Strategic Partnership between Exterra Carbon Solutions and Énergir Development to Stimulate Carbon Sequestration in Quebec

MONTREAL, April 15, 2024 /CNW/ - Exterra Solutions Carbone Inc. (Exterra), a pioneering Quebec-based company specializing in the safe and sustainable surface sequestration of carbon, is proud to announce its first strategic collaboration with Énergir Développement Inc. (ÉDI), a specialist in energy distribution and production. This partnership aims to accelerate carbon capture and enhance carbon sequestration efforts in Quebec.

The collaboration between Exterra and ÉDI seeks to identify business opportunities arising from their complementary expertise and to develop joint, innovative decarbonization solutions related to the capture, transportation, and sequestration of CO₂.

"Exterra combats climate change with its technology that allows for CO₂ sequestration using mining residues. This highly secure method will appeal to major industrial players seeking a sustainable decarbonization solution with a high level of social acceptability. Our strategy is also beneficial for producers of biogenic CO₂, such as pulp and paper mills or renewable natural gas producers, who, even without being subject to carbon tax, can monetize their emissions by sequestering them with Exterra. This will enable them to produce high-quality carbon credits that can be sold on the voluntary carbon market." ? Olivier Dufresne, CEO and Co-Founder of Exterra.

"The challenge of the energy transition is immense, and we need a variety of solutions to successfully manage it. This is why we believe it is crucial to collaborate with innovative sectors in Quebec, key players who are implementing these solutions. We are excited to join forces with Exterra to explore the potential of the carbon capture and sequestration sector in Quebec. It not only offers a relevant solution to reduce the carbon footprint of sectors with limited options but also represents a coherent diversification opportunity linked to Énergir's decarbonization strategy." ? Jean-François Jaimes, Executive Director of Renewable Energy & LNG Development at Énergir.

Exterra positions itself at the forefront of industrial decarbonization. By adopting Exterra's solutions, high-emission industries like aluminum smelters and cement factories could significantly reduce their carbon footprint while also achieving substantial savings from potential reductions in their carbon tax. Since February 2024, Exterra's pilot project has had an annual carbon sequestration capacity of about 300 tonnes. The pilot will operate in batches until June, then continuously.

By 2025, Exterra plans to operate a pre-commercial demonstration plant with an annual carbon sequestration capacity of 3,000 tonnes. This upward trajectory will accelerate with the commencement of its commercial project, Hub 1, scheduled for 2026. Once operational, this facility will become the world's largest surface sequestration site, with an annual capacity of up to 500,000 tonnes of CO₂, equivalent to removing 100,000 gasoline vehicles from the road annually.

Exterra Carbon Solutions is a leading carbon sequestration technology company based in Quebec, Canada. The company specializes in accelerated carbon mineralization using mineral residues and offers turnkey solutions to industrial emitters or direct carbon capture enterprises for the safe, permanent, and verifiable storage of their CO₂. For more information, visit exterracarbon.com.

Énergir Développement Inc. (formerly Valener Inc.) is a Quebec-based company operating in the energy distribution and production sector. Énergir Développement owns a 29% stake in Énergir, s.e.c., whose main activities include natural gas distribution in Quebec and natural gas and electricity distribution in Vermont, USA. Énergir Développement also holds direct and indirect stakes in the operation of wind farms located on the private lands of Seigneurie de Beaupré in Quebec and in a renewable natural gas production partnership. Énergir Développement strives to find cleaner energy solutions in an economically, environmentally, and socially responsible manner. Énergir s.e.c. acts as the manager of Énergir Développement. The corporate structure is available on Énergir's website.

SOURCE Exterra Carbon Solutions