Minnova Renewable Energy Enters into MOU with the City of Flin Flon to Develop
Minnova Corp. Office: +1 647 985 2785
MCI:TSXV 217 Queen Street W., Suite 401
www.minnovacorp.ca Toronto, Ontario M5V 0R2
Minnova Renewable Energy Enters into MOU with the City of Flin Flon to Develop
Large Scale Green Hydrogen Production
NOT FOR DISSEMINATION INTO THE UNITED STATES
March 29, 2023, Toronto, Ontario – Minnova Corp. (TSXV: MCI, OTC Pink: AGRDF, "Minnova”
or the “Company”), is pleased to announce that our wholly owned subsidiary Minnova Renewable
Energy (“MRE”) and the City of Flin Flon have entered into a non -binding memorandum of
understanding (the “ MOU”) dated March 20, 2023 pursuant to which MRE and the City of Flin
Flon aim to promote the valuation and possible future development of large-scale green hydrogen
production based on renewable hydroelectric power . MRE and the City of Flin Flon will work
cooperatively to e valuate potential for the City of Flin Flon and surrounding communities to
become a northern trading hub for green hydrogen and hydrogen-based energy carriers.
Canada is a lready a large producer of h ydrogen use d primarily for oil refining, ammonia
production, methanol production and steel production. Virtually all this is grey hydrogen produced
from fossil fuels and releases significant CO 2 to the atmosphere1. Green hydrogen can be
produced from renewable hydroelectric power, which is a key part of the City’s and province of
Manitoba’s energy infrastructure advantage. Green hydrogen production in the vicinity of the City
of Flin Flon represents both an ambitious goal and a unique opportunity.
MRE will work with the City of Flin Flon and other stakeholders to i nitiate studies on green
hydrogen production and hydrogen-based energy carrier supply chain. Studies will evaluate and
address the challenges of large-scale green h ydrogen production and distribution and the
extended supply chain of conversion, storage and transport with the goal of providing actionable
recommendations to governments and industry to take full advantage of local infrastructure.
Gorden Glenn, CEO commented “ we are pleased to work with the City of Flin Flon and jointly
explore opportunities to repurpose the city’s significant northern infrastructure and take a leading
role in green hydrogen production in support of Canada’s Net Zero 2050 Greenhouse Gas
emissions commitment. Minnova completed a positive feasibility study on the restart of our 100%
owned PL Gold Mine located just 65 km northeast of the City of Flin Flon and are familiar with the
City’s infrastructure and commitment to innovation and rejuvenating its industrial base. Positive
worldwide discussions with communities, utilities and industry , as part of our MRE strategy to
produce green hydrogen, only serves to highlight the opportunity that Flin Flon has to leverage its
infrastructure to develop a significant green hydrogen hub to serve northern Manitoba’s future
zero carbon energy needs. Manitoba has always been a large scale, low cost electrical energy
producer. W orking closely with the C ity of Flin Flon, surroundin g communities and, other
Manitoban government agencies we are confident that we can expand Manitoba’s reputation as
an efficient, low CO2 emitting renewable energy producer.”
1 Layzell et al. (2020), Clean Energy Canada (2020), Decarbonizing the Canadian Chemical and Fertilizer Industry March 2023
Prepared by: Ollie Sheldrick, Program Manager, Clean Economy
Minnova Corp. Office: +1 647 985 2785
MCI:TSXV 217 Queen Street W., Suite 401
www.minnovacorp.ca Toronto, Ontario M5V 0R2
“We are very pleased to work with Minnova Renewable Energy in moving forward with green
hydrogen production in Flin Flon,” said Mayor George Fontaine. “This is one of many initiatives
we have underway that positions our city as an attractive option for green industries such as
Minnova, a company at the forefront of global energy transition.”
About Minnova Corp.
Minnova Corp. is an evolving cleantech company building a worldwide pipeline of green energy
projects. Our subsidiary, Minnova Renewable Energy, is focused on innovative carbon reduction
technologies such as the 3rd generation biomass gasification technology developed by DUMA
Engineering (2018) Inc. As of September 30, 2022 Minnova owns 50% interest in DUMA.
Acquisition of the remaining 50% interest will consist of a combination of cash payments and
shares and will be dependent on several conditions, including; a) long run test performance of the
demonstration plant to produce a 50% hydrogen content syngas, b) other techno -economic and
environmental considerations, and c) filing of patent applications. In addition to receipt of all
regulatory approvals.
Prior to 2021 Minnova Corp. has focused on the restart of its PL Gold Mine , which included
completion of a Positive Feasibility Study in 2018. The study concluded the restart of the PL Mine,
at an average annual production rate of 46,493 ounces over a minimum 5 -year mine life was
economically robust. Importantly the global resource remains open to expansion , as does the
reserve. The PL Gold Mine benefits from a short pre-production timeline forecast at 15 months, a
valid underground mining permit (Environment Act 1207E), an existing 1,000 tpd processing plant,
over 7,000 meters of developed underground ramp to -135 metres depth. The project is fully road
accessible and close to existing mining infrastructure in the prolific Flin Flon Greenstone Belt of
Central Manitoba.
About the City of Flin Flon
The City of Flin Flon is historically a mining hub with a highly skilled workforce and significant
industrial infrastructure. Recent closure of mining operations has created an opportunity for the
city to transition from a mining community to a green energy and innovation hub.
For more information please contact:
Minnova Corp.
Gorden Glenn
President & Chief Executive Officer
For further information, please contact Investor Relations at 647-985-2785 or
Visit our website at www.minnovacorp.ca
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Exchange) accepts responsibility for the adequacy or accuracy of this release.
Minnova Corp. Office: +1 647 985 2785
MCI:TSXV 217 Queen Street W., Suite 401
www.minnovacorp.ca Toronto, Ontario M5V 0R2
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