CALGARY, ALBERTA – October 14, 2021 – Kanata Clean Power & Climate Technologies Corp (“KANATA”) is pleased to announce that participating Treaty Six First Nations, KANATA and Vault 44.01 Ltd. (“Vault”) have submitted a joint response to the expression of interest (“REOI”) solicited by the Government of Alberta for industry partners to develop, build, own and manage a carbon sequestration hub to be situated on the traditional territory of Treaty Six First Nations (the “KANATA CarbonHub”).
KANATA anticipates that the KANATA CarbonHub will be the only Indigenous-led and owned response to the Government of Alberta’s REOI for carbon sequestration and represents an important step for both Alberta’s emissions reduction and economic reconciliation.
KANATA CarbonHub proponents are:
- Participating Treaty Six First Nations, conditionally represented by Tribal Chiefs Ventures Inc. (“TCVI”), and individual Treaty Six First Nations, including, Frog Lake First Nations #121 & #122, and Kehewin Cree Nation;
- KANATA (development partner); and
- Vault (technical partner).
The proponents anticipate that other TCVI member nations may join the KANATA CarbonHub as internal approval processes within member nations are completed, and TCVI anticipates opening its members’ majority-ownership stake to other Treaty Six First Nations as the development progresses.
“As we enter into this new venture, I want to first express gratitude to our Creator, and to Mother Earth for her bounty. As companies and governments in Canada, and around the world, race to develop and invest in the infrastructure required to decarbonize the economy, we are very proud to be a part of this KANATA CarbonHub development. We are committed to doing our part for the unborn as we try to meet international commitments to reduce the impact of carbon emissions and slow climate change. Bringing innovative power technology to Canada through our previously announced Frog Lake-Kanata Power Plant Limited Partnership, which uses novel technology licensed from NET Power, LLC, combined with our local carbon sequestration knowledge, will also allow us to use Canada’s abundant natural gas supply as part of an integrated solution to reach Net Zero emissions by 2050. We are also committed to implementing the recommendations of the Truth and Reconciliation Commission by bringing Indigenous and non-Indigenous people together to tackle these big problems,” said Chief Greg Desjarlais, Chief of Frog Lake First Nations #121 and #122, and Chair of TCVI.
The KANATA CarbonHub REOI was submitted in response to Alberta’ REOI process which will lead to formal proposals to build carbon sequestration sites in Alberta. Details can be found at: Carbon Sequestration Tenure Management | Alberta.ca
“Most experts agree that there is no credible path to rapid emissions reduction without carbon capture and storage. Kanata CarbonHub will significantly help Alberta meet its decarbonization goals,” said KANATA Vice-Chair, Erin Campbell.
The KANATA CarbonHub will be owned by the “Kanata Carbon Hub Limited Partnership”, through which participating Treaty Six First Nations will be majority owners of a key carbon reduction infrastructure project in their traditional territory. Development partner KANATA, and technical partner Vault will own minority interests in the partnership.
In order to support the overall realization of the KANATA’s Net Zero & Net Negative Linked Infrastructure Development, KANATA and Vault are working together in the development and implementation of innovative, Indigenous-led CO sequestration assets.
“As an Alberta-based company, Vault is excited to participate in this ambitious First Nations-led project. We look forward to bringing our experience with over 20 carbon sequestration projects across North America to this partnership to create a world-class carbon hub,” said Vault President and CEO, Scott Rennie.
The Government of Alberta plans to issue a Request for Full Project Proposals (“RFPP”) by December. The Kanata Carbon Hub Limited Partnership looks forward to working with the province on this critical development for Alberta, Canada, and the world.
ABOUT PARTICIPATING TREATY SIX FIRST NATIONS
Treaty Six First Nations are the people indigenous to the territory now known as Alberta, Canada. The 17 Alberta-based nations party to Treaty No. 6, signed in 1876, assert all rights and title to their traditional territories, as memorialized in Treaty No. 6, and affirmed by Section 35 of the Constitution Act, 1982.
Frog Lake First Nations #121 & #122 and Kehewin Cree Nation, as individual nations, and in the future other participating Treaty Six First Nations acting collectively through Tribal Chiefs Ventures, Inc. (a tribal council within Treaty Six territory) will form the Kanata Carbon Hub Limited Partnership by which participating Treaty Six First Nations will be the majority owners of the KANATA CarbonHub project.
ABOUT KANATA CLEAN POWER & CLIMATE TECHNOLOGIES CORP.
KANATA is a leading Canadian decarbonization development and asset management platform, and a leading developer of Net Zero carbon emission electricity infrastructure in Canada. For more information visit: www.kanataclean.com or follow us on Twitter and LinkedIn.
ABOUT VAULT 44.01 LTD.
Based in Calgary, Vault is a highly experienced CCS project development organization with extensive expertise in secure geologic sequestration of CO2. Vault’s team members have been involved in the development of CO2 sequestration projects across North America since 2007, including TransAlta’s Project Pioneer, Petroleum Technology Research Centre’s (PTRC) Aquistore Project, Shell’s Quest Project, and Carbon Management Canada’s Field Research Station in western Canada. Vault’s goal is to enable cost-effective, wholesale decarbonization of industrial emitters in Alberta and across North America through CCS.
For more information visit: vault4401.com.
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CAUTION REGARDING FORWARD-LOOKING INFORMATION Certain statements contained in this news release may constitute forward‐looking information. Forward‐looking information is often, but not always, identified by the use of words such as “anticipate”, “plan”, “estimate”, “expect”, “may”, “will”, “intend”, “should”, and similar expressions. Forward‐looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking information. KANATA’s actual results could differ materially from those anticipated in this forward‐looking information as a result of regulatory decisions, competitive factors in the industries in which the KANATA operates, prevailing economic conditions, changes to KANATA’s strategic growth plans, and other factors, many of which are beyond the control of KANATA. KANATA believes that the expectations reflected in the forward‐looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. Any forward‐looking information contained in this news release represents KANATA’s expectations as of the date hereof, and is subject to change after such date. KANATA disclaims any intention or obligation to update or revise any forward‐looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.