BOREALIS GEOPOWER INC. ANNOUNCES ADDITIONAL BC GEOTHERMAL PERMIT AND SEARCH FOR A STRATEGIC OPERATING PARTNER
Borealis GeoPower Inc. (“Borealis”) is pleased to announce that the BC Ministry of Energy, Mines and Petroleum Resources has been authorized to enter into an agreement to issue an additional geothermal permit to Borealis under the Geothermal Resources Act. This permit is adjacent, and in addition, to a permit granted to Borealis in 2010. Borealis confirms that as of today it has satisfied all conditions of the agreement and extends thanks to the BC Government for this opportunity.
This new permit gives Borealis the exclusive right to apply to drill wells for geothermal purposes at a location near the Village of Valemount. These wells will initially energize the “Sustainaville” project, a geothermal micro-electricity and renewable heat development. A commercial sized geothermal power plant will follow.
A strategic partner is now sought to assist with the development and operation of the geothermal field as well as the planned power and heat plants. Ms. Thompson, President and CEO of Borealis, stated, “British Columbia has world class, high temperature geothermal resources and an enviable legal and regulatory framework. We invite interest from global geothermal companies to help usher in a new industry in Canada, a country with a long history in the natural resources sector and a commitment to renewable energy.”
For further information, please contact:
Alison Thompson, CEO & President, Borealis Geopower Inc.