Novaporte advances Cape Breton Offshore Wind Manufacturing Port following successful Canada Investment Summit. Sep 22, 2026, 07:30 ET Canadian capital, Indigenous partnership, global operating expertise and workforce development converge around an offshore wind industrial ecosystem supporting Nova Scotia's Wind West ambitions TORONTO, Sept. 22, 2026 /CNW/ - Novaporte concluded a successful Canada Investment Summit in Toronto this past week, advancing discussions with Canadian and international institutional investors around its proposed offshore wind manufacturing port and broader infrastructure platform in Sydney Harbour, Nova Scotia. The inaugural Summit brought together many of the world's leading investment executives, Canadian institutional investors, business leaders and governments with a common objective: attracting long-term capital to build major Canadian projects. Following more than 13 years of development, Novaporte's US$1 billion+ Phase One infrastructure program was selected for inclusion in the Summit investment deal book. Novaporte worked alongside federal and provincial representatives in welcoming international investors to Canada and encouraging them to consider Nova Scotia and Cape Breton as they evaluate Canadian infrastructure opportunities. Novaporte and its Canadian investment partner, Fengate Asset Management, also hosted meetings at Fengate's Toronto offices with international fund executives and leading Canadian institutional investors, including investors focused on marine and infrastructure assets. A central focus was the development of an integrated offshore wind industrial ecosystem in Cape Breton capable of supporting Nova Scotia's Wind West ambitions. As part of this effort, Fengate has provided indicative support for an equity investment of up to C$300 million across the Novaporte platform. Building the infrastructure behind Wind West At the centre of that ecosystem is Novaporte's proposed Sydney Harbour Offshore Wind Manufacturing Port, designed to extend beyond conventional turbine marshalling. Novaporte plans to combine heavy-lift marine infrastructure with industrial lands supporting component manufacturing, fabrication, assembly, logistics, operations and maintenance and other elements of the offshore wind supply chain. The objective is to attract anchor manufacturers and suppliers to Cape Breton and connect Canadian manufacturing to North Atlantic and European markets. The port is also being designed to support the future requirements of Novaporte Wind Canada LP, the SHIP-Membertou offshore wind development partnership successfully pre-qualified by the Canada-Nova Scotia Offshore Energy Regulator. Fengate participated alongside Novaporte Wind Canada LP in the CNSOER prequalification process, extending its relationship with the Novaporte development team that spans more than a decade. "Nova Scotia has a generational opportunity through Wind West to build a world-class offshore wind industry, create good-paying jobs and attract major investment to our province. Novaporte and Membertou have spent more than a decade building partnerships and positioning Cape Breton to participate in that opportunity. It is encouraging to see Canadian institutional capital, international offshore wind expertise and workforce development coming together around a Nova Scotia project. This is the kind of collaboration that can help us build an offshore wind industry and supply chain here at home." - Tim Houston, Premier of Nova Scotia Canadian capital supporting Canadian infrastructure Fengate has followed and supported SHIP's Novaporte development plans for more than a decade as the platform has evolved into a broader Canadian infrastructure and offshore wind opportunity. "Fengate has followed and supported SHIP's Novaporte development plans for more than a decade, and we have seen it evolve into an opportunity of national significance. We were pleased to participate alongside the Novaporte team through the offshore wind prequalification process and are equally proud to back this platform as it enters this next phase of development. What sets this opportunity apart is the combination of Canadian institutional capital, SHIP's longstanding partnership with Membertou, and meaningful Indigenous economic participation - that's the kind of nation-building infrastructure Cape Breton, and Canada, need right now." - Darcy Wilson, Managing Director, Infrastructure Investments, Fengate Asset Management An integrated offshore wind ecosystem At the foundation of Novaporte's ecosystem is its longstanding partnership with Membertou First Nation. Blue Water Shipping of Denmark, Novaporte's exclusive offshore wind marshalling port operator, brings more than 25 years of wind logistics and terminal operating experience. That global expertise will be paired with a Canadian workforce through Novaporte's partnership with the International Longshoremen's Association (ILA). The ecosystem extends internationally through the Northern Lights Ports Alliance, connecting Sydney Harbour with Nordic and North Atlantic partner ports and supporting trade relationships between Canadian manufacturers, northern communities and established European offshore wind markets. "Membertou and SHIP have worked together for more than a decade because we have always believed this opportunity could create lasting economic benefits for our people and for Cape Breton. The conversations in Toronto demonstrate the importance of bringing Indigenous partnership, Canadian capital and international investment together around projects that can create opportunities for generations. We are proud to continue advancing Novaporte together." - Chief Terry Paul, Chief & CEO, Membertou Building with Canadian capital "The Canada Investment Summit demonstrated what can happen when governments, Indigenous partners, Canadian institutional capital and global investors come together around projects that are ready to move forward. Prime Minister Carney has challenged Canada to build, attract investment and put Canadian capital to work alongside global capital. We intend for Novaporte to contribute to that vision. After 13 years of development, our objective is to assemble a Canadian capital stack around Novaporte, anchored by partners such as Membertou and Fengate and complemented by international infrastructure investment and expertise. We want Cape Breton to participate fully in Wind West-not simply by staging turbines, but by attracting manufacturing, supply-chain companies and skilled jobs to Nova Scotia." - Albert Barbusci, CEO, Novaporte Novaporte will continue working with its Indigenous, government, investment, operating and workforce partners as Nova Scotia advances its offshore wind strategy and Canada mobilizes Canadian and international capital into nation-building infrastructure. The objective is to be positioned to execute when the market, regulatory and investment conditions are ready. About Novaporte Novaporte is an Indigenous-partnered North Atlantic infrastructure development platform being advanced in Sydney Harbour, Nova Scotia. Developed alongside Membertou First Nation, Novaporte combines proposed deep-water marine infrastructure, industrial development, offshore wind manufacturing and logistics, rail connectivity and strategic access to Canadian, North Atlantic and European markets. Forward-Looking Information This release contains forward-looking information regarding proposed infrastructure, investment and development opportunities. Plans remain subject to regulatory approvals, commercial agreements, financing, engineering and market conditions. Fengate's indicative financial support remains subject to the terms of its proposal and does not constitute a commitment to invest C$300 million in any individual Novaporte project. Inclusion in the Canada Investment Summit investment deal book does not constitute a government endorsement or financing commitment. SOURCE Novaporte Wind Canada LP Media contacts: Justin Forian, Novaporte, [email protected]; Kelsea MacNeil, Membertou Development Corporation, [email protected]

Fengate and Mavrek break ground on new 380-unit mixed-use residential development in Chicago's West Loop. Chicago, Illinois, Sept. 09, 2026 (GLOBE NEWSWIRE) - Today, Fengate Asset Management ("Fengate") and Mavrek Development ("Mavrek") celebrated the groundbreaking of Julep West Loop, a new 25-story mixed-use residential development in Chicago's West Loop neighborhood. The development will deliver 380 residential units, including 76 affordable units, alongside more than 21,500 square feet of commercial space, anchored by an international grocery store serving residents and the surrounding community. The property will include market-leading amenities including a rooftop pool with cabanas, outdoor fire pits, fitness center, pickleball court, half-court basketball court, dog run and grooming facilities, resident lounges, 24-hour concierge service, bike storage, and EV charging stations. Located between Fulton Market, the Chicago Loop and the Illinois Medical District, Julep West Loop will offer residents convenient access to major employment centers, transit connections and established retail, dining and entertainment amenities. The development comes amid strong housing demand and limited new residential supply in the West Loop, a neighborhood that has seen significant growth and development in recent years. The event featured remarks from James P. Connolly, Business Manager for the Chicago Laborers District Council, Joseph Mancinelli, Chair of LPFCEC, LiUNA International Vice President and Regional Manager for Central and Eastern Canada, Michael Macellaio, President, Chicago & Cook County Building & Construction Trades Council, Illinois State Treasurer Michael Frerichs, Alderman Bill Conway, Ward 34, City of Chicago, Adam Friedberg, Chief Executive Officer, Mavrek Development, and Lou Serafini, President and CEO, Fengate Asset Management. Julep West Loop is being advanced through Fengate's Social Opportunities strategy, which focuses on investments in housing, healthcare and logistics assets across the United States and Canada and builds on Fengate's longstanding relationships with the labor community and development partners. The investment in Julep West Loop is supported by an anchor commitment to the strategy from the LiUNA Pension Fund of Central and Eastern Canada ("LPFCEC"), further building on a long-standing partnership and a shared commitment to delivering high-quality housing and meaningful benefits for workers and their communities. "Breaking ground on Julep West Loop marks an important step in Fengate's growth in the United States and builds on our commitment to delivering high-quality rental housing where it is needed most," said Alexander Glassman, Managing Director, U.S. Investments, Real Estate, Fengate Asset Management. "With demand for housing in Chicago continuing to outpace supply, now is the time to advance well-located, mixed-use communities that connect residents to jobs, transit and amenities. Together with Mavrek, we are proud to help bring much-needed homes to the West Loop and create lasting value for residents, workers and the broader community." "Mavrek has spent years building relationships across national and international investment and development communities, and our partnership with Fengate and Affinius Capital on Julep West Loop is a product of that commitment," said Anthony Hrusovsky, Partner and Chief Investment Officer of Mavrek Development. "As owner and developer, we're responsible for creating a successful asset, not only for our investors but for the community as well. The West Loop has become one of Chicago's most in-demand neighborhoods, and we're honored to support the continued growth of the area by delivering much-needed housing anchored by one of the world's most reputable grocers." "Julep West Loop represents a pivotal milestone for LiUNA as our first investment in a real estate development in the United States," said Joseph Mancinelli, Chair of LPFCEC, LiUNA International Vice President and Regional Manager for Central and Eastern Canada. "This project is about more than building homes, it is about investing in people and community, creating meaningful work for our members and building the foundation for where they live and work. We are proud to continue to advance our mission here in Chicago, delivering much-needed housing while generating good union jobs and building a more connected and resilient West Loop for years to come." Julep West Loop will target a comprehensive sustainability program, including National Green Building Standard (NGBS) certification, energy efficiency strategies, green roofs, EV-ready infrastructure, water conservation measures, stormwater reuse systems, and robust environmental management practices during construction. Skender is serving as general contractor and will lead construction on the project, which is expected to generate approximately 740,000 union construction labor hours and $69 million in income for Chicago's union construction workforce between 2026 and 2028. Construction is expected to take approximately 21 months, with first occupancy anticipated in early 2028. About Fengate Asset Management Fengate is a leading alternative investment manager, with more than USD $19+ billion of assets under management, focused on infrastructure, private equity, and real estate strategies. With offices and team members in Canada and the United States, Fengate has a proven track record of successful projects and partnerships and an established reputation as one of the most active real asset investors and developers in North America. About Mavrek Development Mavrek, founded in 2010, has grown into one of Chicago's most active developers. Originally focused on luxury single-family homes, the firm has expanded into high-quality urban infill multi-family and mixed-use projects. With a strong commitment to Chicago and a collaborative approach to executing complex developments, Mavrek represents the next generation of the city's real estate leaders. About the LiUNA Pension Fund of Central and Eastern Canada Established in 1972, the LiUNA Pension Fund of Central and Eastern Canada (LPFCEC) is one of the fastest growing multi-employer pension funds across Canada, voted top 10 pension funds by Benefits Canada. With a diverse investment portfolio and over $13 billion in assets, LPFCEC has yielded positive returns for the plan, great work opportunities for LiUNA members, and has created many needed institutions across North America through a broad range of investments. Learn more at lpfcec.org. About Skender Skender is a full-service building contractor and one of the nation's top 100 construction firms, according to Building Design & Construction. We combine Lean process with high-performing teams to deliver unmatched results and maximum value. Headquartered in Chicago with an office in Indianapolis, Skender serves its clients in the Midwest and across the country. For more information on Skender, visit skender.com.