October 17, 2005

EnergyINet pursues plan for environmentally responsible energy production

At its founding meeting of members earlier this month in Calgary, the Energy Innovation Network (EnergyINet) elected its inaugural board of directors and confirmed the appointment of Dr Michael Raymont as its first permanent chief executive officer (CEO). This follows approval by Industry Canada of EnergyINet's incorporation as a federally-registered not-for-profit organization which will bring industry, researchers and governments together to help develop new environmentally responsible hydrocarbon and renewable energy technologies.

The creation of EnergyINet is the result of more than three years of consultation and discussions involving industry, government and research leaders, who have come together to develop a coherent energy production and environmental technology plan for Canada. Operating as a virtual network of more than 200 energy, environmental and technical experts, EnergyINet recognizes that no single source of energy will be enough to meet the continued growth in energy demand.

Accordingly, the group will pursue an integrated energy production strategy that promotes innovation and the development of new technologies, in addition to research and development. Its work will focus on six specific program areas:

*development and enhancement of alternate and renewable energy sources;

*enhancement of the value of bitumen and heavy oil, together with reduction in the amount of energy needed to extract and process these conventional resources;

*demonstration and use of new-generation clean coal technologies;

*reduction of greenhouse gas and other emissions;

*maximum recovery of conventional and non-conventional oil and gas resources; and

*development of technologies to treat, recycle and reduce consumption of water more effectively.

The founding board will include representatives from BC Hydro, Luscar, Nexen, Nova Scotia Power, Nova Chemicals, Saskatchewan Power and Syncrude, as well as from the BC, Alberta, Saskatchewan, Nova Scotia and federal governments. All of these companies and governments are founding members of EnergyINet, together with Agrium, Alberta Research Council, EnCana, Shell Canada, Suncor Energy and TransAlta.

"EnergyINet is an organization that represents the potential that exists when industry, governments and researchers come together with a common goal in mind," stated Len Bolger, who served as acting chair prior to the election of the EnergyINet board. "With a national Board now in place, we are able to move forward with the full implementation of EnergyINet's business plans and energy and environmental innovation programs," he added.

EnergyINet's new CEO, Dr Michael Raymont, was previously acting president and vice-president, technology and industry support, with the National Research Council of Canada (NRC). There, he provided leadership for NRC's major national industrial research programs, including the Industrial Research Assistance Program (NRC-IRAP). Dr Raymont also has extensive private-sector experience, having headed several technology companies, raised public and private equity, developed business and marketing strategies, recruited management teams and established strategic relationships with a number of multinational firms.

"We are excited about the potential of EnergyINet, and look forward to the work it will do to contribute to a Canadian leadership position in energy production and environmental technologies," Dr Raymont said.

More information is available from EnergyINet, 403/297-8650, Web site www.energyinet.com.

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