TriSummit Utilities Invests in NGIF Cleantech Ventures to Help Achieve Its Commitment to Net Zero Emissions in 2030

Calgary, Alberta--(Newsfile Corp. - April 20, 2022) - TriSummit Utilities Inc. ("TriSummit" or "TSU"), a Calgary-based owner and operator of natural gas utilities and renewable power assets, today announced an investment in NGIF Cleantech Ventures (the "Fund"). TriSummit joins a consortium of strategic limited partners who are involved in various stages of the natural gas value chain and have also invested in NGIF Cleantech Ventures.

This strategic investment will allow TriSummit to preview exciting new energy technologies and have a position in the exciting roster of NGIF Cleantech Ventures' incumbent portfolio companies including Ekona Power, Ionomr Innovations, Ionada, and more.

"The team at NGIF Cleantech Ventures has tremendous experience developing and commercializing clean energy technologies for emission reductions. TriSummit's executive leadership team is confident in NGIF Cleantech Ventures' ability to create transformative value for the natural gas sector and help us meet our energy transition goals," said Jared Green, President and Chief Executive Officer of TriSummit. "We are proud to partner with John and his team to accelerate the adoption of these cutting-edge technologies."

"The model of innovation pioneered by NGIF Cleantech Ventures will provide TriSummit with strong exposure to early-stage clean technology companies," said John Adams, NGIF Cleantech Ventures' Managing Partner. "TriSummit is an important partner with us on our journey to decarbonize the sector and we are looking forward to working with them over the life of the Fund."

About TriSummit Utilities

TSU is a Canadian company with natural gas distribution utilities and renewable power generation assets. TSU serves approximately 133,000 customers across Canada, delivering low carbon energy, safely and reliably.

For more information visit: www.trisummit.ca.

About NGIF Cleantech Ventures

NGIF Cleantech Ventures is a $55 million industry-led venture capital fund that makes equity investments in early-stage startups. The objective of the Fund is to grow cutting-edge clean technology companies into commercial-scale enterprises. The Fund primarily invests in companies that provide solutions that lead to emissions reductions and other environmental benefits. These solutions are typically focused on existing natural gas production, transmission, distribution, storage, and end-use applications, as well as increased production of renewable natural gas and hydrogen.

For more information about NGIF Cleantech Ventures, please visit ngif.ca

Media Information:

TriSummit Utilities Inc.
587 955 3660
communications@trisummit.ca

Media and Fund Information:

John Adams
Managing Partner
NGIF Cleantech Ventures
613-748-0057
jadams@cga.ca

Forward-Looking Information

This news release contains forward-looking statements. When used in this news release, the words "may", "can", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "expect", "project", "opportunity" and similar expressions, as they relate to TriSummit or an affiliate of TriSummit, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, the expected benefits of TriSummit's investment in the Fund, the objective of accelerating and commercializing new technologies, and the anticipated ability of the Fund to contribute to TriSummit's energy transition goals. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect TriSummit's current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in TriSummit's public disclosure documents. Many factors could cause TriSummit's actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release as intended, planned, anticipated, believed, sought, proposed, estimated or expected, and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. TriSummit does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/120621

News Provided by Newsfile Corp.