Canadian Pacific Expands Hydrogen Locomotive Program to Include Additional Locomotives and Service Stations Thanks to Alberta Emissions Reduction Grant

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“By expanding this groundbreaking project, CP is demonstrating its commitment to tackling climate change through transformative technology,” said Keith creel, President and CEO of CP. “I am very happy that ERA chose this program for a grant and look forward to seeing a hydrogen powered locomotive transporting freight from CP customers in the near future.

CP receives 50/50 matching grant from ERA’s Shovel Ready Challenge program. It relies on the $ 15 million CP was already planning to invest in the development project in 2021.

In december 2020, CP announced that it will design and build North America first line-haul hydrogen locomotive using fuel cells and batteries to power the locomotive’s electric traction motors. With the grant announced today, CP will build on its first research programs to convert an additional line locomotive and a yard switch locomotive. This work will refine the process of converting diesel-electric powertrains to hydrogen-electric powertrains on a series of three classes of locomotives, which collectively represent most of the locomotives used throughout the North America.

To support the operation of the hydrogen locomotives, the project will include the installation of hydrogen production and refueling facilities at CP’s marshalling yards in Calgary and Edmonton. The Calgary the refueling facility will include an electrolysis plant to produce hydrogen from water. This facility will be powered by renewable energy from solar panels on CP’s head office campus and will not produce any greenhouse gas emissions. The Edmonton The facility includes a small scale steam methane reforming system that will produce hydrogen from from alberta natural gas resources. The system will be built to accommodate the possible future addition of greenhouse gas capture equipment.

Alberta invests to lead the transition to affordable, reliable and clean energy. The CP initiative represents a very interesting opportunity to catalyze the hydrogen economy in Alberta and in the world ”, declared Steve macdonald, CEO of Emissions Reduction Alberta. “The project will help advance the technology and reduce the costs of deploying hydrogen to meet the critical challenge of decarbonizing the heavy freight sector over the long term. ”

CP’s Hydrogen Locomotive Program will demonstrate and evaluate the technical performance of hydrogen locomotives and supporting fueling infrastructure in live operations. The program will generate critical industry knowledge and experience that will inform commercialization and future development.

For more information on CP’s sustainability initiatives, visit sustainability.cpr.ca.

Note on forward-looking information

This press release includes certain forward-looking statements and forward-looking information (collectively, FLI). FLI is typically identified by words such as “anticipate”, “expect”, “project”, “estimate”, “forecast”, “plan”, “intend”, “target”, “believe” , “Probable” and similar words suggesting future results or statements regarding a prospect. All statements other than statements of historical fact may be FLI.

This press release contains FLIs relating to, but not limited to: the scope of the hydrogen locomotive program; the creation of a global center of excellence in hydrogen and freight rail systems; the anticipated impacts of such developments on CP operations, priorities and plans, and certain anticipated future sustainability strategies, plans and objectives.

While we believe the FLI is reasonable based on the information available today and the processes used to prepare it, such statements are not guarantees of future performance, and you are cautioned against over reliance on FLI. By its nature, FLI involves a variety of assumptions, which are based on factors which may be difficult to predict and which may involve known and unknown risks and uncertainties and other factors which may cause the results to occur. actual activity levels and accomplishments differ materially from those expressed or implied by these FLIs, including, but not limited to the following: energy efficiency of railways and CP operations ; CP’s ability to implement certain initiatives, including emissions targets, scenario analyzes, risk mitigation strategies, changes to business risk management and internal pricing mechanisms carbon; CP’s ability to grow North America first hydrogen line transport freight locomotive; the possibility of eliminating emissions from the operation of freight trains; ATCO’s ability to construct and operate refueling facilities; future investments and availability of carbon reduction tools and technologies, including through CP’s fleet modernization program and technology upgrades; the impacts of existing and planned capital investments; CP’s ability to work with governments and third parties to mitigate the impacts of climate change; the possibility of eliminating emissions from the operation of freight trains; North American and global economic growth; growth in demand for raw materials; agricultural production; commodity prices and interest rates; performance of CP assets and equipment; applicable laws, regulations and government policies; the availability and cost of labor on time and with the required capacities, as well as the availability and cost of services and infrastructure; the adequacy of CP’s budgeted capital expenditures to achieve CP’s business plan; the satisfaction by third parties of their obligations to CP; the impacts of the new strain of coronavirus (and the disease known as COVID-19); and capital investments by third parties.

We caution that the above list of factors is not exhaustive and is established as of the date hereof. Additional information on these and other assumptions, risks and uncertainties can be found in reports and documents filed by CP with securities regulators in Canada and the United States. Reference should be made to “Risk factors” and “Management report and analysis of the financial position and operating results – Forward-looking statements“in the CP annual and interim reports on Forms 10-K and 10-Q. Due to the interdependencies and correlation of these and other factors, the impact of an assumption, a risk or uncertainty about FLI cannot be determined with certainty.

Except to the extent required by law, we assume no obligation to publicly update or revise any FLI, whether as a result of new information, future events, or otherwise. All FLIs in this press release are expressly qualified in their entirety by these caveats.

About Canadian Pacific
The Canadian Pacific Railway is a transcontinental railway in Canada and United States with direct connections to the main ports of the west and east coasts. CP provides North American customers with competitive rail service with access to key markets around the world. CP grows with its customers, offering a range of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail benefits of CP. CP-IR

SOURCE Canadian Pacific


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