MISSISSAUGA, ON, Oct. 25, 2021 /CNW/ - Bird Construction Inc.
("Bird") is pleased to announce it has entered into an Alliance
Agreement with the renewable energy company, Noventa Energy
Partners, to jointly pursue opportunities for wastewater energy
transfer ("WET") projects across Canada, with Bird acting as the exclusive
constructor. The WET projects will deploy the Huber ThermWin®️
System, for which Noventa Energy is the exclusive distributor in
Canada and the United States. Currently developing
opportunities represent over $500
million and 150MW of energy.
The Alliance relationship commences with the successful
financial close of the recently announced Toronto Western Hospital
WET project that is valued at approximately $42.9 million. This is the world's largest raw
wastewater energy transfer project and once complete it will
provide over 19MW of low-carbon thermal energy to the hospital
facility, which is approximately 90 percent of the hospital's
heating and cooling requirements. Over the next 30 years, the
hospital will see a cumulative reduction in greenhouse gas
emissions of more than 250,000 tonnes —displacing 1.35 million
cubic meters of natural gas, 143,000 megawatt hours of electricity
consumption, and 1.4 million cubic meters in water usage, the
equivalent of 560 Olympic-sized swimming pools.
The milestone project for Toronto Western Hospital encompasses
the construction of an underground vault which will house 16 Huber
wastewater heat exchangers and 5 chiller/heat pumps, the excavation
of a 38-metre-deep wet well that will be connected to the sewer
main, and the retrofit of the hospital's existing heating steam
system to a low-temperature, hot water system and provision of
chilled water cooling.
The Toronto Western project has been funded with the support of
the Canada Infrastructure Bank, VanCity Community Investment Bank,
and a grant from Canada's Low
Carbon Economy Fund, a $2 billion
fund to support clean growth and reduced greenhouse gas
emissions.
"Wastewater is a relatively untapped renewable energy source
that is underutilized in North
America, and working closely with our partner, we are
excited to bring this valuable, sustainable solution to
institutions across Canada," said
Teri McKibbon, President and CEO of
Bird. "I am particularly proud of Bird's participation in this
inaugural project, and recognize the substantial opportunity
created through the Alliance Agreement, as well as the positive
alignment of this innovation with a lower carbon future. We
continue to see value building through our focus on collaboration
and leveraging our diverse and innovative offerings, both of which
contribute to continued growth and consistent, long-term
shareholder value."
This press release contains forward-looking information (as
defined in applicable Canadian securities legislation) that
involves known and unknown risks, uncertainties and other factors
which may cause actual results, performance, or achievements to
materially differ from those expressed or implied by the
forward-looking information.
The Toronto Stock Exchange does not accept responsibility for
the adequacy or accuracy of this release.
For further information contact:
T.L. McKibbon, President & CEO or
W.R. Gingrich, CFO
Bird Construction Inc.
5700 Explorer Drive, Suite 400
Mississauga, ON L4W 0C6
Phone: (905) 602-4122
About Bird Construction
Bird (TSX: BDT)
is a leading Canadian construction company operating from
coast-to-coast and servicing all of Canada's major markets. Bird provides a
comprehensive range of construction services from new construction
for industrial, commercial, institutional, and civil infrastructure
markets; to industrial maintenance, repair and operations services,
heavy civil construction, and mine support services; as well as
vertical infrastructure including, electrical, mechanical, and
specialty trades. For over 100 years, Bird has been a
people-focused company with an unwavering commitment to safety and
a high level of service that provides long-term value for all
stakeholders. www.bird.ca
SOURCE Bird Construction Inc.