Genalta Power and Proton Technologies Sign Fuel Supply LOI

(BUSINESS WIRE) -- The Kopahawakenum (Cree for “Kicking up the dust”) 15-Megawatt Flare Gas to Power Facility announced by SaskPower, Flying Dust First Nation, and Genalta Power, online 2023, plans to purchase Flare Gas from Proton Canada’s nearby asset, according to a letter of intent recently signed between the CEO of Genalta, Paul Miller, and the CEO of Proton, Grant Strem.

To ensure sufficient supply for the Kopahawakenum Facility, plus Proton’s own 4.2 MW Power Purchase Agreement and other off-takers, the plan is to install a Cryogenic Air Separation unit (ASU), for injecting pure oxygen and third-party CO2 into Proton’s underground oil deposit to increase hydrogen-productive reactions.

Cold gases from the ASU can separate produced gases by freezing or liquifying these at various cold temperatures at the surface using passive heat exchange. Unwanted components like CO2 are planned to go back into the ground, where reactions can cause them to solidify into forms like carbonate rock. Proton has been demonstrating their patented method for accelerating carbonate creation within pores in the earth, by injecting steam boiler blow-down (reactive waste stream fluid) into their CO2-rich subsurface environment.

Proton’s PPA has final approval and plans and designs for construction are underway. Genalta’s Kopahawakenum PPA is conditionally approved under Saskatchewan’s Oil and Gas Processing Investment Incentive (OGPII), and the Saskatchewan Petroleum Innovation Incentive (SPII), which provide royalty credits at a rate of 15% and 25% of expenses respectively, after the private investments are made.

Grant Strem said, “I want to thank Genalta, the government of Saskatchewan, the First Nations Power Authority, and the Flying Dust First Nation for boldly and creatively enabling improvements over our current energy systems. There will be economic and ecological benefits from this first project, and we believe also from hundreds or even thousands of larger similar projects around the world in the long course of time, thanks to the efforts and investments of those involved in this global first. Proton is very pleased to have Genalta as our creative, positive customer. This flex-fuel offtake deal helps justify and enable a “small enough to be fast” commercial demonstration of core elements of Proton’s method to produce low cost hydrogen while sequestering carbon inside the earth as rock. Many oil assets late in their productive life cycle can be repurposed to make clean energy, leveraging the infrastructure and investments of the past. We plan to expand as fast as we can afford to.”

Paul Miller said, “Kopahawakenum is a cornerstone project that will help the energy industry in Saskatchewan to meet the goals announced by the federal government to reduce GHG emissions 30% in the industry by 2030. Additionally it will be including First Nations in energy stewardship in the province in a meaningful way, creating long term jobs and a replicable approach to utilizing Flare and Vent Gas for power generation. Proton’s fuel supply is critical for the Kopahawakenum project. We thank Proton for their collaboration and support; their visionary project is a game changer in the energy industry with tremendous potential to provide large quantities of emissions free fuel at an economical price to the global market. We are proud to be working with them to further reduce emissions in Saskatchewan and hope to utilize their clean Hydrogen in the future as we continue to expand our clean power base in the province.”

For more information please contact info@proton.energy or investorrelations@proton.energy.

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