OTCQB:SNRG - Post by User
Post by
AveragePennyon Nov 15, 2022 12:33pm
154 Views
Post# 35100366
SusGlobal Energy Corp. Reports Third Quarter 2022 Financial
SusGlobal Energy Corp. Reports Third Quarter 2022 Financial Toronto, Ontario--(Newsfile Corp. - November 15, 2022) - SusGlobal Energy Corp. (OTCQB: SNRG) ("SusGlobal") or (the "Company"), the developer of SusGro™, a revolutionary pathogen-free organic liquid fertilizer and LEADERS IN THE CIRCULAR ECONOMY®, today announced financial results for the third quarter ended September 30, 2022 and provided an update on its operational progress.
Recent Highlights
- On June 28, 2022, the Company received Building Permit No. 21 165172 00 I3 from the City of Hamilton Building Division and on July 5th the Company announced that its wholly owned subsidiary, SusGlobal Energy Hamilton Ltd., continues the development of its 51,535 square foot facility on 3.26 acres located at 520 Nash Road North, in Hamilton, Ontario, which includes an Environmental Compliance Approval ("ECA") to process up to 65,884 metric tonnes per annum of organic waste. Completion of the second facility is slated for 2023, subject to the Company's effective registration statement, successful offering of securities of the Company and completion of a US$15,000,000 underwriting. The facility has the potential to generate an annual revenue run rate of US$101,595,000 (CA$135,000,000), based on 12,000 metric tonnes of organic waste processing or 18.5% of the ECA capacity.
- On July 11, 2022, the Company announced that its wholly-owned subsidiary, SusGlobal Energy Belleville Ltd., completed a Verified Emission Reductions and Removals ("VERRs") report as part of the carbon credit development process for the Anew SusGlobal Belleville Composting Offset Project (the "Project"). This report has been submitted to the GHG CleanProjects® Registry, a business unit of the Standards Division of the Canadian Standards Association ("CSA"). This Project is part of the Offset Development and Marketing Agreement (the "Agreement") with Anew Canada ULC (formerly known as Blue Source Canada ULC) ("Anew Canada") for developed and marketed greenhouse gas ("GHG") offset credits from the Company's 49-acre Organic & Non-Hazardous Waste Processing & Composting Facility in Belleville, Ontario. The Agreement allows SusGlobal to monetize and realize benefits from voluntary emission reduction activities.
- On September 21, 2022, the Company announced that its wholly owned subsidiary, SusGlobal Energy Belleville Ltd., generated its first Verified Emission Reductions and Removals ("VERRs") and sold its first carbon credits as part of the Anew™ SusGlobal Belleville Composting Offset Project in Ontario (the "Project"). The Project generated approximately 105,000 VERRS (generated from 2017 through 2021) with an approximate market value of between US$3.76 (CA$5.00) and US$7.52 (CA$10.00) per VERR. The Project report was submitted to the GHG CleanProjects® Registry, a business unit of the Standards Division of the Canadian Standards Association ("CSA"). The Project is part of the Offset Development and Marketing Agreement with Anew Canada ULC (formerly known as Blue Source Canada ULC) ("Anew Canada") for developed and marketed greenhouse gas ("GHG") offset credits from the Company's 49-acre Organic & Non-Hazardous Waste Processing & Composting Facility in Belleville, Ontario.