NEW YORK–(BUSINESS WIRE)–#AssetClass–H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with over $48 billion of equity capital under management, is pleased to announce that its affiliate, H.I.G. Realty Credit Partners, has originated a loan for the acquisition of a 5-property, 4,000-unit self-storage portfolio located across three states in New England.

The loan was made to an affiliate of Prime Group Holdings, LLC, a self-storage owner and operator. The properties are newly-built, best-in-class assets that are well-located within their respective markets.

“We are excited to finance an asset class with such strong fundamentals. Given Prime’s excellent track record, we look forward to their continued success in these markets,” said Michael Mestel, Managing Director at H.I.G. Realty Credit Partners.

About H.I.G. Realty Partners

H.I.G. Realty Partners is the real estate platform of H.I.G. Capital, a leading global alternative assets investment firm with over $48 billion of equity capital under management. H.I.G. Realty Partners manages $8.2 billion of assets and focuses on small-to-mid cap real estate, targeting both equity and debt investments across all property types located throughout the U.S., Europe, and Latin America. Debt investments include senior bridge loans, mezzanine loans and preferred equity collateralized by transitional properties and portfolios. Equity investments are concentrated on the acquisition of value-add assets, employing a hands-on, operationally focused approach that seeks to generate substantial cash flow and asset appreciation through rehabilitating, redeveloping, repositioning and rebranding assets that have been capital starved and/or poorly managed. For more information, please refer to the H.I.G. website www.higcapital.com.

About H.I.G. Capital

H.I.G. is a leading global alternative assets investment firm with over $48 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:

1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
4. H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.

Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

* Based on total capital commitments managed by H.I.G. Capital and affiliates.

Contacts

Michael Mestel

Managing Director

mmestel@higrealty.com

Steven Schwartz

Managing Director

sschwartz@higcapital.com

LADERA RANCH, Calif.–(BUSINESS WIRE)–Strategic Storage Trust VI, Inc. (“SST VI”), a publicly-registered real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, Inc. (“SmartStop”), announced today the acquisition of two recently-constructed self storage facilities in the Greater Philadelphia MSA. These represent the 11^th and 12^th acquisitions in SST VI. Since SST VI launched as a private REIT in the first quarter of 2021, the REIT has purchased approximately $165 million of self storage facilities and land parcels to be developed into self storage.

“We are excited to add these two newly-constructed properties to the SST VI portfolio, and simultaneously enter the Philadelphia market,” said Wayne Johnson, Chief Investment Officer of SST VI. “With our tenth acquisition in program, we believe we are amassing a very high quality portfolio that we expect will create strong value for stockholders.”

Located at 401 Bellevue Road, the newly constructed facility in Newark, DE, a suburb of Philadelphia, is a state-of-the-art facility that is well positioned to serve the areas of Wilson, Brookside, Ogletown, and The University of Delaware. Opened in August 2021, the four-story facility is comprised of approximately 80,650 square feet of rental space. The facility’s 830 units are 100% climate controlled with a blend of first-floor and elevator access units. Further, it is the only storage facility offering climate-controlled units within a 2-mile radius.

The Levittown, PA facility, which opened in October 2021, is located at 1723 Woodbourne Road in the Levittown, PA, the largest suburb of Philadelphia. The three-story facility offers approximately 78,000 square feet of rental space and 810 units, 100% of which is interior climate controlled. This location serves the areas of Fairless Hills, Langhorne, Woodbourne and Fallsington. The new SmartStop® Self Storage location has desirable amenities including a sophisticated security system, secured and alarmed doors, gated entry and interior climate-controlled units with spacious elevators for second and third level units.

About Strategic Storage Trust VI, Inc. (SST VI):

SST VI is a Maryland corporation that intends to qualify as a REIT for federal income tax purposes. SST VI’s primary investment strategy is to invest in income-producing and growth self storage facilities and related self storage real estate investments in the Unites States and Canada. As of April 26, 2022, SST VI has a portfolio of ten operating properties in the United States comprising approximately 6,830 units and 701,850 rentable square feet and joint venture interests in two development properties in Toronto, Ontario.

About SmartStop Self Storage REIT, Inc. (SmartStop):

SmartStop is a self-managed REIT with a fully integrated operations team of approximately 420 self storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self storage programs. As of April 26, 2022, SmartStop has an owned and managed portfolio of 167 properties in 22 states and Ontario, Canada, and comprising approximately 113,800 units and 12.9 million rentable square feet. SmartStop and its affiliates own or manage 19 operating self storage properties in the Greater Toronto Area, which total approximately 16,200 units and 1.7 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.

Contacts

David Corak
VP of Corporate Finance

SmartStop Self Storage REIT, Inc.

949-429-3331

IR@smartstop.com

CONDITIONAL COMMITMENT FROM THE DOE’S LOAN PROGRAMS OFFICE IS THE LATEST MILESTONE IN THE DEVELOPMENT OF THE WORLD’S LARGEST GREEN HYDROGEN HUB, WHICH HAS ALSO SECURED ALL OTHER MAJOR CONTRACTS.

SALT LAKE CITY, Utah–(BUSINESS WIRE)–#ChangeInPower–The U.S. Department of Energy’s (DOE) Loan Programs Office announced today that it has issued a conditional commitment to Advanced Clean Energy Storage I, LLC, and Mitsubishi Power Americas, Inc. and Magnum Development, LLC, and Haddington Ventures, LLC, for up to $504.4MM in debt financing for the Advanced Clean Energy Storage Project, expected to be the world’s largest industrial green hydrogen production and storage facility (the “Project”). This conditional funding commitment signifies the latest development milestone for the Project.

The industry-leading Advanced Clean Energy Storage hydrogen hub, located in Delta, Utah, was announced in May 2019, and within three years is in the final stages of debt and equity closing. Currently, the hub has secured all major contracts including offtake; engineer, procure and construct (EPC) contractors; major equipment suppliers, and Operations and Maintenance (O&M) providers. Haddington Ventures, the financial advisor for the hub and equity sponsor of Magnum Development, is securing $650MM through its Equity Syndication Program. These critical financial investments will ensure the future growth and scalability of the hub.

“We are unbelievably excited to reach this important milestone, not just for our hub, but for the hydrogen industry as a whole,” said Michael Ducker, Senior Vice President of Hydrogen Infrastructure for Mitsubishi Power Americas and President of Advanced Clean Energy Storage I. “Equally rewarding is having spent the past year partnering and working with such a forward-thinking and incredibly talented team from the Intermountain Power Agency to trail blaze this market leading facility. We are honored to be sharing this industry moment with them along with all of our world-class partners joining this effort.”

The hub will initially be designed to convert renewable energy through 220 MW of electrolyzers to produce up to 100 metric tonnes per day of green hydrogen, which will then be stored in two massive salt caverns each capable of storing 150 GWh of energy. Financed with support from the DOE loan guarantee, this facility will supply hydrogen feedstock to the Intermountain Power Agency’s (IPA) IPP Renewed Project — an 840 MW hydrogen capable gas turbine combined cycle power plant — that will initially run on a blend of 30 percent green hydrogen and 70 percent natural gas by volume starting in 2025 and will increase to 100 percent by 2045.

“The IPP Renewed Project is committed to helping the region meet its carbon targets by utilizing green hydrogen as a tool to integrate affordably and reliably with the significant build-out of renewables. The scale, experience, and collaboration offered by the Advanced Clean Energy Storage hydrogen hub made their team the ideal partner for us to work with as we realize our vision towards 100% green hydrogen at the site,” said Greg Huynh, Operating Agent, IPA.

Multiple industry-leading entities are also involved in the hub, which broke ground this Spring, including:

• Black & Veatch, an industry leader in engineering, procurement, and construction which will provide EPC services for the energy conversion facility and will draw on its extensive experience building complex energy infrastructure projects to construct the hydrogen production facilities.
• Mitsubishi Power, an industry leader in technology offerings, will provide the hydrogen equipment integration including the 220 MW of electrolyzers, gas separators, rectifiers, medium voltage transformers, and distributed control system.
• NAES Corporation, one of the energy industry’s largest independent providers of operations, maintenance, and repair services, will initially provide the O&M services for the plant and will oversee the current projected team of 20 plant-related personnel.
• Utah School and Institutional Trust Lands Administration, a subdivision of the State of Utah, leases the site and utilizes revenue generated from the hydrogen hub to benefit Utah schools.
• WSP, a global leader in engineering that develops creative, comprehensive and sustainable solutions to help communities thrive, will provide EPC Management services for the development of two large salt cavern storage facilities. WSP has been developing underground storage facilities since the 80s and has developed over 200 salt caverns for top tier midstream companies.

“The Advanced Clean Energy Storage Project is well on its way to achieving its goal in the creation of a world-class green hydrogen hub,” said Craig Broussard, CEO of the joint venture. “Through our network of partners, we have the potential to provide low-cost green hydrogen to verticals in addition to power, including refineries, heavy industrials, and the transportation sector.”

While this conditional commitment demonstrates the Department’s intent to finance the project, several steps remain, and certain conditions must be satisfied before DOE issues a loan guarantee.

The hub is actively seeking partners to bring green jobs and green hydrogen to support rural Utah and greater decarbonization across industries. For more information, visit www.aces-delta.com.

About Mitsubishi Power Americas, Inc.

Mitsubishi Power Americas, Inc. (Mitsubishi Power) headquartered in Lake Mary, Florida, employs more than 2,300 power generation, energy storage, and digital solutions experts and professionals. Our employees are focused on empowering customers to affordably and reliably combat climate change while also advancing human prosperity throughout North, Central, and South America. Mitsubishi Power’s power generation solutions include gas, steam, and aero-derivative turbines; power trains and power islands; geothermal systems; PV solar project development; environmental controls; and services. Energy storage solutions include green hydrogen, battery energy storage systems, and services. Mitsubishi Power also offers intelligent solutions that use artificial intelligence to enable autonomous operation of power plants. Mitsubishi Power is a power solutions brand of Mitsubishi Heavy Industries, Ltd. (MHI). Headquartered in Tokyo, Japan, MHI is one of the world’s leading heavy machinery manufacturers with engineering and manufacturing businesses spanning energy, infrastructure, transport, aerospace, and defense. For more information, visit the Mitsubishi Power Americas website and follow us on LinkedIn.

About Magnum Development

Magnum Development, LLC is developing the only known “Gulf Coast” style domal-quality salt formation in the western United States. Magnum was founded in 2008 to create an energy hub centered around a large, little known salt body near Delta, Utah. Site viability and profitability has been proven with one business, Magnum NGLs, LLC, which was successfully developed, brought to commercialization, and sold in 2015. In March 2018, Magnum Development entered into a joint venture with Sawtooth by contributing its refined products business for an 8% ownership interest in the Sawtooth JV. A second JV was formed with Mitsubishi Power Systems in 2019 to add the storage and conversion of fossil free energy to the energy hub’s portfolio of products. As the Delta, Utah energy hub grows, Magnum will pursue additional strategic partners to broaden the strengths and products of the enterprise.

About Haddington Ventures

Founded in 1998, Haddington Ventures, LLC oversees a growing portfolio of successful conventional and renewable energy businesses that are bringing innovative new infrastructure to the U.S. energy sector. Haddington Ventures, through its private equity funds, generally makes control-oriented investments in portfolio companies acquiring or developing energy infrastructure underwritten by long term contracts. Haddington Ventures is led by a team of senior energy professionals who have invested more than $1.5 billion in companies focused on energy infrastructure across multiple private equity funds and co-investment partnerships.

About ACES Delta

ACES Delta is a joint venture between Mitsubishi Power Americas and Magnum Development. ACES Delta is developing the world’s largest renewable energy hub to produce, store, and deliver green hydrogen to the Western United States. Located in Delta, Utah, the Advanced Clean Energy Storage hub will serve as the country’s largest hydrogen gas and storage hub, initially providing over 300GWh of clean energy annually to the region. For more information, visit www.aces-delta.com.

Contacts

Communications Contacts
Mitsubishi Power Americas

Christa Reichhardt

+1 407-484-5599

Christa.Reichhardt@amermhi.com

Magnum Development

Michelle Judd

+1 801-748-5561

mjudd@magnumdev.com

Haddington Ventures

Sam Pyne

+1 713-532-7992

spyne@hvllc.com

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

OTTAWA, Ontario–(BUSINESS WIRE)–InterRent Real Estate Investment Trust (TSX-IIP.UN) (“InterRent”) announced today changes to its senior leadership and Board of Trustees (the “Board”). Effective May 1, 2022, Mike McGahan will step down from his current role as CEO and become Executive Chairman of the Board. At the same time, Brad Cutsey will succeed Mike to become President & CEO of InterRent REIT and will join the REIT’s Board and the current Chairman of the Board, Paul Amirault, will become the Lead Trustee.

Mike McGahan has been CEO of InterRent since 2009 and has successfully led the company through an initial period of portfolio rationalization, followed by tremendous growth in the REIT’s core regions, including its recent entry into the Greater Vancouver Area in early 2021. Throughout his tenure, Mike has embodied the entrepreneurial spirit that makes InterRent such a special place, ensuring that its unique culture remained intact as the company has grown and continues to mature. Under his leadership, the company has flourished to nearly 500 Team members and now provides homes to more than 13,000 households across Canada. In his role as Executive Chairman, Mike will provide ongoing guidance to the REIT over the next several years and will continue to be intimately involved with the strategic planning and capital allocation decisions of the REIT, while taking a step back from the operational side of the business.

Brad Cutsey has spent seven years honing his skillset with the REIT after being both an Equities Analyst and Investment Banker with prominent financial institutions. During his time with InterRent, Brad has explored all facets of the business and has spent a significant amount of time immersed in the operations of the REIT. Brad is uniquely positioned to hit the ground running and drive continued success across the company’s strategic priorities. Brad will work closely with Mike on strategic and growth initiatives and will focus on further enhancing InterRent’s operational platform and will continue to develop and nurture the exceptional Team that serves as its backbone. Brad’s positive attitude and boundless energy are contagious and matched only by his unwavering integrity and competitive spirit, a combination that will propel the REIT and its talented Team forward under his leadership.

Paul Amirault has been an independent Trustee since 2010 and in addition to serving as the current Chairman of the Board is a member of the Audit Committee and Nominations and Governance Committee. Paul brings extensive knowledge of capital markets and corporate governance to the role of independent Lead Trustee and will act as the effective leader of the Board in circumstances where it is inappropriate for the Executive Chairman of the Board to carry out the role due to an actual or perceived conflict of interest.

“I feel very fortunate to have been able to lead such a great Team for the last 12 years and I will continue to stay connected to my InterRent family and to be a significant REIT unitholder. I believe that Brad has the vision, tools, and a very deep bench of talent to deliver outsized returns and we are extremely lucky to have this talented individual lead the REIT into its next growth phase. On a personal note, I am looking forward to spending time with my sons and daughter in our private family real estate business, as well as on the development side with a very dynamic partner and exceptional Team” commented Mike McGahan, CEO.

“We always talk about our culture being our competitive advantage, and Mike has been the heart and soul of InterRent for more than a decade. I’ve had the pleasure to work alongside a wonderful leader and friend, and I could not be happier to see Mike make this decision to spend more time with his family after such an illustrious run with InterRent. Like Mike, I am passionate about the REIT’s role in supporting our communities and I will continue to be a strong advocate for the need to increase the supply of housing in Canada. We are clear in our strategic aspirations, and I am confident in our dedicated and talented Team to execute as we move forward together,” said Brad Cutsey, President.

“In his 12 years of serving InterRent, Mike has displayed his passion for providing homes for Canadians and building stronger communities. In his tenure as CEO, we have all come to appreciate Mike’s relentless work ethic and commitment to create a high-performing Team that feels like a family, and I personally look forward to working together with Mike in his new role as Executive Chairman. Since joining InterRent seven years ago, Brad has played an instrumental role in building the company to what it is today and has created strong personal relationships with the REIT’s many stakeholders. Under his leadership, we look forward to a vibrant future for our organization and for the thousands of families who call an InterRent community home,” commented Chairman of the Board of Trustees Paul Amirault. “Please join me in thanking Mike for his contributions to the REIT to date and in congratulating Brad on his new appointment.”

About InterRent

InterRent REIT is a growth-oriented real estate investment trust engaged in increasing Unitholder value and creating a growing and sustainable distribution through the acquisition and ownership of multi-residential properties.

InterRent’s strategy is to expand its portfolio primarily within markets that have exhibited stable market vacancies, sufficient suites available to attain the critical mass necessary to implement an efficient portfolio management structure, and offer opportunities for accretive acquisitions.

InterRent’s primary objectives are to use the proven industry experience of the Trustees, Management and Operational Team to: (i) to grow both funds from operations per Unit and net asset value per Unit through investments in a diversified portfolio of multi-residential properties; (ii) to provide Unitholders with sustainable and growing cash distributions, payable monthly; and (iii) to maintain a conservative payout ratio and balance sheet.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contacts

For further information:
Sandy Rose, CFA

Director – Investor Relations & Sustainability

(514) 704-2459

sandy.rose@interrentreit.com
www.interrentreit.com

HOUSTON–(BUSINESS WIRE)–Westlake Royal Building Products™, one of North America’s largest manufacturers and distributors of exterior and interior building products, is pleased to announce that its parent company Westlake Corporation (NYSE: WLK) has achieved two years of +Vantage Vinyl certification.

+Vantage Vinyl is a voluntary, independent, third-party verification program, which Vinyl Sustainability Council (VSC) members use to certify their contributions toward continuous improvement in each of the impact categories – resource recovery, emissions, health and safety. To secure the +Vantage Vinyl mark, Westlake must prove each year that it has met the rigorous requirements outlined by the program’s guiding principles and has integrated sustainability activities and key performance indicators into the business as required by the initiative.

“We are thrilled that Westlake has received the +Vantage Vinyl certification for a second year, which is a demonstration of our company’s dedication to sustainable business practices,” said Steve Booz, vice president of marketing, Westlake Royal Building Products. “While we realize sustainable initiatives are ongoing, we hope to inspire other organizations to be responsible leaders in advancing an industry-wide approach to sustainability.”

Westlake uses Building for Environmental and Economic Sustainability (BEES) software, which was developed by the National Institute of Standards and Technology (NIST) to analyze the environmental life cycle of its products, from raw materials to waste management policies. The BEES software has shown that throughout its life cycle, vinyl releases significantly fewer toxic chemicals into the environment than other siding materials and has a lower overall environmental impact.

Westlake Royal Building Products uses PVC resin as the backbone of Royal^® vinyl and Exterior Portfolio^® vinyl siding. This is derived from components in nature, such as common salt and natural gas, that make PVC weather-resistant, chemically stable and lightweight.

“Compared to vinyl siding, fiber cement contributes almost four times the global warming potential; more than two times the acidification; and more than three-and-a-half times the air pollution,” added Booz. “We are also leading the charge, along with the Vinyl Siding Institute, in investigating methods of post-consumer recycling of PVC.”

+Vantage Vinyl is the only sustainability initiative that allows participation from all companies within the entire vinyl value chain with U.S. operations, ranging from raw material manufacturers and suppliers to final product manufacturers and retailers. To learn more about the +Vantage Vinyl program visit https://vantagevinyl.com/.

About Westlake Royal Building Products

Westlake Royal Building Products USA Inc., a Westlake company (NYSE:WLK), is a leader throughout North America in the innovation, design, and production of a broad and diverse range of exterior and interior building products, including Siding and Accessories, Trim and Mouldings, Roofing, Stone, Windows and Outdoor Living. For more than 50 years, Westlake Royal Building Products has manufactured high quality, low maintenance products to meet the specifications and needs of building professionals, homeowners, architects, engineers and distributors, while providing stunning curb appeal with an unmatched array of colors, styles, and accessories.

For more information, please visit WestlakeRoyalBuildingProducts.com. Follow us on LinkedIn and Instagram and “Like” us on Facebook.

Contacts

Kriss Swint

Westlake Royal Building Products

kswint@westlake.com

CALGARY, Alberta–(BUSINESS WIRE)–Westphalia Dev. Corp. (the “Corporation”) announced today its results for the fiscal year and fourth quarter ended December 31, 2021. Launched in March 2012, the Corporation acquired for development the 310-acre Westphalia Property (the “Property or the “Project”) located in Prince George’s County, Maryland, United States.

Review of Operations

The Corporation continues to actively seek purchasers and developers for the remaining lands associated with Phases 2 and 3 as well as other more immediate opportunities associated with the Phase 1 retail lands. The key activities undertaken by the Corporation during the year ended December 31, 2021, were as follows:

Construction Activities

• Continued construction on the Woodyard Road Interchange project. Construction is on schedule and expected to be completed in September 2022.

• The Presidential Parkway East project is substantially complete pending paving of the final top coat; final surveys are being prepared.

• Continued construction on the Presidential Parkway West project, which is expected to be completed by Q3 2022.

Sales Activities & Financing

• The Corporation amended the purchase and sale agreement to increase the purchase price for the commercial/industrial land in Phases 2 and 3 of the Project.

• A purchase and sale agreement expired in accordance with its terms on the residential for sale sites. The Corporation is in discussions with the same buyer regarding a potential alternative agreement pursuant to which that buyer would purchase fully engineered fee simple lots in lieu of raw land for condominium development. The Corporation will also take this out to market and discuss the opportunity with other builders.

The single-family market in the Washington, D.C. metropolitan statistical area, and specifically in the Prince George’s County submarket, continues to show strength which has led to increased builders’ interest in purchasing raw land for the development and construction of their own lots.

Management continues to focus on strategies to maximize the returns of the Project, which include, but are not limited to:

• Subsequent to year end, on April 1, 2022, the Corporation renegotiated its senior debt with its existing lender, WWMN, LLC. The Corporation has also begun reaching out to a third-party bank for an additional short-term loan.

• The Corporation is working to advance the planning of its current Phase 1 retail lands which are being considered on a for sale basis or a vertical joint venture basis. There are three sites in which a vertical strategy is being pursued to work with national or regional retail commercial and senior living builders. The Corporation is evaluating options for consultants to be engaged for this strategy and is seeking partners to build and lease out the two commercial sites and the senior living site.

• The Corporation continues to work with the local community, County leadership, and internal staff to re-plan additional development within the Westphalia Town Center. The Corporation also continues to work with the various consultants to implement a shift in the project’s scope after having received input from those detailed above.

Fourth Quarter and Year End Financial Results

The Corporation did not recognize any revenue in the fourth quarter of 2021. During the year ended December 31, 2021, the Corporation recognized revenue on contracts of $nil (2020 – $18,868,800). The cost of sales relating to the lot sales was $nil (2020 – $18,716,794), including selling costs and commissions. Cost of sales for the year ended December 31, 2021, included impairments on land development inventory of $nil (2020 – $2,469,865). Revenue and cost of sales recognized for the year ended December 31, 2020, was in respect to the sale of 18 Phase 1 single family lots to home builders and the Phase 1A bulk land sale to Galaxy NC, LLC.

For the year ended December 31, 2021, the Corporation generated a comprehensive loss of $1,917,091. When compared to the year ended December 31, 2020, total comprehensive loss of $3,419,241, there is a variance of $1,502,150 between the respective period ends. The variance is largely due to an impairment of $ 2,469,865 recognized during the year ended December 31, 2020. The breakdown of the comprehensive loss generated is detailed in the Management Discussion & Analysis.

Additional Information

The Corporation is managed by Walton Global Investments Ltd. and the development of the project is managed by Walton Development & Management (USA), Inc., both of which are members of Walton.

Walton is a privately owned, leading global real estate investment, land asset management and administration group that has focused on strategically located land in major growth corridors for more than 43 years. Walton manages and administers US$3.4 billion of real estate assets in North America on behalf of its investors and business partners. Walton has more than 98,000 acres of land under ownership, management and administration in the United States and Canada. Key entities in Walton include Walton Global Holdings, LLC, Walton International Group and Walton Development & Management (USA), Inc. For more information visit Walton.com.

This news release, required by Canadian laws, does not constitute an offer of securities, and is not for distribution or dissemination outside Canada. This news release contains forward looking information, and actual future results may differ from what is disclosed in this news release. Forward-looking information is based on the current expectations, estimates and projections of the Corporation at the time the statements are made. They involve a number of known and unknown risks and uncertainties which would cause actual results or events to differ materially from those presently anticipated. The risks, uncertainties and other factors that could cause the Corporation’s actual results and performance in future periods to differ materially from the forward looking information contained in this news release include, among other things, the development of Westphalia Town Center, general economic and market factors, including interest rates, a decline in the real estate market, changes in government policies and regulations or in tax laws, changes in municipal planning strategies and whether certain development approvals are obtained and changes in the Canadian/U.S. dollar exchange rate, in addition to those factors discussed or referenced in documents filed with Canadian securities regulatory authorities and available online at www.sedar.com.

Except as otherwise noted, all amounts are in Canadian dollars, and are based on unaudited condensed interim consolidated financial statements for the three months ended December 31, 2021, and related notes, prepared in accordance with International Financial Reporting Standards.

Contacts

Media Contact:
Megan Wahl

LAVIDGE

480-998-2600

DL-Walton@lavidge.com

LADERA RANCH, Calif.–(BUSINESS WIRE)–SmartStop Self Storage REIT, Inc. (“SmartStop” or the “Company”), an internally-managed real estate investment trust and a premier owner and operator of self storage facilities in the United States and Canada, today filed a registration statement on Form S-11 with the U.S. Securities and Exchange Commission (the “SEC”) on April 22, 2022, relating to a proposed underwritten public offering in conjunction with the listing of its common stock on a national securities exchange. SmartStop intends to apply to list its common stock on the New York Stock Exchange under the ticker symbol “SMST.”

The number of shares to be offered and the price range for the proposed offering have not yet been determined. The offering is subject to market conditions, and there can be no assurance as to whether, or when, the offering may be contemplated or as to the actual size or terms of the offering.

Citigroup, Wells Fargo Securities, KeyBanc Capital Markets and BMO Capital Markets, are acting as joint book-running managers of the offering.

The offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to this offering, when available, may be obtained from: Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel: 800-831-9146 or email to: Prospectus@citi.com); Wells Fargo Securities, Attention: Equity Syndicate Department, 500 West 33rd Street, New York, New York, 10001, at (800) 326-5897 or email a request to cmclientsupport@wellsfargo.com; KeyBanc Capital Markets Inc., Attention: Equity Syndicate, 127 Public Square, 4th Floor, Cleveland, OH 44114, by telephone at 1.800.859.1783 or by fax at 1-216-689-0845; or BMO Capital Markets Corp., Attention: Equity Syndicate Department, 151 W 42nd Street, 32nd Floor, New York, NY 10036, by telephone at (800) 414-3627 or by email: bmoprospectus@bmo.com.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About SmartStop Self Storage REIT, Inc. (SmartStop)

SmartStop is a self-managed REIT with a fully integrated operations team of approximately 420 self storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self storage programs. As of April 22, 2022, SmartStop has an owned and managed portfolio of 165 properties in 20 states and Ontario, Canada and comprising approximately 112,000 units and 12.8 million rentable square feet. SmartStop and its affiliates own or manage 19 operating self storage properties in the Greater Toronto Area, which total approximately 16,200 units and 1.7 million rentable square feet.

Contacts

David Corak
VP of Corporate Finance

SmartStop Self Storage REIT, Inc.

949-542-3331

IR@smartstop.com

HBC Gifts Landmark Building to Southern Chiefs’ Organization

A Bold Vision for a Better Future – Grand Chief Daniels

ANISHINAABE & DAKOTA TERRITORY, Manitoba–(BUSINESS WIRE)–The Southern Chiefs’ Organization (SCO) is proud to announce its project to transform the iconic Hudson’s Bay Company (HBC) heritage building in downtown Winnipeg. Following traditional ceremony over two days, culminating in an announcement event held on Friday, HBC announced its intention to gift the building to SCO. Working closely with HBC and federal and provincial Treaty partners, SCO has developed a visionary plan to turn the building into a space for economic and social reconciliation.

“Today can be another step forward to a brighter future, one that reflects what our ancestors dreamed of,” stated Grand Chief Jerry Daniels. “This project is an act of reconciliation and is our vision to revitalize the heart of Winnipeg’s downtown, for the benefit of all, in line with our traditional, holistic approach to sustainable economic development.”

The project’s working title is Wehwehneh Bahgahkinahgohn, or ‘it is visible’, and it will be a public act of reclamation and reconciliation as First Nations become the new owners of the historic building. This year marks the 352^nd anniversary of Hudson’s Bay Company (HBC), the oldest company in North America and one entwined with the fur trade. This project can begin to tell a new story for First Nations, for HBC, and for Canada.

“As we considered the future for the Winnipeg building, it was important to ensure a sustainable plan for the site that also had meaningful purpose for the city of Winnipeg,” said Richard Baker, Governor and Executive Chairman of Hudson’s Bay Company. “HBC’s Truth and Reconciliation journey requires actions that demonstrate our commitment to moving forward together with Indigenous communities. We believe SCO is the right steward for this location, and can create a new community landmark that will help advance reconciliation.”

Everyone deserves a safe and affordable place to call home,” said The Right Honourable Justin Trudeau, Prime Minister of Canada. “By reimagining the iconic Hudson’s Bay Company building in Winnipeg’s downtown core, the Southern Chiefs’ Organization is helping preserve this historic building, while creating almost 300 much-needed housing units for members of the southern First Nations in Manitoba.”

Following an unprecedented year, with the discovery of unmarked graves of children who died at residential school, and the disproportionate economic, health, and social hardships brought on by the pandemic, now is the time to create a new and brighter future for First Nations people. The SCO project will give new life to the Bay building, including a place of reflection to honour residential and day school Survivors and the children who did not make it home. It will also create social and economic opportunity, including significant long-term employment and over a million working hours during the construction phase, putting people back to work after the COVID-19 pandemic.

“With this project, we are working with HBC and creating a new way of living and working together with Treaty partners to create better outcomes for us all,” said Peguis First Nation Chief Hudson, member of the SCO Chiefs’ Executive Committee. “This will be a new beginning for our people, for this important heritage building, and for everyone who will be brought together to live, work and visit this ground-breaking space.”

“The iconic Hudson’s Bay building is part of our province’s heritage and the social fabric of downtown Winnipeg,” said Premier Heather Stefanson. “We are pleased to see this unique partnership and act of reconciliation move forward that will certainly have a positive impact on the redevelopment of this landmark building and vibrant neighbourhood while also supporting our collective commitment to work collaboratively with Indigenous communities to build a brighter future for all Manitobans.”

“At the centre of Canada and at the crossroads of an Indigenous meeting place that is thousands of years old, Winnipeg is leading the way forward on Canada’s journey of reconciliation and today’s announcement is another step in the right direction,” said Mayor Brian Bowman. “I am proud to participate in today’s announcement of a vision led by the Southern Chiefs’ Organization and supported by the Hudson’s Bay Company and governments. Our country’s path to reconciling with Indigenous Peoples will be long, and will require the support of many, and steps like the actions here today.”

Environmental sustainability will be championed throughout the renewal of the Bay building, with the use of technologies to support the low carbon, low energy ideals including a 35 per cent reduction in energy consumption and an 81 per cent reduction in greenhouse gas emissions that closely align with First Nation values of treading lightly on the earth. Conservation principles will be incorporated throughout the renovation, while maintaining the distinguished and historic façade, making the building a showpiece of heritage preservation and sustainability.

The building will be further reimagined by a transformation of the main floor, creating a public space that honours our lands and waters, in an atrium illuminated by skylights and the soaring sky above. Once complete, the building will attract people from across Turtle Island and beyond as the area becomes a key draw for the celebration of First Nation heritage and culture with a museum and living art gallery, where for the first time First Nations will tell our own story. Two restaurants will attract downtown office employees, students from the nearby university as well as locals and tourists, drawn to a main floor featuring a café with a fresh take on First Nations’ cuisine and a rebooted Paddlewheel Restaurant.

“It’s been a difficult year for us all, but we are resilient and continue to work towards a better future,” added Sagkeeng Anicinabe Chief Derek Henderson, member of the SCO Chiefs’ Executive Committee and the Chiefs’ Finance and Personnel Committee. “The transformation of this historic building is a way out of the darkness and towards a better tomorrow. This project can set the standard for what reconciliation can look like, in the city with the largest Indigenous population in Canada.”

The improvement of First Nation peoples’ health and wellness is also incorporated into SCO’s project, with a health and healing centre that embraces both western and traditional medical practices. The rooftop garden will provide further space for wellness, as children in the child care centre can explore and plant their own garden, and residents and employees will be able to find fresh air and space to exercise or enjoy the natural world.

The historic building will also become the future Governance House for the Chiefs of the southern First Nations, the voice for 34 Anishinaabe and Dakota Nations, and more than 81,000 First Nation citizens, 10 per cent of all First Nation people in Canada. As leaders and stewards of this land, the Governance House will be a symbol of reclamation for our people for years to come.

The project team includes senior advisor Dr. Phil Fontaine, Founder and President of Ishkonigan, former three time National Chief of the Assembly of First Nations, and negotiator of the Indian Residential Schools Settlement Agreement which created the Truth and Reconciliation Commission of Canada. The Honourable Dr. Lloyd Axworthy, Nobel Peace Prize nominee and former Minister of Foreign Affairs Canada who revitalized the west end of downtown Winnipeg when he was President of the University of Winnipeg, is also a senior advisor to the project.

“This project represents SCO’s bold vision of what the future can hold,” concluded Grand Chief Jerry Daniels. “It can be a new world of hope and possibility, filled with place and space for our people to come together, to grow, create, and lead. A place for us to connect with people who come from across Turtle Island. A place for us to stand together in unity, speaking with one voice, proud of who we are. This is the vision of our ancestors.”

About SCO

The Southern Chiefs’ Organization represents 34 Anishinaabe and Dakota Nations and more than 81,000 citizens in what is now called southern Manitoba. SCO is an independent political organization that protects, preserves, promotes, and enhances First Nations peoples’ inherent rights, languages, customs, and traditions through the application and implementation of the spirit and intent of the Treaty-making process. For more information, visit https://scoinc.mb.ca/

About HBC

HBC is a holding company of investments and businesses at the intersection of technology, retail operations and real estate. It is the majority owner of iconic ecommerce companies: Saks, a leading online destination for luxury fashion; The Bay, a Canadian ecommerce marketplace; and Saks OFF 5TH, a premier luxury off-price ecommerce company offering top brands at the best prices. These businesses were established as separate operating companies in 2021. HBC also wholly owns Hudson’s Bay, the operating company for Hudson’s Bay’s brick-and-mortar stores, as well as SFA, the entity that operates Saks Fifth Avenue’s physical locations, and O5, the operating company for Saks OFF 5TH stores.

With assets spanning top markets and prime locations across North America, HBC owns or controls—either entirely or with joint venture partners—approximately 40 million square feet of gross leasable area. HBC Properties and Investments, the company’s real estate and investments portfolio business, manages these assets along with additional real estate offerings, including Streetworks Development, its property development division.

Founded in 1670, HBC is North America’s longest continually operating company and is headquartered in New York and Toronto. For more information visit: www.hbc.com.

Contacts

For Media Inquiries:

Southern Chiefs’ Organization

Email: Media@scoinc.mb.ca
www.scoinc.mb.ca

Tiffany Bourré, DVP of Communications, PR and Heritage, The Bay

416-571-1301 | Email: tiffany.bourre@thebay.com

WINNIPEG, Manitoba–(BUSINESS WIRE)–An historic announcement will be made this morning followed by a news conference regarding the future vision for the Hudson’s Bay Building in downtown Winnipeg.

When:		10:00 am – 12:00 pm, CST
Where:		Hudson’s Bay Heritage Building
		Entrance at the corner of Portage and Memorial
		450 Portage Avenue, Winnipeg
Who:		Southern Chiefs’ Organization Grand Chief, Jerry Daniels
		HBC Governor, Richard Baker
		The Right Honourable Justin Trudeau, Prime Minister of Canada
		The Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion
		The Honourable Patty Hajdu, Minister of Indigenous Services Canada
		The Honourable Dan Vandal, Minister of Northern Affairs and Minister responsible for Prairies Economic Development Canada
		The Honourable Heather Stefanson, Premier of Manitoba
		His Worship Brian Bowman, Mayor of Winnipeg
In Attendance: members of the Southern Chiefs’ Organization Chiefs’ Executive Committee and Chiefs’ Finance and Personnel Committee
		Chief Derrick Henderson, Sagkeeng Anicinabe First Nation
		Chief Glenn Hudson, Peguis First Nation
		Chief Cornell McLean, Lake Manitoba First Nation
		Chief Trevor Prince, Sandy Bay Ojibway First Nation
Required		Accredited members of the press only. ID must be presented.
for Entry:		Proof of vaccination required
More information will be distributed at the event, and a moderated media QA will be facilitated following the announcement.

 

Contacts

Email: Media@scoinc.mb.ca
www.scoinc.mb.ca

Tiffany Bourré, DVP of Communications, PR and Heritage, The Bay

416-571-1301 | Email: tiffany.bourre@thebay.com

LOUISVILLE, Ky.–(BUSINESS WIRE)–In 2019, Premier Packaging’s state-of-the-art, 305,000-square-foot headquarters and corporate distribution center opened at 4301 Produce Road. Just a few years before, the 17 acres had been a brownfield property, a former industrial site compromised by environmental issues that hindered redevelopment.

Premier and the property’s former owner spent money and 3 ½ years cleaning up the property beyond government requirements. “We’ve continued sustainability by bringing a fallow site back to service to benefit the community,” said project manager Charles P. Marsh.

How Groundwater Became Contaminated

The site formerly housed a plant that used heat and dies to reshape aluminum for different industries. A metal degreaser, carcinogenic tetrachloroethylene (PCE), was regularly pumped into the plant from a tanker truck via a hose and coupling. Over time, a leak developed, with the dripping PCE forming a contaminated plume in the site’s groundwater.

The site’s then-owner installed 25 monitoring wells on the site and nearby commercial properties and operated a $100,000-per-year water filtration system. By 2015, PCE groundwater levels had fallen enough for Kentucky EPA officials to allow the suspension of the filtration system. The site went up for sale, but the environmental issues scared away potential buyers.

Premier Takes on the Challenge

Enter Premier Packaging owner John Gaynor, who thought the location was perfect for consolidating operations from three different facilities for his company. Premier provides custom-made packaging and shipping solutions for customers in North and South America.

New technology was used to inject a slurry of solid iron and activated carbon directly into the water plume, breaking down the PCE into less dangerous components. As PCE groundwater levels have declined, the state of Kentucky has allowed the closure of more of the monitoring wells. Currently four wells on site are tested twice a year.

During construction of Premier’s facility, environmental compliance was tedious. No dirt could be taken off the site without testing by an environmental engineer. Unsafe dirt was sent to a controlled landfill.

The extra work and expense were worth it, according to Gaynor. “Here was an inactive site that some might consider a liability. Instead, we cleaned it up and turned it into a wonderful corporate distribution facility and a great economic asset for the community.”

Contacts

Mackenzie Crigger, Sustainability Manager, Premier Packaging, 714.504.4709, mcrigger@prempack.com

The World Urban Pavilion in Toronto’s Regent Park is a collaborative initiative between founding partners, Urban Economy Forum, UN-Habitat, Canada Mortgage and Housing Corporation, and The Daniels Corporation

TORONTO–(BUSINESS WIRE)–The doors opened today to the world’s first hub for in-person and virtual knowledge exchange on matters of accessible housing, green construction, urban equity and sustainable urban growth. Nestled in the heart of Toronto’s Regent Park, the World Urban Pavilion (the Pavilion) is a 4,000 square foot hub for innovation, exhibition and demonstration of the world of possibilities that places cities and towns at the heart of the Sustainable Development agenda.

The Pavilion is the culmination of a multi-year partnership between the Urban Economy Forum (UEF), UN-Habitat, Canada Mortgage and Housing Corporation (CMHC) and The Daniels Corporation (Daniels).

During the opening, Daniels announced a contribution of $3 million over five years to support the Pavilion. The Pavilion is now known as the World Urban Pavilion in Regent Park – Powered by Daniels. This commitment ensures the Pavilion remains an accessible and free resource for both local residents and the world’s champions of sustainable urbanization.

The World Urban Pavilion has been designed as a knowledge exchange hub where stakeholders from around the world can come together to share learnings and best practices on sustainable urban development. The Pavilion is located in Daniels’ DuEast mixed-use development on Dundas Street East, within a fully-accessible building in an open, gallery inspired space. Its unique design and multifunctional space provide opportunities for collaboration and ideas to blossom.

Visitors to the grand opening were treated to a viewing of the inaugural exhibition of the Pavilion, titled Canada Home. This is a multi-phase exhibition that will bring attention to Canadian innovation related to housing, communities, and sustainability. University of Toronto’s Infrastructure Institute at the School of Cities combined both conceptual and practical installations in this exhibition that depict models and approaches to mixed-use buildings.

The opening of the Pavilion also marks the launch of a global hub for UN-Habitat’s signature SDG Cities Initiative: a global endeavor to set more than 1,000 cities worldwide on track to achieve the 17 Global Goals that leave no one behind in the fight to end poverty, protect the planet, and ensure that all people enjoy peace and prosperity by 2030.

Offering personalized consultations and a sheaf of planning and data collection tools to mayors, city managers, civil society networks and urban citizens, the SDG Cities Global Hub will also serve as a knowledge repository for cost-considering, contextually relevant sustainability-oriented initiatives to power equitable and inclusive urban regeneration and development.

To learn more about the Virtual Pavilion, please visit: https://www.worldurbanpavilion.org/virtual-pavilion

Quotes

“The World Urban Pavilion will inspire and incubate the best new ideas in urban development and open doors to learning from each other and from other countries. Most importantly, it will lead us, as a country, towards a sustainable, inclusive future where everyone has a place to call home.” – The Honourable Ahmed Hussen, Canadian Minister of Housing and Diversity and Inclusion

“Bringing the World Urban Pavilion to Toronto is a demonstration of our city’s collective leadership in addressing housing challenges. There is no better spot than Regent Park to see this come to life as this mixed-use community has become a staple in our city and a global example of good city planning and development. I look forward to seeing the new ideas and solutions that will come out of this space and the collaborative work that will occur with other leaders and countries from around the world.” – John Tory, Mayor, City of Toronto

“It has been an incredible journey for the Urban Economy Forum and all our partners to establish the Pavilion as a global hub for sustainable urbanisation. Today the Pavilion has shown to the world how organisations, communities, and people can all come together to push forward on the SDGs. We are very excited to embark on this new chapter for the Pavilion with all our partners, as we collectively work for a better urban future for all.” – Reza Pourvaziry, Chair of Urban Economy Forum

“I’m delighted that the World Urban Pavilion has decided to adopt SDG Cities as a centerpiece of its programmatic work and will become a global hub. UN-Habitat can confidently state that the Pavilion has a strategic role in advancing the achievement of SDGs in cities worldwide, and in supporting innovative solutions to pertinent issues faced in cities. We are fully behind the success of the Pavilion.” – Rafael Tuts, Director of Global Solution of the UN-Habitat

“I’m excited about the World Urban Pavilion and its physical imprint on the neighbourhood. I’m just as excited about the programming that will take place there and the front-row seat we will have to see the great work around Sustainable Development Goals taking place in Canada and around the world.” – Romy Bowers, President & CEO of Canada Mortgage and Housing Corporation

“Daniels is proud to be a founding partner of the World Urban Pavilion and thrilled to welcome the world to the vibrant Regent Park community. The Pavilion will showcase best practices in urban revitalization, with Regent Park providing a shining example of how multi-sector collaboration, with local resident voices at the centre, can re-imagine and transform challenged inner-city neighbourhoods into healthy, inclusive and sustainable communities.” – Mitchell Cohen, President & CEO of The Daniels Corporation

“The Regent Park community is excited about the launch of the World Urban Pavilion. The opportunity to learn from the many communities locally in Canada and globally on how cities and communities are being built better and how our own journey and philosophy to believe, begin and build can contribute to making the cities of the world a better place to call home.” – Ibrahim Afrah, Regent Park Community Representative & World Urban Pavilion Steering Committee Member

“The Pavilion offers a platform for communities like Regent Park to tell our stories, fosters solidarity across borders through knowledge-sharing and will allow us to come together to say it loud: ‘nothing about us without us.’ We in Regent Park have learned and know to be true, that participatory decision making with community members is essential to the success of revitalization and that it requires a willingness of those in power to share that power with residents with lived experience. There is a critical difference between being offered the empty ritual of participation and residents having real power to affect the changes happening in their own community.” – Marlene DeGenova, Regent Park Community Representative & World Urban Pavilion Steering Committee Member

About Our Partners

The Canada Mortgage and Housing Corporation (CMHC) is Canada’s authority on housing. CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. For more information, visit our website or follow us on Twitter, YouTube, LinkedIn, Instagram and Facebook.

To find out more about the National Housing Strategy, visit www.placetocallhome.ca.

The UN Human Settlements Programme, or UN-Habitat is mandated by the UN General Assembly to promote socially and environmentally sustainable towns and cities and communities. UN-Habitat works to support countries to have access to reliable data and information on urban conditions and trends, and to efficiently monitor and report on progress toward achieving global agendas including the Sustainable Development Goals. UN-Habitat’s vision of “a better quality of life for all in an urbanizing world” is achieved through work with partners to build inclusive, safe, resilient and sustainable cities and communities. UN-Habitat promotes urbanization as a positive transformative force for people and communities, reducing inequality, discrimination and poverty. Visit: https://unhabitat.org.

The Urban Economy Forum (www.ueforum.org) is an international non-profit organization that engages with city leaders to build capacities and global networks to realize the United Nations’ Sustainable Development Goals (SDGs), focusing on sustainable urbanism and lifestyle. The UEF’s annual conference is an international gathering of ministers, mayors, urban activists and planners, architects, academics, financiers, and civil society to raise awareness and exchange ideas and best practices on key topics pertaining to sustainable development. The 4th annual Urban Economy Forum will be held on October 3,4, and 5, 2022, with the overarching theme of Finance, Cities, and Sustainability.

The Daniels Corporation (www.danielshomes.ca) is one of Canada’s pre-eminent builders/developers, building more than 35,000 new homes across the Greater Toronto Area for over 38 years. Among its many initiatives, Daniels was chosen to partner with Toronto Community Housing to revitalize 53 of the 69 acres in Toronto’s Regent Park. Daniels is the developer of TIFF Bell Lightbox and the City of the Arts community on Toronto’s Eastern Waterfront. Understanding that quality of life is created by much more than physical buildings, Daniels goes above and beyond bricks and mortar to integrate building excellence with opportunities for social, cultural and economic well-being.

Contacts

Ema Asler

Kaiser & Partners

Ema.Asler@kaiserpartners.com

MISSISSAUGA, Ontario–(BUSINESS WIRE)–#BuildingProgress–In celebration of this year’s Earth Day (April 22), Lafarge Canada Inc. is proud to announce the ambitious goal of doubling Eastern Canada Recycled Aggregates volumes by 2025 – a set target to supply customers with over 2 million tonnes per year – the equivalent to a train pulling 16,000 fully loaded rail cars. The use of Recycled Aggregates alone is a key component of Lafarge Canada’s journey to Net Zero, directly associated with the global demand for sustainable building solutions to support better living standards. “2021 was a record year. Having achieved a 19 per cent growth rate last year exceeding our original ambition of 15 per cent, encourages our teams to confidently work towards our 2025 Aggregates Strategy,” commented Peter Sanguineti, Vice President, Aggregates Eastern Canada. “In fact, we are already looking to accelerate this year’s growth rate, aiming at 25 per cent – a 10 per cent annual prediction increase – based on our ongoing projects with key partners in Eastern Canada.”

Lafarge’s investment in the Recycled Aggregates portfolio is a clear example of the company’s commitment to the concept of Circular Economy, for instance, when producing Recycled Aggregates from demolition waste and returned concrete, Lafarge avoids the disposal of these materials in landfills and presents a sustainable alternative to virgin materials, which are non-renewable resources. “In addition, our high quality recycled aggregates significantly reduce the volume of virgin material to be transported by trucks over time,” commented Marie-Michèle Poirier, Manager, Environment & Land, Eastern Canada, “In order to reuse construction waste and turn it into Recycled Aggregates, we transport the waste directly to stockpiles at cities’ depots, which traditionally is a shorter distance compared to virgin material transportation from quarries to construction sites, resulting in a significant decrease in GHG emissions.”

“Our objective is to follow the circular economy’s three principles of Reduce, Reuse, and Recycle to build more with less and preserve our ecosystems. In that sense, our efforts are focused on expanding applications for Recycled Aggregates and raising quality and acceptance standards; and at the same time, address current barriers across Provincial and local governments,” affirms Sanguineti. “When you consider the logistics benefits of being close to the market and the need for a trusted outlet for demolition waste, we have a winning recipe.”

Partnerships in Eastern Canada

Over the past years, in Eastern Canada, Lafarge has supplied Recycled Aggregates to multiple projects in partnership with the Ontario Ministry of Transportation and the Infrastructure Ontario, including Metrolinx and the most recent QEW Credit River project. In addition, lately, the company has been working with subcontractors to Mosaic’s Finch Light Rail Transit (LRT) project to supply Recycled Aggregates in Mississauga (ON). These applications prove the versatility and high performance standards of Lafarge’s Recycled Aggregates portfolio in traditional applications.

“In one of our most recent endeavors, we have been supplying multiple contractor partners performing the work for the various projects as part of the City of Toronto Basement Flooding Protection Program,” affirms Mark Lambie, Commercial Manager, Greater Toronto Area Aggregates. “The City primarily uses recycled concrete for trench backfill and bedding as part of the roadwork and their Flood Protection Program upgrades to water and wastewater in infrastructure. This proves that with proper processes and controls in place to guarantee product specifications, quality and consistency in addition to proper traceability, it can be safely utilized in a much broader and complex range of applications.”

As part of the execution of Lafarge Eastern Canada Aggregates Strategy, the company has been also partnering with Concordia University, in Quebec, leading a study in cooperation with the City of Montreal to assess Recycled Aggregates performance in different applications. “Another exciting channel is our collaboration with different industries’ interest groups, such as Circular Economy Leadership Canada (CELC) and our participation in their World Circular Economy Forum last year,” highlighted Sanguineti. “Lastly, in February this year, we had the pleasure to sponsor the ‘Maximizing the use of Recycled Aggregates for roads construction in Canada’, a national workshop led by Circular Economy Leadership Canada in partnership with Circular Innovation Council. The event was a great opportunity to share information amongst various industry stakeholders and further our common understanding of the success stories and remaining barriers.”

Technical and scientific studies

According to Nicolas Ginouse, Technical Director, Aggregates & Construction Materials, Eastern Canada, “Technical and scientific studies on this topic clearly show that the complete or partial replacement of virgin aggregates by Recycled Aggregates offers unique opportunities for supply chain security, reducing natural resources consumption, and global carbon footprint while ensuring similar, and in some cases, superior performances when compared to virgin materials. In some European countries and areas, such as in Paris, where sourcing virgin aggregates is very challenging, the use of Recycled Aggregates has become the norm, as they are essential to secure sustainable and cost-effective aggregates supply, while reducing CO2 emissions.”

In 2019, the Ontario Good Roads Association (OGRA) estimated that more than 6 million tonnes of Recycled Asphalt Pavement (RAP) were being stockpiled at over a hundred facilities across the province. “If we were to reuse this amount of RAP as an industry – the equivalent of over 500,000 full dump trucks – in producing asphalt for new roads, we would be looking at saving around 15 million cubic metres of freshwater, enough water for over 50,000 households for one year, and on top of that, we would be saving 125 thousand tonnes of greenhouse gases (GHGs) emissions,” concludes Lambie.

Industry task force

However, there are currently a few barriers restricting the accelerated growth of Recycled Aggregates in Canada. One of the most pressing roadblocks is the lack of trust in performance – related to a few unfortunate events that took place in the past associated with industry players that have supplied projects with substandard material, which have resulted in quality and durability issues. “This is why it is key for us to aim to define a set of regulations or a certification system that provides the minimum quality and consistency requirements to ensure high standard performance. However, Lafarge recognizes the fact that we cannot influence this on our own and there must be consensus among responsible players,” commented Sanguineti. “With that said, we have initiated an industry task force with like minded responsible industry players, looking to standardize acceptance requirements across local governments in Ontario.”

Quick Facts

• Aggregates Strategy 2025 aims at doubling Recycled Aggregates volume in Eastern Canada – a set target to supply customers with over 2 million tonnes per year, the equivalent to a train pulling 16,000 fully loaded rail cars.
• 2021 Eastern Canada Aggregates Product Line presented a 19% volume growth rate; prediction was 15%.
• 2022 Eastern Canada Aggregates Product Line already aims at 25%, a 10% increase compared to this year’s predictions.
• Lafarge has been recently working with subcontractors to Mosaic’s Finch LRT to supply Recycled Aggregates to projects in Mississauga.
• Lafarge has also been supplying multiple contractor partners performing the work for the various projects as part of the City of Toronto Basement Flooding Protection Program. The City primarily uses recycled concrete for trench backfill and bedding as part of the roadwork and their Flood Protection Program upgrades to water and wastewater in infrastructure.
• Lafarge has been partnering with Concordia University, in Quebec, leading a study in cooperation with the City of Montreal to assess Recycled Aggregates performance in different applications.
• In 2019, the Ontario Good Roads Association (OGRA) estimated that more than 6 million tonnes of Recycled Asphalt Pavement (RAP) were being stockpiled at over a hundred facilities across the province.

Associated Links

• https://www.lafarge.ca/en/sustainability
• http://mosaictransit.com/finch.html
• https://www.infrastructureontario.ca/en/
• https://www.toronto.ca/services-payments/water-environment/managing-rain-melted-snow/basement-flooding/basement-flooding-protection-program/
• https://www.concordia.ca/
• https://montreal.ca/en/
• https://circulareconomyleaders.ca/
• https://circularinnovation.ca/
• https://www.wcef2021.com/

About Lafarge Canada Inc.

Lafarge is Canada’s largest provider of sustainable construction materials and a member of the global group, Holcim. With 6,000 employees and 350 sites across Canada, our mission is to provide construction solutions and products that build progress for people and the planet. The cities where Canadians live, work, and raise their families along with communities’ infrastructure benefit from the sustainable portfolio provided by Lafarge, consisting of Aggregates, Asphalt and Paving, Cement, Precast Concrete, Ready-Mix Concrete, and Road Construction.

Contacts

For media inquiries, please contact Anna Salomao, Communications Manager, at anna.salomao@lafargeholcim.com