The Captus agreement with Gryphon marks a critical step forward in developing a clean power hub in southwestern Alberta
January 10 2025, Calgary, AB – Captus Generation is pleased to confirm that it has signed a definitive purchase and sale agreement with Gryphon Digital Mining Inc. (NASDAQ:GRYP), as announced by Gryphon earlier today. The agreement will see Gryphon acquire all the assets of Captus Generation, notably a large industrial site 20 kilometres south of Pincher Creek, Alberta, and plans for cost-effective clean electricity development. The Captus senior management team will stay with Gryphon and will continue to work to realize the Captus opportunity.
Gryphon is a U.S.-based company striving to power the future of AI and help meet the world’s ever-increasing demand for data with clean energy. Gryphon announced its intent to execute on Captus’s plans to develop a natural gas-fired power plant with carbon capture and storage (CCS), producing clean electricity to power AI computing infrastructure to be built on-site.
“Gryphon’s investment in Alberta represents a strong vote of confidence in the province’s clean energy future,” says Harry Andersen, Chief Executive Officer of Captus Generation. “We’re looking forward to joining the Gryphon team, which has the necessary expertise and track record to develop digital assets and infrastructure that will take full advantage of the unique opportunity we have put together at Captus.”
The investment by Gryphon adds certainty around developing clean electricity generation in southwestern Alberta, to the benefit of the local community. Data centres are a relatively non-intrusive form of industrial development. As well as offering local jobs and economic opportunity, this project will also promote Alberta as an emerging player in the rapidly growing AI, cryptocurrency, and technology sectors.
Steve Gutterman, Chief Executive Officer of Gryphon Digital Mining, adds: “We believe that Alberta should be at the forefront of high-performance computing power given its forward-facing government, industry expertise, and abundant resources. We are excited to be working in Western Canada. We are equally excited in welcoming Harry Andersen and his team to the fold. They are true energy experts and the development of Captus could not be in better hands.”
Captus expects the transaction to close by the end of April 2025.
For more information or to schedule an interview, please email [email protected].
Please see Gryphon’s news release for more detail and for cautionary statements for investors regarding forward-looking information.
About Captus Generation
Captus Generation is a Calgary-based company with a vision for sustainable energy development south of Pincher Creek. Captus is a subsidiary of BTG Energy, a Canadian company that owns and operates strategically located energy infrastructure across Central and Southern Alberta. Established in early 2024, Captus Generation plans to build carbon-neutral, gas-fired power generation facilities on a non-agricultural industrial site approximately 20 kilometres south of Pincher Creek, Alberta. The Captus plans, which are subject to regulatory approval, envision a full-scale, expandable power plant with carbon capture and sequestration (CCS). Captus is led by a team of energy industry veterans with more than a century of diverse experience in the midstream and upstream sectors in Canada and the United States.