October 20, 2021
Toronto, Ontario – TerraVest Industries Inc. (TSX: TVK) (“TerraVest”) has been awarded its first manufacturing contract to supply a biogas upgrading system for a project located in Western Canada. The biogas upgrading system will have the capacity to process up to 1,200 Nm3/h of raw biogas and will remove impurities such as hydrogen sulfide and carbon dioxide to produce renewable natural gas (RNG) compliant with Canadian RNG specifications for pipeline injection.
Dustin Haw, Chief Executive Officer of TerraVest, commented, “We are extremely pleased that our Renewables group, which was launched only earlier this year, has already received a first contract. While this contract does not represent a material amount of revenue to TerraVest as a whole, it is a significant milestone in our effort to become a leading provider of renewable natural gas processing equipment. As a company with diversified capabilities, we saw the importance of utilizing our strengths in the design and manufacturing of gas processing equipment along with our in-house engineering expertise in RNG and alternative fuels to expand into clean energy in support of Canada’s Clean Fuel Standard to achieve net zero greenhouse gas emissions by 2050. We look forward to executing on more renewables projects as our sales pipeline continues to grow.”
Under the terms of the agreement, TerraVest Renewables will provide engineering, equipment design, manufacturing, and system integration for the RNG facility.