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Green Impact Partners Announces First Quarter 2023 Results
Calgary, Alberta--(Newsfile Corp. - May 23, 2023) - Green Impact Partners Inc. (TSXV: GIP) ("GIP"...
About this update from Green Impact Partners Inc
[{"type":"text","content":"Green Impact Partners Announces First Quarter 2023 ResultsCalgary, Alberta--(Newsfile Corp. - May 23, 2023) - Green Impact Partners Inc. (TSXV: GIP) (\"GIP\" or the \"Company\") today reported its results for the quarter ended March 31, 2023 and key achievements.Key Highlights and AchievementsExecuted $545 Million Strategic Partnering Agreement: As previously announced, during the first quarter of 2023, GIP selected Amber Infrastructure Group as a strategic partner to advance the Company's current and future projects. In February 2023, the Company closed the first part of this transaction with the sale of a 50% interest in its GreenGas Colorado renewable natural gas (\"RNG\") project (\"GreenGas\") for total proceeds of $59 million. This partnership provides greater financing certainty to continue advancing GIP's pipeline of projects to execution and demonstrates the immense value still to be realized by the Company's shareholders.GreenGas Colorado RNG facility achieves first natural gas production: GreenGas started producing first gas during the first quarter of 2023 and the Company is completing final commissioning activities. Commercial operations at full plant capacity are expected by mid-year 2023.Finalizing agreements and contracts for Iowa RNG: GIP has advanced the permits, approvals, and stakeholder consultation necessary to begin construction of the project. The Company is in the process of finalizing its EPC agreement, final capital cost estimates, and remaining definitive agreements.Future Energy Park (\"FEP\") advances towards construction in 2023: FEP, North America's largest carbon negative RNG project, continues to advance to begin construction in 2023. During the first quarter of 2023, the project received its final Land Use Approval from the City of Calgary and, subsequent to quarter end, FEP received its Water Act Approval from Alberta Environment and Protected Areas. Remaining permits and approvals are anticipated in the coming months. With engineering significantly advanced, the Company is focused on finalizing commercial contracts and closing debt financing, which is anticipated this fall. \"With the vast majority of development work now in the final stages for the Future Energy Park, we are preparing ourselves for the start of construction of this exciting project which connects Alberta's energy and agricul...