Skip to main content
The Globe and Mail
Support Quality Journalism.
The Globe and Mail
First Access to Latest
Investment News
Collection of curated
e-books and guides
Inform your decisions via
Globe Investor Tools
Just$1.99
per week
for first 24 weeks

Enjoy unlimited digital access
Enjoy Unlimited Digital Access
Get full access to globeandmail.com
Just $1.99 per week for the first 24 weeks
Just $1.99 per week for the first 24 weeks
var select={root:".js-sub-pencil",control:".js-sub-pencil-control",open:"o-sub-pencil--open",closed:"o-sub-pencil--closed"},dom={},allowExpand=!0;function pencilInit(o){var e=arguments.length>1&&void 0!==arguments[1]&&arguments[1];select.root=o,dom.root=document.querySelector(select.root),dom.root&&(dom.control=document.querySelector(select.control),dom.control.addEventListener("click",onToggleClicked),setPanelState(e),window.addEventListener("scroll",onWindowScroll),dom.root.removeAttribute("hidden"))}function isPanelOpen(){return dom.root.classList.contains(select.open)}function setPanelState(o){dom.root.classList[o?"add":"remove"](select.open),dom.root.classList[o?"remove":"add"](select.closed),dom.control.setAttribute("aria-expanded",o)}function onToggleClicked(){var l=!isPanelOpen();setPanelState(l)}function onWindowScroll(){window.requestAnimationFrame(function() {var l=isPanelOpen(),n=0===(document.body.scrollTop||document.documentElement.scrollTop);n||l||!allowExpand?n&&l&&(allowExpand=!0,setPanelState(!1)):(allowExpand=!1,setPanelState(!0))});}pencilInit(".js-sub-pencil",!1); // via darwin-bg var slideIndex = 0; carousel(); function carousel() { var i; var x = document.getElementsByClassName("subs_valueprop"); for (i = 0; i < x.length; i++) { x[i].style.display = "none"; } slideIndex++; if (slideIndex> x.length) { slideIndex = 1; } x[slideIndex - 1].style.display = "block"; setTimeout(carousel, 2500); } //

Parkland Fuel Corp TSX: PKI-T

Today's Change
Volume
Real-Time Last Update TSX Last Sale

More stories below advertisement

Parkland sets new low carbon fuel production record at its Burnaby Refinery and targets 125 percent annual production growth in 2021

GlobeNewswire - Wed Feb 17, 7:30PM CST

Parkland Corporation ("Parkland", "we", the "Company", or "our") (TSX:PKI.TO) today announced it co-processed approximately 44 million litres of Canadian-sourced canola and tallow bio-feedstocks in 2020 and aims to increase this to up to 100 million litres in 2021.

"Our Refinery is focused on delivering the essential fuels our customers depend on, but with lower carbon intensity," said Ryan Krogmeier, SVP Supply, Trading, Refining and Health, Safety and Environment. "This is a made in Canada success story. We continue to ramp-up our use of Canadian bio-feedstocks and scale our innovative co-processing capabilities. In addition to providing our British Columbia customers with low carbon gasoline, diesel and jet fuel, we are growing a competitive advantage that will win new business and drive organic growth."

Our Burnaby Refinery was the first facility in Canada to use existing infrastructure and equipment to co-process bio-feedstocks such as canola oil, and oil derived from animal fats (tallow) alongside crude oil to produce low carbon fuels. The resulting co-processed low carbon fuels have less than one eighth of the carbon intensity of conventional fuels.

A trajectory of co-processing growth

Underpinned by our commitment to a lower carbon future, low capital investments and work completed during the Refinery turnaround in 2020, we co-processed approximately 44 million litres of Canadian-sourced canola and tallow bio-feedstocks in 2020, marking an almost 140 percent increase from 2019.

In 2021, we aim to co-process up to 100 million litres of bio-feedstocks and offer our customers a variety of low carbon fuels, including an up to 15 percent renewable content diesel. The annual environmental benefit of producing our low carbon fuels in 2021 is expected to be the equivalent of taking over 80,000 passenger vehicles off the road.

We look forward to partnering with Government and Industry to expand our low carbon fuel capabilities and help position Canada and British Columbia to meet its low carbon commitments and become global leaders in low carbon technologies.

About Parkland Corporation

Parkland is an independent supplier and marketer of fuel and petroleum products and a leading convenience store operator. Parkland services customers across Canada, the United States, the Caribbean region and the Americas through three channels: Retail, Commercial and Wholesale. Parkland optimizes its fuel supply across these three channels by operating and leveraging a growing portfolio of supply relationships and storage infrastructure. Parkland provides trusted and locally relevant fuel brands and convenience store offerings in the communities it serves.

Parkland creates value for shareholders by focusing on its proven strategy of growing organically, realizing a supply advantage and acquiring prudently and integrating successfully. At the core of our strategy are our people, as well as our values of safety, integrity, community and respect, which are embraced across our organization.

Forward Looking Statements

Certain statements contained in this news release constitute forward-looking information and statements (collectively, "forward-looking statements"). In particular, this news release contains forward-looking statements with respect to, among other things: Parkland's 2021 target for co-processing bio-feedstocks at the Burnaby Refinery; the expected environmental benefit of Parkland's co-processing bio-feedstock in 2021; Parkland's continued development and advancement in lower carbon intensity fuels and technologies; and the benefits Parkland expects from advancing its co-processing technologies, including potential new business and organic growth.

These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These forward-looking statements speak only as of the date of this news release. Parkland does not undertake any obligations to publicly update or revise any forward-looking statements except as required by securities law. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks and uncertainties including, but not limited to, general economic, market and business conditions; the ability of suppliers to meet commitments; unexpected delays or refinery shutdowns that affect Parkland's ability to achieve its bio-feedstock co-processing targets in this press release; actions by governmental authorities and other regulators; changes and developments in regulations; and other factors, many of which are beyond the control of Parkland. See also the risks and uncertainties described in "Forward-Looking Information" and "Risk Factors" included in Parkland's Annual Information Form and in "Forward-Looking Information" and "Risk Factors" in Parkland's quarterly and annual MD&A, each as filed on SEDAR and available on the Parkland website at www.parkland.ca.

For Further Information

Parkland Investor Inquiries  Parkland Media Inquiries
Brad Monaco                  Simon Scott
Director, Capital Markets    Director, Corporate Communications
587-997-1447                 403-956-9272
Brad.Monaco@parkland.ca      Simon.Scott@parkland.ca

https://ml.globenewswire.com/media/4642239a-ece3-4ee1-a61e-a91113aca133/small/parkland-jpg.jpg

https://ml.globenewswire.com/media/4642239a-ece3-4ee1-a61e-a91113aca133/small/parkland-jpg.jpg

comtex tracking

More stories below advertisement

All market data (will open in new tab) is provided by Barchart Solutions. Copyright © 2021.

Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. For exchange delays and terms of use, please read disclaimer (will open in new tab).

To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies