Bird River Resources and Divestco Announce Cogeneration Joint Venture to Generate Low-Cost Electricity
Bird River Resources Inc. (CSE:BDR) (“Bird River”) and Divestco Inc. (TSXV: DVT) (“Divestco”) today announced a cogeneration joint venture (the “Cogen”) which will convert natural gas to electricity via a boiler-turbine at an industry low cost of 1.4 cents per kilowatt hour (based on current natural gas spot prices). Regulatory approvals are in place for the Cogen system to feed up to 3 megawatts of electricity into the power grid. The Cogen has secured a reliable, long-term gas supply through a privately owned natural gas producer. Construction and implementation of the project is expected to take 4-5 months.