Mariah Energy Corp. - The Impact of the Government of Canada's $1 Billion Investment in Climate Change on Clean Energy Providers
CALGARY, Aug. 21 - On August 12th the Government of Canada
announced its plan to invest $1 billion to address climate change by
encouraging, and complimenting actions of individuals, industry, business,
governments and communities to reduce greenhouse gas emissions. Mariah Energy
Corp. believes that this announcement has significant impacts on industry
leaders in emission reduction technologies.
Mariah Energy has developed and commercialized the Heat PlusPower(TM)
system, a micro-cogeneration unit that produces both heat and power on-site,
at the customer's facility. This system significantly reduces CO2 and NOx
greenhouse gas emissions, as compared to traditional forms of generation, and
is up to, and over 85% energy efficient. The Combined Heat and Power (CHP)
technology has the potential to reduce the dependence on remote power plants
and boilers, which are less energy efficient, while at the same time saving
customers up to 25% on their utility costs. This innovative technology has won
both the 2003 Emerald Award for environmental achievement in small business
and APEGGA Award for project achievement.
Areas of the investment plan that Mariah's technology can potentially
benefit from include:
- Industry and Business - Energy-Efficient Buildings ($81.6 million)
- Technology and Innovation - advanced end-use efficiency technology,
decentralized energy production ($135 million)
- Governments and Communities - Aboriginal and Northern Community Action
($30.7 million)
The investment in industry and business will encourage both
energy-efficiency retrofits of existing commercial buildings, and the
commercial buildings sector to make greater use of renewable energy heating
and cooling systems in buildings. This investment gives building operators the
incentive to invest in technologies such as the Heat PlusPower system.
Mariah's distributed generation technology can help facilities that require
heating in the form of domestic hot water throughout the year can reach
emission reduction targets and cut operating costs. Mariah has experience in
retrofits including the installation of two 60/30 Heat PlusPower systems at
the SAIT college swimming pool and recreation centre in Calgary, Alberta.
These systems provide heat and power for the pool, shower and banquet
facilities.
Technologies and innovations that can be used in the industrial,
commercial and community sector, as well as decentralized energy production
techniques that run on renewable sources of energy such as landfill gas, will
also provide investment opportunities. The Heat PlusPower system can be run on
a variety of fuels, one being landfill gas. With the use of a digester, the
methane from landfills or manure creates a negative value fuel for the
production of heat and power.
The Aboriginal and Northern Community Action Program will assist
Aboriginal and northern communities in reducing their emissions. Mariah Energy
is actively working with northern communities to implement the Heat PlusPower
technology. Two 60/30 systems were installed in Inuvik, NWT September 2002 to
provide heat and power to the Midnight Sun Recreation Centre.
The high energy costs experienced in northern communities makes the cost
savings of the system even greater.
Mariah Energy plans to continue working in the three areas highlighted in
the Government's initiative to increase the number of installations of the
Heat PlusPower system in commercial, agricultural and landfill applications,
as well as working with different communities such as those in the Canadian
North to increase accessibility of distributed generation. "Continued Canadian
leadership in Climate Change technology will require consistent and
predictable long term policy framework. This funding announcement will provide
direction for Mariah's management, staff and shareholders," states Mariah
Energy's president and CEO Paul Liddy. |
