EverWind Fuels Applauds Government of Canada's $300 Million Investment in Canada-Germany Hydrogen Alliance

Bilateral hydrogen trade will drive economic growth in Canada, creating good jobs in rural communities while accelerating the clean energy transition 

PORT HAWKESBURY, NS, July 31, 2024 /CNW/ - EverWind Fuels ("EverWind"), North America's most advanced green hydrogen developer, enthusiastically welcomes the announcement of the Canadian Federal Government's investment of up to $300 million to support its contribution to the Canada-Germany Hydrogen Alliance. The Honourable Jonathan Wilkinson, Canada's Minister of Energy and Natural Resources, made the announcement today in Port Hawkesbury, alongside Karina Häuselmeier, Acting Ambassador at the German Embassy in Ottawa, as well as business leaders from Canada's clean hydrogen sector, Indigenous partners and representatives from Germany's H2Global Foundation.

In March 2024 in Hamburg, Minister Wilkinson signed a Memorandum of Understanding alongside Robert Habeck, German Vice-Chancellor and Minister of Economic Affairs and Climate Action, to establish a first-of-its-kind bilateral program to ensure Canadian producers had priority access to the Germany's rapidly growing market for clean hydrogen and ammonia, through a dedicated program that will support commercial transactions between Canadian exporters and German industry. Today's announcement commits Canadian investment in the bilateral program, which is matched by Germany, creating a $600 million program that will facilitate billions worth of export contracts for Atlantic Canadian projects.

The Canada-Germany Bilateral Window is being administered by H2Global Foundation and will conduct coordinated supply and demands side auctions that will connect Canadian green hydrogen exporters with Germany buyers to facilitate the completion of commercially binding contracts for the sale of Canadian green hydrogen.

Binding offtake agreements will enable billions of dollars of investment, creating significant economic benefits for Atlantic Canada including the creation of good jobs, rural economic development, local benefits programs, and new sources of tax revenue for both municipalities and the province. Projects like EverWind's Point Tupper facility will also accelerate the decarbonization of Nova's Scotia's power grid by replacing coal with zero-emission renewables, in line with Nova Scotia's target of eliminating coal-fired generation by 2030. Future phases of EverWind's Atlantic Canadian projects will significantly increase production of green hydrogen and ammonia, allowing greater access for both export and domestic use. This will further reduce greenhouse gas emissions while keeping energy prices affordable.

Quotes:

Trent Vichie,
Founder and CEO, EverWind Fuels

"EverWind is incredibly supportive of today's announcement which will establish Atlantic Canada as a global leader in green hydrogen and enable future growth in an industry that is crucial in the efforts to reduce greenhouse gas emissions. On behalf of EverWind, I would like to thank Minister Wilkinson and his team at NRCan for yet another demonstration of the federal government's commitment to the sector's success. I would also like to thank Vice Chancellor Habeck and the German government for their continued efforts to move the Canada-Germany Hydrogen Alliance forward. Together, we will build a sector that will not only benefit both countries greatly, but help decarbonize the planet.

Chief Terry Paul,
Membertou First Nation

"I was pleased to be in Germany last March when Canada announced its intention to join H2Global, and today's announcement by Minister Wilkinson is welcome news for the continued development of our renewables sector. We are incredibly happy to see that the momentum continues to build that will ensure Indigenous communities are helping advance the world-leading Canada-Germany clean energy partnership."

Chief Wilbert Marshall,
Potlotek First Nation

"It is very good news for us that Canada and Germany continue to advance policies that show economic growth and environmental stewardship go hand in hand. Our communities are excited about the economic opportunities green hydrogen will bring and we stand ready to do our part to ensure we are a global leader in the clean energy economy.

Chief Cory Julian,
Paqtnkek First Nation

"Today's announcement is further proof that now is the time to work extra hard to build up the renewable energy sector to phase out coal once and for all. Greening the grid and creating good jobs for people across our province and within First Nations communities is a win-win opportunity we're glad to be part of."

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, Morgan Stanley, CIBC, and Citi.

SOURCE EverWind Fuels Company

Adam Langer, [phone], [email protected]