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ROUYN-NORANDA, QC, June 6, 2017 /CNW Telbec/ – Fieldex Exploration Inc. (TSXV: FLX) (Frankfurt: F7E) is pleased to announce that it has entered into a letter of intent dated June 6, 2017 with Idénergie Inc. (“Idénergie“), a renewable energy clean-tech private company based in Montreal, Québec, for a reverse take-over of Fieldex (the “Reverse Take-Over“) and a “spin-out” of Fieldex’s resource properties in a new public company (the “Spin-Out“). Fieldex and Idénergie are at arm’s-length.

The letter of intent provides that in order to effect the Reverse Take-Over, Fieldex will amalgamate or otherwise combine with Idénergie and become a renewable energy clean-tech company. At the closing of the Reverse Take-Over, Fieldex’s corporate name will be changed. At the same time, in the Spin-Out, Fieldex will transfer all of its resource properties and all of its liabilities to a new company, and distribute a portion of the shares of the new company to Fieldex’s shareholders. As a result, at the closing of the Reverse Take-Over and Spin-Out (collectively, the “Transaction“), Fieldex’s shareholders will become shareholders of a new clean-tech company and shareholders of a new company which will carry on Fieldex’s current natural resource business.

Trading in the common shares of Fieldex is currently halted and is expected to remain halted pending preparation by Fieldex of a management information circular for a special meeting of shareholders to consider the Transaction, at which time Fieldex may request a reinstatement of trading.

A comprehensive press release regarding the Transaction will follow in accordance with the policies of the TSX Venture Exchange when the terms and conditions of the Transaction are finalized.

Completion of the Transaction is subject to a number of conditions including, but not limited to: completion of satisfactory due diligence by each of Fieldex and Idénergie; execution of a definitive agreement between Fieldex and Idénergie in respect of the Reverse Take-Over; receipt of regulatory approvals; acceptance of the Transaction by the TSX Venture Exchange; receipt of customary legal opinions; approval of the Transaction by the shareholders of Fieldex; and other actions necessary to complete the Transaction. The Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in Fieldex’s management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Fieldex should be considered highly speculative.

Original press release can be found here : 

http://www.newswire.ca/news-releases/fieldex-exploration-signs-letter-of-intent-for-reverse-take-over-with-idenergie-inc-and-spin-out-of-resource-assets-in-new-company-626880601.html

Downloadable version can be found here : 

 
96202926_press release June 2017 announcement of reverse take-over and spin-out.pdf

Click image to play.

MONTREAL (QC) — Idénergie Inc. announces today a breakthrough in solar conversion and renewable energy management with the launch of its residential energy management platform. The innovative system integrates highly efficient solar conversion modules, bidirectional electric vehicle charger modules, inverter modules that generate AC current and a smart module to sell electricity to the grid. The components are installed in a racking system that allows for easy expansion.

Renewable energy specialists are traditionally required to complete residential installations and these experts are simply not accessible at low costs. Idénergie’s renewable energy management system will make it possible for electricians to deliver solar projects by simplifying the design and installation process. By targeting the soft costs of installing solar projects, Idénergie’s technology could increase the adoption rate of renewable energy and the impact of distributed energy resources.

“It is an exciting time for solar. We believe our technology could have a significant impact on how we manage renewable energy at home. Similar to the advent of computer towers, where we could select different peripherals based on our needs, owners of Idénergie’s modular system will be able to easily configure their installation and simply slide in the required modules into a racking system. Our electronic platform further gives owners the ability to expand their system through time, and meet their evolving needs,” explains Pierre Blanchet, Idénergie’s CEO.

But for the time being, Idénergie’s electronic platform is a definite step forward in the residential renewable energy industry thanks to its own internal micro-grid technology, exchanging energy at high voltages for higher efficiencies and high-speed communications using to fiber optics. It also integrates smart-grid compatibility, allowing utility companies to interact with distributed energy resources to better manage the electrical demand on their network.

Idénergie is currently seeking qualified investors to join this promising mission and beta testers in Quebec who own (or are considering acquiring) a renewable energy system. For more information about the technology, visit:

Idénergie Solar Converter

For interview requests, contact:
Pierre Blanchet, Président
514-701-5550

Idénergie is currently experiencing a period of great international exposure. Videos of its river turbine have been seen millions of time on social media. Its technology has also sparked the interest of numerous business media sites and blogs from many parts of the world.

For instance, the Idénergie river turbine appeared on This Is Brainy, a Facebook page with 1.2 million followers worldwide. Their video has already been viewed over 15 million times.

Kayla Byrne, from the Jasper Fitzhugh newspaper wrote an interesting article that sums up what we did last summer.

(This article is reproduced here with the kind permission of the author.)

Link: http://www.fitzhugh.ca/turbine-lights-up-whirlpool-campground/

Formerly known as an off-grid campsite, visitors might be in for a surprise next time they head to Jasper’s Whirlpool Campground.

Thanks to the powerful current of the Whirlpool River and a newly installed river turbine, campers will now be able to cook under a light after the sun goes down and charge their electronic devices.

“It’s very basic services providing a little LED lighting and a place where people can charge their phones,” said Steve Blake, special projects coordinator for Parks Canada. “What’s really nice is that this project doesn’t require any pipes or dams.”

Through the federal government’s Build in Canada Innovation Program, Parks Canada and Idénergie, a Quebec-based electric company, teamed up to install several river turbines throughout Canada’s mountain parks as part of a larger pilot project.

Since 2015, the two partners have been working together to find the best places to install the turbines. In Jasper they assessed, Snaring, Kerkeslin, Jonas, and areas around Sunwapta, Maligne Lake and Whirlpool Campground before picking two locations–Whirlpool Campground and the HI-Athabasca Falls Wilderness Hostel.

“All the sites were evaluated through Parks Canada’s impact assessment process. We really looked at all the elements—visitor experience, ecological values and practicality,” Blake said. “Snaring, for example, had good flow, but it was really far away from where we needed power…it just wasn’t practical.”

He said the hostel was also chosen because it already uses alternative energy sources.

“We’ve partnered with Hosteling International because they already have solar systems at Athabasca Falls—we’ve just plugged a turbine into their existing system,” said Blake.

River turbines have also been installed at campgrounds in Banff and Kootenay National Parks.

At Whirlpool Campground, the spinning hydrokinetic turbine is attached to rocks at the bottom of the river by a single anchor, however, there is also a back-up anchor in case the first lets go. The turbine uses the river’s current to produce electricity, which is then run through a submarine cable to a small cabin. The cabin is open to all campsite users and is also equipped with picnic tables and a wood stove.

“So basically now people don’t have to fire up their lanterns if they want to cook or use the cabin after the sun goes down,” Blake said.

According to Blake, the turbine can produce between four to 10 kWh a day—the equivalent of six solar panels.

“It’s nice because it doesn’t generate emissions and it generates power around the clock whereas solar panels need that sun,” Blake said.

The turbine sits on a stand in the river and takes up about half of a square metre. While there is a sign warning river users to not get too close to the turbine, Blake said he doesn’t expect the turbine—which is also clearly marked with several orange buoys—to pose any risks.

“If you’re in a kayak you could even paddle right over it,” said Blake, adding that the turbine also doesn’t pose any threat to the river’s fish population. “Fish are like anything else—they instinctually avoid harm. Also, in a river like Whirlpool there’s lots of space—fish can swim around very easily.”

According to Idénergie, 98 per cent of the fish will avoid the turbine. Of the two per cent of fish that do end up entering the turbine, more than 90 per cent have no injuries at all.

An emergency stop button has also been installed for extra safety precautions.

The pilot-project will come to a close at the end of the year, but Blake is confident the turbines are here to stay.

“It’s my full expectation that Parks Canada will deploy these at various locations just to provide some of those basic services,” Blake said.

At the end of the camping season, the turbines will be plucked out of the rivers and re-installed at the beginning of each camping season, extending the longevity of the equipment.

Each river turbine costs about $10,000. The Build in Canada Innovation Program funded the turbines as a part of the pilot-project.

Jill Seaton, chair of the Jasper Environmental Association, said she had no issues with the turbines themselves, but was concerned how lights outside of the townsite might affect Jasper’s dark sky status.

“The turbines don’t sound too bad at all. I just don’t want to see this get bigger and spread down the Parkway,” Seaton said.

Blake assured the minimal LED lights that have been installed will not affect Jasper’s dark sky status.

“We’re not trying to make remarkable changes to the national parks or to the camping experience,” Blake said. “We’re just adding some very basic services.”

A delegation of mayors of communes in Cameroon visited Idénergie on November 9, 2016. We discussed the challenges of electrification in Cameroon and the potential contribution of Idenergie to these communities. Pierre Blanchet, CEO, first carried out an initial assessment of the company’s activities, followed by a visit to Idénergie’s assembly workshop. The first machines were deployed in Alberta in the summer of 2016 and an installation including solar panels and a generator was installed at an off-grid site in Northern Canada.

Systems to reduce off-grid gasoline consumption

The problem with off-grid locations is that transportation costs are very expensive. “We will leave as little room as possible for the generators in the design of our systems to save on money usually spent on fuel transportation,” Pierre Blanchet explained. A generator can be integrated into the systems and set to automatically start only during energy consumption peaks or low battery state of charge. Various combinations of renewable energy systems were presented to the delegation to this end.

A river turbine: no civil works, no dam

Mayors then visited Idénergie’s assembly workshop in Montreal. Gilles Trottier, head of the mechanical engineering department, presented the main assembly steps of the turbine.

“Everything was done to make things simple”, he said. Even though the interior of the generator remains a little more complex, the assembly was designed to allow for a quick installation in a river with only a few tools. The length of the blades can also be adjusted in order to get more power if needed. The hydro-turbine is taken into the river by means of a transportation device, and is then anchored to a rock using a steel cable. A new stand has also recently been designed to improve stability.

Last stop: the electric lab

Idénergie strives to be at the forefront of power electronics technology, making the electrical lab is an unavoidable stop to get an idea of ​​the company’s latest research and development activities. Pierre Blanchet then outlined his vision for Idénergie’s development: adapting the technology of the river turbine to the field of smart solar converters and “smart grids”, networks that use digital communications to detect and react to power fluctuations.

This visit will be concluded by individual meetings to answer communities’ more specific questions.

Idénergie sent its president Mr. Pierre Blanchet to India last week to participate to the Canadian trade mission accompanying the Canadian Minister of Energy, the Honorable James Gordon Carr. This mission took place in conjunction with the Renewable Energy India Expo in New Delhi, where all of the world’s renewable energy companies met.

The trip then continued with several receptions, including the Canadian Embassy and the summit of the Taj Mahal Hotel in Mumbai. Among the formal meetings, we had the opportunity to present our innovations to India’s Minister of Energy, the Honorable Piyush Goyal. This one liked the potential of our machine and indicated that the price would be the differentiating factor in India.

To this end, the second part of the trip consisted of exploring with Tata power the possibilities of deploying technology in India. We visited, among others, potential manufacturers such as a subcontractor of Tata in the field of electric motors, to explore the manufacturing of our units in India for the Asian market. Then we visited a potential site for a demonstration in an evacuation canal of the Bhira hydroelectric plant.

The team is looking forward to a demonstration that will attract interested parties and increase interest in this technology in India. To be continued in 2017 …

As part of the Build in Canada Innovation Program (BCIP), Idénergie signs a contract with Parks Canada for the installation and monitoring of ten river turbines in the Canadian Rocky Mountain Parks in Alberta and British Columbia during the spring and summer 2016. Click here to read all about it.

Mitigate the irregularity of renewable energies, opt for a river turbine! A guaranteed continuous electricity production, 24 hours a day, to power your cabin. For more information, click here to read the article on the RSVPchalet blog.

According to the NGO Global Footprint Network, since august 13, 2015,  we have used up, within eight months, all the renewable resources the planet earth can produce in a year. According to Diane Simiu, of the WWF France, there is one solution: ” The governments have to act from now on, by accelerating the deployment of renewable energies, by strengthening the energy efficiency and by eliminating their subsidies to fossil fuels. ” Click here or here for more information.