Vancouver, Canada, August 24, 2021.  


  • Go Public transaction closed on May 27, 2021, including the $100 million private placement financing 
  • Reported Revenue and Adjusted EBITDA of $27.1 million and $0.2 million, respectively, in the second quarter. Revenue increased by $15.5 million, with Adjusted EBITDA down by $0.4 million, respectively, over the same period in the prior year related to downtime on facilities for planned improvements, public listing expenses and COVID-related costs to restart operations 
  • Commenced construction on the Company’s first renewable natural gas (“RNG”) project, with expected completion in the second half of 2022. The project has a total construction cost of $76 million, a forecasted run-rate EBITDA of $20 million and an equity payback of approximately three years 
  • Advanced and grew our portfolio of development projects, including one of North America’s largest RNG facilities, which is a combination bio-fuel facility located in Calgary, Alberta 

The Company’s existing water and solids treatment and recycling facilities intake, clean and process water and other waste products and are strategically positioned geographically to service municipalities, governments, utilities, infrastructure, industrial, energy and mining industries in North America. As a result of the global pandemic, activity levels in certain of these industries have been depressed which impacted our results for the second quarter, however, they are starting to rebound. 

Due to the recovering activity levels, the Company initiated capital improvements on one its best performing facilities to expand capacity and extend its useful life, which also affected the results of operations for the second quarter of 2021. The total capital improvements are estimated to cost $2.2 million, with a payback period of less than three years. The facility is expected to be back online and fully operational by the fourth quarter.  

“With our go-public transaction complete, the strongest team and board in the sector and a great project and asset portfolio, we have significant momentum to pursue our strategic purpose,” said Jesse Douglas, CEO. “While the continued impact of the global pandemic on the economy affected our quarterly results, we took an opportunistic approach, upgrading and improving our facilities, to improve the profitability going forward. With industry and society activity picking up in the last couple of months, and our facilities expected to be all back online by early September, we’re anticipating a quick return to regular operations. We also made significant advancements on the execution of our project pipeline with our first RNG project starting construction. With the increasing global need for renewable energy, we’re excited about the potential of this project, and others in our portfolio, to have a significant impact to both future revenue and cash flow and the environment.”  


(in thousands of dollars, except per share data) June 30, 2021   Three Months (unaudited) June 30, 2020  Three Months (unaudited) 
  IFRS FINANCIAL MEASURES  Revenue       27,066   11,542 
Loss from operations (893) (462) 
Net Loss (2,824) (777) 
(Loss) earnings per share (0.20) (0.10) 
NON-IFRS MEASURES  Adjusted EBITDA1   198   562 
  (in thousands of dollars, except per share data)   June 30, 2021  Six Months  (unaudited) June 30, 2020  Six Months  (unaudited) 
  IFRS FINANCIAL MEASURES  Revenue         54,854     48,186 
Loss from operations (657) (1,106) 
Net loss (3,005) (1,762) 
(Loss) earnings per share (0.25) (0.21) 
NON-IFRS MEASURES  Adjusted EBITDA1   1,504   853 

1 EBITDA is defined as earnings before interest, taxes, depreciation, and amortization. EBITDA is a nonIFRS 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 nonoperating, 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 that may vary from company to company. Prior period Adjusted EBITDA has been calculated and presented in accordance with the current period calculation and presentation. 

Three Months Ended June 30, 2021 Compared to Three Months Ended June 30, 2020 

Revenue for the second quarter increased over the same period in the prior year as revenue for the three months ended June 30, 2020 was disproportionately impacted by the downturn in industry and society activity. Notwithstanding increased revenue, adjusted EBITDA is down comparatively as a result of the downtime for one of the Company’s facilities for capital improvements and increased salaries, wages, and SG&A due to additional set up costs related to GIP’s go public transaction and financing. Net Loss also decreased comparatively due to non-cash listing expenses, offset partially by a gain on debt forgiveness for one of the Company’s facilities.  

Six Months Ended June 30, 2021 Compared to Six Months Ended June 30, 2020 

Results for the six months ended June 30, 2021 compared to the same period prior year are consistent with the second quarter with the exception of January and February 2020, which were not impacted by the downturn in industry and society activity. 

About Green Impact Partners  

Green Impact Partners Inc. (“GIP”) is a publicly traded TSXV clean 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.  

Further Information 

For further information, please contact Kathy Bolton, Chief Financial Officer at (236) 476-3445 or or visit  

Cautionary Statements 

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 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 COVID19 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 forwardlooking 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 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.