future. For more information about GIP, please visit www.greenipi.com.
Investor & Analyst Inquiries:
Nikolaus Kiefer
Chief Investment Officer
(236) 476-3445
investors@greenipi.com
Cautionary Statements
This news release contains forward-looking statements and/or forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. When used in this news release, such words as "estimates", "would", "will", "anticipates", "approximately", "expects", "believes", "explores" and similar expressions, as they relate to GIP, or its management, are intended to identify such forward-looking statements. Such forward-looking statements reflect the current views of GIP with respect to future events, and are subject to certain risks, uncertainties and assumptions. Certain information and statements contained in this news release constitute forward-looking statements, including, but not limited to: estimated tonnes of carbon credits; number of estimated jobs to be created and construction timelines; projected production levels. Many factors could cause GIP's actual results, performance or achievements to be materially different from any expected future results, performance or achievement that may be expressed or implied by such forward-looking statements. These forward-looking statements are subject to numerous risks and uncertainties, including but not limited to: the impact of general economic conditions in Canada and the United States, industry conditions including changes in laws and regulations and/or adoption of new environmental laws and regulations and changes in how they are interpreted and enforced in Canada and the United States; volatility of prices for energy commodities; change in demand for clean energy to be offered by GIP; competition; lack of availability of qualified personnel; obtaining required approvals of regulatory authorities, in Canada and the United States; ability to access sufficient capital from internal and external sources; many of which are beyond the control of GIP; and certain other risks and uncertainties detailed in GIP's Management's Discussion and Analysis for the years ended December 31, 2023 and 2022 and from time to time in GIP's public disclosure documents available under the Company's profile on www.sedarplus.ca.
The forward-looking statements contained in this news release are made as of the date of this release, and except as may be expressly required by law, GIP disclaims any intent, obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Management of GIP has included the above summary of assumptions and risks related to forward-looking statements provided in this news release in order to provide shareholders with a more complete perspective on GIP's current and future operations and such information may not be appropriate for other purposes. GIP's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits GIP will derive therefrom.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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