Wiigwaasaatig Energy Inc.
AurCrest has created the subsidiary company, Wiigwaasaatig Energy Inc. (WEI), to develop renewable and sustainable energy infrastructure in partnership with the Company’s neighbouring aboriginal communities, for their use or sale to resource companies. Chris Angeconeb is the President & CEO of WEI.
- WEI signed its first Letter of Intent with the Cat Lake First Nation to build a 40-megawatt clean energy business
- Allows for 51% ownership by Cat Lake in JV utility company, with First Nation JV partners having the right to purchase remaining 49% once fully operational
- AurCrest and WEI to finance and develop the 40-megawatt renewable energy business
- Additional First Nations participants to the Cat Lake LOI being sought
- Maple Energy & Mining has been retained as technical advisors to WEI project developments
- Solicitation and vetting of alternative energy technologies and constructors/operators suitable to the Wiigwaasaatig Model in process
- Funding from the Federal Government’s announced $1.4 billion allocation available for clean tech equity investments, working capital and new projects to be sought by AurCrest/WEI to supplement equity market financings
- January 6, 2017—AurCrest and Chris Angeconeb featured in the Financial Post (include link to article FP article and the picture from slide 18 of the PowerPoint)
- Diesel energy for mining companies and residents alike presents a number of issues—hazardous leaks and spills, blackouts due to shortages when ice roads don’t freeze, increased costs due to flying in fuel, etc.
- “First Nations-owned renewable energy could be a potential solution to two of the biggest challenges faced by miners in remote locations: power generation and inclusion of local indigenous people.” – Chris Angeconeb