The CHA is delighted to welcome Imperial as a new Executive member
CALGARY, ALBERTA – The Canadian Hydrogen Association (CHA) is pleased to announce Imperial Oil Limited (Imperial) as a new Executive member.
As an integrated energy company, Imperial explores for, produces, refines and markets products essential to society. Whether it’s resource development, making and selling high-quality petroleum products, or investing in innovative research and technologies – Imperial’s business helps ensure Canada’s quality of life and energy future.
The company has established a Low Carbon Solutions business, focused on leveraging its unique capabilities to bring lower-emission technologies like renewable fuels, hydrogen and carbon capture and storage to market, helping customers meet their sustainability goals.
“Imperial is pleased to join the Canadian Hydrogen Association, which demonstrates our continued pursuit to potentially deliver hydrogen as a clean, scalable energy solution.” said Heather Eggleston, Vice President of Imperial Low Carbon Solutions. “Collaboration with technology providers, researchers, industry partners and governments are essential to advancing large-scale solutions that will enable modern life while reducing greenhouse gas emissions.”
In addition to exploring potential new technologies and business streams, Imperial is making important investments to reduce emissions. The company is currently constructing the largest renewable diesel facility in Canada at its Strathcona refinery in Edmonton, Alberta. The project has the potential to reduce greenhouse gas emissions in the Canadian transportation sector by about 3 million metric tons per year.
“The CHA is excited to welcome Imperial as an Executive member. The company is undertaking efforts to provide lower life-cycle emissions products to its customers and reducing the greenhouse gas emissions intensity of its own operations to meet its company-wide goal to achieve net-zero emissions (Scope 1 and 2) from its operated assets by 2050 through collaboration with government and industry partners,” said Ivette Vera-Perez, CEO of CHA. “Headquartered in Alberta, Imperial’s focus on low carbon solutions for hydrogen end users is an exciting opportunity to enhance the hydrogen ecosystem and deliver on our shared ambition to reduce emissions.”
For more information please visit: https://www.imperialoil.ca/en-ca
About the Canadian Hydrogen Association (CHA)
The Canadian Hydrogen Association (CHA) is a national association that supports industry, academia, government agencies, financial organizations and other stakeholders focused on hydrogen and fuel cell technologies and products. As the collective voice of Canada’s world-leading hydrogen and fuel cell sector, the CHA’s mission is to strengthen Canadian leadership, raise awareness of the benefits of the technology, and accelerate the adoption of its members’ products and services in Canada and abroad. The CHA currently has more than 170 members across Canada and regional branches in British Columbia, Quebec and Ontario. You can also follow CHA on Twitter at @PoweringNow or visit www.canadah2.ca for more information.
Forward-looking statements:
Statements of future events or conditions in this report, including business plans, commitments, focuses, and goals, are forward-looking statements. Similarly, discussion of roadmaps or future plans to reduce emissions and emission intensity of Imperial and third parties are dependent on future market factors, such as continued technological progress, policy support and timely rule-making and permitting, and represent forward-looking statements. Forward-looking statements in this report include, but are not limited to, references to Imperial’s company-wide net-zero goal (Scope 1 and 2) by 2050; the company’s Strathcona renewable diesel project, including potential reduction to greenhouse gas emissions; the focus and ambitions of Imperial’s business activities; and Imperial’s investments or business activities helping to reduce emissions or helping customers meet their sustainability goals.
Forward-looking statements are based on Imperial’s current expectations, estimates, projections and assumptions at the time the statements are made. Actual future financial and operating results, including expectations and assumptions concerning future energy demand, supply and mix; commodity prices and foreign exchange rates; production rates, growth and mix across various assets; production life, resource recoveries and reservoir performance; project plans, timing, costs, technical evaluations and capacities, and Imperial’s ability to effectively execute on these plans and operate its assets, including the Strathcona renewable diesel project; the adoption and impact of new facilities or technologies on reductions to greenhouse gas emissions intensity, including but not limited to Strathcona renewable diesel, carbon capture and storage including in connection with hydrogen for the renewable diesel project, recovery technologies and efficiency projects and any changes in the scope, terms, or costs of such projects; for renewable diesel, the availability and cost of locally-sourced and grown feedstock and the supply of renewable diesel to British Columbia in connection with its low-carbon fuel legislation; that any required support from policymakers and other stakeholders for various new technologies such as carbon capture and storage will be provided; receipt of regulatory and third party approvals in a timely manner, especially with respect to large scale emissions reduction projects; applicable laws and government policies, including with respect to climate change, greenhouse gas emissions reductions and low carbon fuels; capital and environmental expenditures; and general market conditions, could differ materially depending on a number of factors.
These factors include environmental regulation, including climate change and greenhouse gas regulation and changes to such regulation; government policies supporting lower carbon investment opportunities; failure, delay or uncertainty regarding supportive policy and market development for the adoption of emerging lower-emission energy technologies and other technologies that support emissions reductions; the receipt, in a timely manner, of regulatory and third-party approvals, including for new technologies that will help Imperial meet its lower emission goals; global, regional or local changes in supply and demand for oil, natural gas, petroleum and petrochemical products, feedstocks and other market factors, economic conditions or seasonal fluctuations and resulting demand, price, differential and margin impacts; transportation for accessing markets; political or regulatory events, including changes in law or government policy, applicable royalty rates, tax laws including taxes on share repurchases; environmental risks inherent in oil and gas activities; third-party opposition to company and service provider operations, projects and infrastructure; availability and allocation of capital; availability and performance of third party service providers; unanticipated technical or operational difficulties; management effectiveness and disaster response preparedness; commercial negotiations; project management and schedules and timely completion of projects; unexpected technological developments; the results of research programs and new technologies, the ability to bring new technologies to commercial scale on a cost-competitive basis, and the competitiveness of alternative energy and other emission reduction technologies; reservoir analysis and performance; the ability to develop or acquire additional reserves; operational hazards and risks; cybersecurity incidents; currency exchange rates; the occurrence, pace, rate of recovery and effects of public health crises, including the responses from governments; general economic conditions, including inflation and the occurrence and duration of economic recessions or downturns; and other factors discussed in Item 1A Risk factors and Item 7 Management’s discussion and analysis of financial condition and results of operations in Imperial’s most recent annual report on Form 10-K.
Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique to Imperial. Imperial’s actual results may differ materially from those expressed or implied by its forward-looking statements and readers are cautioned not to place undue reliance on them. Imperial undertakes noobligation to update any forward-looking statements contained herein, except as required by applicable law.
Imperial’s company-wide net-zero goal (Scope 1 and 2) by 2050 is backed by a comprehensive approach centered on detailed emission-reduction roadmaps for its major operated assets. Roadmaps may be updated as needed to reflect technology, policy and other developments, including the development and acquisition of major operated assets. The reference case for planning beyond 2030 is based on Exxon Mobil Corporation’s Global Outlook (the Outlook) research and publication. The Outlook is reflective of the existing global policy environment and an assumption of increasing policy stringency and technology improvement to 2050. However, the Outlook does not attempt to project the degree of required future policy and technology advancement and deployment for the world or the company, to meet net zero by 2050. As future policies and technology advancements emerge, they will be incorporated into the Outlook, and Imperial’s business plans will be updated accordingly.
