EverWind Fuels Supports Government of Canada on Amendments to Atlantic Accords

Offshore Wind Can Help Atlantic Canada's Renewable Fuel Projects Scale to Meet Global Demand

HALIFAX, NS, June 1, 2023 /PRNewswire/ - EverWind Fuels Company ("EverWind"), Canada's most advanced large-scale green hydrogen project, supports the Government of Canada's announcements which set the foundation for Canada's burgeoning offshore renewable energy industry.

Atlantic Canada is home to one of the best wind resources in the world, which has to-date gone virtually untapped. The bill to amend the Atlantic Accords and expand the mandate of Nova Scotia and Newfoundland & Labrador's offshore petroleum boards to include renewable energy demonstrates Canada's proactive approach to kickstarting a new engine that will drive the country's economic growth sustainably.

"The amendments proposed by the Minister of Natural Resources lay the groundwork for a clear, safe, and efficient regime, setting Canada up as the preeminent leader in green energy globally," said Trent Vichie, CEO of EverWind. "To put this opportunity in perspective – there is over 100GW of offshore power generation potential in the shallow waters off the shores of Nova Scotia alone. Canada's entire power generation capacity today is less than 150GW. If passed, this legislation has the potential to change the course of Atlantic Canada's future. We have not stood still waiting, and with over $100 million invested to-date, EverWind has the most advanced large-scale green hydrogen project in Canada. We hope to leverage our experience to begin a new project in Newfoundland shortly, and we see many decades of growth to come with the opportunity offshore wind represents for Canada to both consume and export its renewable energy."

EverWind's marine terminal in Cape Breton, Nova Scotia is perfectly situated to become a multi-user terminal for offshore wind generators. Wind power can be converted at EverWind's site into green hydrogen or ammonia for local usage, long-distance transport, or large-scale energy storage. EverWind's base of operations includes over 3,000 acres of industrial-zoned land which can host well over 20GW of electrolyzers with shipping capacity to deliver 20 million tonnes of green ammonia or 4 million tonnes of green hydrogen. This includes a terminal with the safest track record in North America with 17 years without a lost time incident. The terminal is the deepest port on the east coast of North America and has access to adjacent rail and road.

"We have been in discussions with a number of offshore wind players who recognize the value a multi-user terminal like ours offers," said Vichie. "EverWind Fuels can provide immediate, critical infrastructure to offshore wind proponents, expediting Atlantic Canada's path to becoming a renewable fuel powerhouse."

"The Accord Act amendments are of vital importance, not only to Canada's offshore wind sector but also to our green hydrogen and ammonia producers," said Lisen Bassett, Policy and Communications Lead at Marine Renewables Canada. "By laying the foundation for a regulatory framework to govern offshore renewable energy, these amendments signal to the world that Canada is ready for offshore wind. Be it for domestic supply or Power-to-X, offshore wind will create major opportunities for our local businesses and communities, and we are thrilled to see this important step taken to foster the growth of the offshore wind industry in Canada."

As Equity Partners in EverWind's Point Tupper Project in Nova Scotia, the Mi'kmaw First Nation corporate entities of Bayside Development (Paqtnkek), Membertou, and Potlotek also support the Accord Act amendments.

"The green energy transition, including the development of offshore wind resources, provides Mi'kmaw with an opportunity to be at the forefront of an industry that aligns with our values of sustainable development while bringing social and economic opportunities to our communities," said Rose Paul, CEO, Bayside Corporate (Paqtnkek).

"With the offshore renewable energy industry growing globally, and the proposed amendments to the accord, Nova Scotia has great opportunity to be leaders in the shift to green energy. The proposed amendments would create a safe and progressive approach, and as stewards of land and water, the Mi'kmaq recognize the immense potential for the future," said Chief Terry Paul, Chief & CEO, Membertou.

"In Potlotek, we are proud to be a part of sustainable economic development of our natural resources, both on land and at sea. Governments and industry are recognizing that all things in our natural environment are connected. The proposed Atlantic Accord amendments will help to ensure that the development of wind resources off the coast of Nova Scotia will be a benefit for future generations," said Chief Wilbert Marshall.  

About Green Hydrogen & Green Ammonia
EverWind converts renewable power first into green hydrogen and then into green ammonia, which is a form that can be transported safely around the world and used as a clean source of energy. EverWind works with some of the largest European energy companies, leading hydrogen & ammonia equipment suppliers, and financial advisors.

Recognition of the Mi'kmaq & their Ancestral Territory
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 Mi'kmaw 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.

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 reflects a highly skilled and extensively certified workforce, with a stellar safety record.

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 executive team members have previously held CEO and C-Suite positions at various infrastructure, private equity, renewable power and utility companies and their investment experience totals more than $45 billion in capital projects over the past two decades.

EverWind's Nova Scotia Projects
The first phase is permitted and set to produce approximately 240,000 tonnes per annum of green ammonia starting in 2025, then achieve 1.5 million tonnes per annum production by 2026 through a second phase. The next phase of our Nova Scotia project will generate green energy through a 2+ GW wind farm currently under development, which is expected to be the largest in North America.

EverWind's Newfoundland & Labrador Projects
Leveraging our Nova Scotia platform and development experience, EverWind is also pursuing a sister project on the Burin Peninsula in Newfoundland & Labrador. This project will consist of an additional 2+ GW wind farm to produce green hydrogen and ammonia, very similar to the second phase of our Nova Scotia project.

SOURCE EverWind Fuels Company