/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR
FOR DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, BC, July 21, 2021 /CNW/ - Green Impact Partners Inc.
("GIP" or the "Company") is pleased to announce the
commencement of construction of the first project in its
development pipeline. The Company has closed on the Operating
Agreement for GreenGas Colorado, LLC ("GreenGas"), which
holds the rights to a renewable natural gas ("RNG") project
located in Weld County, Colorado
(the "Project"). The Project has a total construction cost
of approximately CAD $76 million. It
is anticipated to achieve commercial operations in the second half
of 2022 with forecasted annual run-rate EBITDA of CAD$20 million.
The Project, through an anerobic digestion and gasification
process, converts organic waste from two dairy farms into RNG,
which will be directly connected into existing gas pipeline
infrastructure. The Project is expected to generate over 800 MMBtu
per annum of RNG. GIP intends to sell its credits into the
California Low Carbon Fuel Standard ("LCFS") and Renewable
Identification Number ("RIN") markets through a long-term
offtake agreement with a creditworthy counterparty. With an
anticipated carbon intensity score of approximately negative 200,
the Project optimizes value received under the LCFS and RIN markets
and is fully aligned with GIP's net zero impact strategy.
"With increasing global need to transition to environmentally
friendly alternatives to gas consumption, executing on our RNG
projects is a key focus for us" says Jesse
Douglas, CEO. "This is one of North America's strongest negative carbon
impact projects and we're excited to build, own and operate it for
the long term."
About Green Impact Partners
GIP is a publicly traded TSXV clean technology and transition
energy company. GIP is focused on leading the transition to a green
and sustainable economy through clean energy and water
distribution. GIP seeks to be impactful partners in a green, more
sustainable future by optimizing late-stage technology to repurpose
by-products into clean energy and other value-added
substances.
Cautionary Statements
This news release contains forward-looking statements and/or
forward-looking information (collectively, "forward-looking
statements") within the meaning of applicable securities
laws. When used in this release, such words as "would",
"will", "anticipates", believes", "explores" and similar
expressions, as they relate to Green Impact Partners Inc.
("GIP"), or their management, are intended to identify such
forward-looking statements. Such forward-looking statements
reflect the current views of GIP with respect to future events, and
are subject to certain risks, uncertainties and assumptions.
Many factors could cause GIP's actual results, performance or
achievements to be materially different from any expected future
results, performance or achievement that may be expressed or
implied by such forward-looking statements. These forward-looking
statements are subject to numerous risks and uncertainties,
including but not limited to: the impact of general economic
conditions in Canada and
the United States, including the
ongoing COVID-19 pandemic; industry conditions including changes in
laws and regulations and/or adoption of new environmental laws and
regulations and changes in how they are interpreted and enforced,
in Canada and the United States; volatility of prices for
energy commodities; change in demand for clean energy to be offered
by GIP; competition; lack of availability of qualified personnel;
obtaining required approvals of regulatory authorities, in
Canada and the United States; ability to access
sufficient capital from internal and external sources; satisfaction
of the conditions to the Transaction; many of which are beyond the
control of GIP. These forward-looking statements reflect material
factors, expectations and assumptions, including the terms of the
Amalgamation and Arrangement Agreement. Forward-looking
statements included in this news release should not be read as
guarantees of future performance or results. Such statements
involve known and unknown risks, uncertainties and other factors
that may cause actual results, performance or achievements to be
materially different from those implied by such forward-looking
statements.
Readers are encouraged to review and carefully consider the
risk factors pertaining to GIP described in the filing statement of
GIP dated May 17, 2021, which is
accessible on GIP's SEDAR issuer profile at www.sedar.com. The
forward-looking statements contained in this release are made as of
the date of this release, and except as may be expressly be
required by law, GIP disclaims any intent, obligation or
undertaking to publicly release any updates or revisions to any
forward-looking statements contained herein whether as a result of
new information, future events or results or otherwise, other than
as required by applicable securities laws.
Management of GIP has included the above summary of
assumptions and risks related to forward-looking statements
provided in this release in order to provide shareholders with a
more complete perspective on GIP's current and future operations
and such information may not be appropriate for other purposes.
GIP's actual results, performance or achievement could differ
materially from those expressed in, or implied by, these
forward-looking statements and, accordingly, no assurance can be
given that any of the events anticipated by the forward-looking
statements will transpire or occur, or if any of them do, what
benefits GIP will derive therefrom.
This news release shall not constitute an offer to sell or
the solicitation of an offer to buy the securities in any
jurisdiction. The securities have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act") or any state securities
laws and may not be offered or sold in the United States except in certain
transactions exempt from the registration requirements of the U.S.
Securities Act and applicable state securities laws.
Readers are cautioned that, except as disclosed in the filing
statement of GIP dated May 17, 2021,
any information released or received with respect to the
Transaction may not be accurate or complete and should not be
relied upon.
SOURCE Green Impact Partners