Shell Canada Energy and Kitselas Geothermal Inc. have Entered into a Joint Development Agreement to Develop the M’deek Geothermal Reservoir Near Terrace, BC

Kitselas Geothermal Inc. (Kitselas Geothermal), a majority owned Indigenous company between Kitselas Development and Borealis Geothermal (Borealis), is pleased to announce that a Joint Development Agreement (JDA) with Shell Canada Energy (Shell Canada) takes effect on July 29, 2022. The JDA supports de-risking and appraisal of the geothermal resource in the Terrace, British Columbia area, after which each party will take a decision on further development. Through entering into this agreement, Kitselas Geothermal and Shell Canada hope to build greater understanding of the potential for geothermal energy and support development of renewable green energy in Northwest BC, including ‘direct-use’ of the heat.
 
Kitselas Geothermal’s vision is to supply renewable, industrial heating alternatives in the Terrace area. Economic self-determination for Kitselas First Nation via long-term heat purchase agreements is a goal of the project.
 
Kitselas Geothermal’s chair, Dr. David Try, PhD, says, “First Nations, for thousands of years, made use of ‘direct’ geothermal energy in this region. Exploring the potential for commercial energy - clean, sustainable, responsible, and reliable is a natural step.”

Kitselas Geothermal’s CEO, Alison Thompson, says, “The opportunity to continue this project, to test, derisk and progress the geothermal heat potential in the Terrace region under this JDA is a key milestone. We are proud of the significant sub-surface, regulatory and stakeholder relations contributions that Borealis has made as the project’s development and exploration technology partner in Western and Northern Canada’s unique geologic setting. Today marks the point in the project where Kitselas Geothermal and Shell Canada will begin to work and learn together in this project.”

Shell Canada’s Geothermal Business Opportunity Manager, Sarah Kassam, says, “Globally, Shell is investing in renewable energy as part of our Powering Progress strategy, which includes a target to become a net-zero energy business by 2050. Through signing the JDA with Kitselas Geothermal, Shell Canada hopes to build a greater understanding of the potential for geothermal energy and to support renewable energy development with Kitselas Geothermal in the Terrace, BC region.”

About Kitselas Geothermal: Kitselas Geothermal is controlled by Kitselas Development Corporation, the economic arm of the Kitselas First Nation. Kitselas First Nation, through Kitselas Geothermal, is proudly positioned to provide near-term clean energy solutions into the Terrace region. Borealis Geothermal is their technology partner and minority shareholder: www.kitselasgeo.ca

About Borealis Geothermal: Borealis is Canada’s leading expert in fault-controlled geothermal energy and provides development support to projects in this and other geologic settings in Canada: www.borealisgeothermal.ca

About Shell Canada: Shell Canada is an integrated energy company in Canada with all of Shell’s global businesses represented, including Upstream, Integrated Gas, Downstream, and Renewables and Energy Solutions. That means we do everything from exploration, gas production, refining and manufacturing, to providing fuels and developing low-carbon energy solutions for our customers: www.shell.ca