The Government of Canada announces funding to accelerate clean energy development in Atlantic Canada

 EverWind Fuels, North America's most advanced hydrogen project receives development
support from the federal government's comprehensive policies to decarbonize, create jobs and
boost economic development on the road to net zero

PORT HAWKESBURY, NS, Nov. 17, 2023 /CNW/ - The Honourable Sean Fraser, Canada's Minister of Housing, Infrastructure and Communities, today announced, on behalf of the Honourable Mary Ng, Minister of Export Promotion, International Trade and Economic Development, federal government support for the green energy hub that EverWind Fuels is developing in Nova Scotia. EverWind and Export Development Canada have reached an agreement in principle on terms for a $125M debt facility to support the project, pending final due diligence. This loan will support clean power generation and clean hydrogen production that will be able to be exported to markets in Germany and around the world, as well as for domestic consumption.

Minister Fraser made the announcement alongside Trent Vichie, CEO of EverWind Fuels, Chief Terry Paul, Membertou First Nation; Chief Cory Julian, Paqtnkek First Nation; Chief Wilbert Marshall, Potlotek First Nation; and Mike Kelloway, Member of Parliament for Cape Breton Canso.

Quotes

"Nova Scotia is positioned to become a leader in the emerging green energy economy ? and that bright future is beginning in places like Cape Breton?Canso. The sustainable job opportunities created by projects such as EverWind will have generational impacts within my riding. With that, our government is proud to be supporting green economic developments in our rural communities."

Mike Kelloway, Member of Parliament for Cape Breton?Canso and Parliamentary Secretary to the Minister of Fisheries, Oceans, and the Canadian Coast Guard

"This investment will help build out the infrastructure that sets the economic foundation of our region for decades to come. Projects like EverWind will help put Atlantic Canada on the global stage as not only an incredible place to invest, but as a leader on clean, renewable energy."

Sean Fraser, Minister of Housing, Infrastructure and Communities

"Sustainability is about creating opportunities that are both environmentally and economically sustainable. This funding will help to launch EverWind's green energy hub, which through international partnerships, its world-class deep-water Terminal in Point Tupper, and incredible wind power, represent an opportunity to create affordable green hydrogen for exports and for domestic decarbonization."

Mary Ng, Minister of Export Promotion, International Trade and Economic Development

"Today's $125 million investment in EverWind Fuels will ensure that Canada is a leading supplier of clean energy and technology to our international partners. It also supports Canada in continuing to make good on our commitments under the Canada-Germany Hydrogen Alliance, announced last year in Stephenville. I congratulate EverWind and all First Nations and local partners involved in this project and look forward to continuing to maintain and increase Canada's competitiveness in the global clean economy."

The Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources

"The green energy hubs of tomorrow are being determined today. The federal government's support recognizes the immense work required to stand up this new industry, and gets closer to a greener world, and an economically prosperous Atlantic Canada. We are proud of our achievements made over these last two years working shoulder to shoulder with our First Nations partners, and all that have shown support."

Trent Vichie, CEO, EverWind Fuels

"Membertou has been proud to partner with EverWind in the creation of the Nova Scotia green fuels hub. The development of this project is setting an example for how partnership and economic reconciliation should be done. We will work to progress the transition to green energy in Nova Scotia and the world. We are pleased to see the Government recognize the accomplishments that we have made on this project including the collaboration with our communities."

Chief Terry Paul, Membertou First Nation

"This project, supported by our communities, and now by the Canadian Government, provides an opportunity to create long-lasting environmentally sustainable prosperity for the region. We look forward to continuing to grow our partnership and develop a clean future for our grandchildren."

Chief Cory Julian, Paqtnkek First Nation & Rose Paul, CEO Bayside Corporate

"In Potlotek, we are proud to be a meaningful partner in the development of EverWind's green hydrogen hub. We are pleased to see recognition from the Canadian government of the achievements to-date toward a project which understands and addresses our values of sustainable stewardship for the land, air, and water."

Chief Wilbert Marshall, Potlotek First Nation

"A project like EverWind's is a great example of true economic reconciliation."

Darryl McDonald, CEO, Potlotek First Nation

Quick Facts

• EverWind is developing one of the most advanced green fuels hubs in North America, with over $180 million of private capital invested to-date
• This project is decarbonizing the planet by replacing two tonnes of CO2 for every tonne of green ammonia EverWind produces, which can be used by producers of food, industrials, or energy
• EverWind's multi-phase project is expected to generate over 3,300 permanent jobs, and thousands of temporary jobs which can be sustained as the green fuels hub grows
• This initiative is driving growth for the Nova Scotian and Canadian economy ? with approximately $1.5 billion to be added to Canada's annual GDP through operations
• This green fuels hub is true economic reconciliation with Membertou, Paqtnkek, and Potlotek as First Nations equity and development partners
• Canada is demonstrating achievement toward the goals set by the Canada?Germany Clean Hydrogen Alliance, facilitating mutual decarbonization, trade, and infrastructure

EverWind Fuels 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 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 Environmental, McInnes Cooper, King & Spalding, McKinsey, Morgan Stanley, CIBC, and Citi.

SOURCE EverWind Fuels Company