EverWind Praises Federal Government’s Clean Energy Leadership

Budget 2024 builds on Canada’s robust and effective response to the U.S. Inflation Reduction Act

April 16, 2024 18:30 ET| Source: EverWind Fuels

OTTAWA, April 16, 2024 (GLOBE NEWSWIRE) -- EverWind Fuels ("EverWind"), North America’s leading green fuels developer, with green hydrogen hub projects in Atlantic Canada, today praised the federal budget for its ongoing commitment to ensuring Canada maintains an edge in the fiercely competitive global clean energy space.

>> In Other News: Feintool Wins Important Contract in Europe’s Hydrogen Industry

Budget 2024 builds on a series of public policy announcements first introduced in the 2022 Fall Economic Statement in response to the U.S. Inflation Reduction Act.

Key items in today’s budget that will help Canada remain an attractive destination for clean energy investment and talent include:

• A retooled and extended Clean Fuels Fund which will help build Canada’s green energy economy of tomorrow. Funding clean energy projects through this program will help Canada secure the coveted first mover advantage that is being sought by jurisdictions around the world.

• Full program details about the Indigenous Loan Guarantee Program which will ensure economic reconciliation is at the centre of Canada’s climate action leadership. Providing up to $5 billion in loan guarantees will unlock significant opportunities for Indigenous communities and ensure Canada’s emissions reductions agenda benefits from their leadership and expertise.

• Confirmation the federal government will soon introduce legislation to deliver the Clean Hydrogen Investment Tax Credit and the Clean Technology Manufacturing Investment Tax Credit. The federal government’s suite of ITCs are critical public policy tools that will enable Canada to remain a globally competitive jurisdiction when it comes to clean energy.

Quotes

“Today’s budget confirms once again that Canada is putting the fulsome set of public policy tools in place to ensure we will be a leader in the future energy economy. We commend the leadership of Ministers Freeland, Wilkinson, Champagne, Fraser and Canada’s world-class public servants, who are helping EverWind develop an industry that will create good jobs, reduce emissions and bolster economic reconciliation with our Indigenous Partners.”

Trent Vichie,Founder and CEO, EverWind Fuels

“We are proud of the partnership we’ve built with EverWind, Canada’s leading developer of clean energy. We commend the federal government for its Indigenous Loan Guarantee Program that will ensure our communities are at the heart of Canada’s energy transition”

Chief Terry Paul,Membertou First Nation

“We are pleased to see the federal government is creating the programs and supports that will enable Potlotek First Nation to be an equity partner in this transformational project. Our partnership with EverWind shows clearly that economic reconciliation and emissions reductions go hand in hand.”

Chief Wilbert Marshall,Potlotek First Nation

“First Nations have long recognized that sustainability is the driving force behind prosperity. Today’s budget shows yet again that the federal government recognizes the role we play in creating the economy of tomorrow and we stand ready to help Canada win this global race.”

Chief Cory Julian,Paqtnkek First Nation

Recognition of the Mi'kmaw & their Ancestral Territory

EverWind acknowledges the ancestral and unceded territory of the Mi'kmaq people, and we acknowledge them as the past, present, and future caretakers of this land, Mi'kma'ki. Our work shares a core principle practiced by the Mi'kmaq: environmental stewardship. We are committed to working with the Mi'kmaq through consultation, engagement and delivering a comprehensive partnership on all aspects of the project.

About EverWind Fuels

EverWind is North America's leading independent green hydrogen developer. EverWind received the first Environmental Approval in North America for a large-scale green hydrogen project, and is well progressed in design, engineering, and development for the first phase of both its green energy generation projects and the production facility which will convert this energy into green hydrogen and green ammonia. EverWind owns and operates the deepest ice-free berth on the East Coast of North America, with world class access to rail, roads, and pipelines. Our safety-first culture, evidenced through 18 years without a lost time injury, reflects a highly skilled and extensively certified workforce.

EverWind has three First Nations equity partners and is a champion for meaningful engagement with Rightsholders and the advancement of social and economic reconciliation. At a local level, the Company works closely with municipalities and stakeholder organizations.

EverWind is also concurrently developing a world scale green fuels project on the Burin Peninsula in Newfoundland & Labrador. This project will be critical in delivering the scale and competitive wind resource required to support the green energy transition ambitions of some of the largest industrial companies in the world. EverWind is currently preparing its environmental approval application and to date has collected 17 months of environmental data and is executing the largest wind measurement campaign in the Province. EverWind continues to engage with communities and stakeholders on the Burin Peninsula and work closely with the Government of Newfoundland and Labrador to ensures the economic, social and environmental prosperity of the region for generations to come.

EverWind is led by Trent Vichie, a co-founder of Stonepeak Infrastructure Partners, and a former Blackstone Partner. EverWind's development team consists of over 20 members who have previously held senior positions at various infrastructure, private equity, renewable power, engineering, and utility companies. EverWind is also supported by a world-class advisory team including Black & Veatch, ILF, RES, Strum Consulting, McInnes Cooper, King & Spalding, McKinsey, CIBC, and Citi.