Calgary, Alberta–(Newsfile Corp. – April 20, 2023) – Green Impact Partners Inc. (TSXV: GIP) (“GIP” or the “Company”) today reported its results for the year ended December 31, 2022 and key achievements.

2022 was a transformative year for GIP and the Company continues to make great progress as a leader in creating a sustainable and green economy. From 2022 to early 2023, GIP has been working hard to develop and grow its net zero portfolio of projects advancing them with amazing positive impact, with the aim of benefiting all stakeholders involved.

“What a year it has been for our Company, and I’m extremely proud of the work our team has accomplished in a short period of time,” said Jesse Douglas, Chief Executive Officer. “With 2022 now behind us and the first few months of 2023 under our belt, I’m thrilled with the successful execution of our equity process, culminating in a strategic partnership with Amber Infrastructure and bringing our ambitious growth plans to fruition. I’m also excited to see first gas production at our GreenGas Colorado RNG facility. Our team has worked tirelessly to complete construction and commissioning on this hugely impactful RNG facility, knowing this is just one of many facilities which, through its operations by GIP, will make a meaningful environmental impact, all while creating value for our stakeholders.”

Key highlights and accomplishments for 2022 include:

Executed $545 Million Strategic Partnering Agreement: Following a successful financing process in 2022, in early 2023, GIP announced it selected Amber Infrastructure Group as a strategic partner to advance the Company’s current and future projects. This partnership provides greater financing certainty to continue advancing GIP’s pipeline of projects to execution, in addition to showing the immense value still to be realized by its shareholders within the Company.

GreenGas Colorado RNG facility achieves first natural gas production: Construction of the GreenGas Colorado renewable natural gas (“RNG”) project was substantially completed in 2022 with commissioning activities continuing into the first half of 2023. GIP is pleased to announce it has achieved first gas production at the facility, and the Company anticipates continuing to ramp up production to achieve over 360,000 MMBtu in annual run-rate production.

Future Energy Park (“FEP”) advances towards construction in 2023: FEP, North America’s largest carbon negative RNG project, achieved significant project milestones in 2022 on its way to starting construction in 2023. All required consultation periods for key permits have been cleared, the project received final Land Use Approval from the City of Calgary, engineering has advanced, and material agreements have been significantly advanced or signed. The required equity for FEP will be provided under the strategic partnering agreement with Amber Infrastructure Group, subject to customary closing conditions.

Iowa RNG project gears up for construction: GIP is targeting a summer 2023 construction start for its Iowa RNG project. The Company is finalizing the material project agreements, advancing material permits and approvals, and securing non-recourse project debt financing. The required equity is being provided under the strategic partnering agreement, subject to customary closing conditions.

New project portfolio grows by $1 Billion: The market for new bioenergy projects remains competitive with GIP emerging as one of the leading developers of greenfield projects through its creative and flexible deal structures and relationships with industry-leading execution partners. This, combined with GIP’s strategic partnering agreement, has provided the platform to grow and advance the Company’s portfolio of new projects.

GIP expands team to facilitate growth: To ensure GIP continues to execute on its projects to the Company’s high standards of safety and efficiency, GIP has substantially grown each part of its strategic team, which continues to be best in class in creativity and execution.

Jesse Douglas added, “We are proud to have a development pipeline of 15 bio-energy projects that will pave the way towards a better world. Our unwavering dedication to our stakeholders and values drives us to create a bigger impact than any organization that’s solely focused on their bottom line. With this commitment, we’re excited to lead the charge in developing some of the world’s cleanest energy.”


(in thousands of dollars, except per share data)For the Year Ended December 31, 2022
(audited)For the Year Ended December 31, 2021
(audited)IFRS FINANCIAL MEASURESRevenue213,738128,972NON-IFRS MEASURESAdjusted EBITDA18753,550


1 See Non-IFRS Measures below

Revenue: Revenues increased to $213.7 million for fiscal 2022 from $129.0 million in the prior year as a result of higher average pricing of the underlying commodities sold as compared to 2021.

Adjusted EBITDA: Adjusted EBITDA decreased by $2.7 million over the prior year as the Company scaled its team to build out the over $3 Billion in projects in its current project portfolio, in addition to upward pressure on certain costs throughout 2022, and the impact of an inventory short position in the year that was covered in a rising cost environment, impacting margins and 2022 results.

For a more detailed discussion on GIP’s results for the year ended December 31, 2022, please see the Company’s financial statements and management’s discussion & analysis, which are available at: and on the Company’s SEDAR page at

Market-Making: GIP has terminated its agreement with Haywood Securities Inc. to provide Market-Making services in accordance with TSX Venture Exchange policies and guidelines and other applicable legislation originally announced on November 25, 2021.

About Green Impact Partners

Green Impact Partners is focused on creating a sustainable future and inclusive planet by developing clean energy, with a near term focus on RNG projects. GIP acquires, develops, and builds RNG projects, with the intention of building, owning and operating a portfolio of RNG facilities, and participates in a wide range of zero-carbon opportunities during any stage of the project lifecycle – from idea generation through to operations. GIP has a growing portfolio of RNG projects under development, representing over $2 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 net zero carbon 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

Non-IFRS Measures

The Non-IFRS financial measures used within this news release by the Company are EBITDA and Adjusted EBITDA. EBITDA is defined as earnings before interest, taxes, depreciation, and amortization. EBITDA is a non-IFRS measure, calculated by adding back the impacts of income tax, finance costs, depreciation and amortization to net income (loss) for the period. EBITDA does not have a standardized meaning prescribed by IFRS and is not necessarily comparable to similar measures provided by other companies. Management believes EBITDA is an important performance metric that measures normalized recurring cash flows before changes in non-cash working capital. Adjusted EBITDA is defined as EBITDA adjusted for certain non-operating, non-recurring and non-cash items. Adjusted EBITDA is used by management to evaluate the earnings and performance of the Company before consideration of capital, financing and tax structures. Net income (loss) is the most directly comparable IFRS financial measure. Adjusted EBITDA does not have a standardized meaning prescribed by IFRS and is not necessarily comparable to similar measures provided by other issuers. Prior period Adjusted EBITDA has been calculated and presented in accordance with the current period calculation and presentation. Except as otherwise indicated, these financial measures will be calculated and disclosed on a consistent basis from period to period. For more information with respect to such financial measures, see the “Summary of Non-IFRS Measures” section of GIP’s most recent MD&A which is available on SEDAR at

Further Information

Please contact Nikolaus Kiefer, Chief Investment Officer at (236) 476-3445 or or visit

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 release, such words as “would”, “will”, “anticipates”, believes”, “targets”, “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, the ongoing COVID-19 pandemic and related secondary impacts, such as supply chain issues; 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; failure to negotiate and conclude any required commercial agreements; non-performance of agreements in accordance with their terms; 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. In particular, this news release contains forward-looking statements, based upon assumptions which management of the Company believes to be reasonable, pertaining to but not limited to the following: ramp up of production of GreenGas Colorado; construction and closing of FEP as it relates to the Strategic Partnering Agreement; construction schedule and timeline for Iowa RNG; budgets, including future capital, operating or other expenditures and projected costs; the Company’s ability to execute on its business plan.

Readers are encouraged to review and carefully consider the risk factors pertaining to GIP described in the filing statement of GIP dated May 17, 2021, and 2022 year end MD&A which are accessible on GIP’s SEDAR issuer profile at The forward-looking statements contained in this release are made as of the date of this release, and except as may be 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.

To view the source version of this press release, please visit