Government of Canada Helps Boost Biofuel Industry

Quebec investment helping to position Canada as clean energy superpower
MONTREAL, QUEBEC — (Marketwire) — 09/14/10 — Today, Canada strengthened its position as an up and coming clean energy superpower with a Government of Canada investment that will support the production of biodiesel, sustain job creation and help stimulate the economy, announced the Honourable Christian Paradis, Minister of Natural Resources. The Government of Canada is delivering an investment of up to $18.79 million over seven years to Biocardel Quebec Inc. through its ecoENERGY for Biofuels program.

“Our Government is working to advance clean energy solutions and reduce greenhouse gas emissions through our ecoENERGY for Biofuels program,” said Minister Paradis. “By investing in this project, we are helping to create and sustain local jobs and economic opportunities while creating a healthier environment for all Canadians.”

Biocardel Quebec Inc., located in Richmond, Quebec, will produce about 40 million litres of biodiesel a year. The project consists of converting vegetable or cooking oil or animal fat into biodiesel. The company intends to sell the product to diesel producers in Quebec, the Atlantic provinces and possibly the United States, which will include a percentage of biodiesel in their diesel. Emissions reductions from biodiesel can be as much as 60 percent over regular diesel.

“We are very pleased with the Government of Canada’s support – it will help to secure the future of our biodiesel production,” said Rene Delarue, President of Biocardel Quebec Inc. “Biocardel’s production of biodiesel and our R&D work in algae-biofuels and recovery of byproducts will help to reduce greenhouse gas emissions while promoting a sustainable environment.”

The Government of Canada recognizes that the increased use of biofuels may be helpful in reducing Canada’s greenhouse gas emissions as well as create clean energy jobs for today and in the future. The Government recently finalized regulations that will require gasoline to include an average annual five percent renewable fuel content by December 15, 2010.

Today’s announcement is part of the $1.5 billion over nine years that the Government of Canada is investing through the ecoENERGY for Biofuels program. The Government of Canada’s Economic Action Plan also dedicates $1 billion for the Clean Energy Fund and $1 billion for the Green Infrastructure Fund to provide additional economic stimulus while promoting a cleaner, more sustainable energy future for Canadians.

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The Government of Canada will provide up to $18.79 million in funding over seven years to a biodiesel plant in Quebec. Natural Resources Minister Christian Paradis said that, with this investment, the Government of Canada is helping to create and sustain local jobs and economic opportunities while creating a healthier environment for all Canadians.