Business
Minnova Corp. and Minnova Renewable Energy Announce Restructuring Strategy and Future Green Hydrogen Production Site Selection
Toronto, Ontario--(Newsfile Corp. - May 17, 2022) - Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF...
About this update from Minnova Corp.
[{"type":"text","content":"Minnova Corp. and Minnova Renewable Energy Announce Restructuring Strategy and Future Green Hydrogen Production Site SelectionToronto, Ontario--(Newsfile Corp. - May 17, 2022) - Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF) (\"Minnova\" or the \"Company\"), is an evolving resource development company with an exciting green hydrogen and cleantech innovation strategy to compliment our development-stage PL Gold Mine restart plan.A New Green Energy Transition VisionThe adoption of Net Zero 2050 CO2 reduction commitments by Canada and many other countries has signaled a modern era green energy transition. As a result, green or renewable energy alternatives, to replace / reduce fossil fuel energy, are growing rapidly. In addition to CO2 reduction initiatives, recent geopolitical events have highlighted the need for energy security and in particular green energy security. These events are forecast to result in a fundamental change in the future production and consumption of energy. Our strategy is to position Minnova as a green energy industry leader through development of biomass gasification related technologies. The first step in our green energy strategy was the announcement of the intent to acquire a proprietary biomass gasification technology (see Press Release 2021-12-13_NR.pdf (minnovacorp.ca)). Since then, Minnova has rapidly advanced our strategy for Minnova Renewable Energy based on discussions with industry (producers, equipment suppliers and consumers), policy makers and investors. The next significant milestone is site selection for future commercial development. We are pleased to announce that the first site for a biomass gasification demonstration unit will be Swan River, Manitoba. Following detailed analysis and discussions we have arranged for initial feedstock supply and a well-located site to develop a demonstration unit. Key selection criteria included, abundant supply of sustainable forest and agricultural biomass residues, existing infrastructure that will facilitate rapid development and future expansion, an existing natural gas pipeline for possible injection and finally a supportive local community. On that point we have received a formal support letter and endorsement from the Swan River Council who commented \"we are confident that the abundant forest and agricultural biomass supply and other development consi...