Business
Green Impact Partners Announces Material Expansion of North American RNG Projects
Calgary, Alberta--(Newsfile Corp. - July 12, 2022) - Green Impact Partners (TSXV: GIP) ("GIP" ...
About this update from Green Impact Partners Inc
[{"type":"text","content":"Green Impact Partners Announces Material Expansion of North American RNG ProjectsCalgary, Alberta--(Newsfile Corp. - July 12, 2022) - Green Impact Partners (TSXV: GIP) (\"GIP\" or the \"Company\") is pleased to provide an update on three of its advanced renewable natural gas (\"RNG\") projects. \"With the upcoming commissioning of our GreenGas Colorado facility, the expansion of our Iowa and Future Energy Park projects, and over $2 billion of projects in our growing pipeline, GIP is a leader in North American clean energy and scalable RNG,\" said Jesse Douglas, Chief Executive Officer. \"Our best-in-class team has ensured that GIP is on track to achieve key milestones in 2022 and beyond to advance our high-quality growth portfolio. Our projects continue to be on time and on budget adding accretive growth to the Company.\"RNG Project UpdatesIowa RNG Feedstock ExpansionGreen Impact Partners has secured an additional dairy for the Iowa RNG Project, bringing the total number of dairies to three. Construction is anticipated to start in late 2022, with RNG production commencing in late 2023 or early 2024. Capital costs are expected to be approximately $100 million, and the Company anticipates up to 60% in debt financing. With the addition of the third dairy, Iowa RNG is expected to generate approximately 350,000 MMBtu per year of RNG and a projected run-rate EBITDA of approximately $20 million.Future Energy ParkLocated within the City of Calgary, Future Energy Park is a proposed net CO2 negative biofuels facility using non-food grade wheat to produce RNG and ethanol. Future Energy Park represents an over $1.2 billion capital investment with over $300 million in annual EBITDA. The Company anticipates up to 75% in project level debt financing. Currently in the later stages of permitting, GIP is also in the process of finalizing all material agreements, including engineering, procurement, and construction (\"EPC\"), offtake and supply contracts. Recent updates to project design now include over 400,000 tonnes of annual captured CO2 and high-quality protein distillers grain as a revenue stream. Subject to receipt of regulatory approvals and the close of financing, construction is anticipated to start in early 2023. Once operational, the facility is expected to produce over 3.5 million MMBtu per year of RNG, over 300 million litres of etha...