NEWS UPDATES

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GLOBAL

GERMANY TO MANDATE EV CHARGERS AT ALL GAS STATIONS

BRITISH ENERGY COMPANY TO ACQUIRE PINNACLE RENEWABLE ENERGY

FORD WILL BE ALL-ELECTRIC IN EUROPE BY 2030

Germany will require every gas station in the country to install electric car charging stations. Reuters reported that the requirement is included in a $146 billion economic recovery plan that's come about in the wake of the coronavirus pandemic.

British energy company Drax has agreed to acquire Pinnacle at a price of C$11.30 per share, valuing Pinnacle at C$385 million. The acquisition brings together Drax, which owns the world’s largest sustainable biomass power station in the UK, with Pinnacle, one of the leading global producers of high-quality compressed wood pellets. This Canadian-UK combination will be positioned as the world’s leading sustainable biomass supply and power generation business.

Ford is vowing to convert its entire passenger vehicle lineup in Europe to electric power by 2030 in just the latest sign of the seismic technological changes sweeping the auto industry. Ford will spend $1 billion to revamp its factory in Cologne, Germany and make it a base for production of battery powered cars using Volkswagen's mechanical framework, said Stuart Rowley, president of Ford of Europe.

PERMITS APPROVED FOR ENBRIDGE TUNNEL UNDER GREAT LAKES

DAKOTA ACCESS PIPELINE DECISION DELAYED

Michigan’s environmental agency is approving the construction of an underground tunnel to house a replacement for the oil pipeline in the Great Lakes. State officials say the tunnel is a separate issue from the fight over the existing line. State officials have awarded permits to Enbridge for the $500-million tunnel project. The company is resisting Democratic Gov. Gretchen Whitmer's order to shut down Enbridge's Line 5 in the Straits of Mackinac, which connects Lake Huron and Lake Michigan.

The Biden administration will get more time to decide the fate of the Dakota Access Pipeline. In a filing this month, the government asked a court to postpone a conference on the status of the pipeline for 58 days while it gets new officials up to speed on the case.

NATIONAL

EV BATTERY TECH ANNOUNCES PARTNERSHIP WITH DAYMAK Extreme Vehicle Battery Technologies Corp. announced that on February 5, 2021, the Company entered into a partnership agreement with Daymak International Inc., Canadas #1 distributor of light electric vehicles1 ("LEVs"). Daymak has sold over $100 million of LEVs, of which an estimated 30% of their production cost goes into the battery systems. Pursuant to the Agreement, the Company will become the exclusive provider of batteries and battery packs used in Daymak's products.

WESTERN REGION

FEDERAL GOVERNMENT FUNDING EV CHARGER IN TWO CANADIAN CITIES Minister of Natural Resources announced funding to encourage the adoption of zero-emission vehicles (ZEV), by providing more charging options to charge their vehicles. In Manitoba, $50,000 in funding has been announced to install one of the first electric vehicle (EV) fast chargers in the City of Dauphin. In B.C, a $200,000 investment has been announced to install four electric vehicles (EV) fast chargers at the Nanaimo Airport. SHELL, SELLING ALBERTA SHALE OIL ASSETS Royal Dutch Shell is further reducing its exposure to the Alberta oilpatch with a deal to sell producing light oil shale assets there to Calgary-based Crescent Point Energy Corp. for $900 million.

The purchase allows Crescent Point to add a new core area to its main assets in Saskatchewan and will boost its 2021 production estimate to about 134,000 boe/d, mainly highly profitable crude oil and petroleum liquids.

CALGARY OIL COMPANY FILES $400-MILLION LAWSUIT AGAINST ALBERTA GOVERNMENT

An oil company is suing the Alberta government for $400-million, arguing public officials strung it along as it sought approval for an oil sands project while they worked behind the scenes to thwart the development.

It’s the second time Calgary-based Prosper Petroleum Ltd. has taken the government to court over its proposed Rigel project, which would produce around 10,000 barrels of oil a day near the Fort McKay First Nation, about 65 kilometres northwest of Fort McMurray.

TOYOTA, LYFT OFFER HYDROGEN-POWERED VEHICLES FOR VANCOUVER

Toyota Motors Corp. and Lyft Inc. said on Wednesday they have launched a partnership to provide some ride-hail drivers in Vancouver with access to hydrogen-powered Mirai sedans. Lyft drivers in the city will be able to rent one of 24 Mirais for $198 a week, a price described as extremely competitive by Lyft's general manager for British Columbia, Peter Lukomskyj.

ONTARIO / QUÉBEC REGION

FEDERAL EV CHARGING INVESTMENT ANNOUNCED IN ONTARIO

Chris Bittle, Member of Parliament for St. Catharines, on behalf of the Honourable Seamus O'Regan Jr., Canada's Minister of Natural Resources, announced a $235,000 investment to install 20 electric vehicles (EV) chargers at Brock University in the Niagara region.

7-ELEVEN PLANS TO SERVE ALCOHOL IN ONTARIO According to the Alcohol and Gaming Commission of Ontario (AGCO) website, there were 61 applications filed for store locations in various municipalities. In a statement issued on Tuesday, the company shared plans to have a small selection of Ontario-made beer and wine for sale. The applications, according to 7-Eleven, were filed after the Ontario government decided to extend beer and wine retailing to convenience stores. IRVING OIL REQUEST FOR PETROLEUM PRICE HIKES DENIED BY THE ENERGY BOARD In a firm rejection of Irving Oil's request for urgent increases in petroleum wholesale margins, New Brunswick's Energy and Utilities Board ruled Wednesday that the company will have to wait for a full hearing in April to argue its case.

March 10th at 2 pm with the

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