SDTC: $500M Fund Launched to Support Next-Generation Renewable Fuels
October 30, 2007 // Published as a news service by IHS
The new $500 million fund, supported by the Canadian government and management by Sustainable Development Technology Canada (SDTC), is now open for applications.
"The NextGen Biofuels Fund will jumpstart the development and production of the next generation of renewable fuels in Canada," said SDTC Chairman James Stanford.
"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 homegrown technologies and expertise in Canada."
Applicants are able to submit applications at any time during the year. To be eligible, a project must:
- Be a first-of-kind facility that primarily produces a next-generation renewable fuel at large demonstration-scale.
- Be located in Canada.
- Use feedstocks that are, or could be, representative of Canadian biomass.
- Have demonstrated their technology at the pre-commercial pilot scale.
"Next-generation biofuels technologies have the potential to generate even greater environmental benefits," said Gary Lunn, Canada's minister of natural resources. "The biofuel strategy of Canada's new government is a double win - good for farmers and good for the environment."
Next-generation renewable fuels are derived from non-traditional renewable feedstocks, such as fast-growing grasses, agricultural residues and forest biomass, and are produced through the use of non-conventional conversion technologies.
According to SDTC, Canada is well-positioned to capitalize on next-generation renewable fuels. In Canada, there is an abundance of cellulose-based feedstocks, which have an energy content significantly higher than conventional biofuel feedstocks. Such cellulosic feedstocks consist largely of materials that are currently considered waste, can be grown on low-grade soil and have greater potential for co-products.
"Producing the large-scale volumes of NextGen biofuels that are needed to gain market traction will provide superior environmental benefits and alternate sources of revenue for those in the agriculture, forestry and waste management sectors," said Vicky Sharpe, SDTC president and CEO. "In addition, next-generation biofuels are made from cellulose, rather than edible starch."
SDTC operates two funds aimed at the development and demonstration of innovative technological solutions - the $550 million SD Tech Fund, which supports projects that address climate change, air quality, clean water and clean soil and the $500 million NextGen Biofuels Fund.
Source: Sustainable Development Technology Canada (SDTC).