Capstone Infrastructure Corporation and Genalta Power Inc. Announce Strategic Alliance
TORONTO, Oct. 30, 2020 (GLOBE NEWSWIRE) -- Capstone Infrastructure Corporation (TSX: CSE.PR.A) (the "Corporation" or "Capstone") is pleased to announce its strategic alliance with Genalta Power Inc. (“Genalta”).
The strategic alliance provides an upfront capital injection to accelerate Genalta’s power development efforts and includes mechanisms for further funding to advance the company’s growing power development project pipeline.
"We are very pleased to be working with the team at Genalta, combining Genalta’s unparalleled experience in working with industrial partners to reduce waste and lower emissions for industry with Capstone’s strong balance sheet and operating expertise." David Eva, Chief Executive Officer, Capstone.
"Capstone’s investment and ongoing support will allow us to continue to develop carbon-neutral distributed generation facilities throughout Alberta and Saskatchewan. Our projects help our partners lower their carbon footprint while improving operating efficiencies. We are excited to be working with such a progressive development partner and the alliance with Capstone will help Genalta unlock previously untapped potential in the Flare Gas to Power market in Canada." Paul Miller, Chief Executive Officer, Genalta.
About Capstone Infrastructure Corporation
Capstone's mission is to power society, protect the environment, contribute to communities, and create value for its shareholders. Capstone owns and operates, approximately net 541 MW of installed capacity across 24 facilities in Canada, including wind, hydro, solar, biomass, and natural gas power plants. Please visit www.capstoneinfrastructure.com for more information.
About Genalta Power Inc.
Genalta Power is a privately held Canadian corporation in the business of developing, owning and operating independent power plants that produce and sell environmentally friendly electricity from waste and clean energy sources. Genalta capitalizes on opportunities in the independent power market by actively pursuing the development of dependable, cost-effective and environmentally responsible power generation facilities. Genalta pursues a mix of waste heat recovery, waste fuel gas, waste pressure, biomass and gas to power projects. Visit for www.genaltapower.com more information.
Notice to Readers
Certain of the statements contained within this document are forward-looking and reflect management's expectations regarding the future growth, results of operations, performance and business of the Corporation based on information currently available to the Corporation. Forward-looking statements are provided for the purpose of presenting information about management's current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. These statements use forward-looking words, such as "anticipate", "continue", "could", "expect", "may", "will", "intend", "estimate", "plan", "believe" or other similar words. These statements are subject to known and unknown risks and uncertainties that may cause actual results or events to differ materially from those expressed or implied by such statements and, accordingly, should not be read as guarantees of future performance or results. The forward-looking statements within this document are based on information currently available and what the Corporation currently believes are reasonable assumptions.
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Capstone Infrastructure Corporation
Chief Financial Officer