Clearwater Partners With Thermalfrost Inc. to Test Commercialization of Energy Recovery Technology

HALIFAX, Canada - Clearwater Seafoods Limited Partnership (”Clearwater”) announced today that it has signed an agreement to partner with energy company Thermalfrost Inc. to commercialize energy recovery technology that will use waste heat harnessed from vessel engines to provide onboard freezing capacity while processing at sea.

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Clearwater is known for its commitment to sustainable fisheries and improving environmental performance in its operations. This newest energy conservation initiative includes recovering waste energy which has the potential to reduce the consumption of fuel, resulting in lower operating costs and reduced greenhouse gas emissions from fishing activities. “We know the importance of addressing issues like climate change and are pleased to have the opportunity to partner in innovative ways to increase our fuel efficiency,” says Mike Pittman, Clearwater VP of Fleet Management.

“Green technologies have the most beneficial impact on the environment when they have successful commercial uptake,” stated Thermalfrost President and CEO Steven Donaldson. Mr. Donaldson continued “This fall, Clearwater will begin Phase 1 of the project by partnering with Thermalfrost in the installation of equipment aboard one of the company’s offshore scallop harvesting platforms, as well as providing their engineering expertise towards developing and demonstrating various prototypes of the technology. Thermalfrost will be deploying 10 thermal compressors, ranging in size from 30 kW to 100 kW of cooling capacity, on various fishing vessels. Freezing temperatures of close to -30 degrees C are hoped to be achieved from the waste heat recovery strategy.”

Mike Pittman summarized this initiative “This is an exciting project that is expected to be a great win-win solution that benefits both industry and the environment.”

About Clearwater

Clearwater is recognized for its consistent quality, wide diversity and reliable delivery of premium seafood, including scallops, lobster, clams, coldwater shrimp, crab and ground fish.

Since its founding in 1976, Clearwater has invested in science, people, technology, resource ownership and resource management to preserve and grow its seafood resource. This commitment has allowed it to remain a leader in the global seafood market.

To view Clearwater’s A Sustainable Future and further information visit http:/www.clearwater.ca

About Thermalfrost

Thermalfrost is a pioneer in the field of thermally activated cooling. Its thermal compressor technology has demonstrated unparalleled performance in harnessing low-grade heat to generate deep refrigeration. Learn more about Thermalfrost at: www.thermalfrost.com

For further information: Mike Pittman, Vice-President, Fleet, Clearwater, +1-902-634-8049

Source: Clearwater Seafoods Limited Partnership

For further information: Mike Pittman, Vice-President, Fleet, Clearwater, +1-902-634-8049