The Inlandsis Fund Secures Key Collaboration With Solvay For Groundbreaking Greenhouse Gas Emission Reduction Projects

Montreal /PRNewswire/ - Solvay, a global leader in essential chemicals, and the Inlandsis Fund, a sustainable investment fund based in Quebec, Canada, have entered into a long-term agreement to collaborate on two industry-leading greenhouse gas reduction projects at Solvay's Green River, Wyoming, USA, soda ash plant.

Carbon finance collaboration contributes towards large-scale greenhouse gas reductions at Solvay's soda ash plant in Wyoming.

The new collaboration will leverage Inlandsis' environmental markets expertise and financial capacity to support Solvay in the execution of significant greenhouse gas emission reduction projects, in line with its carbon neutrality ambition.

The collaboration will build off Solvay's present investments to decarbonize its Green River, Wyoming complex where Solvay mines trona, a mineral which occurs in evaporite deposits. Solvay processes trona to produce soda ash and sodium bicarbonate. Inlandsis' support will focus on Solvay's trona mining greenhouse gas reduction projects, including the first ever application of regenerative thermal oxidation (RTO) technology in the soda ash industry, which Solvay expects to commission in 2024.

Solvay's essential chemicals are part of our daily life, and their growing demand is supported by sustainable megatrends such as electrification and renewable energy. Soda ash is used to produce lithium carbonate for EV batteries and to manufacture photovoltaic glass. Moreover, some of Solvay's sodium bicarbonate-based solutions are used to remove air pollutants from exhaust gas, serving power plants and other industries.

Matteo Paperini, Solvay's project director shared, "These projects demonstrate how Solvay turned its commitment for a carbon-neutral future into action through disruptive innovation and significant investments. The collaboration with Inlandsis allows Solvay to enhance the sustainability profile of its essential businesses, delivering massive emission reductions while improving their economic performance."

The Inlandsis Fund Managing Director Jamie Callendar said, "Inlandsis is very grateful for the opportunity to support Solvay in its decarbonization journey at Green River, and to provide our expertise in environmental markets to add value to these industry-leading greenhouse gas reduction projects. It is inspiring to see a sustainability leader like Solvay make such material capital investments to deploy first-of-kind technology to decarbonize the production of the soda ash and mineral products that are essential building blocks for critical energy transition industries, including EVs, solar panels and air pollution control systems. Based on Inlandsis' review of carbon market compliance projects in the mining sector, we believe this investment will be the largest greenhouse gas reduction initiative of its kind to date in North America."

The Inlandsis Fund is firmly committed to the mission of its impact manager, Fondaction Asset management (FAM), to solve major environmental and societal issues by deploying innovative and high-performance financial solutions through large-scale capital flows into impact sectors to accelerate the profound and sustainable transformation of the economy. This collaboration with Solvay is Inlandsis's largest investment to date and builds on the team's track record of contributing financing towards more than 40 different emission reduction and removal projects since the fund's launch in 2017. Inlandsis is actively advancing carbon finance opportunities to deploy additional capital from its Fund II into similar projects in the coming months.

Marc-André Binette, Vice-President and General Manager of FAM, the impact management firm leading the Inlandsis Fund, said "Fondaction Asset management is delighted with the commitment and confidence shown by Solvay, where the fund's most important investment is now directed. This partnership underlines the international recognition of the Inlandsis Fund's leading expertise in carbon finance."

About Inlandsis
Established in 2017, the Inlandsis Fund platform has been supported since its inception by Fondaction and Priori-T Capital, both based in Montréal, Quebec, Canada. This partnership has led to the creation of a strategic alliance to ensure the success of the Inlandsis Funds. Inlandsis is the only Canadian fund platform, and one of the few worldwide, that generates returns for its investors by leveraging carbon markets to finance greenhouse gas emission reduction and removal projects. For more information, please visit fondsinlandsis.com.

About Fondaction Asset management (FAM)
Fondaction Asset management is an impact manager that creates and delivers innovative, high-performance financial solutions to solve major environmental and social issues, generating competitive returns.

As a subsidiary of Fondaction, FAM channels large-scale capital into high-impact sectors, accelerating the profound and sustainable transformation of the economy.

FAM currently manages fund platforms totalling over $480 million in areas such as energy transition, natural capital protection, environmental markets, and the circular economy.

For more information, please visit fondactionassetmanagement.ca.

About Solvay
Solvay, a pioneering chemical company with a legacy rooted in founder Ernest Solvay's pivotal innovations in the soda ash process, is dedicated to delivering essential solutions globally through its workforce of over 9,000 employees. Since 1863, Solvay harnesses the power of chemistry to create innovative, sustainable solutions that answer the world's most essential needs such as purifying the air we breathe and the water we drink, preserving our food supplies, protecting our health and well-being, creating eco-friendly clothing, making the tires of our cars more sustainable and cleaning and protecting our homes. Solvay's unwavering commitment drives the transition to a carbon-neutral future by 2050, underscoring its dedication to sustainability and a fair and just transition. As a world-leading company with €4.9 billion in 2023 net sales, Solvay is listed on Euronext Brussels and Paris (SOLB). For more information about Solvay, please visit www.solvay.com or follow Solvay on Linkedin.