From a release
Woodland Biofuels Inc. is receiving a contribution to operate a plant that will produce low-cost biofuel from waste. Patricia Davidson, Member of Parliament for Sarnia-Lambton, announced the funding today on behalf of the Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario).
“Our Government recognizes that innovation holds the key to long-term economic stability for the people, communities and businesses of Ontario,” said MP Davidson. “Our investment in Woodland Biofuels will lead to opportunities for job creation, growth and long-term prosperity in Ontario, and will strengthen Canada’s position as a global leader in clean energy.”
Under FedDev Ontario’s Investing in Business Innovation (IBI) initiative, Woodland Biofuels will receive a repayable contribution of up to $800,000 to operate a plant to demonstrate the efficiency and scalability of cellulosic ethanol production using its unique technology. The patented technology uses a series of chemical reaction steps to produce cellulosic ethanol biofuel from plant materials, including agricultural and forestry waste. Through the plant’s operations, Woodland Biofuels will determine the optimal processes and procedures for producing cellulosic ethanol, preparing the company to construct commercial plants and licence others to build plants that use Woodland’s technology.
“We are delighted that FedDev Ontario has decided to support the optimization of our Sarnia plant. We expect to the plant to show that we can produce ethanol from waste for about half of what it costs to produce gasoline at today’s oil prices,” said Greg Nuttall, President and CEO of Woodland Biofuels. “This will not only put Ontario in the front of the global race to find an alternative to fossil fuels but ultimately will also provide Ontario with significant economic and environmental benefits.”
FedDev Ontario funding for Woodland Biofuels has enabled the company to attract up to an additional $2 million in venture capital financing through the MaRS Cleantech Fund. The company expects to create up to 18 full-time jobs during the implementation of this project, and up to 1,120 additional jobs with the construction of multiple commercial plants following the project’s completion.