Reconciliation Energy Transition Inc. Announces Successful Proposal for the East Calgary Region Carbon Sequestration Hub

CALGARY, AB, Oct. 17, 2022 /CNW/ - Reconciliation Energy Transition Inc. ("RETI" or the "Company", an affiliate company of Project Reconciliation "PRI") is pleased to announce it was selected by the Government of Alberta to evaluate a carbon sequestration hub. The hub will be located east of Calgary and will provide an open access carbon sequestration service for the greater Calgary area.

RETI expects to enter into a carbon sequestration evaluation agreement with Alberta Energy that will allow RETI to conduct evaluation and testing to confirm the suitability of the East Calgary Region Carbon Sequestration Hub to permanently sequester carbon dioxide in deep saline aquifers at an early rate of up to 5 MTPA, with expectations for increasing to 10 MTPA in later development phases.

RETI believes that the East Calgary Region Carbon Sequestration Hub will be the foundation for a Southern Alberta industrial center focusing on emerging renewable fuels and sustainable hydrogen development. 

About RETI

RETI's focus is to develop new energy transition projects founded on material Indigenous equity ownership at the operating level. RETI's strong engagement platform and governance structure is deeply aligned with PRI's; created to accelerate Canada's Indigenous generational wealth base where Indigenous people have meaningful oversight and economic participation in Canada's evolving energy transition and decarbonization economy.  RETI's mandate emphasizes Free, Prior and Informed Consent ("FPIC"), with ESG performance as the foundation of its development strategy.

SOURCE Reconciliation Energy Transition Inc.

Jeremy Yee, President, Reconciliation Energy Transition Inc., [phone], [email protected], www.PRI-RETI.ca