TORONTO, May 23, 2019 (GLOBE NEWSWIRE) -- Certarus Ltd. ("Certarus" or the "Corporation") is pleased to announce that it has entered into a definitive agreement with Union Energy Solutions Ltd., a wholly owned subsidiary of Enbridge Inc., collectively (“Enbridge”), enabling a strategic alliance and commercial investment by Enbridge into Certarus’ compressed natural gas (CNG) infrastructure platform to service the northern Ontario industrial sectors.
Certarus expects this strategic alliance will further advance its bulk CNG platform to key regions within Northern Ontario that are currently not serviced by natural gas pipelines. Certarus has developed a North American-wide bulk CNG platform to bring cost effective, environmentally preferred, natural gas safely and reliably to end users. Certarus’ first terminal, located in Timmins, Ontario, is currently supplying large scale mining operations in the region. Certarus proactively built out capacity to displace over 500,000 liters of fuel per day with additional availability to expand.
Through this agreement, Certarus will expand its CNG service offering into additional projects in mining, forestry, and industrial activity currently running on diesel, bunker oil or propane. Supplying natural gas directly to industrial and commercial end-users, will provide a reliable supply of clean, cost effective energy to help support government mandates to promote cleaner-burning fuels.
"We see the increased adoption of CNG as an opportunity to displace diesel, propane and bunker oil to promote cost savings and reduce environmental impacts. Certarus operates the largest bulk CNG trailer fleet in North America and has built over 18 large-scale bulk CNG compression hubs across North America. We serve customers in all major industries across North America and are increasingly supporting customers in Northern Ontario’s key industries that can benefit from the Certarus mobile pipeline,” said Nathan Ough, Vice President of Certarus.
“Access to a reliable and economic energy choice is a game changer for northern Ontario,” said Cynthia Hansen, President of Utility and Power Operations, Enbridge Inc. "Through CNG, large businesses can significantly lower their energy costs, be more competitive and create local jobs.”
Outside of the Corporation’s first terminal in Timmins, Ontario, Certarus is constructing additional CNG terminals in Red Rock (Thunder Bay Region), Ontario during Q2 2019 and in southern Ontario during Q1 2020.
ABOUT CERTARUS
Certarus Ltd is the North American market leader in providing a fully integrated bulk compressed natural gas (CNG) solution. The primary business is the creation of a “Virtual Natural Gas Pipeline” through the compression, transportation and integration of CNG for the utility, energy services, mining, forestry, agricultural and industrial sectors.
For more information, please visit www.certarus.com
For more information please contact:
Certarus Ltd.
Nathan Ough
Vice President
Certarus Ltd.
C:1-346-718-1139
E:nough@certarus.com
Curtis Philippon
President & CEO
Certarus Ltd.
O:1-403-930-0116
E:cphilippon@certarus.com
FORWARD-LOOKING STATEMENTS
Certain information contained in this document constitutes forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Corporation's control including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, competition from other industry participants, the lack of availability of qualified service providers, personnel or management and ability to access sufficient capital from internal and external sources, the inability to obtain required consents, permits or approvals and the risk that actual results will vary from the results forecasted and such variations may be material. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Corporation's actual results, performance or achievement could differ materially from those expressed in or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Corporation will derive therefrom.
The forward-looking statements contained in this document are made as of the date hereof. Certarus disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Additionally, Certarus undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.