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Sustainability
Indigenous Partnership
CVW CleanTech has entered into an agreement with several First Nation and Métis communities, providing important opportunities for Indigenous communities to receive economic and governance participation in future CVW CleanTech projects.
Indigenous Participation
CVW CleanTech is pleased to partner with the Athabasca Chipewyan First Nation, Fort Chipewyan Métis Nation, Fort McKay Métis Nation, Fort McMurray 468 First Nation Economic Development Corporation, and the McMurray Métis. The deployment of CVW CleanTech’s technology would provide important environmental and socio-economic benefits to Indigenous communities of the Regional Municipality of Wood Buffalo.
Framework Agreement Details
The framework agreement provides a potential special purpose vehicle (“SPV”), to be owned by the First Nation and Métis communities:
- the opportunity to purchase a minimum 20% interest of a joint venture which would be established to deploy CVW™ hydrocarbon recovery and methane abatement technologies, and
- the opportunity to purchase a minimum 40% interest of a joint venture which would be established to deploy CVW™ mineral recovery technologies.
These investments aim to generate sustainable long-term cash flows for the Indigenous communities with the goal of providing the opportunity for true ownership and generational wealth creation.
In addition, the framework agreement provides the basis for the partner Indigenous communities to be provided an opportunity to participate in equity financings undertaken by CVW CleanTech to finance the potential joint venture as well as to participate in the governance of CVW CleanTech.
Quotes from Indigenous, Government, and Industry Partners
“We are grateful to the First Nation and Métis communities for trusting CVW CleanTech and our vital technology. Our hope is that our technology will spearhead a sustainable alternative to tailings ponds and will reduce future tailings risks and impacts.”
Akshay Dubey, CEO of CVW CleanTech
“Finding meaningful solutions to address important matters of great concern to our community including treatment of water is critical to leaving a sustainable environmental legacy for our children. We look forward to a successful partnership with CVW CleanTech that establishes the collaborative way we should be doing business in this region with impacted communities on environmental issues.”
Loretta Waquan, President, Fort McKay Métis Nation
“This announcement is a great example of the vision of a fairer future for every generation of Indigenous Peoples…Together, we are building a stronger, more inclusive future for all.”
George Chahal, MP, Calgary Skyview and Chair of the Standing Committee of Natural Resources
“I’m proud to acknowledge the importance of this groundbreaking technology…We’re excited to be part of this project and look forward to the positive impact it will have for our community and beyond.”
President Cardinal of Fort Chipewyan Métis Nation
“Collaborative partnerships advancing both economic reconciliation and environmental stewardship are an important step towards reconciliation. I would like to extend my congratulations to CVW CleanTech on this achievement and can’t wait to see what the future holds.”
Laila Goodridge, MP, Fort McMurray-Cold Lake, Alberta
“The agreement between CVW CleanTech and First Nations and Métis communities for CVW’s innovative tailings waste management technology will further Indigenous prosperity and economic opportunity in Alberta’s energy industry.”
Hon. Rick Wilson, MLA, Minister of Indigenous Relations, Alberta
“A project of this nature gives us the opportunity to provide long term sustainable revenue back to Fort McMurray #468 First Nation for programming and infrastructure development. We also feel that this technology will provide a viable option for Industry with the tailings problem in the Regional Municipality of Wood Buffalo.”
Ryan Coish, VP Corporate Development of Fort McMurray 468 First Nation Economic Development Corporation
“This region is a leader in responsible, sustainable development and this new agreement is another good example of this reality. This partnership also advances a commitment to reconciliation with Indigenous communities and businesses through a spirit of collaboration and meaningful participation at an important time for the people that call this region home.”
Sandy Bowman, Mayor of the Regional Municipality of Wood Buffalo, Alberta
“Our Nation has been calling on industry to find solutions to the tailings ponds and this technology provides a pathway to improved environmental performance including improved water management alongside emission reductions and tailings reclamation. We are looking forward to working alongside CVW CleanTech and other communities in the region to help deliver a tailings solutions for the industry and reduce the environmental impact of their operations.”
Chief Adam of Athabasca Chipewyan First Nation
“McMurray Métis Local 1935 is pleased to participate in this framework agreement as part of our commitment to environmental responsibility in the region and economic sustainability for our Local and Members. This advancement in the management of tailings promises significant progress on both fronts, and we look forward to the success of CVW CleanTech and this initiative.”
Kelly Myers, President, McMurray Métis Local 1935