It might be surprising that Recover’s diesel can be qualified as ‘low carbon,’ as they are recovering a fossil fuel, but Stan explains that they will be avoiding hundreds of thousands of tonnes of GHG emissions: “Drilling waste contains hydrocarbons that biodegrade and turn into greenhouse gasses. Every tonne of drilling waste that biodegrades creates approximately 1.5 tonnes of greenhouse gasses. At just the first US project, we will avoid more than 350,000 tonnes of GHG emissions per year. That’s equivalent to avoiding the emissions from 70,000 cars per year and we can avoid that on every Recover project.” “In fact, the carbon intensity of our transportation fuel is lower than that of most all other biofuels facilities being built in North America.” Moving forward, the company is also excited about the future simply because of the positive narrative that has started being told about energy development. Stan credits that change in narrative to two things – the war in Ukraine, and the rising concern about energy supply. “The war in Ukraine has taught the world that it matters where energy comes from. From a North American standpoint, this has really put local oil and natural gas resources to the forefront of future development.” When it comes to concerns about energy supply, Stan believes that is a result of “the combination of underinvestment in fossil fuels” and “the challenges of the Energy Transition.” “Today, people are more convinced that fossil fuels will be part of the energy mix for the foreseeable future,” he says. “We are being bombarded with messaging that we should be concerned with the emissions associated with energy development. So policy makers should be reflecting that in policy by finding ways to reduce those emissions. Now we’re finally seeing some political leaders are talking about decarbonisation instead of prohibition.” As that talk intensifies, Stan says that Recover is well positioned as a company that can offer a solution. And when he takes stock of what they have already accomplished to date, he highlights the following: “We are a waste-to-energy company that has a working commercial facility and we’re focused on a waste stream that is landfilled in abundance,” he says. “We have one of the ‘greenest’ technologies in the waste-to-energy peer group and supportive sponsors in Azimuth Capital Management, the Business Development Bank of Canada.’” “We’re now well poised to launch a growth phase at Recover and that’s exactly what we’re going to do,” he concludes. “We have a great story to tell and we’re going to continue telling it.” FEBRUARY 2024 Recover’s Recycling Facility
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