Montem Resources Ltd (ASX:MR1) has appointed Will Bridge as chair of its Tent Mountain Energy Transition Steering Committee, the next step in plans to transition the Tent Mountain Project in Alberta, Canada, into a renewable energy complex.
The committee led by Bridge will include Montem’s chief commercial officer Robert Bell and a small group of subject matter experts across a range of technical and commercial specialties focused on renewable energy development in Alberta.
Designed to execute the strategic development of the Tent Mountain Renewable Energy Complex (TM-REX), the committee will implement a program of works to progress the project through the feasibility stage into monetisation.
This program will include significant involvement from Boost Energy Ventures and GHD, who will design the green hydrogen component of the TM-REX.
A professionally attractive project
“We are delighted to have Will lead the committee for this transformational development. The fact that this project can attract the calibre of professionals such as Will Bridge, speaks volumes to the inherent quality of the opportunity the Tent Mountain pumped hydro energy storage represents,” Montem Resources managing director and CEO Peter Doyle said.
“Will has worked closely with the team at Montem over the past four months and provided valuable insights into the commercialisation of this idea. The board and I are very confident Will and the committee will guide the project to fruition.”
Bridge is an experienced power industry executive and corporate director with 25 years of experience and a track record of strategic leadership and growth in domestic and international markets.
A holder of the Institute of Corporate Directors director designation, Bridge currently serves as chair of the board for Calgary Housing Company; director for the Fusion Energy Council of Canada; as an Associate with the Haskayne School of Business’ Creative Destruction Lab; and as an advisor to founders of new energy-focused companies.
“Valuable and extremely rare”
“After working with Montem over these last four months, it has become clear to me that they have a remarkable pumped hydro energy storage opportunity at Tent Mountain," Will Bridge said.
"Not only does the power market here in Alberta need long-duration storage, like the Tent Mountain Project, to complement all of the intermittent solar and wind that is being developed, but the Tent Mountain Project also has a unique combination of a high upper reservoir elevation and close proximity to the bulk power grid.
“That combination is valuable and extremely rare in this province."
In addition to his current governance roles, Bridge is past chair of the Alberta Electric System Operator (AESO) and has held board positions with the Canadian Electricity Association, the Alberta Chamber of Resources, the Association of Power Producers of Ontario, and PaceKids School for Children with Motor Disabilities.
Bridge has been a senior advisor to Montem since mid-2021.
Transition from coal to renewable energy
Montem’s decision to transition Tent Mountain from a coal mine into a renewable energy complex was prompted by separate independent expert studies that demonstrated the strong viability of the project to generate renewable energy through a combined 320 megawatts of hydro energy storage, 100 megawatts of offsite wind power energy generation and a further 100 megawatts onsite green hydrogen production.
The production of hydrogen onsite would potentially be Canada’s first large-scale green hydrogen production, with the project planned to produce up to 13,000 tonnes of green hydrogen per year.
Montem is progressing development plans for the project and is working closely with the Piikani Nation whose traditional territories the company operates on and have agreed to explore the mutual benefits of the Tent Mountain Renewable Energy Complex.
Montem has applied to Canada’s Clean Fuels Program for C$5 million to assist funding the next phase of work, including a Feasibility Study.
About the company
Montem Resources is a steelmaking coal development company with coal tenements in the Canadian provinces of Alberta and British Columbia. The company’s primary objective is to become the operator of steelmaking coal mines, by developing its properties in the Crowsnest Pass, and acquiring operating assets.
Montem sought to restart coal mining at Tent Mountain but was stymied by the Impact Assessment Agency of Canada. Rather than allow the mine to sit unused, the company identified alternate methods of monetising its asset through a transition to a renewable energy complex as it seeks approval for the re-commencement of mining at the project.