#Cleantech Interview with Jean-Pierre Colin, President and CEO of Galaxy
Power Inc. Discussing Flow-Through Share Investments
Galaxy Power’s Mission is to be at the forefront of #Cleantech opportunities,
such as the Canadian Federal Government’s recent Budget, related to solutions
to #ClimateChange
May 25, 2021 - Investorideas.com, a global news source and leading investor resource covering cleantech
and renewable energy stocks (Renewableenergystocks.com) issues an exclusive Dawn
Van Zant (of investorideas.com) interview with Jean-Pierre Colin, President and
CEO of Galaxy Power Inc.
CEO of Galaxy Power, Jean-Pierre Colin (JPC), former
high profile Bay Street Investment Banker and a lawyer, is leading a group of
professionals at Galaxy Power to create one of Canada’s leading hubs of Clean
Tech public company industry knowledge, especially as it relates to the
advocacy of emerging and fast-growing new Hydrogen Economy.
Read this in full at https://www.investorideas.com/news/2021/renewable-energy/05251Galaxy-Power-Jean-Pierre-Colin.asp
Jean-Pierre Colin
Jean-Pierre was the pioneer who led the very first
three ever Flow-Through Share deals in Canada. He went on to create a series of
nine public Flow-Through Share Funds which in aggregate successfully managed
and invested over $700 Million in over 300 public Mining and Oil & Gas
companies in Canada, followed by over 25,000 investors and 2,500 retail
brokers. One such fund was Canada’s largest ever junior mining Flow-Through
Share Fund which raised $193,000,000 for Flow-Through Shares. In the 1990’s
Jean-Pierre also launched Canada’s first exploration Flow-Through Share Fund
aimed at developing the growing Canadian diamond mining industry. Jean-Pierre
is currently Executive Vice President of dynaCERT Inc. (TSX: DYA) and also serves on the Hydrogen Strategy Working
Group, advising the Ontario Government on its future hydrogen economy
initiatives and policy.
Interview:
Q: Investorideas.com
Jean-Pierre, can you explain what Flow-Through
Share are and how they work?
A: Jean-Pierre Colin (JPC)
Flow-Through Shares are a very successful tax
incentive programme that was originally developed by the Canadian Government to
enhance investor interest in resource industries like mining and oil & gas.
This programme empowered the raising of over $20 Billion by the private sectors
and gave financial reach to our high-risk Canadian exploration and development
initiatives throughout every Province & Territory of the country. Many
Canadian Northern communities have flourished economically as a result of Flow-Through
Shares, hundreds of thousands of permanent jobs were created and new wealth was
created for Canadians.
Companies that raise funds by issuing Flow-Through
Shares to investors, and expend such funds as prescribed by Canada’s Tax Act,
can renounce certain tax deductions to investors who purchase their shares. As
a result, this lowers the initial risk-reward investment proposition to shareholders
and enhances the flow of funds from the private sector to expenditures which
dovetail with government mandated objectives.
To further reduce risk and enhance the use of Flow-Through
Shares, many public limited partnerships were created to offer investors a pool
or portfolio of companies. These partnerships made investments in Flow-Through
Shares exponentially more attractive to investors by providing experienced
professional management and diversification of risk for their investors.
In 2021, the Canadian Federal Budget proposes to
further widen the availability of Flow-Through Shares to the growing Clean Technology
Industry and the New Hydrogen Economy in Canada. This is great news for
proponents of Canada reaching its carbon emission targets under the Paris
accord.
Q: Investorideas.com
Can you share why Galaxy Power is a recognized
authority to discuss Flow-Through Shares as it applies to Clean Technology and
the latest Canadian Federal Budget?
A: Jean-Pierre Colin (JPC)
Galaxy Power
is a Canadian private corporation that recognized very early on that new Clean
Tech products and new Clean Tech businesses are emerging because of the very
strong national and international government impetus and the associated
Canadian business fortitude. The entire world, on a planetary scale, is
focussing on Hydrogen as a Clean Technology solution to the imperative demands
of Climate Change.
Galaxy Power’s Mission is to be at the forefront of
opportunities, such as the Canadian Federal Government’s recent Budget, related
to solutions to Climate Change.
Galaxy Power is fostering the development of
companies operating at the early stages of this emerging growth curve. To
successfully accomplish our proud mission, we are co-opting the finest
like-minded experienced people leading various critical aspects of the Canadian
CleanTech intellect, both from a business point of view and a scientific and
technical point of view.
Q: Investorideas.com
It looks like your ongoing proposals to Governments
have paid off. Please tell us about your recent efforts in leading the advocacy
of Flow-Through Shares.
A: Jean-Pierre Colin (JPC)
Two years ago, I lobbied the Ontario Provincial
Government to allow Clean Technology Companies to be allowed to make use of
Flow-Through Shares in Ontario. This led to a second, more significant Clean
Tech Flow-Through Share lobbying effort with Canada’s Federal Government. It
certainly paid off; the new Federal Government saw the importance right away
and has announced many new initiatives to include additional Clean Tech Flow-Through
Shares in the Tax Act.
Q: Investorideas.com
Who are other members and professionals involved
with Galaxy Power and what are their credentials?
A: Jean-Pierre Colin (JPC)
Galaxy Power has co-opted well-known members of
various aspects of the Clean Technology Space. To name a few: Jennifer
Stevenson, Vice President & Portfolio Manager of 1832 Asset Management, one
of Canada’s largest investment management firms, a Scotiabank & Dynamic
Funds affiliate; Stephen Kukucha, ex Ballard Power (TSX: BLDP) , is a Board Member of SDTC, Sustainable
Development Technology Canada, which is funded by the Federal government and
invests in Clean Technology in Canada; Perry Dellelce, senior partner and
founder of the law firm Wildeboer Dellelce, a leader in ESG and clean
technology legal matters; Jim Payne, CEO of Toronto Stock Exchange publicly
listed hydrogen technology company, dynaCERT Inc. (TSX: DYA) , a successful carbon emission reduction
technology company; Frank Klees, former Ontario Minister of Transportation; and,
Sarbjit Kaur and Amir Farahi who are both high-profile specialists in
Government Relations and proponents of Clean Technology and Flow-Through Shares.
Galaxy Power has also recruited Gavy Singh, a Canadian expert in the design of
hydrogen electrolysers and David Bridge, ex-RIM/Blackberry (NYSE: BB; TSX: BB) and Virgin Mobile, a software design team leader
and inventor of innovative clean technology telematics products. We have also
co-opted renowned expertise in the US with the addition of Harold Martin,
founder of Martin Technologies which revolutionises clean technology solutions for
the OEM vehicle industry.
Q: Investorideas.com
What does the 2021 Federal Budget do to promote Clean Technology with
respect to Flow-Through Shares?
A: Jean-Pierre Colin (JPC)
The Budget proposes to greatly expand the
application of Flow-Through Shares to Clean Technology in Canada. More
specifically, the Budget allows more funding to flow into private sector
companies that foster the Federal Government objectives on Climate Change. The
ESG focus of the Budget objectives clearly is the New Hydrogen Economy. This
Budget will have a dramatic positive effect on the Canadian Clean Tech
landscape for the private sectors, both for private businesses and publicly
listed companies.
Q: Investorideas.com
What types of corporate expenditures are outlined in the Budget as being
critical to our Federal Government?
A: Jean-Pierre Colin (JPC)
The Budget actually contains a very comprehensive
list. This is unusual because often a Budget only contains guidelines regarding
technical matters. Here, the Budget has listed many types of situations that
will benefit Clean Tech Flow-Through Shares. This highly encouraging situation
is so promising to proponents of Canadian Climate Change solutions.
Furthermore, the Budget goes even beyond by stating that many expenditures that
will qualify for Flow-Through Shares will start as of the date of the Budget,
not the date of Budget legislation which comes later. As a result, some
companies in Canada that have projects commenced in 2021 will be rewarded for
starting early on expending funds that meet government Clean Technology
incentives.
For Instance, the Budget lists items such as these:
Fossil-fuelled cogeneration
systems; fossil-fuelled enhanced combined cycle systems; specified
waste-fuelled electrical generation systems with an electrical capacity greater
than 3 megawatts; specified waste-fuelled heat production equipment for
which more than one quarter of the total fuel energy input is from fossil
fuels; and producer gas generating equipment for which more than one
quarter of the total fuel energy input is from fossil fuels, pumped
hydroelectric storage equipment, electricity generation equipment that uses
physical barriers or dam-like structures to harness the kinetic energy of
flowing water or wave or tidal energy, active solar heating systems, ground
source heat pump systems, and geothermal energy systems that are used to heat
water for a swimming pool, equipment used to produce solid and liquid fuels
(e.g., wood pellets and renewable diesel) from specified waste material or
carbon dioxide, a broader range of equipment used for the production of
hydrogen by electrolysis of water; and equipment used to dispense hydrogen for
use in hydrogen-powered automotive equipment and vehicles.
As you can see, the new Budget is not just broad
political rhetoric, the government has really thought through what they hope
the early days of Clean Tech Flow-Through to be in Canada. I surmise, in future
years, the government will further expand the eligibility opportunities.
Q: Investorideas.com
What do you think will happen after the Budget Bill
is tabled by the Federal Government?
A: Jean-Pierre Colin (JPC)
First of all, Canadian taxpayers will be able to
receive substantial tax incentives for investing in certain eligible Clean
Technology projects and Clean Tech expenditures.
Secondly, much needed investment by the private
sector will flow into a diversity of communities throughout Canada, expanding
local and national growth in Clean Technology.
Thirdly, and also very importantly, we all benefit,
globally, because we know Flow-Through Share Tax incentives can work extremely
well to enhance our economy, so it will allow Canada to operate on a global
scale and become internationally competitive on the Climate Change front.
Q: Investorideas.com
Should Canadians worry about the huge Biden
administration funding of Clean Technology in the USA or should we be thankful?
A: Jean-Pierre Colin (JPC)
Of course, at Galaxy Power, we believe the strength
of the funding expenditures south of our Canadian border can be good for the
whole world. Every country must do its part for Climate Change and it’s great
to see the USA begin to establish itself as a leader in terms of capital
spending. Some of these expenditures can spill over indirectly in Canada,
perhaps, so this may be good for Canada in an indirect way, perhaps just a
small way.
However, because the USA is right next door, Canada
is at risk of a “brain drain” of Climate Change professionals and corporate
know how moving to the USA. Also, the Biden programmes seem to make
establishing new companies in Clean Technology very welcome to the USA,
something not at the top of our Canadian agenda yet. Some Canadians are
absolutely right to be very concerned about Biden’s new plans.
But only Canada has a Tax Act that has a
well-developped Flow-Through Share tax incentive programme for funding Canadian
Clean Tech Companies. This is exactly why the new Canadian tax incentives of
Flow-Through Shares and their expansion to Clean Technology are so important to
all Canadians. At Galaxy Power, we are fostering Canadian talent and that
talent operating in Canada.
+1 416.573.4300
jpcolin@galaxypower.ca
Galaxy Power Inc.
Generating Ideals for Ideal Generations
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