$178M mkt cap company signed $545 Million Partnering Agreement
Cup & Handle breakout as this company is getting re-rated after recent news release...
Green Impact Partners Announces $545 Million Partnering Agreement
Calgary, Alberta--(Newsfile Corp. - February 21, 2023) - Green Impact Partners Inc. (TSXV: GIP) ("GIP" or the "Company") is pleased to announce it has selected Amber Infrastructure Group ("Amber Infrastructure") as a strategic partner on its GreenGas Colorado, Iowa RNG and Future Energy Park projects, representing up to $545 million in total investment for a 50% project-level equity interest in each facility. Based in London, with offices in North America, Europe and Australia, Amber Infrastructure is an infrastructure investor with over $8 billion in assets under management.
All of the documentation for the various agreements with Amber Infrastructure is being held in escrow and will be released and come into effect upon Amber Infrastructure advancing the purchase proceeds under the unit purchase agreement in respect of the GreenGas transaction described below, which is anticipated to occur on February 23, 2023.
Green Impact Partners Announces $545 Million Partnering Agreement
Calgary, Alberta--(Newsfile Corp. - February 21, 2023) - Green Impact Partners Inc. (TSXV: GIP) ("GIP" or the "Company") is pleased to announce it has selected Amber Infrastructure Group ("Amber Infrastructure") as a strategic partner on its GreenGas Colorado, Iowa RNG and Future Energy Park projects, representing up to $545 million in total investment for a 50% project-level equity interest in each facility. Based in London, with offices in North America, Europe and Australia, Amber Infrastructure is an infrastructure investor with over $8 billion in assets under management.
All of the documentation for the various agreements with Amber Infrastructure is being held in escrow and will be released and come into effect upon Amber Infrastructure advancing the purchase proceeds under the unit purchase agreement in respect of the GreenGas transaction described below, which is anticipated to occur on February 23, 2023.
Calgary, Alberta--(Newsfile Corp. - February 23, 2023) - Green Impact Partners (TSXV: GIP) ("GIP" or the "Company") is pleased to announce the closing of the GreenGas Colorado Partnership and provide an update on its previously disclosed sale of a 50% equity interest in Future Energy Park and Iowa RNG to Amber Infrastructure Group ("Amber Infrastructure").
Completed 50% sale GreenGas Colorado for $60 million
GIP's sale of a 50% interest in GreenGas Colorado to Amber Infrastructure for $60 million closed today as expected.
50% sale of Future Energy Park and Iowa RNG for $485 million update
GIP continues to progress all final development permits, which have now cleared all notification periods, and is working collaboratively with government agencies to work through the administrative components. Following receipt of final permits and the close of project debt, which is expected in the next few months, with equity fully funded, GIP will receive approximately $340 million in 2023 to build Future Energy Park and Iowa RNG, with both projects slated to begin construction in 2023. The remaining $145 million of sale proceeds is payable when the projects commence commercial operations. Preliminary closing conditions have been satisfied prior to entering into the strategic partnership agreement.
Following the close of Future Energy Park and Iowa RNG, GIP expects to have approximately $70 million in available cash at the end of 2023 and anticipates developing five additional projects expected to start construction in 2023 and early 2024.
When commercial operations of Future Energy Park commence, combined with the other projects mentioned above, the Company is forecasting to have a run-rate EBITDA of approximately $225 million exiting 2025.