Business
Green Impact Partners Progresses on Significant Milestones, Including Previously Announced Accretive Equity Process, GreenGas Colorado Commissioning, RNG Portfolio Advancements and Third Quarter 2022 Results
Calgary, Alberta--(Newsfile Corp. - November 24, 2022) - Green Impact Partners (TSXV: GIP) ("G...
About this update from Green Impact Partners Inc
[{"type":"text","content":"Green Impact Partners Progresses on Significant Milestones, Including Previously Announced Accretive Equity Process, GreenGas Colorado Commissioning, RNG Portfolio Advancements and Third Quarter 2022 ResultsCalgary, Alberta--(Newsfile Corp. - November 24, 2022) - Green Impact Partners (TSXV: GIP) (\"GIP\" or the \"Company\") is pleased to provide a corporate update on its previously announced accretive equity process, near-term renewable natural gas (\"RNG\") development projects, expansion of its RNG development portfolio, key leadership addition, and a summary of its third quarter 2022 results.\"2023 will be another exciting year for GIP with significant progress made on our expectation of over $500 million in accretive project financing. Finalizing this will allow us to continue our path to spend $1 billion per year in capital expenditures over the next five years,\" said Jesse Douglas, Chief Executive Officer. \"Our best-in-class team has achieved key milestones in 2022, including adding over $1 billion of controlled (feedstock) projects into our $3 billion project pipeline, and substantially completing the construction on our two RNG facilities in Colorado, on time and on budget.\" Accretive Equity Process Update As previously disclosed, GIP has engaged J.P. Morgan and RBC Capital Markets as lead financial advisors to help accelerate the completion of the Company's near-term RNG portfolio. GIP is currently evaluating several proposals. To the extent GIP is to accept and finalize one or more of the accretive proposals, closing is targeted in late 2022 to early 2023. Jesse Douglas added, \"The major transactions recently announced in the clean fuels space demonstrates the ongoing desire for strategic parties and private capital to establish a strong foundation in the sector. GIP continues to progress its $3 billion project portfolio, and we are excited to finalize our negotiations in a strategic partnership transaction, allowing for the expedited development of our current and future development projects in an accretive fashion.\" GreenGas Colorado Commissioning Underway; Co-Generation Capacity AddedCommissioning activities at the Company's RNG project located in Weld County, Colorado (\"GreenGas Colorado\") are proceeding well. GIP has included the addition of onsite co-generation capacity to further enhance the environmenta...