Borealis Geopower and Sponsor Energy Capital announce their collaboration to finance exploration and development of geothermal resources for power production

Geothermal (or earth heat) energy is a clean, renewable source of both power and heat. It is proven technology that provides baseload (24 hours a day, 365 days a year) power, has low to no emissions and one of the smallest environmental footprints of any power supply. It can be a practical and cost - effective energy solution for an entire generation of Canadians. With long term power agreements it offers long - term stable revenues over the next 20-30 years.

Borealis is currently developing  geothermal power projects in Canoe Reach, south of Valemount BC and Lakelse Lake, south of Terrace, BC, with the Kitselas First Nation. We are currently moving forward with financing of our resource confirmation and power project development and we Borealis GeoPower (BGP) and Sponsor Energy Capital (SEC) are pleased to announce their collaboration to finance exploration and development of geothermal resources for power production.

SEC's approach to project financing is to source funding appropriate for the purpose with requisite returns. SEC proposes to finance the proving of highly prospective geothermal resources for the purpose of power production. BGP has two geothermal projects in development in British Columbia, Canoe Reach and Lakelse, each of which meets the criteria of being highly prospective.