Calgary, Alberta--(Newsfile Corp. - December 11, 2023) - Green Impact Partners Inc. (TSXV: GIP) ("GIP" or the "Company") is pleased to announce it has received its 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 - an estimated $1.2 billion renewable biofuels facility to be located along the eastern edge of the City of Calgary. This significant achievement is the culmination of nearly two years of technical and environmental review, along with extensive consultation and engagement with local stakeholders and Indigenous communities.
"This approval represents an extraordinary milestone for the project, and I'm extremely proud of our regulatory, engineering and development teams for their dedicated efforts that have enabled this major regulatory approval to become a reality," commented Jesse Douglas. "I'd also like to extend our sincere thanks to the Calgary community, the City of Calgary, Rocky View County and the Province of Alberta for their engagement and support of this great project. With all our major discretionary permits now secured, our team will continue to advance the project towards financial close."
The Future Energy Park is a pioneering development that spans two of Alberta's pivotal economic sectors - energy and agriculture - that is set to leave an indelible mark on the provinces' energy landscape. GIP is committed to fostering enduring, impactful change, while demonstrating the Company's unwavering dedication to technological innovation, environmental stewardship, and sustainable solutions.
Architectural Rendering of Entrance to Future Energy Park and its Grain Silos in the Background
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About the Future Energy Park
- The project will create approximately 800 jobs over 24 months during construction and approximately 100 direct and indirect jobs during operations.
- The facility will provide annual, direct revenue of over $150 million to surrounding rural wheat producers.
- It will provide significant income tax and property tax revenues to the Province of Alberta and the City of Calgary once operational.
- GIP is using local and regional engineering, construction, equipment and service vendors, and environmental firms for the project.
- The facility is being sited in an industrial area in southeast Calgary and will be constructed and operated on 52 acres of land which has been designated for industrial use.
- Once operational, the facility's estimated annual production is over 3.5 million MMBtu of renewable natural gas, over 300 million litres of cellulosic equivalent ethanol, and approximately 350,000 tonnes of high-quality wet distillers' grain.
- The Future Energy Park is expected to be North America's largest carbon negative biofuels facility.
For more information on the Future Energy Park visit https://www.greenipi.com/portfolio/future-energy-park/.
About Green Impact Partners
Green Impact Partners is focused on creating a more sustainable future and inclusive planet by developing clean energy. GIP acquires, develops, and builds RNG and clean bio-energy projects, with the intention of building, owning, and operating a portfolio of producing facilities, and participates in a wide range of zero-carbon opportunities during every stage of the project lifecycle - from idea generation through to operations. GIP has a portfolio of RNG growth opportunities under development and, if all were to achieve final investment decisions, would represent over $3 billion in capital expenditures over the next three years. In its pursuit of net zero earth impact, GIP is positioned to be a leading producer of decarbonizing energy in North America. GIP's shares trade on the TSX Venture Exchange under the symbol GIP.V. For more information about GIP and its projects, visit www.greenipi.com.
Investor & Analyst Inquiries:
Nikolaus Kiefer
(236) 476-3445
investors@greenipi.com
Media Inquiries:
media@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: the anticipated production and performance of the Future Energy Park; receipt of all additional and final permits; annual revenue estimates to wheat producers; estate annual production numbers and ultimate size of the facility; timeline and certainty of financial close; being able to achieve represented growth opportunities that are under development.
The forward-looking statements are based on certain assumptions that GIP has made in respect thereof as at the date of this news release regarding, among other things: that purchase proceeds are available so that all of the transactions contemplated by this news release can ultimately come into effect; that all required regulatory approvals can be obtained or maintained on the necessary terms and in a timely manner, as applicable; that counterparties to the Company's agreements and contracts will comply with the terms thereof in a timely manner; that there are no unforeseen events preventing the performance of contracts; that there are no unforeseen material costs; and that potential investments by third parties are subject to conditions precedent, and satisfaction of those conditions is not assured.
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, 2022 and 2021 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/190483
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