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Back You are here: Home Renewables Bioenergy Biodiesel Canada invests 72.4 million for Ontario biodiesel plant

Biodiesel

Canada invests 72.4 million for Ontario biodiesel plant


BIOX biodiesel plant in Hamilton, Ontario is helping Canada “grow beyond oil.” Photo by BIOX Corporation

The government of Canada recently invested 72.4 million Canadian dollars (US $67 million) to support a biodiesel plant in Hamilton, Ontario, it reported.

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BIOX, a nine-year-old biodiesel company based in Ontario, will receive the money through the ecoENERGY for Biofuels program which helps stabilize the Canadian renewable fuel industry.

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"This announcement today is ensuring new, green, sustainable manufacturing jobs are being created right here at home," said Tim Haig, president and CEO of BIOX Canada Ltd. "Clean-burning renewable fuels such as biodiesel significantly reduce harmful greenhouse gas emissions and finally give drivers a choice at the fuel pump. BIOX is proud to be a world-leader in advanced biodiesel production, and proud to help Canada grow beyond oil."

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Compared with gasoline, grain-based ethanol can reduce greenhouse gas emissions by up to 40% on a life-cycle basis. For biodiesel, the emissions reduction can be as much as 60%.

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Canada is investing in the five-year, 1-billion-Canadian-dollar Clean Energy Fund and the Green Infrastructure Fund with the same amount also meant to reduce emissions while boosting the economy by providing jobs. These initiatives are part of the Government's Economic Action Plan, which is hoped provide additional economic stimulus while accelerating the move toward a cleaner, more sustainable energy future for Canadians.

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Last July 2007, Prime Minister Stephen Harper allotted $1.5 billion for over nine years to encourage the development of a strong, competitive renewable fuels industry in Canada.


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