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Entropy Inc. Announces $300 Million Investment Agreement with Brookfield Renewable
Entropy Inc. Announces $300 Million Investment Agreement with Brookfield Renewable ...
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[{"type":"text","content":"\n \n \n \n Entropy Inc. Announces $300 Million Investment Agreement with Brookfield Renewable\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n (TSX: AAV)\n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n March 28, 2022\n \n \n /CNW/ - Entropy Inc. (\"Entropy\" or the \"Corporation\"), a subsidiary of Advantage Energy Ltd. (\"Advantage\"), is pleased to announce a strategic\n \n $300 million\n \n investment agreement with Brookfield Renewable to scale up deployment of Entropy's carbon capture and storage (\"CCS\") technology globally.\n \n \n \n \n Highlights of the Strategic Investment Agreement\n \n \n \n \n The investment provides Entropy with a combination of strategic advantages:\n \n \n \n Capital commitment of\n \n $300 million\n \n to fund Entropy's near-term projects, including its Glacier Phase 1 and 2 CCS projects\n \n \n Potential for significant follow-on capital on mutually agreeable terms\n \n \n Access to a large-scale international portfolio; increasing Entropy's already considerable pipeline of potential CCS projects\n \n \n Enhanced capacity for global commercial, marketing and policy relationships\n \n \n Underscores mutual confidence in Entropy's sophisticated CCS technology and global development strategy\n \n \n \n \"We are excited to be receiving substantial backing from Brookfield Renewable, who share our strategic approach to carbon abatement,\" said\n \n Michael Belenkie\n \n , President and CEO of Advantage.  \"In order to have a meaningful impact on a global scale, we must invest in the highest efficiency projects with advanced technology, at scale.  Entropy has a strong pipeline of these projects under development and owns the full suite of next-generation CCS technology.  Combining Brookfield's financial power and international presence is a key step to achieving global scale.  With the growing need to balance carbon abatement with world-wide energy security, CCS needs to play a leading role and Entropy intends to be an important part of accelerati...