Advantage Energy's Entropy looks to arrange financing
2021-08-23 17:45 ET - News Release
Mr. Michael Belenkie reports
ENTROPY INC. INITIATES FORMAL PROCESS TO PURSUE ALTERNATIVES TO FUND CARBON CAPTURE AND SEQUESTRATION (CCS) GROWTH INITIATIVES
Advantage Energy Ltd.'s Entropy Inc. has initiated a formal process to explore alternatives for raising external capital, including a private placement of equity securities of the corporation.
Entropy intends that the net proceeds from the financing would be used to fund the commercial development of carbon capture and sequestration (CCS) projects using Entropy's patent-pending process design, Entropy23 solvent, and deep expertise in geological carbon storage.
Entropy has retained TD Securities Inc., Scotia Capital Inc. and Desjardins Securities Inc. as agents for the financing. The corporation does not intend to provide any updates on the progress of this initiative until a definitive outcome is reached.
About Entropy Inc.
Entropy is a privately owned company (Advantage 90 per cent and Allardyce Bower Holdings Inc. 10 per cent), founded to apply sophisticated science and engineering to commercialize CCS. Entropy's technology is expected to deliver commercial profitability at a carbon price below $50 a tonne, using proprietary modular carbon capture and storage technology. Entropy intends to deploy this technology in the global effort to reduce and eventually eliminate carbon emissions.
About Advantage Energy Ltd.
Advantage is a low-carbon energy producer focused on developing its high-quality Montney resources. Advantage's owned infrastructure, top-tier cost structure and capital efficiency provide a strong foundation for sustainable, disciplined production growth. With modern, low emissions-intensity assets and the Glacier CCS asset, Advantage continues to proudly deliver clean, reliable and sustainable energy, contributing to a reduction in global emissions by displacing high-carbon fuels. Advantage's head office is in Calgary.
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