Dec. 14, 2023

CALGARY, AB, Dec. 14, 2023 /CNW/ - Tidewater Renewables Ltd. ("Tidewater Renewables" or the "Corporation") (TSX: LCFS) is pleased to announce that Rimrock Renewables Limited Partnership, a partnership formed between Tidewater Renewables and Rimrock RNG Inc., has received its Environmental Protection and Enhancement Act ("EPEA") approval from the Government of Alberta's Ministry of Environment and Protected Areas for the construction and operation of the Rimrock Biodigester Natural Gas Facility, located in Foothills County, near the Town of High River, Alberta (the "RNG Facility").

"This approval, on the heels of our previously announced commencement of commercial operations at our Renewable Diesel Facility in Prince George, British Columbia, demonstrates Tidewater Renewables' continued commitment to pursue projects that provide clean energy today. We appreciate the support from the Alberta Government and Foothills County as well as the feedback we've received during our consultation and engagement with local stakeholders. This EPEA approval is an important milestone, and we will continue to progress the commercial and regulatory processes on the path to the final investment decision," said Rob Colcleugh, Chairman and CEO.

RNG Facility

The proposed RNG Facility will be an "on-farm" facility, co-located with the feedlot owned by Rimrock Cattle Company.  Located within Foothills County, approximately 5.5 km west of the Town of High River, the proposed RNG Facility will occupy approximately 40 ha southeast of the intersection of Coal Trail (Township Road 191) and Meridian Street (Range Road 10).

The Rimrock Cattle Company feedlot will be the primary source of feedstock (livestock manure) for the RNG Facility where the feedstock will be anaerobically digested to capture odorous gases and produce renewable natural gas ("RNG") which will be injected into a low-pressure distribution pipeline to serve the local community.

The RNG Facility is expected to produce enough RNG to heat ~6,000 homes per year (450,000 Gigajoules of RNG per year) in Foothills County. RNG produced will be used in place of natural gas, reducing reliance on fossil fuels.

A final investment decision by the Board of Directors of Tidewater Renewables and the commencement of construction of the RNG Facility remains subject to municipal land use approvals, commercial arrangements, and final engineering and cost estimates.

For additional information, please see the full press release.

About Tidewater Renewables

Tidewater Renewables is traded on the TSX under the symbol "LCFS". Tidewater Renewables is a renewable fuel producer and energy transition leader.  Tidewater Renewables provides alternative low-carbon and clean-fuel solutions at scale through commercially proven technology and a dedicated focus on making change happen. In addition to Canada's first renewable diesel facility, Tidewater Renewables is invested in renewable natural gas and renewable hydrogen, all of which offer an alternative to fossil fuels.  Tidewater Renewables has invested in all aspects of the value chain as a vertically integrated renewable and profitable energy company, led by a highly experienced team and backed by significant government support.  With a competitive advantage, a clear purpose, and a genuine commitment to a more sustainable future, Tidewater Renewables turns waste into value and creates the clean energy our world needs today.  Additional information relating to Tidewater Renewables is available on SEDAR+ at www.sedarplus.com and at www.tidewater-renewables.com.

For further information:

Robert Colcleugh
Chairman and CEO
Tidewater Renewables Ltd.
Phone: 587.475.0210
Email: rcolcleugh@tidewatermidstream.com

Ray Kwan
Tidewater Renewables Ltd.
Phone: 587.776.0042
Email: rkwan@tidewater-renewables.com