NEWS RELEASE, Office of the Premier, Feb. 15, 2010
VANCOUVER - Premier Gordon Campbell officially kicked off Clean Energy Day at Robson Square during the 2010 Winter Games by announcing three new major clean energy and technology investments in the province of British Columbia.
"British Columbia has enormous clean energy potential and together with industry, we are putting it to work for our economy, generating new jobs and new wealth for B.C. communities, while lowering greenhouse gas emissions within and beyond our borders," said Premier Campbell. "Today, on Clean Energy Day, we are showcasing the incredible growth and innovation taking place in our province's clean technology sector and in bioenergy, hydro, wind, geothermal, tidal, wave and solar energy generation."
Clean Energy Day showcases B.C.'s vibrant green business sector as well as industry confidence and multi-million dollar investments in British Columbia's clean energy future.
"We need to address both B.C.'s growing energy needs and climate change, which will require increased development of clean, renewable energy,"
said Blair Lekstrom, Minister of Energy, Mines and Petroleum Resources.
"The Province is working hard to support clean energy solutions, and we are lucky that B.C. is home to companies whose innovation is attracting partnerships and investment from clean energy leaders around the world."
Several of B.C.'s clean energy leaders and international partners joined Premier Campbell on Clean Energy Day for major announcements demonstrating their commitment to B.C.'s clean energy future:
B.C. biomass energy company Pacific BioEnergy Corporation is partnering with global energy leader GDF SUEZ on a $24-million expansion of the wood pellet plant in Prince George. GDF SUEZ has also agreed to purchase 2.5 million tonnes of carbon-neutral wood pellets over the next 10 years. The expansion project will result in improved air quality in Prince George and greater use of mountain pine beetle killed timber in the surrounding forests. Use of carbon-neutral B.C. wood pellets by GDF SUEZ will result in significant reductions in CO2 emissions at its electrical facilities in Europe.
Vancouver-based global venture capital firm Chrysalix Energy announced that their Chrysalix Energy Limited Partnership III (CELP III) fund now exceeds US$100 million and is on target to reach US$150 million by March 31, 2010.
Additionally, Credit Suisse has decided to invest in Chrysalix through its affiliate, the Oregon Investment Fund.
The University of British Columbia (UBC) and Nexterra Systems Corp. are partnering to demonstrate the world's first installation of a unique biomass-fuelled combined heat and power (CHP) solution developed by Nexterra and GE Power& Water's gas engine division. The CHP system will provide clean, renewable heat and electricity for UBC's Vancouver campus and a platform for bioenergy research. Commercialization of the Nexterra/GE CHP system has the potential to realize up to $1 billion in export sales by 2020.
These investments will help the Province to continue to advance its commitment to clean, renewable energy.
Clean and renewable energy continues to be a cornerstone of the Province's climate action plan, which will create jobs, support families and generate new economic activity throughout British Columbia, while lowering greenhouse gas emissions within and beyond our borders.
Electricity self-sufficiency and clean and renewable power generation are integral to B.C.'s effort to reduce its carbon footprint and fight climate change.
Clean Energy Day is part of the Province's 2010 Olympic and Paralympic business hosting strategy, which will feature dozens of events and outreach opportunities to promote British Columbia's core industries, diverse regions and communities, and investment and job- creation potential throughout the province.
PACIFIC BIOENERGY / GDF SUEZ
Pacific BioEnergy Corporation, a leading B.C. biomass energy company, and global energy leader GDF SUEZ are demonstrating their commitment to B.C.'s clean energy future with a $24- million expansion of the wood pellet plant in Prince George. The project will result in cleaner air in Prince George, new jobs and greater use of mountain pine beetle killed timber from surrounding forests. The companies expect the project to be completed in fall 2010.
GDF SUEZ has also agreed to purchase 2.5 million tonnes of carbon-neutral B.C. wood pellets over the next 10 years, significantly reducing CO2 emissions by over four million tonnes at its electrical generating facilities in Europe. This is equivalent of taking over two million cars off the road for a year. For more information, visit www.pacificbioenergy.ca.
Chrysalix Energy, a global venture capital firm focused on early-stage clean energy technologies, is another B.C. company driving the province's clean energy economy of the future. According to Bloomberg/New Energy Finance, Chrysalix has recently become the third most active clean energy technology venture capital firm in the world (measured in number of deals done in the past decade). Over the past few years, Chrysalix has helped to raise more than US$250 million for early-stage Canadian clean energy technology companies - five of them in Metro Vancouver. In North America, Chrysalix has invested in 24 startup companies, and in Europe in an additional five (through its affiliated fund SET Venture Partners in Amsterdam). Investors in Chrysalix include blue chip industry leaders Total Energy, Kuwait Petroleum, Delta Lloyd, Fortum, Essent, Robeco, Sitra, FondAction, BASF, Mitsubishi, Shell and others. For more information, visit www.chrysalix.com.
UBC / NEXTERRA SYSTEMS CORP. / GE
The University of British Columbia (www.ubc.ca) and Nexterra Systems
Corp. (www.nexterra.ca), a leading biomass gasification company, are partnering to install and demonstrate a unique, on-site biomass-fuelled combined heat and power (CHP) system. The CHP system will be located at UBC's Vancouver campus, where it will provide clean, renewable heat and electricity for the campus and ongoing bioenergy research.
The new CHP system, the first of its kind in North America, combines Nexterra gasification and syngas conditioning technologies with a GE high efficiency Jenbacher gas engine. Woody biomass will be gasified and converted into clean synthetic gas (or "syngas") that will be directly fired into a gas engine. The CHP system will be capable of providing very high net efficiencies - up to 65 percent in cogeneration mode. The system will produce renewable heat and power while surpassing Metro Vancouver's air quality standards.
The solution will produce two megawatts of clean, cost-effective electricity that will offset UBC's existing power consumption. This is the equivalent electricity required to power about 1,500 homes. The system will also generate enough steam to displace up to 12 per cent of the natural gas that UBC uses for campus heating, thereby reducing greenhouse gas emissions by up to 4,500 tonnes per year. This is the equivalent of taking more than 1,100 cars off the road.
Office of the Premier
Dr. Wal van Lierop
President and CEO
Chrysalix Energy Venture Capital
Cell: 604 808-2555
Nexterra Systems Corp.
604 637-2501 Ext. 107