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TRANSCRIPTION WITH SPEAKERS
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[00:00] SPEAKER_01: Welcome to Canada's Entrepreneur, where we talk to the entrepreneurs who are making it happen
[00:05] SPEAKER_01: across Canada and deliver the news, trends, knowledge and opinions from entrepreneurs and business
[00:13] SPEAKER_02: influences across the country. Hello, I'm Mario Tanaguchi managing editor of Canada's Entrepreneur.
[00:21] SPEAKER_02: Joining me today on Calgary's podcast is Julie Lemieux, who is CEO and director of Triple Point
[00:28] SPEAKER_02: Resources. Thanks, Julie, for joining us today. Yeah, thank you, Mario, for having me.
[00:34] SPEAKER_02: Kate, let's talk a little bit about Triple Point Resources. Tell me just a little bit about the
[00:40] SPEAKER_00: company and what you folks do. Yeah, Triple Point is a company with a project in our flagship
[00:47] SPEAKER_00: project, is in Newfoundland. We have a sold-home that we want to develop to store clean energy
[00:54] SPEAKER_00: through like compressor energy storage in hydrogen. It's one of the best wind corridor in
[01:00] SPEAKER_00: Atlantic Canada and having a sold-home allow to create basically clean energy on the
[01:07] SPEAKER_00: man will be able to store all the excess energy from all the wind to hydrogen project that are
[01:14] SPEAKER_00: coming online and any wind project that are coming like in any province in Atlantic, there is
[01:21] SPEAKER_00: that much space in cavern we will build to RNS all that energy and dispatch it on the man.
[01:29] SPEAKER_02: Okay, let's talk just a couple logistics here, the specifics Julie. How long ago was Triple Point
[01:38] SPEAKER_00: formed? Yeah, so Triple Point was formed in 2022 and it was a spin-out from another company called
[01:47] SPEAKER_00: Atlas Salt. Atlas Salt is focusing on a salt mine that they want to develop for road salt and part
[01:54] SPEAKER_00: of their portfolio they had that sold-home and they start having phone calls on
[02:00] SPEAKER_00: what they would do with the sold-home. People start to be interested and the director of that time
[02:08] SPEAKER_00: they decided to spin that out. So we created Triple Point with the sold-home and all the others
[02:14] SPEAKER_00: mineral claim that came in the region with salt deposit and now my focus was to see what we can do
[02:24] SPEAKER_00: with the sold-home and what would be the most interesting for the company to bring value to
[02:33] SPEAKER_00: shareholder and with having one of the best wind corridor made a project coming along in the region,
[02:42] SPEAKER_00: it became obvious that using salt cavern storage for wind energy and storing the access and supporting
[02:51] SPEAKER_00: the industry. It's a big part of the value chain and renewable that some time is is not looked at
[02:58] SPEAKER_00: from the start but salt cavern storage is the most economical way of storing excess energy and you
[03:05] SPEAKER_00: can accumulate a lot of energy there to support off-taker or to create a strategy preserve.
[03:13] SPEAKER_00: There's multiple way of having the use of salt cavern storage in the renewable industry. So
[03:21] SPEAKER_00: starting in 2022, I think my first one of my first visit in Newfoundland was to be at the
[03:30] SPEAKER_00: press conference with Chancellor Schultz at that time in Germany and Prime Minister Trudeau
[03:37] SPEAKER_00: that were there to launch the Canadian German hydrogen alliance. German are very eager to receive
[03:47] SPEAKER_00: more energy from Canada from any different type of energy but specifically for that conference
[03:57] SPEAKER_00: for hydrogen. So we were very confident at that time it's something we can do and again like
[04:05] SPEAKER_00: having all the ingredients we have the wind, we have the will power of private company who wants to
[04:12] SPEAKER_00: come and have massive wind farm gigawatt of wind that they want to explore and salt cavern storage.
[04:19] SPEAKER_00: So we had really the best ingredient to make it happen. Now we see a little slowdown and in the
[04:26] SPEAKER_00: hydrogen export but I think with Europe being highly committed to hydrogen it will happen at one
[04:34] SPEAKER_00: point. In the meantime we have our own need for power here in Canada and we can support the
[04:42] SPEAKER_00: crit in Newfoundland and Laverdor and use salt cavern storage to have more and more renewable
[04:50] SPEAKER_00: integrated to the energy mix in Atlantic Canada. So for us we continue like it's business as
[04:57] SPEAKER_02: usual for us. So tell me a couple things first of all where does the name come from and why the name
[05:06] SPEAKER_00: triple point? Yeah so triple point we're trying to find a company name originally to be able to
[05:16] SPEAKER_00: catch the attention on what we can do with salt cavern. As salt cavern has been used since the
[05:24] SPEAKER_00: 60s to store either liquid gas. I guess you can store salt it as well and triple point is the
[05:32] SPEAKER_00: junction of where solid liquid and gas come in equilibrium. So we thought it was quite an
[05:41] SPEAKER_00: interesting way of describing the company and we picked triple point for that reason.
[05:48] SPEAKER_02: Okay and tell me why Newfoundland specifically why there are not some other problems.
[05:54] SPEAKER_00: Yeah well because it's there. It's a little bit like anything else this is a natural structure.
[06:02] SPEAKER_00: So the salt dome itself is located in Newfoundland those are very unique structure. It's the only
[06:11] SPEAKER_00: one that is proven today on all the eastern seaboard of North America from basically from Florida
[06:18] SPEAKER_00: all the way to Newfoundland. That's a salt dome that's been discovered in the 60s. It's been
[06:24] SPEAKER_00: drilled many times and we're just now showcasing what we can do with this asset. So this
[06:31] SPEAKER_00: this is really why why is happening there and it's interesting because it's a technique that is
[06:37] SPEAKER_00: highly used in the oil and gas industry but now we want to use it for clean energy. So it's it helps
[06:44] SPEAKER_00: to bring I think to close the gap between the traditional way of consuming and extracting energy
[06:53] SPEAKER_00: and now clean energy can can use the exact same technique so people can transfer their skill
[07:00] SPEAKER_02: into this the stuff of business. So tell me a little bit about yourself how did you get
[07:08] SPEAKER_02: and involve first of all with with this company? Yeah so first I've been
[07:16] SPEAKER_00: thinks that it's full circle for me on what I've done in the past. So I've worked in a company
[07:24] SPEAKER_00: where very large company I worked for a company called CGI at one point trying to develop the
[07:31] SPEAKER_00: geographic enforcement nation system aspect of the company for all Western Canada. So I was
[07:37] SPEAKER_00: I was working a lot with government entities and I met through through that type of work a lot of
[07:45] SPEAKER_00: people in in environmental in government government relation and just prior to that I was working
[07:53] SPEAKER_00: for an environmental consulting firm here in in Calgary so I was able to see how project go from
[08:00] SPEAKER_00: conception to to putting it on paper getting the environmental impact assessment done with all
[08:10] SPEAKER_00: the discipline that it implies dealing with local communities and make sure we can have a report
[08:18] SPEAKER_00: that is meaningful and we can submit that to government for permitting basically. So I've seen
[08:26] SPEAKER_00: that and then I I am I work at CGI brought me like a broader range with government and then I met
[08:37] SPEAKER_00: a group of investor from Vancouver in here Calgary and they're investing in a lot of different
[08:43] SPEAKER_00: companies around the world and I start spending some time with them looking at their investment and
[08:52] SPEAKER_00: you know sometimes they they just like a good story like I'm more pragmatic I like to
[08:59] SPEAKER_00: make sure that it's not just a good story it can be executed well and sometimes you have
[09:07] SPEAKER_00: founder that you know they they they've never experienced something bigger than than what they have
[09:13] SPEAKER_00: so I was able to bring them from the concept to executing I think more efficiently on on their
[09:23] SPEAKER_00: project and make sure that the money from the investor was well spent so when this project came
[09:29] SPEAKER_00: came true not a lot of people knew on the team not a lot of people knew what you can do with a
[09:35] SPEAKER_00: sold-on so they asked me and it's not that I'm an expert I was definitely not the next person sold-on
[09:41] SPEAKER_00: but I have intended to see to be I would say very curious and I I figure out things pretty quick
[09:48] SPEAKER_00: so very quickly I realized that this is an incredible incredible asset that we have and which the
[09:59] SPEAKER_00: development of hydrogen and compressor energy storage there is something we can do there not just
[10:06] SPEAKER_00: for new film and a laboratory but for I think for Canada as old we can have an energy reserve there
[10:12] SPEAKER_00: so we realize very quickly that there's something to do with that so for me it it came from my
[10:19] SPEAKER_00: experience with these investors they trusted me to spend their money well and knowing how to
[10:27] SPEAKER_00: bring a project from concept to permits was something that I've done and then I've I've helped
[10:33] SPEAKER_00: company to be I would say more mature to be in their growth stage of business so I know what it
[10:40] SPEAKER_00: takes to to become bigger as well and this is the type of company that I can bring from from
[10:48] SPEAKER_00: basically from concept to to reality and operation and I feel I have the capacity to to do that and
[10:56] SPEAKER_00: whoa I I'm very good at recruiting the best people's smarter people than me everywhere I've been
[11:03] SPEAKER_00: and I know no shame for me to bring smart people there is a lot of interest to work on this project
[11:10] SPEAKER_00: and I have an incredible team so are you from Calgary? No I'm from Quebec City originally I moved
[11:18] SPEAKER_00: to Calgary 20 years ago and got the bug for the the mountains and skiing so I decided to stay and
[11:28] SPEAKER_00: I'm here and it's for this project in particular even if it's a project in Newfoundland and
[11:34] SPEAKER_00: Lava door there is a lot of people from Newfoundland and Lava door some of them wants to go back home
[11:39] SPEAKER_00: and a lot of people from Newfoundland have incredible career in the oil and gas here in in Alberta
[11:48] SPEAKER_00: so they are very very impressed by the fact that in Newfoundland and their own backyard there is a
[11:54] SPEAKER_00: salt dome something that is very unique there's no other salt dome in in Canada that is ready to
[12:00] SPEAKER_00: to be developed there is salt cavern here in in Alberta but it's it's just a very different type
[12:06] SPEAKER_00: of salt that is loved and so it's it's quite interesting to to see and go at different
[12:13] SPEAKER_00: event and stamp pages is coming up so we will we'll see how we'll be able to tease again
[12:21] SPEAKER_00: Newfoundland and Lava doorion from from here from Alberta so tell me um um I you're you're you're
[12:30] SPEAKER_02: starting the energy sector like how's that come about like uh they you know and and uh why did you
[12:38] SPEAKER_02: kind of choose this sector to go into as a professional career I think it's it a little bit
[12:46] SPEAKER_00: happened that way I think Calgary is a very active um entrepreneurial uh town what and that's
[12:55] SPEAKER_00: that's what attracted me uh to to this city originally like I feel very from the start I came
[13:03] SPEAKER_00: here right after university in in 96 the first time and and I was like wow I really like the vibe
[13:10] SPEAKER_00: here and then I came back many many years after that in 2002 2002 2003 and it's the same thing
[13:19] SPEAKER_00: people are value for what they bring what they say and how they execute on and it's something
[13:26] SPEAKER_00: that is very close to me it's not based on um uh sometime the study you've done the
[13:33] SPEAKER_00: past it's it's really based on what you can achieve and what you've done and what you're able to do
[13:40] SPEAKER_00: and that's something that I really like from the city is people will take you it doesn't matter
[13:46] SPEAKER_00: where you're from a lot of people come from outside the city and and you're welcome and you're
[13:52] SPEAKER_00: welcome to bring uh what you know and bring your ideas and that's what attracted me and and slowly
[13:59] SPEAKER_00: you know from from one project to the other you get recognized or I guess your your own asset as a
[14:06] SPEAKER_00: person and and people call you call you back to have you to have your skill set on their project
[14:13] SPEAKER_00: and and then it just happened that it was in the energy sector. So how was it initially for you
[14:21] SPEAKER_00: working on the energy sector being a female being a female you know like it's it's always you feel
[14:30] SPEAKER_00: uh sometime challenge but at the same time I've been in with men's my engineering uh studies were
[14:40] SPEAKER_00: with with men there was uh I think we were a hundred uh that year and there was six seven ten
[14:47] SPEAKER_00: women uh so there's very little uh women I I've been with men all the time so I know I think when
[14:56] SPEAKER_00: it's time to uh to stay firm on your position and I I don't know like I feel that I'm I'm I'm part of
[15:08] SPEAKER_00: the discussion and I'm respected I I like to listen a lot maybe I I've been listening a lot to see
[15:16] SPEAKER_00: how how things are happening in this circle or particular circle and and then I asked the right
[15:23] SPEAKER_00: question and most of the time there's always a man that opened doors for me uh career wise to to move
[15:31] SPEAKER_00: to the next step uh because because I I guess I can execute on and and the trust is there but
[15:38] SPEAKER_00: didn't have to not that I didn't have to push too hard but sometimes sometimes you do and
[15:44] SPEAKER_00: sometimes you feel you need to work harder but I've never compared myself to another man and the
[15:50] SPEAKER_00: position and I hope that I'm in this position because I I deserve it and I'm I'm at that stage in my
[15:57] SPEAKER_02: my career what advice would you give a young woman who is uh who is entering um you know
[16:06] SPEAKER_00: entering the energy sector uh for a career well be be yourself be confident uh of your your skill set
[16:16] SPEAKER_00: um I would say that it is not necessarily an easy path but uh I prefer that path compared to being
[16:26] SPEAKER_00: uh I don't know in a counten as an example I think a counten is is way more difficult uh like
[16:33] SPEAKER_00: the the competition inside uh a counten firm is is very very strong uh I think in the energy sector
[16:42] SPEAKER_00: you have a lot more flexibility to to to move laterally or to move up um and just find where you
[16:49] SPEAKER_00: are comfortable and and and be proud and and don't be shy to give your your opinion um so that's
[16:59] SPEAKER_02: yeah that's it that would be my advice so when you look at um um uh you know and sorry
[17:07] SPEAKER_02: how many years altogether these then 96 right the first came here uh so you've got probably
[17:13] SPEAKER_00: right about 20 years in Calgary roughly yeah it was 20 years in Calgary arrived in 2002 to 2003
[17:22] SPEAKER_00: that was that was a good time like just before another boom uh in the city and I connected with
[17:29] SPEAKER_00: like-minded people that like to work hard but also like to play in the mountain and go skiing and go
[17:35] SPEAKER_00: mountain biking and go hiking um and I think that what made the difference for me because to be in an
[17:42] SPEAKER_00: office in in Montreal Toronto London or or carous uh it's an office you you need to behave with
[17:51] SPEAKER_00: the people that are there but what you do outside of work I think that what is defining you and I like
[17:58] SPEAKER_00: being in the environment that we're in uh I like to to go in in the mountain in particular I think
[18:06] SPEAKER_00: when they for me in the mountain it's like going on all of these for a week so I really like
[18:11] SPEAKER_00: I really like that it fits me well and I take as long as it fits you well I think it's the place to be
[18:18] SPEAKER_00: we're just an hour away from from the mountains so it's very very great for me to to be there with
[18:26] SPEAKER_02: like-minded people what do you do when you go to the mountains I like uh Alex skiing in the winter
[18:33] SPEAKER_00: really like hiking in in the summer I start to like going close to you in Vermeer go at the lake
[18:38] SPEAKER_00: there uh it's very interesting very very uh climb people people that like to have
[18:48] SPEAKER_00: good glass of wine and good good barbecue and and just discuss about life in general and not be
[18:55] SPEAKER_00: glued to the news and what's going on around the world like you never know like it
[19:01] SPEAKER_02: sometimes some days it goes crazy yeah exactly oh you describe what your leadership style is
[19:10] SPEAKER_00: yeah my leadership style I think I I got that question a few time and I tried to adapt it with
[19:19] SPEAKER_00: the environment I mean like we are a startup company that that's start to to get just a little
[19:26] SPEAKER_00: bit bigger we start to have a lot more traction so I think it evolves uh with time when you are in
[19:32] SPEAKER_00: the startup there is you need to be highly focused you need to be uh try to set a clear vision of
[19:40] SPEAKER_00: what can happen at the same time you need to be open for change and you need to to be creative
[19:47] SPEAKER_00: and and listen to what the market is telling you but the investor are telling you and you need to
[19:52] SPEAKER_00: adapt so sometimes it it can look that you're not very focused someday but you need to adjust with
[20:00] SPEAKER_00: the signal that you receive so being an entrepreneur is is also to be reactive you need to
[20:09] SPEAKER_00: go through doors sometimes and be very positive about the outlook of what you can bring
[20:18] SPEAKER_00: and and the asset like in our case we have a fantastic asset we need to showcase this asset to
[20:23] SPEAKER_00: so many people and it's not um you know you can decide that you're going to wait for the phone call
[20:32] SPEAKER_00: well I don't wait for the phone call I make those calls and I make a list of groups that I need to
[20:37] SPEAKER_00: connect with and I in I advance so that that's very hands on then we get more mature I get I think
[20:44] SPEAKER_00: a little bit and so often I let the team uh advance uh so I I adjust my leadership style with what I see
[20:55] SPEAKER_00: how I feel um I've been in very large organization very small organization I think I have a good way
[21:01] SPEAKER_00: of bringing the company to a point where uh most likely another another leader will come
[21:08] SPEAKER_00: it's it's start to become um my baby as well and I want to to push it through and make sure
[21:15] SPEAKER_00: it's going to be developed and and now there's more and more unbelievable people that are getting
[21:22] SPEAKER_00: closer to to us to to help and support um so finding the right uh the right group to support
[21:29] SPEAKER_00: that you can trust that's something that's very interesting so I'm an adaptive leader with uh with
[21:38] SPEAKER_00: what I feel but also with what I what I can read from from the market and from a lot of different
[21:45] SPEAKER_00: stakeholder but there is definitely I think the value that I bring I want to to make sure it's
[21:52] SPEAKER_00: it's authentic it's honest I like to be surrounded by loyal people sometime it's it's great day
[22:00] SPEAKER_00: sometimes it's it's not that fun and you need to push it through you need to find ways there's
[22:05] SPEAKER_00: always a solution and I'm never in a corner so it's it's we need to continue to advance
[22:12] SPEAKER_00: and and finding a way to make it that it's positive and fun to to come at the office I think it's
[22:18] SPEAKER_00: the super important it's like it's not work for me that's that's the best thing
[22:23] SPEAKER_02: yeah exactly well thanks so much uh Julie for joining us today
[22:27] SPEAKER_02: yeah thank you Mario okay that was Julie Lemieux who is CEO and director of triple point resources
[22:34] SPEAKER_02: in Calgary I'm Mario Taniguchi managing editor of Canada's entrepreneur thanks for joining us
[22:40] SPEAKER_02: today
