Entropy Inc. is pleased to announce Memoranda of Understanding ("MOUs") with four separate emitting corporations to develop Carbon Capture and Storage ("CCS") projects totaling approximately 1 million tonnes per annum ("TPA"). These MOUs represent an important step in commercial deployment of Entropy technology, demonstrate versatility across a broad range of applications and jurisdictions, and provide visibility to a significant pipeline of growth opportunities.
Additionally, Entropy is pleased to announce that Brent Allardyce and Jill Angevine will join the Entropy board as directors, and Rick Bower has been appointed to the Entropy executive team as Chief Technology Officer.
Highlights of the Third-Party Industrial Emitter MOUs
- Athabasca Oil Corp. and Entropy have agreed to jointly evaluate the development of the first net-zero oil sands production by deploying Entropy CCS technology at Leismer, Alberta. The Leismer facility is expected to capture up to 520,000 TPA.
- Black Swan Energy Ltd. and Entropy have agreed to jointly evaluate the development of modular CCS at the Aiken Creek Processing Facility in British Columbia. The initial application will be modular, intended to capture approximately 9,000 TPA, with the end target of capturing up to 150,000 TPA.
- A Northeast British Columbia focused midstream company and Entropy have agreed to jointly evaluate the development of CCS projects at two separate gas processing plants in British Columbia. The projects have the potential to capture approximately 185,000 TPA.
- A well-capitalized public midstream company has engaged Entropy to jointly evaluate the development of two separate CCS projects on gas processing facilities in Alberta totaling approximately 102,000 TPA.
- Scoping design, engineering, and subsurface evaluations are underway for each of the projects under MOU, with varying degrees of advancement. These four MOUs are in addition to the previously announced project at the Advantage Glacier Gas Plant (182,000 TPA in two phases), where all major equipment for phase 1 has been purchased and preparations for construction are underway.
Entropy continues to engage with numerous other third-party emitters in a variety of industrial sectors and commercial applications such as boilers, compressors and power generation, with a significant pipeline of additional potential projects in development.
Entropy Board of Directors and Executive Additions
Jill Angevine has joined Entropy's board effective immediately. Ms. Angevine is an accomplished financial professional and currently serves on the board of Advantage.
Brent Allardyce (P. Eng.) has joined Entropy's board effective immediately. Mr. Allardyce is a principal and founder of Allardyce Bower Consulting Inc. ("ABC") and has played a critical role in the development of Entropy modular CCS technology, with direct involvement in the project since its inception.
Rick Bower (P. Eng.) has been appointed as Chief Technology Officer of Entropy. Mr. Bower is a principal and founder of ABC and has been a key driver of innovation and technology behind Entropy's modular CCS technology, including the integration of state-of-the-art research derived from Clean Energy Technologies Research Institute ("CETRI") research.
While Messrs. Allardyce and Bower will continue in their current roles at ABC, the two companies have agreed to an exclusive relationship in CCS whereby Entropy owns all CCS technology, patents and intellectual property, develops and finances commercial projects, licenses technology and provides regulatory services. ABC will provide all engineering, procurement and construction management for Entropy CCS projects in addition to supporting the development of CCS projects, while striving to continuously advance the science of carbon capture.
Entropy is committed to commercial deployment of state-of-the-art technologies in CCS and in other clean energy opportunities, building on the combined strengths of Advantage, ABC and our advisors from CETRI.
