GREEN IMPACT PARTNERS PROVIDES AN UPDATE ON ITS RNG PROJECT IN IOWA
VANCOUVER, BC, March 28, 2022 /PRNewswire/ – Green Impact Partners (“GIP” or the “Company“) is pleased to announce the signing of definitive agreements for its partnership in a dairy renewable natural gas (“RNG“) project located in Iowa (the “Iowa RNG Project“). The Iowa RNG Project has secured long-term feedstock agreements with two dairies located in close proximity, and is expected to generate approximately 800 MMBtu per day of RNG. GIP is working to advance the final engineering, design and capital budget, as well as securing material permits, approvals, and financing. The Iowa RNG Project is similar in scope to GIP’s RNG project located in Weld County, Colorado (the “GreenGas Colorado Project“).
Later this year GIP anticipates an expansion to the Iowa RNG Project to include two additional sites, which will nearly double the size of the project. The Company expects to provide a further project update in the second quarter of 2022, including final size, capital costs and construction timeline. Construction is anticipated to start in the second half of 2022 and RNG production commencing in late 2023.
“As we move towards a final investment decision of another RNG project later this year, we are on our way to reach our target of Cdn$1.5 billion in projects sanctioned by 2023,” said Jesse Douglas, Chief Executive Officer. “We have ambitious growth plans with sector leading feedstock, technology, partners and projects within the RNG space, delivering a path to significant environmental, social and financial gains. GIP is committed to providing innovative solutions where RNG will play an integral role in near term and future decarbonization.”
The Iowa RNG Project is expected to be similar in size and scale, design and technology to the GreenGas Colorado Project, which continues to be on budget and schedule, with commissioning starting in July 2022 and $19 million to $21 million in annual EBITDA at full operation. The Iowa RNG Project will deliver its RNG into the California Low Carbon Fuel Standard (“LCFS”) and Renewable Identification Number (“RIN”) markets with similar economics.
With robust project partnerships and debt, GIP does not anticipate the need to access the public market for any corporate equity to complete its growing current project pipeline of over $2 billion.
Today, Green Impact Partners launched a bold new visual identity which better reflects GIP’s purpose and inspires action. In approaching this branding initiative, the new visual identity needed to embody the Company’s commitment to equality, diversity, and the circular economy and a continued push to advance the future of decarbonization and energy.
Jesse Douglas added, “As we developed our new identity, it became clear that our aspirational and unique company vision, with an exceptional commitment to a clean and inclusive world, needed to magically shine through. I couldn’t be more pleased with the result – a sophisticated, confident, trustworthy brand identity that we will proudly display on our world leading facilities for years to come.”
In April, Green Impact Partners will also be launching a new website as a central resource for engaging with partners, investors and employees.
2021 Year End Results Release
GIP will be releasing its 2021 year end financial results on April 22, 2022 with quarterly and annual results in line with consensus estimates, continuing the Company’s track record of positive EBITDA and growth.
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, builds, owns and operates RNG projects, 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 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
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”, “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 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; 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.
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.
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SOURCE Green Impact Partners
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