The Canadian government is allocating CAD 500 million (approx. EUR 350 million) to the NextGen Biofuels Fund for the development and operation of renewable fuels. Canada’s abundance of suitable biomass materials is a target for large-scale demonstration facilities, encouraging the growth and retention of Canadian technologies and expertise. Cellulosic feedstocks are composed largely of materials that are considered waste and can be grown on low-grade soil. The NextGen Biofuels Fund will support up to 40% of eligible project costs for the establishment of the facilitiesfor the production of next-generation renewable fuels.
The fund will be managed by Sustainable Development Technology Canada (SDTC). “The NextGen Biofuels Fund™ will jumpstart the development and production of the next generation of renewable fuels in Canada,” said SDTC Chairman James M. Stanford. Canada is well-positioned to capitalize on next-generation renewable fuels. In Canada, there is an abundance of cellulose-based feedstocks.
SDTC is an arm’s-length foundation which has received CAD 1.05 billion from the Government of Canada as part of its commitment to create a healthy environment and a high quality of life for all Canadians. SDTC operates two funds aimed at the development and demonstration of innovative technological solutions.
- The CAD 550 million SD Tech Fund™ supports projects that address climate change, air quality, clean water, and clean soil.
- The CAD 500 million NextGen Biofuels Fund™ supports the establishment of first-of-kind large demonstration-scale facilities for the production of next-generation renewable fuels.
SDTC Press release $500M Fund Launched to Support Next-Generation Renewable Fuels (PDF document)