Entropy Inc, the Canadian company focused on carbon capture and storage technologies, announced this Monday it has formally initiated a process to explore alternatives for raising external capital intended for the development of carbon capture and storage.
Firstly, the raising of external capital would include the private placement of equity securities of the Corporation; all proceeds will go to the development of carbon capture and storage projects that use Entropy’s patent-pending technology.
Secondly, Entropy’s patent pending technology is called Entropy23TM; it is a solvent-based technology that allows geological carbon storage. Indeed, it is a revolutionary technology that will deliver commercial profitability at a carbon price below CAN$50/ton.
Thirdly, the technology from Entropy uses Modular Carbon Capture and Storage technology; if the fund raising succeeds, the company will deploy this technology in the global effort to reduce and eventually eliminate carbon emissions.
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Entropy Inc with a solid base provided by Advantage Energy
Moreover, the company has retained TD Securities Inc., Scotia Capital Inc. and Desjardins Securities Inc. as agents for the Financing. According to the company’s statement, it won’t provide any updates on the progress of this initiative until it reaches a definitive outcome.
On the other hand, Entropy Inc. is a wholly owned subsidiary of Advantage Energy. Advantage Energy is a low-carbon energy producer focused on developing its high quality Montney resources.
Furthermore, the company’s owned infrastructure, top-tier cost structure and capital efficiency will provide a strong foundation for sustainable, disciplined production growth for Entropy Inc. In fact, Advantage Energy already participates in the CCUS market in Canada; through its low emissions-intensity assets and the Glacier CCS asset. It delivers clean, reliable and sustainable energy, contributing to a reduction in global emissions by displacing high-carbon fuels.
Finally, Advantage Energy’s common shares trade on the Toronto Stock Exchange under the symbol AAV with its head office in Calgary, Alberta, Canada.
