Subject: FINANCING AGREEMENTS
Baseload Power Corporation receives $3.5 million in funding from Natural Resource Canada for electric vehicle charging network
BURLINGTON, Ontario, June 30, 2022 (GLOBE NEWSWIRE) -- Baseload Power Corp. (Baseload) is pleased to announce its receipt of $3.5 million in funding through Natural Resources Canada's (NRCan) Zero-Emission Vehicle Infrastructure Program to support the growth of its electric vehicle (EV) charging network, AURA EV Charging (AURA), across Canada. Baseload and NRCan announced the funding partnership today at The Burlington Centre, the location of Baseload's most recent operationalized EV charging station.
With the support of NRCan's funding, Baseload's AURA network will increase by 67 fast EV chargers and 31 medium speed level-2 speed chargers to be installed and operational throughout Ontario and Quebec by the end of this year. The funding was received through NRCan's Zero-Emission Vehicle Infrastructure Program (ZEVIP), which is intended to support initiatives that are helping Canada meet its net-zero by 2050 commitment.
"Together with the Government of Canada, we are making the necessary investments in EV charging infrastructure to help secure a sustainable future for Canada," said Jonathan Sandler, President of Baseload. "The electrification of transportation is essential to ensuring that we steward our planet well, leaving it in better shape than how we found it for our future generations."
"We're making electric vehicles more affordable and charging more accessible where Canadians live, work and play," said the Honourable Jonathan Wilkinson, Minister of Natural Resources. "Investing in more EV chargers, like the ones announced today in Ontario, will put more Canadians in the driver's seat on the road to a net-zero future and help achieve our climate goals."
"Making zero-emission vehicles more affordable, and investing in charging stations and infrastructure, will mean cleaner air and a healthier environment for future generations. Our government will continue to make innovative investments to fight climate change in Burlington and across the country," said the Honourable Karina Gould, Minister of Families, Children and Social Development, and Member of Parliament for Burlington.
AURA offers turnkey EV charging solutions covering multi-level charging speeds for commercial, workplace, fleet and home applications under a variety of business arrangements. The AURA network is located at premier retail, workplace, and commercial properties across Ontario, Quebec and British Columbia. Aura uses FLO's electric vehicle charger operating system and the design-build expertise of Smith & Long Ltd. to provide best-in-class EV charging reliability.
"We are very pleased to support AURA and Baseload Power in this major deployment," said Louis Tremblay, FLO President and CEO of FLO. "FLO's expansion across principal locations in Canada, particularly in Ontario via the AURA network, has been key in the network's overall growth, providing EV drivers with the service that they expect and deserve."
AURA's fast EV chargers are located at commercial properties including those owned by RioCan and co-owned by RioCan and KingSett Capital. "We are proud to be making this announcement at The Burlington Centre and are excited to be working with co-owners RioCan and KingSett who are both leading Canadian real estate companies that share our enthusiasm for promoting EV adoption," said Paul Merkur, Baseload's Executive VP.
"As community stewards and a leader in the Canadian real estate industry, we strive to bring sustainable options to the communities in which we operate. We are excited by this significant step forward in increasing the number of EV charging stations in our portfolio," said Oliver Harrison, RioCan's Senior Vice President, Operations.
"This important initiative with Baseload and RioCan aligns perfectly with KingSett's commitment to driving progress on climate change and providing our stakeholders with greater access to clean transportation charging solutions," said Theresa Warnaar, KingSett's Senior Vice President, Retail & Asset Resilience.
Baseload's core focus is on developing and building electric vehicle charging, renewable energy and energy storage infrastructure. Baseload will continue to lead and invest to meet the future needs of e-mobility by expanding its AURA network across Canada. AURA's future plans include providing complementary services, such as the delivery of 100% renewable electricity to all AURA users on the road, at work and at home and the implementation of innovative grid services to help manage the significant impact EVs will have on the electricity grid.
About Baseload Power
Baseload Power is a values-driven company that collaborates with electricity users, landowners, utilities, stakeholders, and partners to build sustainable electricity infrastructure that benefits individuals, companies, communities and the world. Through the development, construction, ownership and management of sustainable electricity assets including wind and solar generation projects, energy storage solutions, and AURA EV CHARGING, a network of best-in-class electric vehicle charging stations, we are helping to accelerate the transition to a low-carbon economy and a more environmentally conscious future. The principals of Baseload have been directly responsible for developing over 5% of all operating renewable energy projects in Ontario, Canada and Baseload currently has a portfolio of over 2 GWs of energy storage and renewable energy combined with energy storage projects in development across Canada. The company's AURA network includes 20 locations that will offer fast, direct-current, EV charging services across Ontario and Quebec this year with another 20 locations to be built in 2023.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/00720913-9945-485f-ae45-9914cbbfd2c9
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