Calgary, AB – A new fund, with $500 million in funding provided by the federal government, will focus on jumpstarting the development and production of next-generation renewable fuels. The fund will be managed by Sustainable Development Technology Canada (SDTC).
“This fund will aim to take advantage of the abundance of suitable biomass materials available in Canada by funding large-scale demonstration facilities and encouraging the growth and retention of home-grown technologies and expertise in Canada,” says James M Stanford, chairman of the SDTC.
The fund will support up to 40% of eligible project costs for the establishment of first-of-kind large demonstration-scale facilities for the production of next-generation renewable fuels. The contribution will be repayable based on free cash flow over a period of 10 years after project completion.
The fund is looking for projects that are a first-of-kind facility that primarily produces a next-generation renewable fuel at large demonstration-scale; are located in Canada; use feedstocks that are or could be representative of Canadian biomass; and have demonstrated their technology at the pre-commercial pilot scale.
The fund is open for applications.