Kanin Energy Enters Agreement with Tallgrass to Develop Waste Heat to Power Clean Energy Projects

Four Projects in Ohio and Indiana Will Provide 48 MW of 24/7 Carbon-Free Energy

HOUSTON–(BUSINESS WIRE)–#energy–Tallgrass and Kanin Energy today announced a joint effort to develop four waste heat to power (WHP) clean energy projects. Once developed, the WHP projects will have an installed capacity of more than 48 MW of baseload, carbon-free energy. The projects are a part of Tallgrass’ ongoing efforts to lead in the energy transition.

Waste Heat to Power is a source of clean energy. WHP projects capture heat that is a byproduct from industrial processes and converts that waste heat into electricity, requiring no additional fuels.

All four WHP projects – three in Ohio and one in Indiana – are expected to start producing power in 2024. The projects are expected to generate approximately 410,000 MWh of electricity annually, the equivalent of providing decarbonized power to 38,000 households in the United States.

“Decarbonization is a priority for Tallgrass. We are working hard to identify opportunities to reduce emissions and promote clean power generation and that includes capturing and using heat that is currently wasted to generate electricity,” said Justin Campbell, Vice President – Power & Transmission for Tallgrass. “Kanin’s expertise in this space de-risks and expedites the implementation of this project, which allows us to indirectly offset nearly 250,000 tons of CO2 equivalent a year and provide carbon-free power to local communities where we operate. These are the types of decarbonization opportunities and new investments that we are looking at across our system.”

“We’re excited to be working with Tallgrass to develop these waste heat to power projects. We see 24/7 carbon-free energy as the next frontier of sustainability. We are focused on our proprietary waste heat to power projects because they provide baseload power from heat in industrial processes that would otherwise not be used and to create something valuable – clean energy. This is a great opportunity to help the industrial sector quickly meet their decarbonization goals,” said Janice Tran, CEO of Kanin Energy.

Headquartered in Houston, Texas and Calgary, Alberta, Kanin Energy is among the first companies to develop industrial waste heat to power projects with a technology agnostic approach in North America.

Kanin Energy brings together technology, engineering, and innovative waste heat to power project designs to generate baseload, emissions-free electricity for the grid or on-site use. WHP captures excess thermal energy and converts it into electricity. This is done using an Organic Rankine Cycle (ORC) closed-loop system that uses heat to drive a turbine and generate emission-free power.

Tallgrass owns and operates pipeline and energy infrastructure in 12 states across the country. Tallgrass has emphasized clean power and emissions reduction investments, and this agreement with Kanin Energy further demonstrates Tallgrass’ commitment to decarbonization and enhanced operational efficiency.

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 press 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 press release specifically include the successful development and execution of the referenced WHP clean energy projects; the stated installed capacity and expected power output of the projects; the timing of the completion of the projects; the expectation that these projects will achieve the stated carbon offset and power generation goals; and the expected benefits, economic or otherwise, of the proposed WHP clean energy projects to the local communities, Ohio, Indiana and the broader Midwest region. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Tallgrass, 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 by Tallgrass. Any forward-looking statement applies only as of the date on which such statement is made, and Tallgrass does 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.

About Kanin Energy

Kanin Energy is a purpose-built, full turnkey developer that focuses on transforming industrial waste heat into emission-free power. Kanin provides a bundled solution to industrial facilities that include the design, construction, operations, and financing for waste heat to power and other decarbonization projects. Learn more at kaninenergy.com.

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. An investor group led by Blackstone Infrastructure Partners, which includes Enagás SA, GIC, NPS and USS, owns the outstanding equity interests in Tallgrass. Learn more at Tallgrass.com.


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