Business
Green Impact Partners Announces $545 Million Partnering Agreement
Calgary, Alberta--(Newsfile Corp. - February 21, 2023) - Green Impact Partners Inc. (TSXV: GIP) (...
About this update from Green Impact Partners Inc
[{"type":"text","content":"Green Impact Partners Announces $545 Million Partnering AgreementCalgary, Alberta--(Newsfile Corp. - February 21, 2023) - Green Impact Partners Inc. (TSXV: GIP) (\"GIP\" or the \"Company\") is pleased to announce it has selected Amber Infrastructure Group (\"Amber Infrastructure\") as a strategic partner on its GreenGas Colorado, Iowa RNG and Future Energy Park projects, representing up to $545 million in total investment for a 50% project-level equity interest in each facility. Based in London, with offices in North America, Europe and Australia, Amber Infrastructure is an infrastructure investor with over $8 billion in assets under management.All of the documentation for the various agreements with Amber Infrastructure is being held in escrow and will be released and come into effect upon Amber Infrastructure advancing the purchase proceeds under the unit purchase agreement in respect of the GreenGas transaction described below, which is anticipated to occur on February 23, 2023.\"We are very excited to announce this transformative transaction, moving forward with a leading infrastructure investment partner, that highlights the immense value of our net zero projects and development portfolio,\" said Jesse Douglas, Chief Executive Officer. \"Securing this project-level funding will enable us to move forward with our development portfolio in an accretive way to our shareholders. This investment will help drive forward the construction of our flagship project - Future Energy Park - and Iowa RNG in 2023, while allowing GIP to continue to progress as many as five additional projects in its $3 billion project pipeline, that could produce up to 10 million MMBtu of carbon negative RNG over the next three to five years.\" \"We are excited to partner with GIP to deliver projects that align with progressive government policy in the US and Canada,\" said Tom O'Shaughnessy of Amber Infrastructure. \"We share a common purpose, our values are aligned, and we look forward to making an impact together through the deployment of low carbon projects at scale.\"50% sale of Future Energy Park and Iowa RNG for $485 millionGreen Impact Partners Inc. and certain affiliates (\"GIP\") and Amber Infrastructure LLC and certain affiliates (\"Amber\") have executed a strategic partnering agreement whereby Amber has agreed to purchase 50% of the equity in Fu...