Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate Change
• Environmental Sustainability
• Renewable Energy

Environmental Achievements

• Received US and Canadian patents for renewable diesel technology.
• Developed a process to reduce emissions and recover more waste stream during production.
• Utilizes waste materials (landfill waste, tires, plastics, wood shavings, paper products) to produce renewable fuels, reducing reliance on petroleum.

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Significant capital investment required for commercial production.
• Fluctuation in renewable fuel prices.
• Risks associated with refining operations (equipment failure, environmental pollution).
• COVID-19 pandemic temporarily paused operations.
• Dependence on management expertise.
• No history of revenue or dividends.
• Conflicts of interest among directors and officers.

Mitigation Strategies

• Actively seeking funding through equity financing.
• Making improvements to the refinery design and operation to increase production efficiency.
• Implementing safety precautions to minimize risks.
• Monitoring operations to ensure adequate liquidity and capital.
• Taking precautions to minimize the spread of COVID-19.
• Directors declare and refrain from voting on matters with conflicts of interest.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Agreement with Canadian Pacific Railway for supply of railway ties as feedstock.

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Fluctuation in renewable fuel prices
• Changes in government regulations

Opportunities

• Growing demand for renewable fuels

Reporting Standards

Frameworks Used: IFRS

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Goal 7 (Affordable and Clean Energy)
• Goal 9 (Industry, Innovation, and Infrastructure)
• Goal 12 (Responsible Consumption and Production)
• Goal 13 (Climate Action)

The company's renewable diesel production contributes to these goals by reducing reliance on fossil fuels, promoting sustainable waste management, and mitigating climate change.

Sustainable Products & Innovation

• Renewable kerosene, highway diesel, and naphtha

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Renewable Energy
• Waste Management
• Greenhouse Gas Emissions Reduction

Environmental Achievements

• Developed technology to refine waste into renewable diesel.
• Implemented electric heating system to increase biomass feedstock percentage, production, and renewable content while reducing sulfur content.

Social Achievements

• Issued incentive stock options to employees, directors, and consultants.
• Entered into a research agreement with the University of Calgary for desulfurization technology.

Governance Achievements

• Obtained approval to delay royalty payments.
• Received US and Canadian patents for waste-to-renewable diesel technology.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic caused temporary production shutdown.
• Delays in commercialization due to modifications and upgrades.
• Need to finalize desulfurization process to meet national specifications.

Mitigation Strategies

• Used shutdown period to make improvements to the plant.
• Implemented new electric heating system and other upgrades.
• Working with University of Calgary to finalize desulfurization process.

Supply Chain Management

Climate-Related Risks & Opportunities

Opportunities

• Growing demand for renewable fuels.

Reporting Standards

Frameworks Used: IFRS

UN Sustainable Development Goals

• SDG 7 (Affordable and Clean Energy)
• SDG 9 (Industry, Innovation and Infrastructure)
• SDG 13 (Climate Action)

The company's technology contributes to these goals by reducing reliance on fossil fuels, promoting sustainable waste management, and mitigating greenhouse gas emissions.

Sustainable Products & Innovation

• Renewable diesel fuel

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Producing high-quality fuels with low input costs and no harmful emissions or GHGs
• Actively reducing emissions & GHGs
• Process consumes waste destined for landfill where it would emit CO2 & methane

Social Achievements

• Commitment to a robust HSE system that protects our team members, stakeholders, facilities and the natural environment.
• Experienced, Right-Fit Leadership Team

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Historical plugging and coking (particulate) issues at Aldersyde Facility
• Aldersyde Phase II temporarily paused due to current market inflationary pressures

Mitigation Strategies

• System analysis and feedback leads to process modifications and product quality improvements
• Facility process modifications in progress – anticipate product quality improvements and increased flow rates

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• High-quality fuels

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Achieved proof of concept for wood biomass at demonstration facility; actively reducing emissions & GHGs; proprietary technology produces high-quality fuels with no harmful emissions

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Opportunities for strategic partnerships with waste suppliers

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Potential carbon credit upside

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• High-quality fuels

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Waste-to-fuel technology
• Sustainable energy transition
• Environmental impact minimization

Climate Goals & Targets

Environmental Challenges

• Decommissioning of prior facility in Aldersyde, Alberta

Mitigation Strategies

• Fabrication of R&D facility in Aldersyde

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Waste-to-fuel
• Environmental sustainability
• Renewable energy

Environmental Achievements

• Not disclosed

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Accumulated losses of $121 million as at April 30, 2024 and generated losses of $12 million for the year ended April 30, 2024.
• Requires additional capital to fund its own costs and corporate activities over the next year and beyond, and to fund payments of short-term indebtedness as they become due and otherwise fund possible working capital deficiency.
• Has not reached planned commercial operations and its ability to continue as a going concern is dependent on its ability to generate revenue and positive cash flow from operating activities, and its ability to obtain additional financing to fund the cost of projects and other corporate activities.

Mitigation Strategies

• Exploring alternatives to generate additional financing, which may include raising additional equity and/or debt or entering into strategic partnerships or other agreements.
• Focusing on the Carseland Facility through the Carseland LP.
• Seeking government grants and tax credits (Alberta Innovates grant, Scientific Research and Experimental Development Program (SR&ED) program, BC Low Carbon Fuel Standard, NRCAN Strategic Investment Fund, Alberta Petrochemicals Incentive Program (APIP)).
• Utilizing limited partnerships to attract third-party investors and financing.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: IFRS

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Bio-SynDiesel®

Awards & Recognition

• Not disclosed