Parkland secures $6.825 million in funding from Natural Resources Canada (NRCan) and the Government of British Columbia to support the building of one of Western Canada's largest ultra-fast EV charging networks
Parkland to double its previously announced 25 location network to 50 locations and offer leading customer amenities and experiences across its ON the RUN retail network
CALGARY, AB, Dec. 2, 2022 /CNW/ - Parkland Corporation ("Parkland", "we", "our", or "the Company") (TSX: PKI) has secured support from NRCan and the Government of British Columbia to build one of Western Canada's largest ultra-fast electric vehicle ("EV") charging networks. Strategically located across the Company's existing Chevron and ON the RUN retail portfolio between Vancouver Island and Calgary, Parkland's ON the RUN EV charging network will nearly triple Metro Vancouver's ultra-fast EV charging locations. Customer benefits will include:
Convenient: Located on highways and in major destinations across Vancouver Island, the Lower Mainland, the Okanagan and into Alberta, our ON the RUN ultra-fast chargers will be strategically located at intervals that help eliminate range anxiety for our customers.
Efficient: Delivering an up to 200-kilowatt charge, Parkland's ON the RUN ultra-fast chargers are on an open network, capable of charging most EV models within 20-30 minutes.
Experience: To help customers make the most of every stop, locations will be staffed, feature an ON the RUN convenience store and most will have a Triple O's restaurant. Customers will benefit from an integrated digital experience through the JOURNIE™ rewards app and washrooms will be upgraded.
"British Columbia leads the way in North American EV adoption, making the province a natural starting point for our ultra-fast charging network," said Darren Smart, Parkland's Senior Vice-President of Energy Transition and Corporate Development. "With support from NRCan and the Government of British Columbia, we are doubling the size of our previously announced ultra-fast network, from 25 to 50 locations. Our network will help eliminate range anxiety for EV drivers and by offering high-quality convenience and food choices, we aim to deliver industry leading customer amenities and experiences."
NRCan provided a $5 million grant through its Zero Emission Vehicle Infrastructure Program and the Government of British Columbia provided over $1.8 million for the project.
"We're making electric vehicles more affordable and charging more accessible where Canadians live, work and play," said The Hon. Jonathan Wilkinson, Federal Minister of Natural Resources. "Investing in more EV chargers, like the ones announced today in British Columbia and in Alberta will put more Canadians in the driver's seat on the road to a net-zero future and help achieve our climate goals."
"BC is leading North America in the uptake of Zero Emission Vehicles and is recognized as a global leader in Electric Mobility Canada's 2022 report ranking provinces on the ease of going electric in a time of climate crisis and gas price inflation," said The Hon. Bruce Ralston, BC Minister of Energy, Mines and Low Carbon Innovation. "As of September, EVs made up 17.5% of new light-duty passenger vehicles sold this year in British Columbia. The fast chargers being installed by Parkland across BC are a great example of both Federal and Provincial governments making key infrastructure investments to support the transition to clean transportation."
Each ON the RUN charging location will feature two or four charging ports. With several sites already operational, Parkland expects to largely complete its initial 25 charging locations by the end of 2022, and the remaining 25 locations in early 2024.
"Thanks to policy and incentives from both the Province and the Federal Government, British Columbia has the highest electric vehicle adoption rate in Canada and the entire continent," said John Aldag member of Parliament for Cloverdale—Langley City. "Canada is investing in charging infrastructure so that the many new drivers of electric vehicles will be able to quickly charge their vehicles, easing travel and contributing to our fight against climate change."
Parkland is an international fuel distributor and retailer with operations in 25 countries. Our purpose is to Power Journeys and Energize Communities, and every day, we provide over one million customers with the essential fuels, convenience items and quality foods on which they depend.
With over 4,000 retail and commercial locations across Canada, the United States, and the Caribbean region, we have developed supply, distribution, and trading capabilities to accelerate growth and business performance. In addition to meeting our customers' needs for essential fuels, we provide a range of choices to help them lower their environmental impact. These include carbon and renewables trading, solar power, renewables manufacturing and ultra-fast Electric Vehicle charging.
Parkland's proven strategy is centred around organic growth, our supply advantage, acquiring prudently, and integrating successfully. We are developing our existing business in resilient markets, growing our food, convenience, and renewable energy businesses, and helping customers to decarbonize. Our strategy is underpinned by our people, and our values; safety, integrity, community, and respect, which are deeply embedded across our organization.
Certain statements contained in this news release constitute forward-looking information and statements (collectively, "forward-looking statements"). In particular, this news release contains forward-looking statements with respect to, among other things: Parkland's plan to double the size of its expected ultra-fast EV charging network in western Canada; the timing of completion of Parkland's ultra-fast EV charging network; locations, number of charging ports and amenities of sites constituting the ultra-fast EV charging network.
These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These forward-looking statements speak only as of the date of this news release. Parkland does not undertake any obligations to publicly update or revise any forward-looking statements, except as required by securities law. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks and uncertainties including, but not limited to, general economic, market and business conditions; the ability of suppliers to meet commitments; unexpected delays that affect Parkland's ability to build its ultra-fast EV charging network as described and on the timeline in this press release; actions by governmental authorities and other regulators; changes and developments in regulations; and other factors, many of which are beyond the control of Parkland. See also the risks and uncertainties described in "Forward-Looking Information" and "Risk Factors" included in Parkland's revised Annual Information Form dated March 17, 2022, and in "Forward-Looking Information" and "Risk Factors" in Parkland's third quarter MD&A dated November 2, 2022, and annual MD&A dated March 3, 2022, each as filed on SEDAR and available on the Parkland website at www.parkland.ca.
SOURCE Parkland Corporation
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