Pinnacle Renewable Energy Provides Update on Operations at its Houston Facility

Pinnacle Renewable Energy (“Pinnacle” or the “Company”) announced that operations at its facility in Houston, B.C. (the “Facility”) have been temporarily suspended as a result of a fire-related event earlier today in the dryer area of the Facility. The Company reported that three employees sustained minor injuries and were taken to Smithers Hospital as a precautionary measure.

The Company expresses thanks to the first response personnel who attended the site. WorkSafeBC and relevant authorities have been notified and a preliminary investigation is underway to determine the cause of the event. No date has been set for the resumption of operations.

Pinnacle is committed to a safe and healthy workplace for its employees and fosters a culture of continuous improvement by establishing and maintaining safe work practices through proper procedures and directions.

About Pinnacle

Pinnacle is the second largest producer of industrial wood pellets in the world. The Company’s products are used to displace fossil fuels in the production of baseload electrical power in key markets around the world. Pinnacle is a trusted supplier to its customers who require reliable, high quality fuels to maximize the utilization of their facilities. The Company operates eight production facilities in Western Canada and one in Alabama, with two additional facilities under construction in Alberta and Alabama and more in development. The Company also owns a port terminal in Prince Rupert, B.C. Pinnacle has entered into long-term, take-or-pay contracts with utilities in the U.K., Europe and Asia that represent an average of 99% of its production capacity through 2026.

Source: Pinnacle Renewable Energy Inc.