On July 6, 2017 P Squared Renewables Inc. announced the selection of Borealis GeoPower Inc. as its Qualifying Transaction as defined by the policies of the TSX Venture Exchange.
Subject to the review of the Exchange with regards to the proposed transaction and the completion of a Private Placement to fund the upcoming drilling program, this transaction represents the first acquisition by P Squared Renewables in keeping with our mandate to identify, acquire and develop renewable energy projects that generate above average returns while positioning P Squared Renewables as tomorrow’s utility company.
Borealis GeoPower has spent 11 years bringing two 15 MW GeoPower projects located in British Columbia to the drill-bit ready stage to be followed by phased introduction of heat and power. We are especially excited about the "Geo-Park" phase called Sustainaville which will provide 100% renewable, emissions-free local geothermal energy to cost-effectively substitute for traditional fossil fuel-based commercial heating sources for local businesses such as breweries, bio-mass, green houses, fish farms, neighbourhood district heating and many other uses. Please proceed to the Borealis GeoPower website for more information by clicking on the logo and link above.
We invite you to join us on this journey to create Canada’s newest utility company through the tapping of nature’s most reliable, "always on" yet lowest carbon emitting energy source, Geothermal Power and Heat.