Business
Green Impact Partners Reports Second Quarter 2023 Results and Key Project Highlights
Calgary, Alberta--(Newsfile Corp. - August 25, 2023) - Green Impact Partners (TSXV: GIP) ("G...
About this update from Green Impact Partners Inc
[{"type":"text","content":"Green Impact Partners Reports Second Quarter 2023 Results and Key Project HighlightsCalgary, Alberta--(Newsfile Corp. - August 25, 2023) - Green Impact Partners (TSXV: GIP) (\"GIP\" or the \"Company\") is pleased to provide an update on its renewable natural gas (\"RNG\") projects and a summary of its second quarter 2023 results.\"We're excited about our efforts to transform waste into energy which is driving remarkable strides toward a more sustainable future and a significant positive effect on the environment,\" said Jesse Douglas, Chief Executive Officer. \"I'm pleased with the headway we're making on our flagship project - the Future Energy Park. We have assembled an exceptional team of architects, engineers, planners, environmental specialists, and landscape architects to build a landmark facility showcasing the technological ingenuity involved in the production of biofuels in the Province of Alberta.\"Second Quarter HighlightsCommissioning Activities Approach Completion at GreenGas Colorado RNG Facility (\"GreenGas\"): Commissioning activities continue at GreenGas Colorado with commercial operations at full plant capacity anticipated in the coming weeks. While the commissioning process has taken longer than anticipated, design and component system testing results and early gas production are favorable with the facility expected to produce gas at or above the expected run-rate production of 360,000 MMBtu per year. Close of $10 Million Private Placement: In June 2023, GIP closed a private placement of 1,000,000 common shares in the capital of the Company at a price of $10.00 per share for gross proceeds of $10.0 million. The net proceeds of the private placement are earmarked for continued project expenditures on Future Energy Park to allow GIP to commence earthwork activities in the coming weeks, and for general and administrative purposes and working capital requirements until financial close with Amber Infrastructure Group (\"Amber Infrastructure\") occurs, anticipated in late 2023.Future Energy Park Achieves Key Regulatory Milestone: In July 2023, GIP received approval from the Alberta Utilities Commission (\"AUC\") to construct and operate a 30-MW natural gas-fired cogeneration facility for the Future Energy Park. The cogeneration plant will provide high efficiency steam and electricity to the biofuels facility as...