March 5, 2021 By Wolverine Energy and Infrastructure
Wolverine Energy and Infrastructure and its wholly owned subsidiary Green Impact Partners (GIP) have completed their initial Hydrogen Front End Engineering Design (FEED) study in Alberta.
The Alberta Project forms part of the clean energy and renewable natural gas (RNG) assets proposed for sale in connection with Wolverine’s previously announced reverse takeover transaction involving Blackheath Resources Inc. Upon completion of the Transaction, GIP can proceed to the next stage of hydrogen development on the Alberta project. Phase one of the hydrogen development of the project is intended to result in 24 tons of production of green, electrolysis-based hydrogen with the facility using only clean, renewable energy for operations.
The dual purpose of the facility is expected to lower operating costs of the Alberta project significantly, creating a profitable full cycle of production. Future development phases of the project are expected to allow for substantial growth as demand and usage increases. It is anticipated that the process of hydrogen production utilized by the project will also result in saleable industrial oxygen.
The study was completed earlier then expected, with stronger financial and environmental results than originally anticipated, adding another important development opportunity to those previously available to GIP following the transaction. GIP intends to continue development of its RNG assets following completion of the transaction. Management believes that RNG and hydrogen will be the leading complimentary fuels to a low carbon future, and a key to the achievement of Net Zero Earth Impact.
Nikolaus Kiefer, chief financial officer, said, “From previous studies, we did not anticipate the profitable rationalization potential to occur this quickly. Our experienced development team continues to show their diligence and creativity in meeting the Net Zero Earth Impact goals while achieving our minimum financial targets.”
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