|By Marketwired .||
|September 27, 2013 10:59 AM EDT||
VARENNES, QUEBEC -- (Marketwired) -- 09/27/13 -- The Honourable Joe Oliver, Canada's Minister of Natural Resources, today announced a federal investment to support an innovative clean energy project in Quebec. Today's announcement of $734,500 through Sustainable Development Technology Canada's (SDTC) NextGen Biofuels Fund is for an initial phase of the project. SDTC's funding could reach $39.8 million, based on subsequent project milestones and required approvals. This announcement will help reduce greenhouse gas emissions by supporting a project that will convert urban waste into cellulosic ethanol.
"Our government is investing in advanced clean energy technologies that create well-paying jobs and generate economic opportunities," said Minister Oliver. "By supporting innovative projects like Vanerco's, we are helping Canadian companies develop an idea into a marketable reality."
"Our government is pleased to encourage clean technology development and commercialization in Quebec," said the Honourable Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of Economic Development Agency of Canada for the Regions of Quebec. "We support Canadian companies that are researching and developing workable solutions to sustain our environment for future generations while balancing our need for responsible resource development."
The Vanerco Varennes-Generation Project is a joint venture partnership formed by Enerkem Technologies, a Montreal-based waste-to-biofuels and chemicals company, and GreenField, a Canadian leader in ethanol production.
The project will be located at GreenField's facility in Varennes, where it will convert 100,000 metric tonnes per year of urban waste into 38 million litres of cellulosic ethanol that can then be blended into transportation fuel.
"This project truly puts industrial waste to work, creating jobs in the community while producing as much as 38 million litres of ethanol a year. SDTC is proud to be a partner in this pioneering project," said Vicky Sharpe, SDTC President and CEO. "Getting technologies such as this to a commercial scale will be crucial in helping Canada play a key role in the dynamic global clean tech marketplace, currently valued at $1 trillion."
Economic Action Plan 2013 will provide $325 million over eight years to Sustainable Development Technology Canada to support the development and demonstration of new clean technologies, which can save businesses money, create high-paying jobs and drive innovation. These innovations carry a made-in-Canada label - something that all Canadians can be proud of.
"By supporting clean technologies, the Harper Government is choosing to invest in our country's long-term prosperity and in a cleaner environment for Canadians," concluded Minister Oliver.
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