- Green Impact (GIP) partners receive final land use approval from the City of Calgary for the Future Energy Park
- The project is slated to create 800 jobs over 24 months during construction and 50 jobs during operations
- This represents roughly $1.2 billion in investment in Alberta and the City of Calgary
- Future Energy Park is a proposed net CO2-negative biofuels facility using non-food grade waste wheat to produce renewable natural gas and ethanol
- Green Impact Partners is targeting completion in 2025
- Green Impact (GIP) is up 2.88 per cent, trading at C$6.43 at 1:04 pm EST
Green Impact Partners (GIP) received approval from the municipality of Calgary for the Future Energy Park.
This approval represents a major step for the project.
Within the City of Calgary, Future Energy Park is a proposed net CO2-negative biofuels facility using non-food grade waste wheat to produce renewable natural gas and ethanol.
This project represents roughly $1.2 billion in investment in Alberta and the City of Calgary.
“Working with the Mayor and City Council in achieving this critical path milestone gives us the confidence we will be able to break ground in 2023, subject to the receipt of other major approvals,” said Jesse Douglas, Chief Executive Officer.
“The environmental benefits of this project are matched with significant direct benefits to Calgary and the Province of Alberta through job creation and economic growth in the clean technology sector.”
Other specific wins for this project include creating around 800 jobs over 24 months during construction and 50 jobs during operations.
“[This win] represents a significant investment in our city that integrates the agricultural and energy sectors to produce biofuels locally,” said Mayor Jyoti Gondek.
“I’m pleased to see Green Impact Partners bring this exciting project to Calgary, contributing to our economic diversification and environmental sustainability goals,” added Gondek.
Once operational, the facility is expected to produce approximately 3.5 million MMBtu per year of RNG and over 300 million litres of ethanol annually.
It will also create carbon credits right in Alberta’s backyard.
Some aspects of the project still need to be worked out, but Green Impact Partnerstargetsg completion in 2025.
Once operational, Future Energy Park will provide annual new, direct revenue of over $150 million to rural wheat producers.
Green Impact Partners will use local engineering, construction, and environmental firms for the project.
The facility will be in an industrial area southeast of Calgary and will be constructed and operated on 52 acres of land.
With a carbon intensity score of -20, Future Energy Park is expected to be North America’s largest carbon-negative energy facility.
Green Impact (GIP) is up 2.88 per cent, trading at C$6.43 at 1:04 pm EST.