Subterra Renewables to Design and Assess a Geothermal Energy System for Yorkville Development
Subterra Renewables (“Subterra”) is excited to announce that it has been engaged by Metropia, Capital Developments, and RioCan to design and assess the feasibility of a geothermal energy system for their preeminent 11 Yorkville Avenue project. If the project proceeds, 11 Yorkville Avenue would be tallest building in Canada to use a geothermal heating and cooling system to date. SHARC Energy System’s wastewater heat recovery technology is also being considered within the geothermal energy system’s design.
Lane Theriault, President of Subterra, commented, “We are honored to have the opportunity to work with Metropia, Capital Developments, and RioCan on this landmark project and commend them for considering a green energy solution instead of traditional HVAC. By incorporating a geothermal energy system, 11 Yorkville Avenue would expect to achieve over 700 tonnes of annual greenhouse gas reduction – equivalent to the emissions of 150 automobiles driven per year.”
David Speigel, President and COO of Metropia, commented, “We are enjoying working with the Subterra team and are impressed by their unique business model which is truly a win-win for all parties involved, most importantly – for the environment.”
About Subterra Renewables
Subterra Renewables provides efficient, low-carbon, geothermal heating and cooling systems in commercial and residential buildings. The company offers a unique off-balance sheet solution that allows property developers to capture upfront capital savings while increasing the value and marketability of their properties. Subterra will design, fund, own, and operate a geothermal energy system at zero cost for the developer. For further information, please visit our website at www.subterrarenewables.com.
Metropia is a privately owned and highly respected real estate developer creating authentic communities in both the Greater Toronto Area and Calgary. Metropia focuses on community building, urban renewal and design innovation. Their communities offer a wide range of housing options with an emphasis on affordability and an abiding responsibility to the environment. For further information, please visit their website at www.metropia.ca.
About Capital Developments
Capital Developments is an industry leading Canadian real estate development company, with international roots. The company has embarked on a number of exciting new residential and retail projects in Toronto and Montreal where it is involved in the development of over 2,000 condominium units with complementary retail. For further information, please visit their website at www.capitaldevelopments.com.
RioCan is one of Canada’s largest real estate investment trusts with a total enterprise value of approximately $13.2 billion at December 31, 2018. RioCan owns, manages and develops retail-focused, increasingly mixed-use properties located in prime, high-density transit-oriented areas where Canadians want to shop, live and work. For further information, please visit their website at www.riocan.com.
Johnathan Jackson Business Development Subterra Renewables C: (416) 400 3044 E: firstname.lastname@example.org