VICTORIA, BC, June 8, 2021 (GLOBE NEWSWIRE) – PRT Growing Services Ltd (“PRT” or “Company”), a leading provider of mission-critical containerized forest seedling growing services in North America, and Instar Asset Management Inc. (“Instar”), an independent alternative management company specializing in mid-market investment opportunities primarily in North America, today announced the closure of US $ 90 million in green loans led by Royal Bank of Canada and HSBC Bank Canada to support the Company Acquisition Instar and further growth. HSBC acted as the green loan coordinator for financing, which included the National Bank of Canada and the Toronto-Dominion Bank. These properties comply with the Global Credit Market Association’s Green Lending Principles – a set of market-based standards and guidelines that promote and support sustainable economic activities.
PRT is a pioneer in containerized growing of more than 200 types of forest seedlings on a commercial scale, supporting 21 grow and cold storage facilities in Canada and the United States. The company’s services are key to restoring invaluable forest land, mitigating the effects of climate change and helping clients achieve reforestation regulations and goals.
PRT is one of the first privately supported companies to join HSBC Canada’s environmental lending program, based on the company’s commitment to the environment and its role as an important link in the sustainable forestry supply chain.
“Sustainability is at the heart of our PRT business goal,” said Rob Miller, CEO of PRT. “With our financial relationship and support from Instar Asset Management, we are delighted to expand the value proposition of PRT to clients, communities and the environment. Innovative financing gives green companies like PRT the flexibility to continue to grow in our core business areas, helping clients achieve reforestation goals, driving new decarbonization and remediation initiatives, and mitigating climate change. “
“The need for sustainable forest management and ecosystem restoration is more evident than ever,” said Gregory Smith, President and CEO of Instar Asset Management. “As initiatives such as Canada’s commitment to plant two billion more trees over the next 10 years and the World Economic Forum’s One Trillion Trees program increase the demand for seedlings, we look forward to working closely with the PRT team to support decarbonization goals and improve the sustainability of our environment and communities ”.
Globally, HSBC Green Loans support businesses as they strive to move towards a more climate-friendly and low-carbon future by encouraging investment in projects that provide clear environmental benefits and promote sustainable growth. These projects can include, but are not limited to, renewable energies, pollution prevention, clean transport, sustainable water and wastewater management, and climate change adaptation. Green loans are part of HSBC’s pledge to provide $ 750 to $ 1 trillion in funding and transition investment.
About PRT Growing Services
The PRT Group through subsidiaries PRT Growing Services Ltd, PRT USA Inc. and Bionera Resources Inc. is a producer of forest seedlings and the largest producer of container forest seedlings in North America. a network of forest seedlings nurseries in the USA and Canada. For more information: www.prt.com
Instar Asset Management
Instar is an independent alternative management company focused on the North American mid-market opportunities in infrastructure and other alternative real estate categories. Instar’s growing presence spans North America with a diversified portfolio of companies that provide essential infrastructure services and value to communities, partners and investors, helping us fulfill our goal of improving people’s lives. For more information: www.InstarInvest.com
Ashley Smith, AVP of Communications
Instar Asset Management
Tel: (416) 865-4181
This release contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of US federal securities laws. Forward-looking statements include statements that are forward-looking, depend on or relate to future events or conditions, include statements regarding operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, goals, objectives, current events. purposes and includes words such as “believes”, “seeks” or their negative versions and other similar expressions, or future conditional verbs such as “may”, “will”, “should”, “could” and “could “. “
Although Instar Asset Management believes that future expected results, performance or achievements, expressed or implied in forward-looking statements and information, are based on reasonable assumptions, the reader should not rely excessively on forward-looking statements or information, as statements or information involve known as well as unknown risks. uncertainties and other factors that could cause actual results, performance or achievements to differ materially from the expected future results, performance or achievements expressed or implied in such forward-looking statements and information.
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