NGIF INDUSTRY GRANTS WELCOMES TIDEWATER MIDSTREAM TO ACCELERATE CLEAN TECHNOLOGY DEVELOPMENT IN NATURAL GAS

OTTAWA, ON (December 9, 2021) NGIF Industry Grants, a division of NGIF Capital Corporation, welcomes Tidewater Midstream and Infrastructure Ltd. as a new participant supporting innovation and clean technology development for the natural gas sector.

Tidewater’s mission is to become the midstreamer of choice by providing creative solutions that ensure optimum flexibility for its customers, resulting in higher returns. Supporting important initiatives in cleantech, particularly in the natural gas and hydrogen sectors, further reflects Tidewater’s commitment to reducing carbon intensity by providing low-carbon fuel solutions.

“Clean technology will play an important role in our environmental stewardship practices, and we are proud to expand our relationship with NGIF,” said Joel Macleod, Chairman and Chief Executive Officer, Tidewater Midstream and Infrastructure Ltd. “Supporting innovative solutions will not only help our industry but also assist in positioning Canada as a leader in clean energy.”

Earlier this year, Tidewater was one of seven limited partners to invest in NGIF Cleantech Ventures’ $50 million equity fund. The Fund’s investments are expected to include technologies to reduce emissions and deliver other environmental benefits in natural gas production, transmission, distribution, storage, and end-use applications, and technologies to advance the production of renewable natural gas and hydrogen.

“We are thrilled to welcome Tidewater to our consortium of strategic investors committed to supporting innovation and cleantech development in the sector,” said John Adams, President and CEO of NGIF Capital Corporation and Managing Partner of NGIF Cleantech Ventures. “I am grateful for their confidence and support of NGIF Industry Grants and NGIF Cleantech Ventures to help support startups from concept to commercialization.”

“It is exciting to see another gas industry leader join NGIF Cleantech Ventures to support cleantech advancement for the benefit of the entire sector,” said Timothy M. Egan, President and CEO of the Canadian Gas Association (CGA) and Chair of NGIF Capital Corporation. “The investments made in clean technology today will support the gas industry of the future and ensure the continued availability of the energy Canadians require for their daily lives.”

Working with NGIF to invest in cleantech innovation to reduce emissions and improve the economic performance of Canada’s natural gas, Tidewater joins other leading energy corporations: Birchcliff Energy Ltd.CSV Midstream Solutions, Canadian Natural Resources LimitedChevron Canada LimitedPerpetual Energy Inc.PETRONAS Energy Canada Ltd.Shell Canada Energy, and Tourmaline Oil Corp. representing the upstream natural gas sector; and ATCO Gas Ltd.Enbridge Gas Inc.FortisBC Energy Inc.Pacific Northern Gas Ltd., and SaskEnergy from the utility sector.


About NGIF Industry Grants
NGIF Industry Grants is a first-of-kind, industry-led grant organization to fund early-stage startups developing solutions to environmental and other challenges facing Canada’s natural gas sector. NGIF Industry Grants develops, demonstrates and de-risks these technology solutions through field trials and pilot projects to drive innovation and support environmental goals in Canada. NGIF Industry Grants’ investment focus is on existing natural gas production, transmission, distribution, storage, and end-use applications, as well as projects that will lead to the expanded production of emerging gaseous fuels like renewable natural gas and hydrogen. The organization has built a portfolio of startups, trusted partnerships with government for co-funding opportunities, and a robust technical evaluation investment model. NGIF Industry Grants is operated by NGIF Capital Corporation.

About NGIF Capital Corporation
NGIF Capital Corporation is a Canadian venture capital (VC) firm offering grant and equity financing for startups that deliver solutions to the environmental and other challenges facing the natural gas sector. NGIF Capital Corporation is unique in how it brings Canada’s energy industry leadership to every investment. Like other VCs, it takes new companies and their ideas from concept to commercialization. Unlike other VCs, NGIF Capital Corporation has strong connections to every part of the gas value chain, from production through to end-use, offering it a means to test, develop, and accelerate the commercial implementation of innovative gas technology wherever it fits in the sector. The model benefits consumers, investors, and Canadian society as a whole. NGIF Capital Corporation operates NGIF Industry Grants (the original Natural Gas Innovation Fund), the NGIF Emissions Testing Centre, and NGIF Cleantech Ventures. NGIF Capital Corporation is wholly owned by CGA Enterprises, a venture of the Canadian Gas Association.

About Tidewater Midstream
Tidewater is traded on the TSX under the symbol “TWM”. Tidewater’s business objective is to build a diversified midstream and infrastructure company in the North American natural gas, natural gas liquids and crude oil, refined product, and renewable space. Its strategy is to profitably grow and create shareholder value through the acquisition and development of oil and gas infrastructure. Tidewater plans to achieve its business objective by providing customers with a full service, vertically integrated value chain, including gas plants, pipelines, railcars, export terminals, storage, downstream facilities, and various renewable initiatives.

About Canadian Gas Association
The Canadian Gas Association (CGA) is the voice of Canada’s gaseous energy delivery industry, including natural gas, renewable natural gas (RNG) and hydrogen. CGA membership includes energy distribution and transmission companies, equipment manufacturers, and suppliers of goods and services to the industry. CGA’s utility members are Canadian-owned and active in eight provinces and one territory. CGA members meet 38 per cent of Canada’s energy needs through a network of over 573,000 kilometres of underground infrastructure. The versatility and resiliency of this infrastructure allows it to deliver an ever-changing gas supply mix to over 7.3 million customer locations representing approximately two-thirds of Canadians. CGA members ensure Canadians get the affordable, reliable, clean gaseous energy they want and need. CGA is also working to constantly improve that gaseous energy offering, by driving forward innovation through the Natural Gas Innovation Fund (NGIF).


Media Information:

Sarah Robinson
Manager, Communications
NGIF Capital Corporation
613-282-1126
srobinson@cga.ca

Tidewater Midstream
info@tidewatermidstream.com

Fund Information:

John Adams
President and CEO, NGIF Capital Corporation
Managing Partner, NGIF Cleantech Ventures
613-748-0057
jadams@cga.ca