Saint-Félicien Initiative Consistent with Resolute's Leadership in Sustainable Development
Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP) has just announced that it, along with Serres Toundra Inc, has entered into a definitive agreement with CO2 Solutions Inc. (TSX-V: CST) to deploy leading enzyme-enabled carbon capture technology at Resolute's Saint-Félicien pulp mill.
The C$7.4 million project involves the capture of up to 30 metric tons of CO2/day (tpd) from Resolute's softwood kraft pulp mill, the majority of the CO2 being transported to Serres Toundra's neighboring world-class vegetable greenhouse. By improving the performance of the greenhouse, while at the same time reducing the carbon emissions of the pulp mill, the reuse of the captured CO2 will provide tangible benefits to both Resolute and Serres Toundra.
"We are pleased to host this innovative, first-of-its-kind project in the pulp and paper industry," stated Richard Garneau, president and chief executive officer of Resolute Forest Products. "Through our participation, we will reduce the carbon emissions from our Saint-Félicien mill, as well as support the scale-up of a low-cost carbon capture technology with the potential for broader deployment."
"This initiative is consistent with our values and our commitment to balancing the three pillars of our sustainability strategy – environmental, social and economic – which is helping us to become not only a more efficient company, but a better employer, a stronger partner for our customers, and more deeply engaged in the communities in which we live and work," added Mr. Garneau.
Formed in 2014 as a partnership between Resolute, the city of Saint-Félicien and local investors, Serres Toundra is a 34-hectare greenhouse complex located adjacent to Resolute's mill. This C$100 million project will, when fully operational in 2019, be the largest greenhouse in Quebec, produce vegetables 12 months a year and contribute 400 jobs to the Lac-Saint-Jean region.
About Resolute Forest Products
Resolute Forest Products is a global leader in the forest products industry with a diverse range of products, including market pulp, wood products, tissue, newsprint and specialty papers. The company owns or operates over 40 pulp, paper, tissue and wood products facilities in the United States, Canada and South Korea, as well as power generation assets in Canada and the United States. Marketing its products in close to 80 countries, Resolute has third-party certified 100% of its managed woodlands to internationally recognized sustainable forest management standards. The shares of Resolute Forest Products trade under the stock symbol RFP on both the New York Stock Exchange and the Toronto Stock Exchange.