Inter Pipeline Announces $10 Million Commitment to NAIT to Research Plastic Waste Reduction
10-year deal is largest applied research partnership in NAIT's history
EDMONTON, Nov. 26, 2019 /CNW/ - Inter Pipeline Ltd. ("Inter Pipeline") and The Northern Alberta Institute of Technology ("NAIT") today announced a new partnership to research opportunities to reuse and recycle plastic in Canada. The ten-year agreement, known as Plastics Research in Action ("PRIA"), will be funded by a $10 million commitment from Inter Pipeline, which represents the largest applied research partnership in NAIT's history.
PRIA will draw on NAIT's applied research expertise in the area of process engineering, process automation and environmental sustainability. Student researchers will also be involved.
"Our partnership with industry is fundamental to who we are as a polytechnic. This agreement showcases how NAIT plays a vital role in helping industry to find solutions to the problems they are facing. We are proud of our partnership with Inter Pipeline," said Dr. Glenn Feltham, President and Chief Executive Officer, NAIT.
"I'm confident that the researchers at NAIT will find new opportunities to help keep plastics out of our environment and extend their useful life" said Christian Bayle, President and Chief Executive Officer of Inter Pipeline. "Today in Canada, nearly 80 per cent of all post-consumer plastics end up in landfills. Inter Pipeline believes that innovative thinking is critical to addressing this complex societal issue and is very pleased to do its part through this long-term funding commitment."
Potential research projects include examining opportunities for plastic to be reused, thus retaining the value of the product, and supporting the ideals of a circular economy. Innovations could potentially help Canadians reuse and remanufacture materials, create new economic opportunities and benefit our environment. A portion of the applied research funding will also be dedicated to improving sustainable practices at Inter Pipeline's Heartland Petrochemical Complex.
Heartland Complex is being built to compete in a global marketplace. The polypropylene manufacturing process at Inter Pipeline's complex is estimated to generate 65% less greenhouse gas ("GHG") than the global average, and 35% less GHG than the North American average.
Inter Pipeline was a recipient of a federal investment made through the Strategic Innovation Fund, a program designed to attract and support high-quality business investments in Canada's most dynamic and innovative sectors. This commitment has allowed Inter Pipeline to invest in the skills of the future by increasing its number of co-op positions for post-secondary students, invest in increased opportunities for women in trades and continue investing in research and development, including efforts to reduce plastic waste.
About Inter Pipeline Ltd.
Inter Pipeline is a major petroleum transportation, natural gas liquids processing, and bulk liquid storage business based in Calgary, Alberta, Canada. Inter Pipeline owns and operates energy infrastructure assets in western Canada and Europe. Inter Pipeline is a member of the S&P/TSX 60 Index and its common shares trade on the Toronto Stock Exchange under the symbol IPL. www.interpipeline.com
The Northern Alberta Institute of Technology (NAIT) is a leading Canadian polytechnic, delivering education in science, technology and the environment; business; health and skilled trades. With nearly 40,000 credit and non-credit students and a 95 per cent employer satisfaction rate, NAIT grads are essential to the provincial economy. NAIT also contributes to Alberta's prosperity by helping business and industry become more competitive with Industry Solutions offered through its Productivity and Innovation Centre, including technology adoption, business and product innovation and industry-driven research. Recognized as one of Alberta's top employers, NAIT provides outstanding returns on investment for its graduates, partners, the provincial government and the people of Alberta.
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Certain information contained in this joint press release may constitute forward-looking statements within the meaning of applicable securities laws, including, but not limited to, statements by, or on behalf of, Inter Pipeline and NAIT relating to the anticipated benefits to be derived from the applied research partnership, the ability of Inter Pipeline to improve sustainability practices at HPC, the ability of HPC to compete in a global market place and the ability to produce PP pellets at HPC at GHG levels below the global and North American average. Readers are cautioned not to place undue reliance on forward-looking statements as they are subject to a number of assumptions and known and unknown risks and uncertainties that may cause the actual results, performance or achievements of Inter Pipeline or the applied research partnership to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. The forward-looking statements contained herein are made as of the date of this document, and, except to the extent required by applicable securities laws and regulations, neither Inter Pipeline nor NAIT assumes any obligation to update or revise forward-looking statements made herein or otherwise, whether as a result of new information, future events, or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary note.
SOURCE Inter Pipeline Ltd.