Entropy Inc. commissions the Glacier co-generation, carbon capture and storage project delivering first-of-kind low-carbon natural gas and low-carbon power

CALGARY, AB, July 30, 2026 /PRNewswire/ -- Entropy Inc. ("Entropy" or the "Corporation"), a subsidiary of Advantage Energy Ltd. ("Advantage"), is pleased to provide a corporate update on the construction, commissioning and commercial operations of the Glacier co-generation, carbon capture and storage project ("Glacier Phase 2").

Glacier Phase 2 provides a new 15 MW co-generation installation with fully integrated carbon capture, transportation and storage for both the co-generation gas turbine and approximately 30 MW of reciprocating engines that drive compression at Advantage's Glacier Gas Plant in Saddle Hills County, Alberta. The project builds on earlier phases of commercial capture systems operating since 2022 and integrates CCS on a total of 45 MW across both gas compression and power generation. 

"We are proud of the work our team and service providers have done to safely bring Glacier Phase 2 online right on schedule," said Sanjay Bishnoi, Chief Executive Officer of Entropy. He added, "This first-of-a-kind asset will provide reliable, baseload, low-carbon power to our customer, Advantage, and sell merchant power to the AESO system. As demand for reliable, low-emission electricity grows, we believe Glacier Phase 2 will mark an important milestone for industry."

All major construction is complete and all equipment at the facility has been commissioned.

Key highlights of Glacier Phase 2 project execution and completion include:

• A 15 MW Solar T130 turbine has been installed, representing a key step in delivering reliable low-carbon power from natural gas with CCS.
• Electricity is being sold to Advantage under a 15-year power purchase agreement for 6 MW at a price of $85/MWh. A third-party process engineering firm has calculated the design-basis carbon intensity of the electricity at 84 kg/MWh, using a lifecycle assessment approach.
• Glacier Phase 2 will materially reduce emissions from the Glacier Gas Plant while supplying low-carbon power to site operations and exporting surplus power to the Alberta Electric System Operator (AESO) grid.
• All material unabated emissions sources at the Glacier Gas Plant will be captured using Entropy's industry-leading CCS technology, targeting CO₂ removal rates of over 90%.
• Including prior phases, total CO₂ capture capacity is targeted on 45 MW from eleven gas-fired engines (30 MW) plus one gas-fired power generation turbine (15 MW) for capture and sequestration of 192,000 tonnes per annum (tpa) of CO₂.
• Over 250,000 exposure hours were worked without a serious incident, completing extensive work at heights and executing multiple critical lifts safely and successfully.

"We extend a huge thanks to our valued vendors and to the team at Advantage. By aligning schedules and working collaboratively, we eliminated bottlenecks and successfully installed all plant-to-plant interconnects within the strict three-week Glacier Gas Plant turnaround, all with zero impact on daily operations." — James Martin, COO, Entropy.

Ongoing operations and commercial offering:

With commissioning complete, Entropy is now bringing the facility to steady-state operation. Entropy expects to publish verified performance data for Glacier Phase 2 in the coming months. That data will be measured and reported through EntropyIQ, the Corporation's real-time carbon measurement, performance and accounting system that quantifies captured CO₂ from process measurements and traces every tonne from flue-stack to wellhead.

"It's great to see Entropy's success with Glacier Phase 2 operating as the first post-combustion CCS system on a gas turbine for power generation. Their technology and business model provide a low-carbon solution that is highly scalable to help meet today's growing demand for clean, firm power," said Jarad Daniels, CEO of the Global CCS Institute. "It's encouraging to see this phase of the project online, demonstrating that CCS can support both climate goals and long-term competitiveness," added Daniels.

Policy Framework:

Over the past year, there have been several announcements from provincial and federal governments that help provide greater clarity on the role of emissions regulations and carbon policy that underpin CCS in reducing industrial emissions in Canada.

Many announced policy positions are essential to keeping the cost of delivering CO₂ reductions at a minimum for industry and consumers. This includes the Federal Carbon Capture Utilization and Storage Investment Tax Credit ("CCUS ITC"), the Alberta Carbon Capture Utilization and Storage Investment Program ("ACCIP"), and the Saddle Hills County Carbon Capture Tax Incentive Bylaw.

The CCUS ITC and ACCIP are critical components of the economics supporting Entropy's project portfolio. Entropy has invested more than $250 million across multiple CCS projects in Canada that are currently progressing through the NRCan and CRA review process. While we remain supportive of the program and its objectives, review timelines have been significantly longer than anticipated and budgeted, with no ITC or ACCIP proceeds received to date.

Entropy is committed to working diligently with the federal departments administering the CCUS ITC to improve administration; however, these delays result in increased financing costs, reduced certainty for project developers and investors, and weakened effectiveness of the incentive. As Canada looks to advance larger-scale carbon capture projects, predictable and timely administration of the CCUS ITC program will be essential to supporting future investment decisions and attracting capital.

About Entropy Inc.

Entropy's focus is to provide solutions and partnerships for industry to decarbonize large-scale industrial sites. Entropy builds carbon infrastructure, produces low-carbon power, and enables its customers to bring low-carbon products to market. The Corporation develops, owns, and operates carbon capture and storage assets across the full value chain, from capture and transport through permanent geological storage and measurement, and produces clean, firm power from natural gas with carbon capture. Its development pipeline spans power, fuels, and industry.

Entropy has operated commercial carbon capture at its Glacier facility in Alberta since 2022, one of the longest continuous commercial post-combustion capture records in the industry. Its iCCS™ technology and EntropyIQ carbon accounting platform make every tonne of captured CO₂ measured, traceable, and bankable, giving industrial producers, oil and gas operators, power generators, and clean power off-takers a single accountable partner for reliable and financeable decarbonization.

Entropy is supported by strategic investment from Advantage Energy Ltd., Brookfield Asset Management and the Canada Growth Fund. Further information is available at www.entropyinc.com.

Forward-Looking Information and Advisory

All references in this press release are to Canadian dollars unless otherwise indicated.

The information in this press release contains certain forward-looking statements, including within the meaning of applicable securities laws. These statements relate to future events or our future intentions or performance. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "continue", "demonstrate", "expect", "may", "call for", "can", "will", "believe", "would" and similar expressions and include statements relating to, among other things: the anticipated timing of commercial operations of Glacier Phase 2; the expected performance of Glacier Phase 2, including targeted capture rates and anticipated emissions reductions; the anticipated amount of CO₂ captured, stored and permanently sequestered; the timing and results of future performance disclosure; the supply of low-carbon electricity to site operations and the export of surplus power to the AESO grid; and the benefits of the deployment of Entropy's technology. Entropy's actual decisions, activities, results, performance or achievements could differ materially from those expressed in, or implied by, such forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do, what benefits Entropy will derive from them.

With respect to forward-looking statements contained in this press release, Entropy has made assumptions regarding, but not limited to: that the government will provide additional clarity on the federal investment tax credit and carbon price certainty; conditions in general economic and financial markets; effects of regulation by governmental agencies; current and future commodity prices and royalty regimes; future exchange rates; future royalty rates; future operating costs; availability of skilled labour; the impact of increasing competition; the anticipated amount of CO₂ captured, stored and offset; that Entropy will have sufficient financial resources required to fund its capital and operating expenditures and requirements as needed; that Entropy will have the ability to develop its technology in the manner currently contemplated; that current or, where applicable, proposed assumed industry conditions, laws and regulations will continue in effect or as anticipated; and that the anticipated benefits and results from Entropy's technology are accurate in all material respects. Readers are cautioned that the foregoing list of factors is not exhaustive.

These statements involve substantial known and unknown risks and uncertainties, certain of which are beyond Entropy's control, including, but not limited to: changes in general economic, market and business conditions; industry conditions; changes in tax laws and incentive programs; competition; the lack of availability of qualified personnel or management; intellectual property and patent risks; credit risk; changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced; ability to comply with current and future environmental or other laws; failure to achieve the anticipated benefits and results of Entropy's technology; failure to achieve the anticipated benefits of Entropy's relationships with third parties; and the ability to obtain required approvals of regulatory authorities.

Entropy's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits Entropy will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive. These forward-looking statements are made as of the date of this news release and Entropy disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events, results or otherwise, other than as required by applicable securities laws.

The following abbreviations and terms used in this press release have the meanings set forth below:

SOURCE Entropy Inc.