(TheNewswire)
Australia – TheNewswire – October 20, 2022 - Jervois Global Limited (“ Jervois ” or the“ Company ”) (ASX:JRV) (TSXV:JRV) (OTC:JRVMF) advises it has securedaccess to long term, renewable electricity at its Finland operationsas a flow through from two, separate, 10 year contracts with StatkraftAS ( “Statkraft” ) and Gasum Oy ( “Gasum” ) whichUmicore has entered into for its adjacent business. Under Jervois andUmicore’s operating relationship at the Kokkola Industrial Park,Umicore is responsible for providing Jervois a number of utility andother services under a Master Services Agreement ( “MSA” ).
This renewable electricity represents approximately twothirds (or 17.5 GWh) of the total annual power consumption atJervois’ Finland operations (prior to potential expansions) and willcommence in 2024 (Statkraft) and 2025 (Gasum) respectively. Thesecontracts relating to the use of renewable electricity generated fromonshore wind are anticipated to reduce Jervois Finland’sCO 2eq emissions by up to30%.
In addition to lowering Jervois’s carbon footprint,these contracts also stabilise the Company’s purchased electricitycost, reducing exposure to current and future volatility in Europeanenergy markets for the mutual benefit of the Company and itscustomers.
Statkraft will provide certified renewable electricityper year until 2033, from the Nuolivaara wind farm, in northernFinland. The non-subsidized wind farm will consist of 17 wind turbineswith a total installed capacity of 96.9 MW and is expected to becommissioned in 2024.
Statkfraft is owned by the Norwegian State, and as aleading power purchase agreement ( “PPA” ) provider,brings together electricity producers and companies from trade andindustry across Europe and develops new innovative concepts. InFinland, Statkraft offers PPA’s to industrial and commercialcompanies as well as to project developers and investors enablingthe financing of new renewable power plants. As one of the mostimportant actors in the European energy market, Statkraft tradesenergy and renewable energy certificates in Finland.
Gasum will provide certified renewable electricity peryear until 2034 from a non-subsidized wind farm, which is expected tobe commissioned by the end of 2023 or early 2024.
Gasum is a Finnish State owned utility that is alreadya major actor in the wind power segment; its PPA with Umicore (ofwhich Jervois is partially underwriting), increases its market sharefurther. Besides wind power, Gasum’s energy portfolio includeshydroelectricity, solar power, and bioenergy. The company also offersbiogas and natural gas for industry, maritime shipping, and roadtransport.
On behalf of Jervois Global Limited,
Bryce Crocker, Chief Executive Officer
For further information, please contact:
Investors and analysts: James May Chief Financial Officer Jervois Global | Media: Nathan Ryan NWR Communications nathan.ryan@nwrcommunications.com.au Mob: +61 420 582 887 |
Forward-LookingStatements
This news release may containcertain “Forward-Looking Statements” within the meaning of theUnited States Private Securities Litigation Reform Act of 1995 andapplicable Canadian securities laws. When used in this news release,the words “anticipate”, “believe”, “estimate”,“expect”, “target, “plan”, “forecast”, “may”,“schedule”, “expected” and other similar words or expressionsidentify forward-looking statements or information. Theseforward-looking statements or information may relate to the futurepurchase of renewable electricity, the reduction in CO 2eq emissions at the Finland operations, the start date of generation byStatkraft and Gasum and certain other factors or information. Suchstatements represent Jervois’ current views with respect to futureevents and are necessarily based upon a number of assumptions andestimates that, while considered reasonable by Jervois, are inherentlysubject to significant business, economic, competitive, political andsocial risks, contingencies and uncertainties. Many factors, bothknown and unknown, could cause results, performance or achievements tobe materially different from the results, performance or achievementsthat are or may be expressed or implied by such forward-lookingstatements. Jervois does not intend, and does not assume anyobligation, to update these forward-looking statements or informationto reflect changes in assumptions or changes in circumstances or anyother events affections such statements and information other than asrequired by applicable laws, rules and regulations.
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in policies ofthe TSX Venture Exchange) accepts responsibility for the adequacy oraccuracy of this release.
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