Genalta I LP

Stonebridge Financial Corporation (“Stonebridge”) is pleased to announce the closing of a $30.0 million, long-term debt facility for the construction and operation of various waste energy-to-power (“WEP”) projects in Alberta (the “Portfolo”). Approximately $19 million was drawn on closing, leaving an additional $11 million available for future project funding.

The Portfolio is owned by Genalta I Limited Partnership (the “Borrower”), which is indirectly owned by Genalta Power Inc. At present, Genalta has executed energy service agreements for the development, construction and operation of WEP Projects at selected power generating sites of Shell Canada Energy, Husky Oil Operations Limited, and Pengrowth Energy Corporation. The Portfolio is currently comprised of 4 operating sites in Alberta.

Stonebridge arranged the project financing facility, with Alberta Treasury Branches as sole lender.

Cam Di Giorgio, Vice President, Structured and Project Financing at Stonebridge commented, “We are quite proud of successfully arranging and structuring this debt facility for Genalta, that provides the typical project financing benefits for Genalta Power, yet offers the flexibility and capacity to accommodate the growing nature of Genalta’s business”.

This is another significant step in a series of financings that will strengthen the capitalization of Genalta Power. This specific financing was structured as project financing against a fully built and operational group of power projects, with the balance of funds earmarked to build out an additional 27 MW of generation facilities” said Graham Illingworth, CEO of Genalta Power. “Completing this round of the financing is a key step in funding our growth and will allow Genalta to pursue further project level financing options”.

Stonebridge Financial Corporation is a specialized financial services company with a proven reputation and expertise in arranging and structuring debt financings for syndication in the Canadian institutional marketplace, with a focus in the energy, infrastructure, and health care sectors. Stonebridge has arranged and syndicated over $2.5 billion of project debt financing.

Genalta Power Inc. is a Canadian-based, clean electrical power-generating company that is leading the way in using waste energy to power applications. As a client-oriented solutions provider, Genalta Power is able to capture waste energy from sources such as waste heat, pressure and gas, and to create cost-effective and environmentally responsible electricity. Genalta Power is focused on optimizing site efficiencies and new energy-transfer technologies in the one to ten megawatt market.