Calgary’s Green Impact Partners has finalized the carbon credit pathways under the Alberta Technology Innovation and Emissions Reduction (TIER) program for its flagship project, the Future Energy Park.
To be located in Calgary, the Future Energy Park will be North America’s largest carbon negative biofuels facility spanning both the agriculture and energy sectors by using non-food grade wheat to create ethanol and renewable natural gas.
In addition, as part of ongoing development activities, GIP has also successfully finalized agreements to sequester the biogenic CO2 from the facility.
The project will create approximately 800 jobs over 24 months during construction and 100 direct and indirect jobs during operations. The facility’s estimated annual production will be approximately 4 million gigajoules of renewable natural gas, over 300 million litres of ethanol, and approximately 595,000 tonnes of wet distilled grains.
“Achieving this milestone is a significant accomplishment for GIP as it confirms the anticipated final revenue profile and economics of the project. It’s been a tremendous effort, and I’m extremely proud of our team for bringing these items across the line,” said Jesse Douglas, Chief Executive Officer.
“I’m thrilled the Future Energy Park is now positioned to move forward with debt financing which would typically take four to six months. We’re closer than ever to breaking ground on this first-of-its-kind facility, and I look forward to the positive impact this project will have on the City of Calgary and the Province of Alberta.”
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