September 23, 2022 (Edmonton Metropolitan Region) – Green Transitions Holding (GTH), a leading European developer of clean energy projects, has announced it has established Varme Energy, which will be headquartered in Edmonton, Alberta, Canada.
Varme will build partnerships with local municipalities and private industry to secure waste supplies that will be used as feedstocks in its waste-to-energy facilities. The proprietary technology will divert waste from landfills, lowering methane emissions, and transforming waste into a usable energy source that can be transferred back to the grid.
This is the first expansion of Green Transition Holding outside of Europe. Varme has a portfolio of over $600 million in planned capital projects in active development in Alberta.
The proposed projects will also integrate carbon capture and storage technologies in order to further reduce carbon emissions.
“Green Transition Holding has been thrilled at the traction of our first overseas expansion, we see tremendous opportunity for our energy from waste technology in the Canadian marketplace. There is a strong cultural alignment between Norwegian and Canadian business that has helped drive Varme forward in a positive way.” said Andreas Karlsen, Head of Energy-from-Waste, Green Transition Holding.
“Varme has established our headquarters in Edmonton because of the city’s position as ground zero for the Canadian energy transition. The scale and sophistication of our Industrial Heartland, coupled with the best CCS cap rock in the world make Edmonton an ideal sandbox for Varme. Our current corporate objective is to deploy over $600M in capital to a portfolio of 3 facilities in Alberta,” said Sean Collins, CEO of Varme Energy.
“This exciting announcement from Green Transition Holdings underscores the strong value proposition offered in Alberta’s Industrial Heartland (AIH) for companies looking to develop value-add energy projects. The industrial cluster benefits, coupled with proximity to municipal waste sources, make Alberta and AIH an attractive location for waste-to-energy projects global companies,” says Mark Plamondon, Executive Director of Alberta’s Industrial Heartland Association.
“The circular economy proposed by Varme Energy is a great example of putting our waste to work. This innovative clean energy project is a unique, high-impact investment that creates high-quality local jobs and supports economic diversification while contributing to the decarbonization of Alberta’s energy mix,” says Rick Christiaanse, CEO of Invest Alberta.
“This exciting new expansion further positions the Edmonton region as a smart place to invest in clean tech and renewable energy. More and more companies are taking advantage of the region’s expertise and young, educated, talent pool, and we look forward to seeing more growth as leaders in Canada’s energy transition and a low-carbon future,” says Malcolm Bruce, CEO of Edmonton Global.
About Green Transition Holding
Green Transition Holding (GTH) is an industrial and environmental technology company. Our mission is to develop and commercialize innovative technologies that improve the sustainability of industries. We aim to do this through reducing emissions, improving efficiency, and minimizing the environmental footprint of these operations. GTH was listed on the NOTC list in December 2020 and holds the ticker code GTH.
Varme is changing the way that we deal with waste in Canada. We are a Canadian incorporated subsidiary of Green Transition Holdings and the first expansion outside of Europe for the company. We envision a future where waste does not end up in a landfill, but is instead converted into useful energy and the CO2 is captured and stored permanently underground.
About Edmonton Global:
The purpose of Edmonton Global is to radically transform and grow the economy of the Edmonton Metropolitan Region. We are a not-for-profit corporation founded by 15 municipalities that make up the Edmonton Metropolitan Region. Our focus is attracting foreign investment, helping regional businesses export with the world, enhancing our region’s global competitiveness, and bringing our region together with a unified voice to attract the attention and interest of investors the world over.
About Invest Alberta
Invest Alberta is dedicated to investment attraction, with a mandate to engage the world and provide high-end tailored support to companies, investors, and major new projects. With team members in key markets around the world, Invest Alberta works to break down barriers so investors and businesses can start up, scale up, and succeed without limits.
About Alberta’s Industrial Heartland
Alberta’s Industrial Heartland is one of the world’s most attractive locations for chemical, petrochemical, oil, and gas investment. As Canada’s largest hydrocarbon processing region, we’re making history enabling diversification at the intersection of economic resiliency and environmental leadership. With $45+ billion in existing capital investment and more than 40 companies, we are providing fuels, fertilizers, power, petrochemicals and more to provincial and global consumers.
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