Ottawa puts up $300K for Man. biodiesel project
| 1 min read
By FBC staff
The federal government’s Biofuels Opportunities for Producers Initiative (BOPI) will put up $300,000 for a biodiesel project at Altona in southern Manitoba, the company announced Tuesday.
Sunbelt BioFuels Ltd. will get the maximum BOPI funding allowed, to be put toward planning its proposed 113.6 million-litre-per-year canola biodiesel plant.
The funding, administered by the Manitoba Rural Adaptation Council (MRAC), goes to what the company describes as a community-based, farmer-controlled business.
The selection process for BOPI funding recognizes industry and producer commitment, both of which were outlined in Sunbelt’s plans, said MRAC executive director Terry Hayward.
Sunbelt chairman John Falk cited months of work in preliminary planning and securing “proven technology required to make the business as competitive and sustainable as possible.”
The Sunbelt project, according to its registration with the federal ecoABC program, will cost $44.1 million, nine per cent of which is expected to be raised through new equity investment by farmers.
The company aims to start building the plant in April 2008 for commissioning in October 2009.
