- Questerre Energy Corporation (QEC) signs an economic development agreement with the council of the First Nation of the Abenakis of Wolinak in Quebec
- The Abenakis of Wolinak will be granted a net profit interest from development on their traditional territories in the Becancour area
- The Abenakis of Wolinak can acquire a working interest in the exploration licenses from Questerre and directly participate in future development
- The parties have committed to the use of local contractors, specifically Wolinak contractors on traditional territories
- The joint venture will work on developing a net-zero emissions energy hub in Quebec
Questerre Energy Corporation (QEC) has signed an economic development agreement with the council of the First Nation of the Abenakis of Wolinak.
The Abenakis of Wolinak will be granted a net profit interest from development on their traditional territories in the Becancour area.
The Abenakis of Wolinak can acquire a working interest in the exploration licenses from Questerre and directly participate in future development.
The parties have committed to the use of local contractors, specifically Wolinak contractors on traditional territories in Quebec.
Questerre will use ‘reasonable’ efforts to help the Abenakis of Wolinak build their contracting capacity.
The joint venture will work on developing a net-zero emissions energy hub in Quebec.
The energy hub will pilot projects that produce clean energy, such as zero-emissions gas, and assess new carbon recycling technology.
The projects could include the production of methanol, fertilizer and cement additives using captured carbon dioxide.
The hub will also evaluate the potential for carbon dioxide removal and the production of clean hydrogen using technology developed by ZEG Power.
Questerre signed a letter of intent with ZEG Power last year to evaluate their proprietary leading-edge technology.
Michel Bernard, Chief of the Council of the First Nation of the Abenakis of Wolinak, commented,
“With the many tragic events in Quebec and Canada, we believe that reconciliation has to move beyond words and to real action… This agreement could bring the prosperity to our Nation and equality for our people while protecting the environment.”
Questerre Energy Corporation (QEC) is up 28.12 per cent and is trading at $0.41 per share as of 2:29 p.m. EST.