Dear subscribers,
CPS is please to announce the receipt of an Environment Act Licence on July 27, 2023, permitting the Company to construct and operate its Wanipigow sand extraction and processing facility. This facility will supply rare, low-iron silica sand to the Company’s patterned solar glass manufacturing facility in Selkirk, Manitoba. The full press release can be
found here.
“The receipt of the Environment Act Licence for Wanipigow marks another important milestone for the Company,” stated Company President & CEO, Glenn Leroux. “Following the earlier issuance of an Environment Act Licence to construct and operate our patterned solar glass manufacturing facility, the Company is now in receipt of all required environmental permits to start construction of the Project.”
In preparation for the construction and operational phases of the Project, the Company has executed an agreement with Manitoba Hydro to secure long-lead items, commenced further geotechnical work on the Selkirk site, and completed a Phase 1 environmental assessment of the Selkirk site confirming no contamination or environmental issues. In addition, CPS has begun identifying candidates for key operational roles and has commenced the development of standard operating procedures for the manufacturing facility in preparation for commissioning and operational ramp-up.
CPS continues to progress commercial offtake agreements, with current binding agreements representing a minimum of 62% of planned output and an objective of reaching 100% contracted status prior to construction. Since Q1 2023, there have been several public announcements from solar panel manufacturers for new or expanded facilities. In aggregate, these new facilities represent an additional 29GW of potential incremental demand for patterned solar glass and bring the Company’s current estimate of market demand to over 100GW by 2027. Once operational, CPS will supply patterned solar glass for 6GW of panel manufacturing capacity in North America and with first mover advantage, the Company is seeking alignment and long-term relationships with the highest quality counterparties.
Sincerely,
CPS Investor Relations Team IR@cpsmail.com o: 587.355.3714