Latest news with #GIP
Yahoo
2 days ago
- Business
- Yahoo
Green Impact Partners Announces Progress on Its Water and Recycling Facilities Sale; Provides Corporate Update
Calgary, Alberta--(Newsfile Corp. - May 30, 2025) - Green Impact Partners Inc. (TSXV: GIP) ("GIP" or the "Company") announced today an update on the sale of the Company's water, waste treatment and recycling facilities, as well as provides an update on recent corporate activities, including changes to its Board of Directors, and an update on the GreenGas Colorado JV. Water and Recycling Facilities Sale Update As previously announced, on May 21, 2025, GIP entered into a definitive agreement for the sale of its water, waste treatment, and recycling facilities located in Alberta and Saskatchewan, for total proceeds of $53.25 million, subject to working capital adjustments. GIP is pleased to report it has received further confirmation from the Purchaser regarding funding and expects to close the transaction on or before June 30, 2025. Completion of the transaction remains subject to the satisfaction or waiver of certain customary closing conditions, including the approval of the TSX Venture Exchange. "We look forward to closing this transaction by the end of June, allowing us to turn our full focus to advancing the Future Energy Park - a project that will deliver long-term value at a scale far beyond our current business," said Jesse Douglas, CEO of GIP. Corporate Activities Effective May 28, 2025, and May 29, 2025, David Spivak, and Natascha Kiernan, Jeff Hunter and Alicia Dubois, respectively, resigned from the Board of Directors of the Company. Looking ahead, GIP is pleased to welcome two accomplished professionals to its Board of Directors, effective May 30, 2025, bringing with them extensive experience and valuable perspectives as the Company moves into an exciting new chapter. Ahmed Kassongo joins the Board with over 20 years of leadership in finance, analytics, and investment management across both public and private sectors. He brings a strong track record of working with institutional investors and government bodies on complex financial strategies and data-driven policy. During his tenure at Alberta Investment Management Corporation (AIMCo), Ahmed played a pivotal role in delivering transparent and actionable financial reporting and investment performance analysis for some of Canada's largest pension and endowment funds. His client-first approach strengthened alignment between investment outcomes and long-term strategic goals. Ahmed has advised the Government of Saskatchewan's Ministry of Energy and Resources on energy-sector policy development, contributing to evidence-based decision-making at the provincial level. As GIP continues to scale, Ahmed's deep expertise in financial operations, reporting, and governance - along with his ability to navigate both regulatory and investment landscapes - will be a significant asset to the Board. Mr. Kassongo will serve as Chair of the Audit Committee of the Board of Directors. Alex Langer is a public markets specialist with over 20 years of experience in equity financing across a range of sectors, including mining, pharmaceuticals, and green technology. Throughout his early career at Canaccord Genuity, he played a key role in funding more than 100 private and public companies. Alex was instrumental in the initial $100 million capitalization of GIP and remains a founding and supportive shareholder. As Vice President of Capital Markets, Alex was a driving force behind the success of Millennial Lithium and Prime Mining, securing international financial backing and establishing key industry partnerships. He currently serves as Chief Executive Officer and President of Sierra Madre Gold & Silver, and as President of Li-FT Power, where he continues to apply his capital markets expertise to advance resource-focused companies. Mr. Langer will serve as Chair of the Board of Directors. "We're thrilled to welcome Ahmed and Alex to the Board, guiding and supporting the continued advancement of our biofuels platform," said Jesse Douglas. "Their deep expertise in finance, capital markets, and strategic growth comes at a pivotal time for our company. We are working to continue expanding our Board with complementary experience to support GIP's momentum and ensure strong, effective governance through this next phase of our growth." GreenGas Colorado JV Update GIP advises it has received a Default Notice (the "Notice") from US Infrastructure Investments Holdings LLC ("US Infra") in respect of the Seventh Amended and Restated Limited Liability Company Agreement ("LLCA") of GreenGas Colorado, LLC ("GGCO"), dated as of June 27, 2024. GGCO holds the Company's renewable natural gas facility in Colorado. The Notice alleges that the Company's subsidiary, Green Impact Partners U.S. Inc. ("GIPUS"), has committed a default under the LLCA and is attempting to exercise its alleged rights under the LLCA. GIP is disputing the validity of the Notice and the actions and is actively assessing all potential remedies and resolutions available to GIPUS. At this time, it is not possible to predict the outcome or the timing of the dispute resolution process, which has not currently commenced. Readers are cautioned that this is an evolving situation and there is no assurance that GIPUS will be successful in resolving this dispute on favourable terms, which could have a material adverse effect on the Company. About Green Impact Partners Inc. Green Impact Partners is forging a path towards a sustainable future by turning waste into energy. With a focus on renewable natural gas (RNG) and bioenergy projects, our mission is to acquire, develop, construct, and operate facilities that not only produce energy but also play an important role in waste reduction and lowering emissions. Our comprehensive approach spans the entire project life cycle, from idea generation through construction to ongoing operations. In addition to our RNG and bioenergy projects, GIP maintains a current portfolio of water and solids treatment and recycling facilities in Canada, alongside a solids recycling business in the United States. Traded on the TSX Venture Exchange under the symbol 'GIP', the Company invites you to join us in our journey. For more information about the Company, please visit Investor & Analyst Inquiries: Nikolaus KieferChief Investment Officer(236) 476-3445investors@ Media Inquiries: media@ Cautionary Statements This news release contains forward-looking statements and/or forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. When used in this release, such words as "would", "will", "anticipates", believes", "estimates", "explores" "expects" and similar expressions, as they relate to GIP, or its management, are intended to identify such forward-looking statements. Such forward-looking statements reflect the current views of GIP with respect to future events, and are subject to certain risks, uncertainties and assumptions. Many factors could cause GIP's actual results, performance or achievements to be materially different from any expected future results, performance or achievement that may be expressed or implied by such forward-looking statements. Certain information and statements contained in this news release constitute forward-looking statements, which reflects the Company's current expectations regarding future events, including, but not limited to: the closing of the Company's sale of its water, waste treatment, and recycling facilities; the Company's ability to challenge the Notice and retain its ownership position in GGCO. Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: the high degree of uncertainties inherent to feasibility and economic studies which are based to a significant extent on various assumptions; variations in commodity prices and exchange rate fluctuations; variations in cost of supplies and labour; lack of availability of qualified personnel; receipt of necessary transaction and project approvals; availability of financing for project development; uncertainties and risks with respect to developing RNG projects; general business, economic, competitive, political and social uncertainties; change in demand for clean energy to be offered by the Company; obtaining required approvals of regulatory authorities; ability to access sufficient capital from internal and external sources. For a more fulsome list of risk factors please see the Company's December 31, 2024, year-end Management Discussion and Analysis ("MD&A"), and AIF available of SEDAR+ at Management of the Company has included the above summary of assumptions and risks related to forward-looking statements provided in this release to provide shareholders with a more complete perspective on the Company's current and future operations and such information may not be appropriate for other purposes. The Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements included in this news release should not be read as guarantees of future performance or results. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. To view the source version of this press release, please visit
Yahoo
3 days ago
- Business
- Yahoo
Gatwick Airport boss moves on after 15 years
The chief executive of the UK's second largest airport is moving on after 15 years in the role. Stewart Wingate, who took up his position at Gatwick in 2010, is moving on to a newly created role overseeing three UK airports. As managing director, UK airports, for Vinci Airports and Global Infrastructure Partners (GIP) he will oversee the future development and strategic direction of Gatwick, Edinburgh and Belfast International, with the chief executives of all three airports reporting to him. Pierre-Hugues Schmit, currently chief commercial and operational officer at Vinci Airports and a non-executive director on the Gatwick board, will take over at the West Sussex airport. Both appointments will start on 1 September. Gatwick is one of the busiest single-runway airports in the world, serving approximately 43.2 million passengers in 2024. Plans for a second runway were backed by the government in February. The airport wants to move its northern runway, which is currently only used for taxiing or as a back up, and make it operational by the end of the decade. A joint statement from Vinci and GIP said: "Stewart is one of the most experienced aviation executives in Europe and on behalf of the Board we would like to thank him for his outstanding contribution to Gatwick. "His broad expertise and strong track record make him an ideal choice for the newly created role." Mr Wingate said: "It's been a privilege to lead the Gatwick team through a number of very exciting projects such as the seven-year planning process to bring our Northern Runway into routine use and more challenging periods such as the Covid pandemic. "The airport is in a strong financial and operational position with more airlines than ever before serving our passengers. Mr Schmit said he was "excited" to be joining Gatwick to lead it "through the next stage of its growth journey". Follow BBC Sussex on Facebook, on X, and on Instagram. Send your story ideas to southeasttoday@ or WhatsApp us on 08081 002250. Gatwick second runway backed by government Gatwick Airport has one of its busiest summers Gatwick CEO relieved as South Terminal reopens Gatwick Airport
BBC News
3 days ago
- Business
- BBC News
Gatwick Airport chief executive moves on after 15 years
The chief executive of the UK's second largest airport is moving on after 15 years in the Wingate, who took up his position at Gatwick in 2010, is moving on to a newly created role overseeing three UK airports. As managing director, UK airports, for Vinci Airports and Global Infrastructure Partners (GIP) he will oversee the future development and strategic direction of Gatwick, Edinburgh and Belfast International, with the chief executives of all three airports reporting to Schmit, currently chief commercial and operational officer at Vinci Airports and a non-executive director on the Gatwick board, will take over at the West Sussex airport. Both appointments will start on 1 September. Gatwick is one of the busiest single-runway airports in the world, serving approximately 43.2 million passengers in for a second runway were backed by the government in February. The airport wants to move its northern runway, which is currently only used for taxiing or as a back up, and make it operational by the end of the decade. A joint statement from Vinci and GIP said: "Stewart is one of the most experienced aviation executives in Europe and on behalf of the Board we would like to thank him for his outstanding contribution to Gatwick."His broad expertise and strong track record make him an ideal choice for the newly created role." Mr Wingate said: "It's been a privilege to lead the Gatwick team through a number of very exciting projects such as the seven-year planning process to bring our Northern Runway into routine use and more challenging periods such as the Covid pandemic. "The airport is in a strong financial and operational position with more airlines than ever before serving our passengers. Mr Schmit said he was "excited" to be joining Gatwick to lead it "through the next stage of its growth journey".
Yahoo
4 days ago
- Business
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BlackRock's GIP to buy controlling stake in Eni carbon capture business
This story was originally published on ESG Dive. To receive daily news and insights, subscribe to our free daily ESG Dive newsletter. BlackRock's Global Infrastructure Partners signed an exclusivity agreement Tuesday with Italian energy company Eni for the potential sale of a 49.99% co-controlling stake in Eni's carbon capture, utilization and storage business. Eni CCUS Holding owns and operates several projects across Europe, including in the United Kingdom and Netherlands. The energy company's carbon capture subsidiary also has the future right to acquire a project in Ravenna, Italy, projected to annually capture and store 4 millions tons of carbon dioxide by 2030. Once the deal and acquisition are finalized, GIP will not only own a stake in Eni's business but also support investments to develop carbon capture and storage projects, the two companies said. Eni, which is headquartered in Rome, Italy, said additional ventures could potentially be added to this lineup to 'build a wide platform of CCUS projects.' The energy company said the agreement came after a thorough selection process that involved several suitors who expressed interest in the carbon solutions subsidiary. Eni called carbon capture, utilization and storage a 'mature and safe technological process' in a May 27 release, and 'one of the key levers for the energy transition being the most efficient and effective decarbonization tool to support hard-to-abate industries in reducing their emissions.' The agreement with GIP aligns with Eni's broader strategy to split some of its operations into separate entities or satellites, and then sell minority stakes to get more funding for their development. 'The satellite model is an approach we have built to have additional funding sources to keep together the need to meet demand for traditional products, while also developing new, greener products," Eni Chief Financial Officer Francesco Gattei told Reuters earlier this month. The deal will also allow GIP to expand its green infrastructure portfolio. The global infrastructure investor was acquired by BlackRock in September, after regulators greenlit a deal announced in January 2024 that placed the value of the purchase around $12.5 billion. The acquisition combined GIP's $100 billion in assets under management and its energy, transport, water, waste and digital infrastructure focused portfolio with BlackRock's $50 billion infrastructure platform. At the time, the nation's largest asset manager cited 'a movement toward decarbonization and energy security in many parts of the world' as a reason for the deal. Recommended Reading BlackRock buys Global Infrastructure Partners, makes $12.5B bet on infrastructure market
Yahoo
5 days ago
- Business
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Eni Eyes Strategic Partnership With GIP in CCUS Business
Eni S.p.A. E has entered into exclusive negotiations with Global Infrastructure Partners ('GIP'), an investment group within BlackRock, to potentially sell a 49.99% co-control stake in its carbon capture, utilization, and storage ('CCUS') subsidiary, Eni CCUS Holding. The agreement marks a significant move in Eni's strategy to accelerate energy transition investments while unlocking value from its growing portfolio of decarbonization assets. The exclusivity period will allow both parties to complete due diligence and finalize transaction documentation. Eni CCUS Holding operates several key carbon capture initiatives, including the HyNet and Bacton projects in the UK and the L10 project in the Netherlands. It also holds future acquisition rights to the Ravenna CCS project in Italy, offering GIP a gateway to some of Europe's most critical carbon management infrastructure. Eni stated that the deal emerged from a competitive selection process with major international players, highlighting strong market interest in CCUS growth potential. In addition to acquiring a nearly 50% stake, GIP is expected to co-invest in expanding the CCUS platform. Eni views this as a validation of the value it's building within its energy transition portfolio, which includes renewable energy, sustainable mobility and low-carbon technologies. Eni recently secured financing for the Liverpool Bay CCS project, a key component of the UK's HyNet industrial cluster. The project aims to capture CO2 emissions from industrial facilities in North West England and North Wales, transporting them for permanent storage beneath the Irish Sea. Following project approval by the North Sea Transition Authority, Eni awarded major EPC contracts to Italian firms. Saipem will build a new CO2 compression station, while Rosetti Marino will deliver four offshore platforms for long-term CO2 storage. Earlier in May, Eni was among 44 oil and gas firms tasked by the EU to advance carbon storage initiatives to meet a bloc-wide goal of injecting at least 50 million tons of CO2 annually by 2030. The timing of Eni's stake sale discussions signals strong investor appetite for such infrastructure as Europe's regulatory and climate ambitions intensify. Eni's potential partnership with GIP could serve as a model for how legacy energy companies monetize transition-related assets while leveraging external capital to scale their decarbonization footprint across Europe. E currently carries a Zack Rank #4 (Sell). Investors interested in the energy sector may look at some better-ranked stocks like Subsea 7 S.A. SUBCY, Energy Transfer LP ET and RPC Inc. RES. Subsea 7 presently sports a Zacks Rank #1 (Strong Buy), while Energy Transfer and RPC carry a Zacks Rank #2 (Buy) each. You can see the complete list of today's Zacks #1 Rank stocks here. Subsea 7 helps build underwater oil and gas fields. It is a top player in the Oil and Gas Equipment and Services market, which is expected to grow as oil and gas production moves further offshore. The Zacks Consensus Estimate for SUBCY's 2025 EPS is pegged at $1.31. The company has a Value Score of A. Energy Transfer is poised to benefit from long-term fee-based commitments. It is also focused on expanding operations through organic and inorganic initiatives. The firm is looking for solutions to meet growing energy demands from additional demand centers through its pipeline network. Energy Transfer's systematic investments should boost its total fractionation capacity at Mont Belvieu and raise its top line. The Zacks Consensus Estimate for ET's 2025 EPS is pegged at $1.44. The company has a Value Score of A. RPC generates strong and stable revenues through a diverse range of oilfield services, including pressure pumping, coiled tubing and rental tools. The company is strongly committed to returning value to shareholders through consistent dividends and share buybacks. RPC's current dividend yield is higher than that of the composite stocks in the industry. Its new Tier IV dual-fuel fleet has boosted profits, with plans to further expand high-efficiency equipment to enhance operational capabilities. The Zacks Consensus Estimate for RES' 2025 EPS is pegged at 38 cents. The company has a Value Score of A. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Eni SpA (E) : Free Stock Analysis Report Energy Transfer LP (ET) : Free Stock Analysis Report RPC, Inc. (RES) : Free Stock Analysis Report Subsea 7 SA (SUBCY) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
