Media Advisory: TC Energy eyes Crossfield site for low-carbon hydrogen production hub
CALGARY, Alberta, April 26, 2022 (GLOBE NEWSWIRE) -- Media Advisory – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) together with the insight and involvement of our partner Nikola Corporation (Nasdaq: NKLA), is evaluating its plan for a hydrogen production hub on 140 acres in Crossfield, Alberta, where the Company operates a natural gas storage facility. The plan will be highlighted during the first-ever Canadian Hydrogen Convention in Edmonton, Alberta. TC Energy expects a final investment decision by the end of 2023; the project will be subject to customary regulatory approvals.
“At TC Energy, we are energy problem solvers,” said Corey Hessen, Executive Vice President, and President, Power, Storage & Origination. “With our focus on creating low-carbon solutions for businesses, we’ve identified our Crossfield site as a hub to produce and distribute hydrogen to serve long-haul transportation, power generation, large industrials and heating customers across the United States and Canada.”
Nikola, based in Phoenix, Ariz., and a global leader in zero-emissions transportation and energy infrastructure solutions, will be the hub’s anchor customer for its long-haul fuel cell electric vehicles. The southern portion of Alberta is a key transportation corridor for long-haul trucks. TC Energy and Nikola previously announced a joint development agreement with the aim to locate and build hydrogen production hubs in North America.
The proposed hub would produce an estimated 60 tonnes of hydrogen per day, with the capacity to increase to 150 tonnes per day in the future. To produce hydrogen, natural gas is reacted in a chemical plant to separate hydrogen and carbon dioxide. The CO2 generated during this process is then captured and sequestered, lowering the emissions to meet clean-energy standards.
TC Energy’s Crossfield Gas Storage facility, 50 km (31 miles) north of Calgary, holds 68 billion cubic feet of natural gas.
About TC Energy
We’re a team of 7,000+ energy problem solvers working to move, generate and store the energy North America relies on. Today, we’re taking action to make that energy more sustainable and more secure. We’re innovating and modernizing to reduce emissions from our business. And, we’re delivering new energy solutions – from natural gas and renewables to carbon capture and hydrogen – to help other businesses and industries decarbonize too.
TC Energy’s common shares trade on the Toronto (TSX) and New York (NYSE) stock exchanges under the symbol TRP. To learn more, visit us at TCEnergy.com.
This release contains certain information that is forward-looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as "anticipate", "expect", "believe", "may", "will", "should", "estimate", "intend" or other similar words). Forward-looking statements in this document are intended to provide TC Energy security holders and potential investors with information regarding TC Energy and its subsidiaries, including management's assessment of TC Energy's and its subsidiaries' future plans and financial outlook. All forward-looking statements reflect TC Energy's beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. As actual results could vary significantly from the forward-looking information, you should not put undue reliance on forward-looking information and should not use future-oriented information or financial outlooks for anything other than their intended purpose. We do not update our forward-looking information due to new information or future events, unless we are required to by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to the most recent Quarterly Report to Shareholders and Annual Report filed under TC Energy’s profile on SEDAR at www.sedar.com and with the U.S. Securities and Exchange Commission at www.sec.gov.
Jaimie Harding / Jennifer Link
403-920-7859 or 800-608-7859
Investor & Analyst Inquiries:
Gavin Wylie / Hunter Mau
403-920-7911 or 800-361-6522
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d7e93977-cf1b-4f3c-8fd5-11b4e27658db
A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5e7b3710-a5dc-4aaf-b7d2-1c3639d36910
PDF available: http://ml.globenewswire.com/Resource/Download/8d959005-34ed-4677-9048-4181ae7a5654