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Vancouver, Canada, July 21, 2021. Green Impact Partners Inc. (“GIP” or the “Company”) is pleased to announce the commencement of construction of the first project in its development pipeline. The Company has closed on the Operating Agreement for GreenGas Colorado, LLC (“GreenGas”), which holds the rights to a renewable natural gas (“RNG”) project located in Weld County, Colorado (the “Project”). The Project has a total construction cost of approximately CAD $76 million. It is anticipated to achieve commercial operations in the second half of 2022 with forecasted annual run-rate EBITDA of CAD$20 million.
The Project, through an anerobic digestion and gasification process, converts organic waste from two dairy farms into RNG, which will be directly connected into existing gas pipeline infrastructure. The Project is expected to generate over 800 MMBtu per day of RNG. GIP intends to sell its credits into the California Low Carbon Fuel Standard (“LCFS”) and Renewable Identification Number (“RIN”) markets through a long-term offtake agreement with a creditworthy counterparty. With an anticipated carbon intensity score of approximately negative 200, the Project optimizes value received under the LCFS and RIN markets and is fully aligned with GIP’s net zero impact strategy.
“With increasing global need to transition to environmentally friendly alternatives to gas consumption, executing on our RNG projects is a key focus for us” says Jesse Douglas, CEO. “This is one of North America’s strongest negative carbon impact projects and we’re excited to build, own and operate it for the long term.”
About Green Impact Partners
GIP is a publicly traded TSXV 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.
For further information, please contact Kathy Bolton, Chief Financial Officer at (236) 476-3445 or email@example.com 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.