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News Release - January 25, 2021Pinnacle Renewable Energy Receives Notice of Alberta OHS Regulatory Charges

VANCOUVER, BC, Jan. 25, 2021 /CNW/ - Pinnacle Renewable Energy ("Pinnacle" or the "Company") (TSX: PL) announced today it has received notice of regulatory charges laid by Alberta Occupational Health and Safety (OHS) following their investigation of the explosion which resulted in injuries at the Company's plant in Entwistle, AB on February 11, 2019.

"The health and safety of our employees and contractors has always been an essential core value of our Company and our business strategy," said Pinnacle's Chief Executive Officer Duncan Davies. "We regret the impact of this incident on those who were injured, their co-workers and the Entwistle community."

Pinnacle cooperated fully with OHS, and other government agencies during the investigation to understand the unique circumstances leading up to the incident and continues to implement advances in equipment design and systems that ensure safe operations at Entwistle and across all of its facilities.

The Entwistle plant resumed operations on March 29, 2019 following approval from OHS and local authorities.

The Company has not yet received any details or basis for the charges and is unable to comment further at this time.

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 nine production facilities in Western Canada and one in Alabama, with one additional facility under construction in 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.

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