EverWind has successfully completed and submitted the Clean H₂ Investment Tax Credit (CH ITC) Clean H₂ Project Property Plan for EverWind's "Point Tupper Green Ammonia Project Phase I" to Natural Resources Canada (NRCan). Upon confirmation, the Point Tupper project is expected to be the first project in Canada to secure the CH ITC, confirming eligibility for maximum credit value based on independently validated carbon intensity of clean H₂.

Finalizing validated carbon intensity modelling and the submission of the Clean H₂ Project plan will enable EverWind to access the highest tier of the CH ITC, representing 40% of eligible capital expenditures based on a projected carbon intensity of less than 0.75 kg CO₂ per kg of green H₂. These investment tax credits are critical to ensuring that Canada is able to provide the most cost-efficient, greenest H₂ globally and provides a globally competitive cost for early movers that will drive the cost down over time.

The submission leverages a recently completed front-end engineering design (FEED) study and includes an assessment of the project's expected carbon intensity using the fuel lifecycle assessment model. These key deliverables ensure compliance with stringent regulatory standards for clean H₂ production. Validation of life-cycle carbon intensity (CI) calculations was achieved in collaboration with RWDI, a world-renowned engineering and environmental consultancy, and calculations conducted by Deloitte,Canada, a leader in carbon intensity analysis. The results confirm that EverWind's project will achieve an industry-leading carbon reduction of over 99% compared to fossil-fuel based H₂ production.

RWDI, known for its expertise in climate and performance engineering, performed the validation of the Project. "We are pleased to have worked with EverWind to validate the expected very low carbon intensity and supporting Project documentation" said Mark Vanderheyden, Chief Operating Officer at RWDI. "Our cross-disciplinary team of process modelling, validation, and life cycle assessment experts conducted an independent review of EverWind's project, completing one of the first validations to support the Clean H₂ Investment Tax Credit. This achievement underscores the importance of robust and transparent validation processes in advancing the green energy transition."

Deloitte Canada conducted the carbon intensity calculations, providing a critical foundation for the validation. Nathan Steeghs, Partner and National Climate Lead at Deloitte, commented, "We're proud to provide services to EverWind necessary to complete its clean H₂ project. EverWind is supporting global decarbonization through the construction of new renewable energy projects to power its H₂ production. Projects like this will contribute to decarbonization in Canada and beyond."

Trent Vichie, CEO of EverWind, emphasized the significance of this milestone: "Validating the carbon reduction potential of our project is a critical step in delivering on our promise of meaningful decarbonization. As Canada's first green H₂ project to achieve this level of rigor and transparency, we are proud to lead the way in setting new standards for clean energy development. This achievement not only reinforces our commitment to a net-zero future but also demonstrates the importance of collaborative efforts in addressing the global climate challenge."

With confirmation of ITC eligibility at 40%, EverWind is well positioned in a competitive global landscape to finalize binding off-take agreements and begin construction on its multi-billion dollar production and transportation facility in 2025.