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CANADA GROWTH FUND, GIBSON ENERGY AND VARME ENERGY ANNOUNCE STRATEGIC PARTNERSHIP TO ADVANCE CANADIAN WASTE-TO-ENERGY PROJECT
CANADA GROWTH FUND, GIBSON ENERGY AND VARME ENERGY ANNOUNCE STRATEGIC PARTNERSHIP TO ADVANCE CANA...
About this update from Gibson Energy Inc.
[{"type":"text","content":"\n \n \n \n CANADA GROWTH FUND, GIBSON ENERGY AND VARME ENERGY ANNOUNCE STRATEGIC PARTNERSHIP TO ADVANCE CANADIAN WASTE-TO-ENERGY PROJECT\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.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; TEXT-ALIGN: LEFT; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n EDMONTON, AB\n \n \n ,\n \n \n June 11, 2024\n \n \n /CNW/ - Canada Growth Fund Inc. (\"CGF\"), Gibson Energy Inc. (TSX: GEI) (\"Gibson\"), and Varme Energy Inc. (\"Varme\") are pleased to announce a strategic partnership (the \"Partnership\") to accelerate the development of\n \n Canada's\n \n first waste-to-energy facility with carbon capture technology (the \"Project\"). If successful, the Project will be located on Gibson land in the Heartland-area and will have the capability to process 200,000 tonnes per annum of municipal solid waste, diverting residential garbage from landfill. Such waste will be received pursuant to a 15-year contract that has been entered into by Varme and the\n \n City of Edmonton\n \n .\n \n \n This proposed greenfield waste-to-energy facility, which would be constructed by the Partnership and operated by Gibson, would have integrated carbon capture equipment enabling the Project to incinerate municipal solid waste and produce carbon-negative electricity. A front-end engineering and design (\"FEED\") study is underway, and a final investment decision (\"FID\") by the Partnership is planned in early 2025, with commissioning targeted in 2027.\n \n \n The Project supports the advancement of technologies fundamental to achieving a net-zero electricity grid across the country. Integrated waste-to-energy and Carbon Capture and Storage (\"CCS\") has significant potential to be replicated in municipalities across\n \n Canada\n \n and to put\n \n Canada\n \n in a position to export this expertise glob...