Altius and Apollo Joint Venture Commits Additional US$25 Million Investment Into Tri Global Energy
Great Bay Renewables Extends Additional Renewable Royalty Financing to Tri Global Energy
This follow-on investment in TGE is the first investment made by Great Bay following the recently announced joint venture between certain funds managed by affiliates of
The additional investment into TGE is an extension of the current
“Today Tri Global Energy is one of the top five developers of wind energy in the
“We also really believe the future of this country and around the world is renewable energy. And it’s not a question of whether or when we’re going to get there. We’re already here,” Billingsley said.
Great Bay was advised on this transaction by an advisory team from
About Great Bay Renewables
Great Bay provides capital to the renewable energy sector in exchange for royalties in renewable energy generating facilities at all stages in their life cycle. Great Bay’s management team has extensive experience in renewable energy development, financing and operations across a range of renewable technologies located throughout
About Tri Global Energy
Tri Global Energy (TGE) is an independent renewable energy originator and developer in the
Founded in 2009, Tri Global Energy’s mission is to improve communities through local economic development generated by originating and commercializing renewable energy projects. The company currently develops and owns utility-scale wind and solar energy projects in
Altius’s strategy is to create per share growth through a diversified portfolio of royalty assets that relate to long life, high margin operations. This strategy further provides shareholders with exposures that are well aligned with sustainability-related global growth trends including the electricity generation transition from fossil fuel to renewables, transportation electrification, reduced emissions from steelmaking and increasing agricultural yield requirements. These each hold the potential to cause increased demand for many of Altius’s commodity exposures including copper, renewable based electricity, several key battery metals (lithium, nickel and cobalt), clean iron ore, and potash. Altius has 41,464,462 common shares issued and outstanding that are listed on Canada’s
This news release contains forward-looking information. The statements are based on reasonable assumptions and expectations of management and Altius provides no assurance that actual events will meet management's expectations. In certain cases, forward-looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Although Altius believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those projected. Readers should not place undue reliance on forward-looking information. Altius does not undertake to update any forward-looking information contained herein except in accordance with securities regulation.