AES Corp

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SUPPLEMENT/ First of its Kind Partnership Delivers a Waste Heat to Power Project That Will Reduce the University of Dayton's Carbon Footprint by More Than 70% First waste heat application of this scale to produce decarbonized energy at a near hourly match in the U.S. for nearly a decade DAYTON, Ohio--(BUSINESS WIRE)--April 22, 2024-- Tallgrass, the University of Dayton, and AES Ohio entered into an innovative long-term agreement that fosters the University of Dayton's efforts to achieve their renewable energy goals. The new waste heat to power facility will capture the heat produced by an existing process and generate decarbonized power, which will be sold to AES Ohio for the benefit of the University of Dayton. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240422053861/en/ From left to right: Janice Tran, CEO, Kanin Energy; Justin Campbell, VP Power and Transmission, Tallgrass; Andy Horner, EVP Business and Administrative Services, University of Dayton; Tom Raga, President, AES Ohio (Photo: Business Wire) For more than three years, Tallgrass and Kanin Energy have collaborated to develop the project. This will offset 100% of the university's electricity needs and reduce its carbon footprint by 71%. This project also provides new teaching, research and hands-on learning opportunities to equip students with the knowledge and skills needed for a career in clean energy. "In our Marianist tradition of being good stewards of our resources, we identified and pursued this sustainability solution that reduces environmental impacts while supporting an equitable and prosperous University of Dayton, now and into the future," said Rick Krysiak, Vice President for Facilities Management and Planning. "We believe this solution will help us achieve our energy goals." "This is a real opportunity to deliver immediate results that positively affect the community. We are evaluating similar projects across our other assets and potentially third-party sites, where energy that would otherwise be wasted can be used to produce decarbonized power for local communities. This can play an integral role in the energy transition," said Justin Campbell, Vice President of Power and Transmission for Tallgrass. The waste heat to power project will be in Fayette County, Ohio. Construction is expected to begin later this year, with an in-service date planned for the fourth quarter of 2025. Tallgrass will construct, own, and operate the waste heat to power facility and connect it to an existing compressor station on the Rockies Express Pipeline which is 75% owned by Tallgrass and 25% by Phillips 66. "This project is an example of how heavy industry can economically decarbonize," says Janice Tran, CEO, Kanin Energy. "We view waste heat to power as a key tool for industry to achieve near term emissions reductions using proven technology." "This agreement takes us one step closer to bringing innovative energy solutions that will fundamentally change our energy future. It enables us to collaborate on clean energy projects to help customers reach their sustainability goals," said Tom Raga, President of AES Ohio. "AES Ohio understands the challenges our customers face and designs solutions that create a stronger, more resilient energy system. Today's partnership is one step in bringing clean energy solutions that will support our community's energy future and help our customers reach their sustainability goals." Under the agreement, AES Ohio will purchase power from the waste heat to power project to meet the needs of the University of Dayton. The energy purchased is solely for the University of Dayton; no additional costs or charges will be assessed to other customers. The benefits derived from this project will be shared with the broader community and customers. As a local distribution interconnection, the generator will pay for AES Ohio's distribution service. Additionally, any investments needed in the distribution system will support local reliability. About Tallgrass Tallgrass is a leading energy infrastructure company focused on safely, reliably, and sustainably delivering the energy and services that fuel homes and businesses and enable quality of life. We are committed to being at the forefront of efforts to decarbonize our world. To learn more about Tallgrass, please visit Tallgrass.com. About Rockies Express The Rockies Express Pipeline is a 1,698-mile natural gas pipeline system that spans from Rio Blanco County, Colorado, to Monroe County, Ohio. Rockies Express Pipeline LLC is a limited liability company owned 25% by a subsidiary of Phillips 66 and 75% by a subsidiary of Tallgrass Energy Partners, L.P. Tallgrass NatGas Operator, LLC operates Rockies Express. About AES Ohio AES Ohio is the principal subsidiary of DPL Inc. (DPL), a regional energy provider and an AES company. AES Ohio is a regulated electric utility that provides service to over 527,000 customers across 24 counties in West Central Ohio. During its long history, AES Ohio has served its customers with the lowest rates among investor-owned utilities in Ohio. You can connect with AES Ohio on Twitter, Facebook, and LinkedIn. To learn more about how AES Ohio is accelerating the future of energy, please visit aes-ohio.com. About The University of Dayton The University of Dayton is a top-tier, national, Catholic research university with offerings from the undergraduate to the doctoral levels. Founded in 1850 by the Society of Mary, the University is a diverse community committed to advancing the common good through intellectual curiosity, academic rigor, community engagement and local, national and global partnerships. Guided by the Marianist educational philosophy, we educate the whole person and link learning and scholarship with leadership and service. For more information, please visit www.udayton.edu. About Kanin Energy Kanin Energy is a purpose-built, turnkey developer that focuses on transforming industrial waste heat into emission-free power. Kanin provides a bundled solution to industrial facilities that includes the design, construction, operation, and financing of waste heat to power and other decarbonization projects. Learn more at kaninenergy.com. Cautionary note concerning forward-looking statements Disclosures in this news release contain forward-looking statements. All statements, other than statements of historical fact, included in this news release that address activities, events or developments that management expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this news release specifically include statements regarding the development of the waste heat to power project and statements regarding future operations, including the performance of the future commitments of the parties who entered into the agreement and the expected benefits from such performance. Such statements are subject to several assumptions, risks and uncertainties, many of which are beyond our control, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements, and other important factors that could cause actual results to differ materially from those projected, including those set forth in reports and financial statements made available. Any forward-looking statement applies only as of the date on which such statement is made; we do not intend to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. View source version on businesswire.com: https://www.businesswire.com/news/home/20240422053861/en/ CONTACT: Tallgrass Rachel Carmichael (720) 814-2851 media.relations@tallgrass.com Kanin Energy Savini Jayasinghe (713) 564-8868 savini@kaninenergy.com University of Dayton Cara Zinkski-Neace (937) 229-3257 czinskineace1@udayton.edu AES Ohio Mary Ann Kabel (937) 608-4030 mary.kabel@aes.com SOURCE: Tallgrass Copyright Business Wire 2024

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