Winnipeg, MB, February 8, 2024 — EnerPure Inc. (“EnerPure” or the “Company”), a Manitoba cleantech company, is pleased to announce Rachel Carroll has been appointed as an independent member of its Board of Directors as the Company continues to grow and evolve. EnerPure has successfully developed and validated its patented process and technology through its Manitoba Pilot Plant. This technology efficiently recycles used motor oil into a superior marine fuel that exceeds the stringent IMO 2020 Regulations and the ISO 8217:2017 marine fuel standard. The Company has recycled over two million litres of used motor oil with sales to the world’s largest container shipping company.
Todd Habicht, CEO and Founder commented: “As EnerPure aims to broaden its reach by establishing new facilities across North America, the appointment of Ms. Carroll as an independent director is a strategic enhancement to its governance to support EnerPure’s objective of delivering twenty-one recycling plants in six years. This expansion is expected to remove approximately three-quarters of a million tonnes of greenhouse gases by 2029 and each plant is projected to yield an internal rate of return (IRR) of 43%.”
Rachel Carroll commented, “EnerPure’s innovative recycling plants are crucial in the maritime industry’s efforts to reduce its carbon footprint. EnerPure’s process not only produces marine fuel with lower carbon intensity but also recycles used motor oil, tackling a significant environmental concern. I am honoured to join the board, where I look forward to supporting EnerPure’s growth and steadfast commitment to environmentally-conscious technology.”
About Rachel Carroll
Ms. Carroll brings a wealth of experience, with twenty-five years in professional roles, including sixteen in executive positions. Her previous roles have included serving as President, Managing Partner, and Global Head of Investor Relations at Edison Group, where she led the firm’s advisory division between New York and London, advising publicly traded and private companies on strategies to access growth capital and best practices in stakeholder relations.
As Vice President of an energy technology company, Ms. Carroll navigated the firm through a successful listing on a US exchange and numerous financings as head of investor, government, and public relations. Ms. Carroll currently acts as a senior advisor to a $5 billion Nasdaq-listed investment firm and is an advisory board member for a leading European business school and Regional Chair of the school’s alumni association in North America.
About the Company
“We recycle Used Motor Oil (UMO) to reduce GHG while producing a lower carbon-intensive marine fuel.”
Globally over 26 billion litres of UMO1 are generated each year with approximately 80% of global waste oil being either burnt or dumped. EnerPure has developed a patented process and technology that solves this problem. Based on proven technology, but deployed on a scale not seen before, our micro-scale recycling plants can solve this problem due to its small footprint and low capital requirements.
Our technology has been proven via our full-scale pilot & demonstration plant and is now ready for deployment to start building a truly sustainable energy system within our generation, while preserving the global economy. Our marine fuel product is already in high demand due to meeting the exacting standards of the ISO 8217:2017 marine fuel standard while delivering a carbon intensity that is 8-14% lower than marine fuel produced from crude oil.
1UMO is defined as any petroleum-based or synthetic lubricating oil that cannot be used for its original purpose due to contamination.
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Disclosure and Caution
This press release may contain certain disclosures that may constitute “forward-looking statements” within the meaning of Canadian securities legislation. In making the forward-looking statements, the Company has applied certain factors and assumptions that the Company believes are reasonable. However, the forward-looking statements are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
The securities referred to in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.