27 September 2013 20:34 [Source: ICIS news]
HOUSTON (ICIS)--The Canadian government is committing up to Canadian dollars (C$) 39.8m in repayable contribution to the development of the VANERCO cellulosic ethanol facility in Varenness, Quebec, National Resources Minister Joe Oliver announced on Friday.
The Sustainable Development Technology Canada (SDTC)’s NextGen Biofuels Fund is contributing C$734,500 ($713,100, €527,700) for the initial front-end development phase of the project, which is a joint venture between Enerkem and GreenField Specialty Alcohols.
The 38m litre/year facility will use Enerkem’s thermochemical process technology to covert waste materials into ethanol and renewable chemicals. The VANERCO plant will be integrated with GreenField’s existing ethanol plant in Varennes.
The remaining funds will be awarded based on the project’s milestones and required government approvals.
“Our government is investing in advanced clean energy technologies that create well-paying jobs and generate economic opportunities,” Oliver said. “By supporting innovative projects like Vanerco’s, we are helping Canadian companies develop an idea into a marketable reality.”
($1 = C$1.03, $1 = €0.74)
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