NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Vancouver, Canada, June 23, 2021. Green Impact Partners Inc. (“GIP” or the “Company”) is pleased to announce a partnership with Carbon Clean Energy Inc. (“CCE”) and PCL Constructors Inc. (“PCL”) to develop a large-scale bio-fuel facility located in Calgary, Alberta (the “Project”). The Project, once operational, is expected to be carbon negative and will produce annually over 300 million litres of ethanol, up to 2.5 million Btu of renewable natural gas and 2.3 million tonnes of carbon offset credits. A final investment decision to proceed to construction is expected later this year or early 2022.
The Project has an anticipated capital cost of $475 million and once operational, will generate approximately $140 million in annual EBITDA. GIP is closing on a substantive development investment in the project and anticipates holding a 50% interest. ATB Capital Markets is the financial advisor for the Project.
“This is an incredible opportunity to advance a sizable, and well-developed clean energy project that fits with GIP’s overall purpose and strategy” says Jesse Douglas, CEO. “We look forward to advancing the project with our partners. This Project, once built, will be a significant contribution to the global need to reduce carbon emissions.”
“We are proud to partner with GIP and CCE to bring our experience to bear on a project that will help deliver a cleaner, more sustainable solution to help meet Alberta’s energy needs,” says Roger Keglowitsch, COO Heavy Industrial, PCL Construction. “PCL has long been committed to collaborating locally to improve the places where we live and work.”
“CCE is excited to partner with GIP and PCL to execute on our vision of constructing a significant low carbon intensity renewable energy project in Southern Alberta”, says Bruno Rizzuto, Director. “The combined expertise of GIP and PCL will ensure the overall success of the project going forward. We would also like to thank Emissions Reduction Alberta for recognizing the importance of this project to the province.”
About Green Impact Partners
GIP is a TSXV publicly-traded clean technology and transition energy company. GIP is focused on leading the transition to a green and sustainable economy through clean energy and water distribution. GIP seeks to be impactful partners in a green, more sustainable future by optimizing late-stage technology to repurpose by-products into clean energy and other value-added substances.
About PCL Construction
PCL is a group of independent construction companies that carries out work across Canada, the United States, the Caribbean and Australia. These diverse operations in the civil infrastructure, heavy industrial and buildings markets are supported by a strategic presence in 31 major centers. Together, these companies have an annual construction volume of $9 billion CAD, making PCL the largest contracting organization in Canada and one of the largest in North America.
For further information, please contact Kathy Bolton, Chief Financial Officer at (403) 801-5300 or firstname.lastname@example.org or visit www.greenipi.com.
This news release contains forward-looking statements and/or forward-looking information (collectively, “forwardlooking 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 Green Impact Partners Inc. (“GIP“), or their management, are intended to identify such forward-looking statements. Such forwardlooking 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; satisfaction of the conditions to the Transaction; many of which are beyond the control of GIP. These forward-looking statements reflect material factors, expectations and assumptions, including the terms of the Amalgamation and Arrangement Agreement. 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 filing statement of GIP dated May 17, 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 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. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold in the United States except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws.
Readers are cautioned that, except as disclosed in the filing statement of GIP dated May 17, 2021, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon.