FLO teams with Imperial to support Canada's emissions reduction goals

  • FLO plans to expand its electric vehicle charging network in Canada
  • Includes opportunity for Esso- and Mobil-branded gas stations to offer FLO charging services

FLO, a leading North American electric vehicle charging network, and Imperial (TSE: IMO, NYSE American: IMO) announced a unique collaboration that will support Canada's net zero greenhouse gas (GHG) emissions goals by expanding FLO charging network for electric vehicles.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221020005198/en/

(Photo: Business Wire)

(Photo: Business Wire)

"Our collaboration with Imperial is noteworthy—involving two major players in Canada's energy sector in support of furthering Canada's goal of net-zero carbon emissions by 2050," said Louis Tremblay, president and CEO of FLO. "Importantly, the agreement will generate financial benefits that will allow FLO to expand its EV charging station deployments, propelling our goal of transforming Canada's mobility future. We're thrilled with this agreement, and eager to bring Canadians more reliable EV charging solutions nationwide."

"Canada has clearly defined policies that support lower-emissions solutions and deployment of new technologies," said Jon Wetmore, Imperial's vice president of downstream. "Our collaboration with FLO will complement other Imperial GHG emission-reduction efforts, including plans to produce and supply lower-emission fuels, next-generation resource recovery technologies and carbon capture."

Key components of the collaboration include jointly developing a charging service option for Imperial's Esso- and Mobil-branded wholesalers, and an agreement to transfer credits under federal Clean Fuel Regulations.

About FLO
FLO is a leading North American electric vehicle (EV) charging network operator and a smart charging solutions provider. We fight climate change by accelerating EV adoption through a vertically integrated business model and delivering EV drivers the most dependable charging experience from curbside to countryside. Every month, we enable more than 900,000 charging events thanks to over 70,000 fast and level 2 EV charging stations deployed at public, private and residential locations. FLO operates across North America and our high-quality charging stations are assembled with care in Michigan and Quebec. To learn more about what "EV charging done right" means to us, visit flo.com .

About Imperial
After more than a century, Imperial continues to be an industry leader in applying technology and innovation to responsibly develop Canada's energy resources. As Canada's largest petroleum refiner, a major producer of crude oil, a key petrochemical producer and a leading fuels marketer from coast to coast, our company remains committed to high standards across all areas of our business.

Cautionary Statements

Statements of future events or conditions in this report, including projections, targets, expectations, estimates, and business plans are forward-looking statements. Forward-looking statements can be identified by words such as propose, plan, project, estimate, expect, may, should, will and similar references to future periods. Forward-looking statements in this report include, but are not limited to, references to the ability to expand EV charging station deployments and the transfer of credits; any financial benefits resulting from the collaboration; the impact on Canada's net zero GHG emissions goals; and complementing other Imperial GHG emission-reduction efforts, including plans for lower-emission fuels, next-generation resource recovery technologies and carbon capture.

Forward-looking statements are based on the company'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, foreign exchange rates and general market conditions; project plans, timing, costs, technical evaluations and capacities, and the companies' ability to effectively execute on these plans, including with respect to lower-emission fuels, next-generation resource recovery technologies and carbon capture; the ability to deploy EV charging stations; the adoption and impact of new facilities or technologies on capital efficiency, production and reductions to greenhouse gas emissions intensity; the amount and timing of emissions reductions; that any required support from policymakers and other stakeholders for various new technologies will be provided; applicable laws and government policies, including taxation and with respect to climate change and greenhouse gas emissions reductions; receipt of regulatory approvals; and capital and environmental expenditures could differ materially depending on a number of factors. These factors include global, regional or local changes in supply and demand for oil, natural gas, petroleum and petrochemical products, electricity, feedstocks and other market or economic conditions and resulting demand, price, differential and margin impacts; the results of research programs and new technologies, including with respect to greenhouse gas emissions, 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; the receipt, in a timely manner, of regulatory and third-party approvals; availability and allocation of capital; failure or delay of supportive policy and market development for emerging lower emission energy technologies and EV charging stations; environmental regulation, including climate change and greenhouse gas regulation and changes to such regulation; availability and performance of third-party service providers; political or regulatory events, including changes in law or government policy, applicable royalty rates, tax laws, climate change and actions in response to COVID-19; unexpected technological developments; general economic conditions, including the occurrence and duration of economic recessions; and other factors discussed in the risk factors and management discussion and analysis of Imperial's most recent annual report on Form 10-K and subsequent interim reports on Form 10-Q.

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 and energy companies and some that are unique to Imperial Oil Limited. The companies' 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. The companies undertake no obligation to update any forward-looking statements contained herein, except as required by applicable law.

Source: Imperial

For further information:
FLO
media@flo.com
(418) 523-1828

Imperial  
Investor relations
(587) 476-4743

Media relations
(587) 476-7010

News Provided by Business Wire via QuoteMedia

IMO:CA,IMO
The Conversation (0)
Jupiter Energy (ASX:JPR)

Jupiter Energy


Keep reading...Show less
Source Rock Royalties (TSXV:SRR)

Source Rock Royalties Declares Monthly Dividend

Source Rock Royalties Ltd. ("Source Rock") (TSXV: SRR), a pure-play oil and gas royalty company with an established portfolio of oil royalties, announces that its board of directors has declared a monthly dividend of $0.0065 per common share, payable in cash on May 15, 2025 to shareholders of record on April 30, 2025.

This dividend is designated as an "eligible dividend" for Canadian income tax purposes.

Keep reading...Show less
Oil rig at sunset with "5 Top Canadian Mining Stocks" text overlay.

Top 5 Canadian Mining Stocks This Week: Tethys Petroleum Surges 122 Percent

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

While there was no new market data in Canada, south of the border the US Bureau of Labor Statistics released its March consumer price index (CPI) data on Friday (April 11). The all items CPI figures were down in March, posting a 2.4 percent year-over-year increase compared to the 2.8 percent recorded in February.

On a monthly basis, all items CPI rose just 0.1 percent, in contrast to the 0.2 percent of the month before.

Keep reading...Show less
Gas nozzle with hose forming a declining bar graph, symbolizing falling gas prices.

Oil Markets Buckle Under Tariff Pressure, Recession Fears Tank Prices

The global oil market is facing a sharp downturn as a wave of recession fears, aggressive trade policies and a surprise supply boost from OPEC+ collide to send prices tumbling to multi-year lows.

Although crude prices staged a modest recovery on Tuesday (April 8), the broader market trajectory remains grim, with Brent and West Texas Intermediate (WTI) crude now trading well below levels needed for profitable production in the US.

Oil prices have dropped precipitously since early April, reaching levels not seen since 2021 on April 4 soon after US President Donald Trump’s announcement of sweeping new tariffs on dozens of countries.

Keep reading...Show less
Alvopetro Announces March 2025 Sales Volumes

Alvopetro Announces March 2025 Sales Volumes

Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) announces March sales volumes of 2,580 boepd, including natural gas sales of 14.5 MMcfpd, associated natural gas liquids sales from condensate of 146 bopd and oil sales of 12 bopd, based on field estimates, bringing our average daily sales volumes to 2,446 boepd in Q1 2025, up 41% from Q4 2024.

Natural gas, NGLs and crude oil sales:

Corporate Presentation

Alvopetro's updated corporate presentation is available on our website at:
http://www.alvopetro.com/corporate-presentation .

Social   Media

Follow Alvopetro on our social media channels at the following links:

Twitter - https://twitter.com/AlvopetroEnergy
Instagram - https://www.instagram.com/alvopetro/
LinkedIn - https://www.linkedin.com/company/alvopetro-energy-ltd
YouTube - https://www.youtube.com/channel/UCgDn_igrQgdlj-maR6fWB0w

Alvopetro Energy Ltd. is deploying a balanced capital allocation model where we seek to reinvest roughly half our cash flows into organic growth opportunities and return the other half to stakeholders. Alvopetro's organic growth strategy is to focus on the best combinations of geologic prospectivity and fiscal regime. Alvopetro is balancing capital investment opportunities in Canada and Brazil where we are building off the strength of our Caburé and Murucututu natural gas fields and the related strategic midstream infrastructure.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

All amounts contained in this new release are in United States dollars, unless otherwise stated and all tabular amounts are in thousands of United States dollars, except as otherwise noted.

Abbreviations:

boepd

=

barrels of oil equivalent ("boe") per day

bopd

=

barrels of oil and/or natural gas liquids (condensate) per day

Mcf

=

thousand cubic feet

Mcfpd

=

thousand cubic feet per day

MMcfpd

=

million cubic feet per day

NGLs

=

natural gas liquids

Q1 2025

=

three months ended March 31, 2025

Q4 2024

=

three months ended December 31, 2024

BOE Disclosure . The term barrels of oil equivalent ("boe") may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet per barrel (6Mcf/bbl) of natural gas to barrels of oil equivalence is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. All boe conversions in this news release are derived from converting gas to oil in the ratio mix of six thousand cubic feet of gas to one barrel of oil.

SOURCE Alvopetro Energy Ltd.

Cision View original content: http://www.newswire.ca/en/releases/archive/April2025/03/c2450.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×