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CALGARY, AB, May 12, 2022 /CNW/ - Green Impact Partners Inc. (TSXV: GIP.V) is moving forward with the development of the Future Energy Park – an innovative clean energy project connecting Alberta's agriculture and energy sectors. Located within the City of Calgary, Future Energy Park is a proposed net CO2 negative biofuels facility using non-food grade wheat to produce renewable natural gas ("RNG"), and ethanol.
"A first of its kind, Future Energy Park is an exciting opportunity for us to link the circular economy and decarbonize agriculture and our energy future," said Jesse Douglas, Chief Executive Officer. "The facility will be fully integrated, co-producing two forms of renewable fuels using advanced technology, including CO2 capture from the production process to go beyond the goal of net zero CO2 emissions."
Future Energy Park represents a nearly $1.0 Billion investment in Alberta and the City of Calgary. Once operational, the facility is expected to produce approximately 3.5 million MMBtu per year of RNG, over 300 million litres of ethanol annually, approximately 235,000 tonnes of cattle feed annually, and create carbon credits.
Jesse Douglas added, "This significant investment in Alberta will advance the local contribution to the province's existing Renewable Fuels Standard which requires no less than 5% renewable fuel content for gasoline blended in the province. Currently, there is a domestic ethanol supply gap which we hope to fill by using a unique and technologically advanced process. The Future Energy Park will forge a new path between Alberta's energy and agriculture sectors as we work collectively towards making a positive impact and building sustainable, resilient communities for generations to come."
The proposed facility is being sited in an industrial area in southeast Calgary and will be constructed and operated on 52 acres of land designated for future industrial use. Subject to receipt of major regulatory approvals, Green Impact Partners is targeting completion in late 2024 to early 2025.
To learn more about the Future Energy Park, visit greenipi.com/portfolio/future-energy-park/
About Green Impact Partners
We are focused on creating a sustainable and inclusive future by developing clean energy, with a near term focus on RNG projects. We acquire, develop, and build RNG projects, with the intention of owning and operating a portfolio of RNG facilities. We participate in a wide range of zero-carbon opportunities during any stage of the project lifecycle – from idea generation through to operations. We have a growing portfolio of RNG projects under development, representing over $2 billion in anticipated capital expenditures over the next three years. In our pursuit of net zero earth impact, we are positioned to be a leading producer of decarbonizing energy in North America.
Green Impact Partners' common shares trade on the TSX Venture Exchange under the symbol GIP.V. To learn more visit us at greenipi.com.
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 release, such words as "would", "will", "anticipates", 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. 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, including the ongoing COVID-19 pandemic; 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. Forward-looking statements included in this news release should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such forward-looking statements.
Readers are encouraged to review and carefully consider the risk factors pertaining to GIP described in the Company's annual MD&A for the year ended December 31, 2021, which is accessible on GIP's SEDAR issuer profile at www.sedar.com. The forward-looking statements contained in this release are made as of the date of this release, and except as may expressly be 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.
Management of GIP has included the above summary of assumptions and risks related to forward-looking statements provided in this 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.
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SOURCE Green Impact Partners Inc.
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