Advantage Energy up as Canada Growth Fund to invest C$200 mln in carbon capture unit

Advantage Energy

20/12/2023 15:08

** Shares of Canadian energy firm Advantage Energy  AAV.TO 
rise 5.3% to a two-week high of C$8.91 in early trading
    ** AAV says public fund Canada Growth Fund (CGF) will invest
C$200 million ($150.05 million) into co's majority-owned carbon
capture unit Entropy Inc
    ** Along with the investment, CGF will also purchase up to
one million tonnes of carbon credits per annum from Entropy
projects
    ** CGF could hold a 20% ownership in Entropy upon completion
    ** In 2022, Entropy had announced a C$300 mln investment by
Brookfield Asset Management  BAM.TO 
    ** Including sessions moves, AAV stock is down ~7% YTD


($1 = 1.3329 Canadian dollars)

 (Reporting by Vallari Srivastava)
 ((Srivastava.Vallari@thomsonreuters.com;))