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Green Impact Partners (TSXV: GIP) has finalized carbon credit pathways under Alberta's TIER program for its Future Energy Park project in Calgary. The company has also secured agreements to sequester biogenic CO2 from the facility. This milestone confirms the project's anticipated revenue profile and economics, positioning it for debt financing.
The Future Energy Park will be North America's largest carbon-negative biofuels facility, using non-food grade wheat to produce ethanol and renewable natural gas (RNG). Key features include:
- Creation of 800 construction jobs and 100 operational jobs
- Annual production of 4 million gigajoules of RNG and 300 million liters of ethanol
- Regulatory approvals from Alberta's Environment Ministry, Utilities Commission, and City of Calgary
Green Impact Partners provides a positive update on its renewable natural gas (RNG) projects, revealing that the GreenGas Colorado Project is on track for commissioning mid-summer 2022 and will exceed 360,000 MMBtu per annum. The Future Energy Park in Calgary is advancing with a $1 billion investment, expecting 3.5 million MMBtu of RNG, 300 million litres of ethanol, and saleable carbon credits. The company reported Q1 2022 revenue of $44.8 million, up from $27.8 million the previous year, attributed to favorable market conditions and an acquisition, while Adjusted EBITDA fell due to rising input costs.
Green Impact Partners reported significant growth in its fiscal 2021 results, with revenues increasing to $129 million from $95.8 million in 2020. Adjusted EBITDA rose to $3.55 million, driven by improved gross margins and expansion in the renewable natural gas sector. Key projects include the fully funded Colorado RNG project, the development of North America's largest carbon negative RNG project, Future Energy Park, and additional RNG initiatives in Iowa and Southern Alberta. The company maintains a robust pipeline of over $2 billion in clean energy initiatives.
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