Energy

Julie Lemieux brings 25 years of strategic business experience to Triple Point, where she is building a high-performing team and positioning the Fischells Salt Dome as central to Newfoundland’s Clean Energy Hub. She has led organizations through financial restructuring, public market transitions and complex stakeholder environments, with deep expertise in governance, investment and regulation for small-cap companies.

Triple Point Resources Ltd. (TPR) is focused on large-scale clean energy underground storage to advance the development of renewable energy solutions and accelerate the transition to net zero, along with the exploration and development of its mineral assets, including the Fischells Salt Dome. At the forefront of this revolution, Triple Point’s groundbreaking development of the Fischells Salt Dome is set to become the largest clean energy storage facility on North America’s East Coast.

The Company is proceeding with initial environmental and exploration permits, engineering studies, market feasibility, and discussions with potential partners. Triple Point is charting an innovative path in the energy sector with its plans to develop salt caverns for dual purposes: supporting the local grid through a compressed air energy storage (CAES) project and providing hydrogen storage for increased export capacity. By developing its first cavern specifically for CAES, Triple Point is contributing to a more resilient and flexible energy infrastructure.

This technology is critical for managing energy supply and demand, providing a buffer against grid irregularities and fluctuations in production and distribution. This initiative will utilise the natural geological salt caverns to store compressed air, which can be released to generate electricity. The ability to store and release energy on demand enhances grid stability and reliability, making renewable energy sources more viable and attractive.

The Fischells Salt Dome is described as the largest proven salt dome on the east coast of North America. It is projected as 5.2 kilometres in length and 4.5 kilometres in width, with a depth from 1.8 to two kilometres. The massive Gulf Coast Style salt dome, different from common bedded salt formations, offers potential to store more than 35 million cubic meters, or the equivalent of 180,000 tonnes of hydrogen. This makes the Fischell asset much larger than expected and capable of storing all the energy from projects currently proposed by Newfoundland and Labrador’s wind energy industry. The company believes this project is Canada’s answer to the question of how renewable resources can be turned into secure bankable energy for decades to come.

The significant storage capabilities of Fischells not only enhance supply reliability but also contribute to stabilising prices and reducing risks associated with market fluctuations. This reliability is essential for the financial viability of transitioning to a hydrogen-based economy, as it provides a more predictable environment for off-takers to commit to long-term contracts and investments. The Fischells Salt Dome allows for the reduction of the environmental footprint for hydrogen storage.

Salt caverns are sustainable, efficient, and safe, having been used around the world for more than 60 years. Conscious of local concerns, the company plans to work with local communities to develop them over time. The confirmation of Fischell’s impressive potential storage capacity is a game changer for wind project viability and sets a new standard for energy storage in the region. This milestone further solidifies Triple Point’s position as a leader in advancing clean-energy solutions in Newfoundland and Labrador. The company is committed to establishing long-term relationships and sustainable economic development. TPR is well positioned to make a significant impact on the Western Newfoundland future clean energy hub. The company is committed to working closely with local and Indigenous communities as well as provincial stakeholders to maximize economic opportunities and minimize potential environmental effects associated with the dome’s development.

Our primary objective is to establish robust and safe infrastructure for green hydrogen, while prioritizing the environment and sustainability. Triple Point is leveraging the Fischells Salt Dome, a rare geological asset on the East Coast of North America, to provide a reliable, long-duration energy storage system that stabilizes the grid, supports renewable energy integration, and attracts new industries. The project is not just a technical achievement but also a critical enabler for the transition to a greener, more sustainable energy future. The hydrogen economy will happen with the economy of scale.

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