GNR Québec Capital Applauds Government Involvement in the Development of Renewable Natural Gas Projects

$213 million announced for the development of renewable natural gas in the Quebec government's Green Economy Plan 2030

MONTREAL, Nov. 16, 2020 /CNW Telbec/ - GNR Québec Capital L.P. ("GNR Québec Capital"), an investment fund dedicated to increasing the conversion of waste into renewable natural gas (RNG) in the province of Quebec, would like to congratulate the government on the unveiling of its new green economy plan, particularly for its commitment to the development of renewable natural gas production and distribution in Quebec.

An ambitious target for 2030

The plan sets a minimum standard of 10% renewable natural gas by 2030. This target is an important signal to the market, particularly investors, as it illustrates the existence of a local market for projects and availability in distribution infrastructures.

A major investment for project development

The $213 million announced will be allocated to a program to support the production of renewable natural gas, its injection or its connection to the natural gas distribution system. Therefore, projects will be able to count on significant financial support in addition to the efforts made by various partners, including GNR Québec Capital, to assist developers in their financing efforts.

These measures will make it possible to green Quebec's gas network and promote economic development in all regions of the province.

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"GNR Québec Capital was created to accelerate the development of GNR projects in Québec. We are delighted to see the government make a financial commitment in the same vein and ensure that we can accelerate the development of Quebec's extraordinary potential in biomethanization of residual materials and agricultural biomethanization," said Gérard Mounier, President and CEO of Gestion GNR Québec Capital Inc.

About GNR Capital Québec.

Resulting from a partnership announced on June 1st between Xebec Adsorption Inc. (TSXV: XBC) (Xebec), a global provider of clean energy solutions, and the Solidarity Fund QFL (the Fund), GNR Québec Capital is an innovative fund offering promoters and partners access to capital and expertise to develop and operate facilities that treat and transform organic waste into renewable natural gas and biofertilizers.

SOURCE GNR Québec Capital

For any media request: Victor Henriquez, Senior Partner, Public Stratégies et conseils, [email protected], 514-377-1102