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Green Impact Partners Closes Investment Tax Credit Sale for GreenGas Colorado LLC for Gross Proceeds of $28.9 Million
Calgary, Alberta--(Newsfile Corp. - June 27, 2024) - Green Impact Partners Inc. (TSXV: GIP) ("GIP...
About this update from Green Impact Partners Inc
[{"type":"text","content":"Green Impact Partners Closes Investment Tax Credit Sale for GreenGas Colorado LLC for Gross Proceeds of $28.9 MillionCalgary, Alberta--(Newsfile Corp. - June 27, 2024) - Green Impact Partners Inc. (TSXV: GIP) (\"GIP\" or the \"Company\") is pleased to announce the Company has closed the Purchase and Sale Agreement (\"PSA\") for the Investment Tax Credits (\"ITCs\") for GreenGas Colorado LLC (the \"Colorado JV\") for total sales proceeds of $28.9 million (US$21.1 million). GIP has received $17.4 million (US$12.7 million) in net cash proceeds, following the replenishment of the debt service reserve account for the Colorado JV. With completion of this transaction, GIP's remaining net capital investment for its 50% interest in the Colorado JV is $6.7 million (US$4.9 million).\"These proceeds enable us to advance our flagship project, the Future Energy Park, towards financial close, continue investing in our development portfolio, and provide working capital funding for the Colorado JV as we progress the certification process with the California Air Resource Board,\" said Jesse Douglas, Chief Executive Officer.About Green Impact PartnersGreen Impact Partners is forging a path towards a sustainable future by turning waste into clean, renewable energy. With a focus on renewable natural gas (RNG) and clean bio-energy projects, our mission is to acquire, develop, construct, and operate facilities that not only produce energy but also play an important role in waste reduction and lowering emissions. Our comprehensive approach spans the entire project life cycle, from idea generation through construction to ongoing operations. In addition to our RNG and clean bio-energy projects, GIP maintains a current portfolio of water and solids treatment and recycling facilities in Canada, alongside a solids recycling business in the United States.Traded on the TSX Venture Exchange under the symbol GIP, Green Impact Partners invites you to join us in our journey to create a more sustainable future. For more information about GIP, please visit www.greenipi.com. Investor & Analyst Inquiries:Nikolaus KieferChief Investment Officer(236) [email protected] StatementsThis news release contains forward-looking statements and/or forward-looking information (collectively, \"forward-looking statements\") within the meaning of applicabl...