CALGARY, Alberta, April 10, 2019 (GLOBE NEWSWIRE) -- via NetworkWire – The oil and gas capital of Canada is now a hub for the greening of the Caribbean and South Pacific. Two major projects have been awarded to Calgary-based Archer Cleantech Inc. (“Archer” or the “Company”), an international project generator in the green energy space with a portfolio of projects at various stages of development. “First of many in very lucrative regions,” says Archer CEO Paul Blaha. The company is project rich with initiatives not only in Jamaica and American Samoa but in California, Mexico, Guam and Canada as well.
Archer has recently landed the project to cut power costs in half for hospitals in Jamaica through a combination of solar power and retrofitting obsolete infrastructure. The Company is also moving forward with a large wind, solar and battery storage project in American Samoa that will significantly impact the overall percentage of clean energy there while cutting the per-kilowatt-hour cost by as much as two-thirds.
An early stage company that is moving from three years of development into the execution stage, Archer is being managed on a day-to-day basis by a high-powered team led by Blaha.
In an episode of “Biz 1 on 1,” now available for viewing on the Biz 1 on 1 and BizTV websites (http://www.biz1on1.tv/interview/season-2-episode-5/ and http://www.biztv.com/) and airing in May on Amazon Prime Video Direct in the U.K. and U.S., Archer CEO Blaha and Founder/President Ron Loudoun tell the story of how a leading international wind, solar and battery storage project developer is growing out of a tiny office on the Red Mile in Calgary.
A former Bay Street investment banker who “went West, young man” to seek his fortune in the oil and gas business, Blaha instead was recruited by Atco, founded by iconic Alberta energy entrepreneur Ron Southern, and, in the 2000s, developed energy projects valued at over $3 billion for Atco.
“We are a smaller company playing in an industry that has big players,” explains Blaha. “What’s advantageous about that is that we can take our ideas and put them into play much more quickly because we are more nimble and flexible. A lot of the big players don’t want to be in the front end of the business. That’s our sweet spot. What we do better than anyone else is de-risk the projects.”
Archer is also leading the development project to build one of the world’s largest battery storage facilities in California, where the state is committed to closing nuclear plants but is already experiencing brownouts. “It’s going to be a very significant solution in a very exciting market,” says Blaha.
The Company has also created its own wholly owned finance subsidiary and is expecting to launch an initial $500 million Green Bond Fund later this year.
Renewable energy is an essential part of today’s energy mix and is poised to become the major source of new energy supply in this century. It is directly competitive with fossil fuels now. Last year was the eighth in a row that global investment in renewables exceeded US$200 billion.
About Archer Cleantech Inc.
Archer Cleantech is committed to capturing a significant share of the growth in the renewable market and has set a goal to develop and acquire 500 Megawatts by 2025. The primary method of this growth will be through securing renewable energy projects and advancing these projects through feasibility and then to divestiture or to operations. For more information, visit the company’s website at www.ArcherCleantech.com
For more information, contact:
Dave Ashby, Investor Relations
250-878-7333
dave.ashby@archercleantech.com
Or
Ron Loudoun, President and Co-founder 778-839-7373
ron.loudoun@archercleantech.com
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