I support building sustainable data centres here, as a matter of economy and security.
However, EverWind is sketchy. Anthropic signing a 20 year commitment while fundraising on junk bonds (BB+) is sketchy.
Newfoundland revoked Everwind’s crown land contracts over failure to pay, this whole year they’ve been having requests for crown land denied over similar issues with failing to pay or build. So now this month they announce a pivot to AI. Where have we seen this before?
They’re US based, but government of Canada has been pumping hundreds of millions into them for years, then they never complete contracts or pay things back. Why do we keep dumping money into this shit?
Their green hydrogen project hasn’t been delivered, it’s being accused of green washing, and they were supposed to sell green ammonia to the EU but because it’s actually produced with coal power Europe backed out.
Basically we’ve paid them $300M to build a business where they pocket a 40% tax credit, then produce hydrogen with coal power, then sell it as green. And they took the money, bought some tug boats, and built zero turbines or ammonia or hydrogen plants.
Why isn’t the federal government just crown corp’ing this for the hundreds of millions they’re throwing in?
This deal is sketchy.
I support building sustainable data centres here, as a matter of economy and security.
However, EverWind is sketchy. Anthropic signing a 20 year commitment while fundraising on junk bonds (BB+) is sketchy.
Newfoundland revoked Everwind’s crown land contracts over failure to pay, this whole year they’ve been having requests for crown land denied over similar issues with failing to pay or build. So now this month they announce a pivot to AI. Where have we seen this before?
They’re US based, but government of Canada has been pumping hundreds of millions into them for years, then they never complete contracts or pay things back. Why do we keep dumping money into this shit?
Their green hydrogen project hasn’t been delivered, it’s being accused of green washing, and they were supposed to sell green ammonia to the EU but because it’s actually produced with coal power Europe backed out.
Basically we’ve paid them $300M to build a business where they pocket a 40% tax credit, then produce hydrogen with coal power, then sell it as green. And they took the money, bought some tug boats, and built zero turbines or ammonia or hydrogen plants.
Why isn’t the federal government just crown corp’ing this for the hundreds of millions they’re throwing in?
Here’s an article about those EverWind issues for anyone who wants to read more.
I’ll just throw in that the CEO is a Trump donor.