[Barnes]

On the good news front...

CALGARY, AB, Dec. 20, 2023 /CNW/ - Today, Canada Growth Fund Inc. ("CGF") and Advantage Energy Ltd. (TSX: AAV) ("Advantage") announced that CGF has entered into a strategic investment agreement with Entropy Inc. ("Entropy" or the "Company"), a Calgary-based developer of technologically-advanced carbon capture and sequestration ("CCS") projects with the potential to significantly reduce emissions in Canada and worldwide.

CGF has agreed to a $200 million investment in Entropy coupled with a fixed-price carbon credit purchase agreement ("Carbon Credit Offtake Commitment" or "CCO") of up to one million tonnes per annum ("tpa"). This strategic growth partnership represents an important new investment in Canadian carbon markets. The features of the CCO—notably its large scale and its long-term fixed-price—represent a global first in compliance markets. This financeable structure helps to de-risk and accelerate private CCS investment by establishing carbon price certainty for Canadian projects.

"With its abundance of natural resources, access to high-quality geological storage, and sophisticated engineering know-how, Canada is the best place in the world to build a CCS industry," said Patrick Charbonneau, President and CEO of Canada Growth Fund Investment Management Inc. ("CGF Investment Management"). "The CGF Investment Management team is pleased to deliver this inaugural transaction in Alberta's carbon market, and we look forward to putting additional capital to work across Canada in the months ahead."

https://www.newswire.ca/news-release...836264045.html